350 N Meridian St UNIT 507IndianapolisIN46204
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe 10.81% yield at 350 N Meridian St UNIT 507, Indianapolis, IN, 46204 in Indianapolis is solid, but the $1,601/mo payment compresses net cash flow to $159/mo at $356,000. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $98,356 by year five, and $3,279/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (2.00) without U.S. income documentation. Total projected return: $148,905.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.8% | 6.8% |
| Monthly Cash Flow | $159 | $450 |
City averages based on Indianapolis market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,206 |
| Total Monthly Debt Service | $2,906 |
| DSCR Ratio | 1.10x |
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.
Condo
Built in 1924
388 sqft lot
$N/A/sqft
$805 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46204, Indianapolis, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,493 (100%) |
| Owner Occupied HU | 856 (11.4%) |
| Renter Occupied HU | 5,147 (68.7%) |
| Vacant Housing Units | 1,490 (19.9%) |
| Median Home Value | $396,246 |
| Average Home Value | $473,876 |
Housing Distribution
Address Breakdown
Residential
6,496
Single Family
1,022
Multi-Family
5,474
Businesses
1,767
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 1924
388 sqft lot
$N/A/sqft
$805 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46204, Indianapolis, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,493 (100%) |
| Owner Occupied HU | 856 (11.4%) |
| Renter Occupied HU | 5,147 (68.7%) |
| Vacant Housing Units | 1,490 (19.9%) |
| Median Home Value | $396,246 |
| Average Home Value | $473,876 |
Housing Distribution
Address Breakdown
Residential
6,496
Single Family
1,022
Multi-Family
5,474
Businesses
1,767
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: undefined
Mls ID: #N/A