323 Main St APT BEvansvilleIN47708
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayMarkets with strong demand fundamentals often produce low-yield, high-appreciation assets. 323 Main St APT B, Evansville, IN, 47708 in Evansville fits: $475,000, 4.75% gross yield, and a projected 5% annual appreciation rate adding $131,234 in value within five years. Rental yield 4.75%. The narrow rent-to-debt spread is the trade-off for market growth. Ziffy Mortgage's DSCR loan (0.88) finances non-U.S. buyers without personal income documentation; optimise coverage with a 30–35% down payment. $4,375/yr in principal paydown and $131,234 in appreciation project a total return of $117,374.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 4.8% | 7.2% |
| Monthly Cash Flow | $(969) | $450 |
City averages based on Evansville market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,882 |
| Total Monthly Debt Service | $2,662 |
| DSCR Ratio | 0.71x |
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.
Condo
Built in 1910
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47708, Evansville, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 696 (100%) |
| Owner Occupied HU | 86 (12.4%) |
| Renter Occupied HU | 349 (50.1%) |
| Vacant Housing Units | 261 (37.5%) |
| Median Home Value | $263,889 |
| Average Home Value | $301,163 |
Housing Distribution
Address Breakdown
Residential
461
Single Family
263
Multi-Family
198
Businesses
508
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
Condo
Built in 1910
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47708, Evansville, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 696 (100%) |
| Owner Occupied HU | 86 (12.4%) |
| Renter Occupied HU | 349 (50.1%) |
| Vacant Housing Units | 261 (37.5%) |
| Median Home Value | $263,889 |
| Average Home Value | $301,163 |
Housing Distribution
Address Breakdown
Residential
461
Single Family
263
Multi-Family
198
Businesses
508
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Melinda Counter • Berkshire Hathaway HomeServices Indiana Realty
Mls Name: IRMLS
Mls ID: #202532535