305 S Wabash St, New Richmond, IN, 47967 | $583/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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305 S Wabash St, New Richmond, IN, 47967 | $583/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in New Richmond at 305 S Wabash St, New Richmond, IN, 47967 generates $1,784/mo in rent and, after a $979/mo payment, leaves $583/mo in cash flow. Total monthly income is $1,784/mo, and annual cash flow is $7,000/yr on $66,300 invested. Return on cash invested sits at 30.47% in year one, and rental yield is 10.7% on a $200,000 entry. Equity gained on principal adds $1,291/yr, while 5% annual appreciation builds toward $55,256 over five years. Five-year ROI reaches 159.25% and total cumulative return in cash sums $105,584. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,784/mo property income rather than buyer’s personal income.

Single Family

Built in 1961

0.25 Acres lot

$N/A/sqft

No HOA

More details about the property

Discover the perfect blend of modern updates and small-town charm in this stunning 2-bedroom, 2-bathroom home! The open-concept layout creates a seamless flow from the kitchen through the dining and living space. You will love the newer kitchen appliances and thoughtful touches throughout. Inside, updates include an added primary en suite, new water lines, and an upgraded electrical panel. Plus, the HVAC, water heater, and central air were all new in 2024 for added peace of mind. Off the kitchen and laundry area, the mudroom leads to a two-car attached garage and a fully fenced backyard, perfect for pets or play. Enjoy evenings on the brand-new back deck, complemented by new siding and the addition of a welcoming front porch that enhances the curb appeal. Move-in ready and thoughtfully improved, this home is conveniently located between Lafayette and Crawfordsville.