304 Hickory DriveHanoverIN47243
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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 Hanover at 304 Hickory Drive, Hanover, IN, 47243 priced at $169,900 converts $1,637/mo rent into $617/mo cash flow after a $832/mo obligation. Total monthly income equals $1,637/mo, and annual cash flow totals $7,400/yr on $56,322 invested. Return on cash invested prints 33.05% in year one, and rental yield reads 11.56% against a $169,900 entry. Equity gained on principal adds $1,096/yr, while 5% annual appreciation compiles into $46,940 by year five. Five-year ROI reaches 173.07% and total cumulative return in cash sums $97,478. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,637/mo property income covering a $832/mo payment, not borrower’s personal income.
Single Family
Built in 1976
0.38 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47243, Hanover, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,377 (100%) |
| Owner Occupied HU | 1,473 (62.0%) |
| Renter Occupied HU | 636 (26.8%) |
| Vacant Housing Units | 268 (11.3%) |
| Median Home Value | $218,782 |
| Average Home Value | $242,566 |
Housing Distribution
Address Breakdown
Residential
2,184
Single Family
2,153
Multi-Family
31
Businesses
96
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