407 S Colony DrGarrettIN46738
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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 Garrett at 407 S Colony Dr, Garrett, IN, 46738 priced at $270,000 converts $2,443/mo rent into $822/mo cash flow after a $1,322/mo obligation. Total monthly income equals $2,443/mo, and annual cash flow totals $9,861/yr on $89,505 invested. Return on cash invested prints 30.93% in year one, and rental yield reads 10.86% against a $270,000 entry. Equity gained on principal adds $1,742/yr, while 5% annual appreciation compiles into $74,596 by year five. Five-year ROI reaches 161.69% and total cumulative return in cash sums $144,721. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,443/mo property income covering a $1,322/mo payment, not borrower’s personal income.
Single Family
Built in 1975
0.65 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46738, Garrett, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,457 (100%) |
| Owner Occupied HU | 2,591 (74.9%) |
| Renter Occupied HU | 727 (21.0%) |
| Vacant Housing Units | 139 ( 4.0%) |
| Median Home Value | $197,979 |
| Average Home Value | $219,234 |
Housing Distribution
Address Breakdown
Residential
3,317
Single Family
3,217
Multi-Family
100
Businesses
233
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Listed by: Gary Lee • North Eastern Group Realty
Mls Name: IRMLS
Mls Provider:
Mls ID: #202520863
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.