407 W State St, Pendleton, IN, 46064 | 6.1% Rental Yield

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407 W State St, Pendleton, IN, 46064 | 6.1% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Pendleton at 407 W State St, Pendleton, IN, 46064 priced at $450,000 pairs $2,286/mo rent with after a $2,203/mo payment. Total monthly income equals $2,286/mo. Return on cash invested is 16.56% in year one, and rental yield stands at 6.1% on a $450,000 basis. Equity gained on principal adds $2,904/yr, and 5% annual appreciation accumulates to $124,327 by year five. Five-year ROI measures 84.69% and total cumulative return in cash reaches $126,330. For financing, Ziffy Mortgage’s DSCR program evaluates $2,286/mo property income against a $2,203/mo payment instead of your W2s, 1099s, or Tax returns.

Single Family

Built in 1938

9,513 sqft lot

$N/A/sqft

No HOA

More details about the property

Newly remodeled, this cottage style home right in the heart of Pendleton will charm your socks off! Turn on your fireplace in the den with a click of a button, & curl up with a good book. Enjoy the covered deck and side patio with friends. Take a walk into the historic downtown of Pendleton, or the beautiful Falls Park and creek. Have fun walking your kiddos back and forth to school at Pendleton Elementary. Beautiful original hardwood floors throughout the home (except for newly tiled kitchen, family room, and remodeled master bedroom and walk-in closet). Original curved cottage-style front door, and original doors and hardware throughout the home! Basement was going to be our next project- dry and ready to finish, we have a tv room currently down there. Refrigerator in basement included. LG Refrigerator, LG gas stove, LG dish washer, & microwave are also included in the sale. Commercial quality washer and dryer negotiable. A perfect home for families and entertaining, youll fall in love with this beautiful home!

Neighborhood Data

Neighborhood data shown for ZIP Code: 46064, Pendleton, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	6,339 (100%)
Owner Occupied HU	5,147 (81.2%)
Renter Occupied HU	879 (13.9%)
Vacant Housing Units	313 ( 4.9%)
Median Home Value	$283,028
Average Home Value	$322,206