3216 Hardscrabble Rd, Spencer, IN, 47460 | $419/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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3216 Hardscrabble Rd, Spencer, IN, 47460 | $419/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Spencer at 3216 Hardscrabble Rd, Spencer, IN, 47460 earns $419/mo cash flow from $2,520/mo rent with a $1,713/mo payment. Total monthly income totals $2,520/mo, and annual cash flow totals $5,029/yr on $116,025 capital. ROI tracks 24.24% on current figures, and rental yield reads 8.64% at a $350,000 purchase. Equity gained on principal adds $2,258/yr, and 5% annual appreciation supports $96,699 over five years. Five-year ROI reaches 125.87% and total cumulative return in cash sums $146,042. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,520/mo property income instead of your personal income.

Single Family

Built in 1997

5.92 Acres lot

$N/A/sqft

No HOA

More details about the property

POLE BARN INCLUDED! Nearly 6 acres featuring a well-kept 1997 Double Wide Manufactured Home with 1,792 sq ft of living space plus an attached 896 sq ft oversized 2-car garage. The home offers an open-concept living, dining, and kitchen area with a breakfast nook, 4 spacious bedrooms, and 2 full baths. Updates include new vinyl plank flooring, fresh paint, and new carpet in two bedrooms. The large primary suite includes an en suite bath with double vanities and a stand-up shower. Enjoy a covered front porch, 12x18 deck, and fenced backyard. A 46x56 pole barn/garage currently used as an automotive shop sits near the road, with a long driveway leading back to the home. Easy commute to Bloomington.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47460, Spencer, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	5,190 (100%)
Owner Occupied HU	3,784 (72.9%)
Renter Occupied HU	949 (18.3%)
Vacant Housing Units	457 ( 8.8%)
Median Home Value	$187,057
Average Home Value	$214,772