3208 Hanover Dr BUILDING 17-DLafayetteIN47909
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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 Lafayette at 3208 Hanover Dr BUILDING 17-D, Lafayette, IN, 47909 generates $1,053/mo in rent and, after a $661/mo payment, leaves $57/mo in cash flow. Total monthly income is $1,053/mo, and annual cash flow is $688/yr on $44,753 invested. Return on cash invested sits at 21.45% in year one, and rental yield is 9.36% on a $135,000 entry. Equity gained on principal adds $871/yr, while 5% annual appreciation builds toward $37,298 over five years. Five-year ROI reaches 112.7% and total cumulative return in cash sums $50,437. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,053/mo property income rather than buyer’s personal income.
Condo
Built in 1975
N/A lot
$N/A/sqft
$185 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47909, Lafayette, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,777 (100%) |
| Owner Occupied HU | 11,637 (62.0%) |
| Renter Occupied HU | 5,952 (31.7%) |
| Vacant Housing Units | 1,188 ( 6.3%) |
| Median Home Value | $237,746 |
| Average Home Value | $278,258 |
Housing Distribution
Address Breakdown
Residential
18,114
Single Family
16,603
Multi-Family
1,511
Businesses
463
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Listed by: LuAnn Parker • Keller Williams Lafayette
Mls Name: IRMLS
Mls Provider:
Mls ID: #202522048
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.