3114 Hovey StIndianapolisIN46218
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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 Indianapolis at 3114 Hovey St, Indianapolis, IN, 46218 generates $1,472/mo in rent and, after a $737/mo payment, leaves $568/mo in cash flow. Total monthly income is $1,472/mo, and annual cash flow is $6,818/yr on $49,891 invested. Return on cash invested sits at 33.58% in year one, and rental yield is 11.74% on a $150,500 entry. Equity gained on principal adds $971/yr, while 5% annual appreciation builds toward $41,580 over five years. Five-year ROI reaches 175.98% and total cumulative return in cash sums $87,799. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,472/mo property income rather than buyer’s personal income.
Single Family
Built in 1955
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46218, Indianapolis, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,771 (100%) |
| Owner Occupied HU | 5,612 (38.0%) |
| Renter Occupied HU | 6,950 (47.1%) |
| Vacant Housing Units | 2,209 (15.0%) |
| Median Home Value | $94,245 |
| Average Home Value | $146,693 |
Housing Distribution
Address Breakdown
Residential
13,220
Single Family
12,746
Multi-Family
474
Businesses
864
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Listed by: Terry Young • Red Bridge Real Estate
Mls Name: MIBOR as distributed by MLS GRID
Mls ID: #22061556