401 W 3rd StFairmountIN46928
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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
Investment Highlights
Rental property for sale in Fairmount at 401 W 3rd St, Fairmount, IN, 46928 generates $1,938/mo in rent and, after a $1,196/mo payment, leaves $471/mo in cash flow. Total monthly income is $1,938/mo, and annual cash flow is $5,654/yr on $81,002 invested. Return on cash invested sits at 26.89% in year one, and rental yield is 9.52% on a $244,350 entry. Equity gained on principal adds $1,577/yr, while 5% annual appreciation builds toward $67,509 over five years. Five-year ROI reaches 140.09% and total cumulative return in cash sums $113,472. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,938/mo property income rather than buyer’s personal income.
Single Family
Built in 1954
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46928, Fairmount, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,077 (100%) |
| Owner Occupied HU | 1,510 (72.7%) |
| Renter Occupied HU | 394 (19.0%) |
| Vacant Housing Units | 173 ( 8.3%) |
| Median Home Value | $142,808 |
| Average Home Value | $185,599 |
Housing Distribution
Address Breakdown
Residential
1,998
Single Family
1,960
Multi-Family
38
Businesses
120
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Listed by: Joe Schroder • RE/MAX Realty One
Mls Name: IRMLS
Mls Provider:
Mls ID: #202525308
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.