405 N Washington StNorth ManchesterIN46962
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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 North Manchester at 405 N Washington St, North Manchester, IN, 46962 priced at $123,000 converts $1,301/mo rent into $563/mo cash flow after a $602/mo obligation. Total monthly income equals $1,301/mo, and annual cash flow totals $6,752/yr on $40,775 invested. Return on cash invested prints 36.47% in year one, and rental yield reads 12.69% against a $123,000 entry. Equity gained on principal adds $794/yr, while 5% annual appreciation compiles into $33,983 by year five. Five-year ROI reaches 191.45% and total cumulative return in cash sums $78,061. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,301/mo property income covering a $602/mo payment, not borrower’s personal income.
Single Family
Built in 1952
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46962, North Manchester, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,818 (100%) |
| Owner Occupied HU | 2,537 (66.4%) |
| Renter Occupied HU | 941 (24.6%) |
| Vacant Housing Units | 340 ( 8.9%) |
| Median Home Value | $169,696 |
| Average Home Value | $234,758 |
Housing Distribution
Address Breakdown
Residential
3,480
Single Family
3,416
Multi-Family
64
Businesses
281
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Listed by: Charles Trout • Patton Hall Real Estate
Mls Name: IRMLS
Mls Provider:
Mls ID: #202516126
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.