403 S Melville StRensselaerIN47978
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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 Rensselaer at 403 S Melville St, Rensselaer, IN, 47978 generates $1,794/mo in rent and, after a $895/mo payment, leaves $684/mo in cash flow. Total monthly income is $1,794/mo, and annual cash flow is $8,209/yr on $60,631 invested. Return on cash invested sits at 33.45% in year one, and rental yield is 11.77% on a $182,900 entry. Equity gained on principal adds $1,180/yr, while 5% annual appreciation builds toward $50,532 over five years. Five-year ROI reaches 175.38% and total cumulative return in cash sums $106,335. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,794/mo property income rather than buyer’s personal income.
Single Family
Built in 1954
0.45 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47978, Rensselaer, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,710 (100%) |
| Owner Occupied HU | 3,173 (67.4%) |
| Renter Occupied HU | 1,190 (25.3%) |
| Vacant Housing Units | 347 ( 7.4%) |
| Median Home Value | $207,764 |
| Average Home Value | $254,811 |
Housing Distribution
Address Breakdown
Residential
4,454
Single Family
4,324
Multi-Family
130
Businesses
430
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