3585 E State Road 38, New Castle, IN, 47362 | $491/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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3585 E State Road 38, New Castle, IN, 47362 | $491/mo Cash Flow | Ziffy

Pending

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 New Castle at 3585 E State Road 38, New Castle, IN, 47362 generates $1,751/mo in rent and, after a $1,027/mo payment, leaves $491/mo in cash flow. Total monthly income is $1,751/mo, and annual cash flow is $5,896/yr on $69,582 invested. Return on cash invested sits at 28.38% in year one, and rental yield is 10.01% on a $209,900 entry. Equity gained on principal adds $1,354/yr, while 5% annual appreciation builds toward $57,992 over five years. Five-year ROI reaches 148.07% and total cumulative return in cash sums $103,028. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,751/mo property income rather than buyer’s personal income.

Single Family

Built in 1900

7.01 Acres lot

$N/A/sqft

No HOA

More details about the property

Welcome to 3585 E St Rd 38, an inviting farmhouse nestled on 7 acres in a peaceful rural setting. This charming property features a detached garage with workshop space, perfect for hobbies or storage, and multiple smaller outbuildings offering versatile use. Inside, the main level includes common areas, one bedroom and a half bath, while the second floor provides additional living space with two potential bedrooms and a full bath. Ideal for those seeking room to spread out with a touch of country character, all just a short drive from town conveniences!