408 E Hanna StGreencastleIN46135
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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
Investment property for sale in Greencastle at 408 E Hanna St, Greencastle, IN, 46135 uses $38,123 cash to close to unlock $2,298/yr annual cash flow and $192/mo monthly cash flow. Total monthly income runs $882/mo, and a $563/mo payment keeps the spread at $192/mo. Purchase price stands at $115,000, and rental yield measures 9.2% with $882/mo rent. Return on cash invested shows 25.94% in year one, and 5% annual appreciation builds toward $31,772 over five years. Five-year ROI reaches 135% and total cumulative return in cash records $51,465. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $882/mo property income covering a $563/mo payment rather than investor’s personal income.
Single Family
Built in 1960
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46135, Greencastle, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,718 (100%) |
| Owner Occupied HU | 4,723 (61.2%) |
| Renter Occupied HU | 2,134 (27.6%) |
| Vacant Housing Units | 861 (11.2%) |
| Median Home Value | $218,134 |
| Average Home Value | $263,076 |
Housing Distribution
Address Breakdown
Residential
7,144
Single Family
6,852
Multi-Family
292
Businesses
650
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Listed by: Steven Custis • RE/MAX Cornerstone
Mls Name: MIBOR as distributed by MLS GRID
Mls ID: #22058311