416 E Grove StWheatfieldIN46392
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 416 E Grove St, Wheatfield, IN, 46392 in Wheatfield. Priced at $229,900, it generates $2,008/mo in gross rent and $628/mo in net monthly cash flow, a 10.48% yield that comfortably supports the 1.84 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $7,531. Five-year appreciation: $63,517. Equity from principal paydown: $1,927/yr. Total projected cumulative return: $123,097.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.5% | 7.0% |
| Monthly Cash Flow | $628 | $150 |
City averages based on Wheatfield market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,008 |
| Total Monthly Debt Service | $1,345 |
| DSCR Ratio | 1.49x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.5% rate / 30-yr fixed, 25% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1929
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46392, Wheatfield, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,357 (100%) |
| Owner Occupied HU | 2,717 (80.9%) |
| Renter Occupied HU | 515 (15.3%) |
| Vacant Housing Units | 125 ( 3.7%) |
| Median Home Value | $247,317 |
| Average Home Value | $281,088 |
Housing Distribution
Address Breakdown
Residential
3,109
Single Family
3,109
Multi-Family
0
Businesses
85
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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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Listed by: Daniel Walstra • Countryside Realty
Mls Name: NIRA as distributed by MLS GRID
Mls Provider:
Mls ID: #847927
