401 W Grissom AveMitchellIN47446
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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 Mitchell at 401 W Grissom Ave, Mitchell, IN, 47446 generates $1,624/mo in rent and, after a $1,125/mo payment, leaves $244/mo in cash flow. Total monthly income is $1,624/mo, and annual cash flow is $2,930/yr on $76,212 invested. Return on cash invested sits at 23.75% in year one, and rental yield is 8.48% on a $229,900 entry. Equity gained on principal adds $1,484/yr, while 5% annual appreciation builds toward $63,517 over five years. Five-year ROI reaches 123.29% and total cumulative return in cash sums $93,959. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,624/mo property income rather than buyer’s personal income.
Single Family
Built in 1949
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47446, Mitchell, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,285 (100%) |
| Owner Occupied HU | 3,046 (71.1%) |
| Renter Occupied HU | 767 (17.9%) |
| Vacant Housing Units | 472 (11.0%) |
| Median Home Value | $180,587 |
| Average Home Value | $220,742 |
Housing Distribution
Address Breakdown
Residential
4,131
Single Family
4,075
Multi-Family
56
Businesses
276
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