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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Investment property for sale in Lapel at 320 E 7th St, Lapel, IN, 46051 uses $47,073 cash to close to unlock $5,875/yr annual cash flow and $490/mo monthly cash flow. Total monthly income runs $1,342/mo, and a $695/mo payment keeps the spread at $490/mo. Purchase price stands at $142,000, and rental yield measures 11.34% with $1,342/mo rent. Return on cash invested shows 32.39% in year one, and 5% annual appreciation builds toward $39,232 over five years. Five-year ROI reaches 169.58% and total cumulative return in cash records $79,826. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,342/mo property income covering a $695/mo payment rather than investor’s personal income.
Multi Family
Built in 1910
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 46051, Lapel, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,213 (100%) |
| Owner Occupied HU | 900 (74.2%) |
| Renter Occupied HU | 233 (19.2%) |
| Vacant Housing Units | 80 ( 6.6%) |
| Median Home Value | $202,358 |
| Average Home Value | $233,233 |
Residential
840
Single Family
840
Multi-Family
0
Businesses
102
Date | Event | Price |
|---|---|---|
| 2025-10-01 | Sold | $142,000 |
| 2025-09-04 | Pending sale | $149,900 |
| 2025-08-26 | Listed for sale | $149,900 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-10-24 | $1132.68 | 3.82% | $61,700 | 9.20% |
| 2023-10-24 | $1090.96 | 7.28% | $56,500 | 3.86% |
| 2022-10-24 | $1016.96 | 5.17% | $54,400 | 7.30% |
Listed by: P. Aaron Starr • F.C. Tucker Company
Mls Name: MIBOR as distributed by MLS GRID
Mls Provider:
Mls ID: #22058155
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-24 02:37:38 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#48)
