311 S Franklin StGarrettIN46738
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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 Garrett at 311 S Franklin St, Garrett, IN, 46738 uses $61,294 cash to close to unlock $5,838/yr annual cash flow and $487/mo monthly cash flow. Total monthly income runs $1,606/mo, and a $905/mo payment keeps the spread at $487/mo. Purchase price stands at $184,900, and rental yield measures 10.42% with $1,606/mo rent. Return on cash invested shows 29.43% in year one, and 5% annual appreciation builds toward $51,084 over five years. Five-year ROI reaches 153.77% and total cumulative return in cash records $94,255. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,606/mo property income covering a $905/mo payment rather than investor’s personal income.
Single Family
Built in 1890
3,750 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46738, Garrett, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,457 (100%) |
| Owner Occupied HU | 2,591 (74.9%) |
| Renter Occupied HU | 727 (21.0%) |
| Vacant Housing Units | 139 ( 4.0%) |
| Median Home Value | $197,979 |
| Average Home Value | $219,234 |
Housing Distribution
Address Breakdown
Residential
3,317
Single Family
3,217
Multi-Family
100
Businesses
233
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Listed by: Sarah Spenn • Coldwell Banker Real Estate Group
Mls Name: IRMLS
Mls Provider:
Mls ID: #202441945
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.