313 N Mill StFairmountIN46928
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayThe investment thesis at 313 N Mill St, Fairmount, IN, 46928 in Fairmount is capital appreciation. Rental yield 2.88%. The 2.88% gross yield at $164,900 falls below cash-flow thresholds, but 5% annual value growth is forecast to deliver $45,559 in additional equity by year five, an equity gain that can outpace many higher-yield markets. Ziffy Mortgage finances appreciation-play assets via DSCR (0.53) without U.S. credit history; structure with a larger down payment to optimise coverage. Total projected return: $24,245.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2.9% | 6.0% |
| Monthly Cash Flow | $(594) | $300 |
City averages based on Fairmount market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $396 |
| Total Monthly Debt Service | $924 |
| DSCR Ratio | 0.43x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 1900
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46928, Fairmount, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,077 (100%) |
| Owner Occupied HU | 1,510 (72.7%) |
| Renter Occupied HU | 394 (19.0%) |
| Vacant Housing Units | 173 ( 8.3%) |
| Median Home Value | $142,808 |
| Average Home Value | $185,599 |
Housing Distribution
Address Breakdown
Residential
1,998
Single Family
1,960
Multi-Family
38
Businesses
120
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 1900
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46928, Fairmount, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,077 (100%) |
| Owner Occupied HU | 1,510 (72.7%) |
| Renter Occupied HU | 394 (19.0%) |
| Vacant Housing Units | 173 ( 8.3%) |
| Median Home Value | $142,808 |
| Average Home Value | $185,599 |
Housing Distribution
Address Breakdown
Residential
1,998
Single Family
1,960
Multi-Family
38
Businesses
120
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices