402 N College AveSalemIN47167
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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
Investment property for sale in Salem at 402 N College Ave, Salem, IN, 47167 at $128,000 posts ROI 25.37% with $193/mo cash flow from $961/mo rent. Total monthly income equals $961/mo, and annual cash flow records $2,318/yr on $42,432 to close. Return on cash invested measures 25.37% and rental yield reads 9.01% at the current $128,000. Equity gained on principal adds $826/yr, and 5% annual appreciation supports $35,364 by year five. Five-year ROI prints 131.98% and total cumulative return in cash totals $56,003.
You can finance with Ziffy Mortgage’s DSCR loan, which relies on $961/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).
Single Family
Built in 1957
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47167, Salem, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,825 (100%) |
| Owner Occupied HU | 4,832 (70.8%) |
| Renter Occupied HU | 1,431 (21.0%) |
| Vacant Housing Units | 562 ( 8.2%) |
| Median Home Value | $184,381 |
| Average Home Value | $231,011 |
Housing Distribution
Address Breakdown
Residential
6,703
Single Family
6,562
Multi-Family
141
Businesses
505
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