324 E Locust StNewburghIN47630
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 324 E Locust St, Newburgh, IN, 47630 in Newburgh. Priced at $224,900, it generates $2,062/mo in gross rent and $712/mo in net monthly cash flow, a 11% yield that comfortably supports the 2.04 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $8,539. Five-year appreciation: $62,136. Equity from principal paydown: $2,071/yr. Total projected cumulative return: $130,935.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11% | 6.0% |
| Monthly Cash Flow | $712 | $250 |
City averages based on Newburgh market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,062 |
| Total Monthly Debt Service | $1,261 |
| DSCR Ratio | 1.64x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Single Family
Built in 1968
0.32 Acres lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
16,355
Single Family
16,047
Multi-Family
308
Businesses
675
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
Single Family
Built in 1968
0.32 Acres lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
16,355
Single Family
16,047
Multi-Family
308
Businesses
675
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices