403 Eagle DrCovingtonIN47932
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderInvestors who value predictability will appreciate 403 Eagle Dr, Covington, IN, 47932 in Covington. At $381,500 it earns $2,512/mo in rent and distributes $222/mo to the owner after the $1,715/mo payment, a consistent 7.9% yield. DSCR 1.46 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $105,401 in value; $3,514/yr in principal paydown compounds ownership stake. Total projected return: $158,707.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.9% | 7.5% |
| Monthly Cash Flow | $222 | $150 |
City averages based on Covington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,512 |
| Total Monthly Debt Service | $2,138 |
| DSCR Ratio | 1.17x |
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.
Single Family
Built in 2021
0.59 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47932, Covington, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,441 (100%) |
| Owner Occupied HU | 1,793 (73.5%) |
| Renter Occupied HU | 480 (19.7%) |
| Vacant Housing Units | 168 ( 6.9%) |
| Median Home Value | $176,518 |
| Average Home Value | $198,095 |
Housing Distribution
Address Breakdown
Residential
2,405
Single Family
2,369
Multi-Family
36
Businesses
210
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
Single Family
Built in 2021
0.59 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47932, Covington, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,441 (100%) |
| Owner Occupied HU | 1,793 (73.5%) |
| Renter Occupied HU | 480 (19.7%) |
| Vacant Housing Units | 168 ( 6.9%) |
| Median Home Value | $176,518 |
| Average Home Value | $198,095 |
Housing Distribution
Address Breakdown
Residential
2,405
Single Family
2,369
Multi-Family
36
Businesses
210
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices