416 6th StCovingtonIN47932
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayGlobal investors willing to prioritise equity over near-term yield will find 416 6th St, Covington, IN, 47932 in Covington worth study. Rental yield 2.44%. The 2.44% gross yield is below cash-flow benchmarks at $324,999, but 5% annual appreciation, adding $89,791 over five years, frames this as a capital growth position. Rent of $660/mo partially offsets the $1,461/mo payment. Ziffy Mortgage finances appreciation-play properties (0.45 DSCR) for non-U.S. residents without domestic income documentation; a 30–35% down payment maximises coverage. Total projected return: $39,929.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2.4% | 7.5% |
| Monthly Cash Flow | $(1,291) | $150 |
City averages based on Covington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $660 |
| Total Monthly Debt Service | $1,822 |
| DSCR Ratio | 0.36x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1925
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47932, Covington, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,441 (100%) |
| Owner Occupied HU | 1,793 (73.5%) |
| Renter Occupied HU | 480 (19.7%) |
| Vacant Housing Units | 168 ( 6.9%) |
| Median Home Value | $176,518 |
| Average Home Value | $198,095 |
Housing Distribution
Address Breakdown
Residential
2,405
Single Family
2,369
Multi-Family
36
Businesses
210
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1925
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47932, Covington, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,441 (100%) |
| Owner Occupied HU | 1,793 (73.5%) |
| Renter Occupied HU | 480 (19.7%) |
| Vacant Housing Units | 168 ( 6.9%) |
| Median Home Value | $176,518 |
| Average Home Value | $198,095 |
Housing Distribution
Address Breakdown
Residential
2,405
Single Family
2,369
Multi-Family
36
Businesses
210
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices