306 S 2nd StConverseIN46919
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowSolid, durable, and financeable, 306 S 2nd St, Converse, IN, 46919 in Converse earns a 10.92% gross yield at $156,000. Rent of $1,420/mo nets $483/mo after the $701/mo mortgage. The 2.03 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $43,100 and $1,437/yr in equity accumulation project a total cumulative return of $90,214.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 10.9% | 6.2% |
| Monthly Cash Flow | $483 | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $1,420 |
| Total Monthly Debt Service | $874 |
| DSCR Ratio | 1.62x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1985
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46919, Converse, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 961 (100%) |
| Owner Occupied HU | 676 (70.3%) |
| Renter Occupied HU | 185 (19.3%) |
| Vacant Housing Units | 100 (10.4%) |
| Median Home Value | $196,330 |
| Average Home Value | $273,295 |
Housing Distribution
Address Breakdown
Residential
577
Single Family
531
Multi-Family
46
Businesses
42
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1985
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46919, Converse, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 961 (100%) |
| Owner Occupied HU | 676 (70.3%) |
| Renter Occupied HU | 185 (19.3%) |
| Vacant Housing Units | 100 (10.4%) |
| Median Home Value | $196,330 |
| Average Home Value | $273,295 |
Housing Distribution
Address Breakdown
Residential
577
Single Family
531
Multi-Family
46
Businesses
42
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Joe Schroder • RE/MAX Realty One
Mls Name: IRMLS
Mls Provider:
Mls ID: #202538495
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.