308 S 1st StNorth ManchesterIN46962
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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
Investment property for sale in North Manchester at 308 S 1st St, North Manchester, IN, 46962 uses $82,842 cash to close to unlock $10,752/yr annual cash flow and $896/mo monthly cash flow. Total monthly income runs $2,396/mo, and a $1,223/mo payment keeps the spread at $896/mo. Purchase price stands at $249,900, and rental yield measures 11.51% with $2,396/mo rent. Return on cash invested shows 32.89% in year one, and 5% annual appreciation builds toward $69,043 over five years. Five-year ROI reaches 172.25% and total cumulative return in cash records $142,694. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,396/mo property income covering a $1,223/mo payment rather than investor’s personal income.
Single Family
Built in 2025
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46962, North Manchester, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,818 (100%) |
| Owner Occupied HU | 2,537 (66.4%) |
| Renter Occupied HU | 941 (24.6%) |
| Vacant Housing Units | 340 ( 8.9%) |
| Median Home Value | $169,696 |
| Average Home Value | $234,758 |
Housing Distribution
Address Breakdown
Residential
3,480
Single Family
3,416
Multi-Family
64
Businesses
281
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Listed by: Tiffany Reimer • Metzger Property Services, LLC
Mls Name: IRMLS
Mls ID: #202530303