3027 Van Bibber Lake EstGreencastleIN46135
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Greencastle at 3027 Van Bibber Lake Est, Greencastle, IN, 46135 priced at $124,500 converts $956/mo rent into $209/mo cash flow after a $609/mo obligation. Total monthly income equals $956/mo, and annual cash flow totals $2,508/yr on $41,272 invested. Return on cash invested prints 25.99% in year one, and rental yield reads 9.21% against a $124,500 entry. Equity gained on principal adds $803/yr, while 5% annual appreciation compiles into $34,397 by year five. Five-year ROI reaches 135.3% and total cumulative return in cash sums $55,840. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $956/mo property income covering a $609/mo payment, not borrower’s personal income.
Manufactured
Built in 1997
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46135, Greencastle, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,718 (100%) |
| Owner Occupied HU | 4,723 (61.2%) |
| Renter Occupied HU | 2,134 (27.6%) |
| Vacant Housing Units | 861 (11.2%) |
| Median Home Value | $218,134 |
| Average Home Value | $263,076 |
Housing Distribution
Address Breakdown
Residential
7,144
Single Family
6,852
Multi-Family
292
Businesses
650
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Listed by: Samantha Blackard • The Stewart Home Group
Mls Name: MIBOR as distributed by MLS GRID
Mls ID: #22006385