3499 Penny LnNorth VernonIN47265
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
Investment Highlights
Investment property for sale in North Vernon at 3499 Penny Ln, North Vernon, IN, 47265 uses $59,339 cash to close to unlock $1,507/yr annual cash flow and $126/mo monthly cash flow. Total monthly income runs $1,200/mo, and a $876/mo payment keeps the spread at $126/mo. Purchase price stands at $179,000, and rental yield measures 8.04% with $1,200/mo rent. Return on cash invested shows 22.45% in year one, and 5% annual appreciation builds toward $49,454 over five years. Five-year ROI reaches 116.23% and total cumulative return in cash records $68,967. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,200/mo property income covering a $876/mo payment rather than investor’s personal income.
Manufactured
Built in 1995
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47265, North Vernon, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,430 (100%) |
| Owner Occupied HU | 5,736 (68.0%) |
| Renter Occupied HU | 1,939 (23.0%) |
| Vacant Housing Units | 755 ( 9.0%) |
| Median Home Value | $172,770 |
| Average Home Value | $218,044 |
Housing Distribution
Address Breakdown
Residential
8,087
Single Family
7,915
Multi-Family
172
Businesses
506
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Daniel Stark • Tom Lawson Real Est & Auction
Mls Name: MIBOR as distributed by MLS GRID
Mls ID: #22080610