324 E Locust St, Newburgh, IN, 47630 | $712/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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324 E Locust St, Newburgh, IN, 47630 | $712/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

Rental property for sale in Newburgh at 324 E Locust St, Newburgh, IN, 47630 generates $2,062/mo in rent and, after a $1,101/mo payment, leaves $712/mo in cash flow. Total monthly income is $2,062/mo, and annual cash flow is $8,541/yr on $74,554 invested. Return on cash invested sits at 31.36% in year one, and rental yield is 11% on a $224,900 entry. Equity gained on principal adds $1,451/yr, while 5% annual appreciation builds toward $62,136 over five years. Five-year ROI reaches 164.03% and total cumulative return in cash sums $122,293. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,062/mo property income rather than buyer’s personal income.

Single Family

Built in 1968

0.32 Acres lot

$N/A/sqft

No HOA

More details about the property

Nestled in the heart of Newburgh, this very well maintained 3-bedroom, 1.5-bath home sits on a double lot just a short walk from the riverfront, boutique shops, and local restaurants. This all-brick home featuresa spacious living room, well updated kitchen with large adjacent dining space, 3 main floor bedrooms and unique bath and a half, sharing the shower and linen closet for the utmost convenience. Nearly every aspect of this home has been updated over the past several years, offering peace of mind and modern comfort: Updates include roof (2023), updated electrical panel & wiring (2018), gutters & soffits (2016), thick LVT flooring throughout the main floor (2020), countertops (2020), refrigerator & stove (2020), Dishwasher, (2018), Champion windows (2013) and more! Enjoy the convenience of main floor laundry (washer and dryer included), open dining space adjacent to the kitchen, and plenty of natural light throughout. Downstairs is the full, unfinished basement and one-car garage, providing tons of storage and project space or potential for further finished living space. Outside, the large, double lot features a large, fenced area as well as a yard barn for extra storage. Additionally, you'll appreciate the main floor level carport as well as basement level one-car garage. This move-in ready home is the perfect mix of value, updates, and location!

Neighborhood Data

Neighborhood data shown for ZIP Code: 47630, Newburgh, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	16,362 (100%)
Owner Occupied HU	12,157 (74.3%)
Renter Occupied HU	3,410 (20.8%)
Vacant Housing Units	795 ( 4.9%)
Median Home Value	$296,151
Average Home Value	$354,173