427 S Spring St, Evansville, IN, 47714 | 5.66% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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427 S Spring St, Evansville, IN, 47714 | 5.66% 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 Evansville at 427 S Spring St, Evansville, IN, 47714 priced at $279,900 pairs $1,320/mo rent with after a $1,370/mo payment. Total monthly income equals $1,320/mo. Return on cash invested is 15.25% in year one, and rental yield stands at 5.66% on a $279,900 basis. Equity gained on principal adds $1,806/yr, and 5% annual appreciation accumulates to $77,331 by year five. Five-year ROI measures 77.62% and total cumulative return in cash reaches $72,025. For financing, Ziffy Mortgage’s DSCR program evaluates $1,320/mo property income against a $1,370/mo payment instead of your W2s, 1099s, or Tax returns.

Single Family

Built in 1940

5,749 sqft lot

$N/A/sqft

No HOA

More details about the property

Don't miss this one of a kind near U of E. This Charming home is waiting for new owners. This 2 bedroom 2 full bath home offers so much and the Curb Appeal is just the starting point! The great neighborhood and beautiful streets will make you want to come inside! The spacious, inviting Great Room boasts a beamed ceiling, crown molding and a wood burning fireplace, plus custom shutters and a formal dining room. The eat in kitchen is a great space to hang with friends and family and all appliances are included. This space also provides access to the patio, fenced backyard and Trex deck. The perfect place to relax with your morning cup of coffee and a sweet spot to watch the birds and nature. Boasting a great bonus is the detached garage with man cave or flex space. This space would be perfect for a quiet office, or studio. A full updated bath and a large bedroom with hardwood flooring completes the main level. Upstairs you will find the second bedroom, an office or sitting area and a large bath with claw foot tub and etched half noon window and black flooring set it off! The unfinished basement provides wonderful storage space and could be finished for additional living space or a theatre room. Per owner the roof was replaced in 2019 and the following updates are as listed: New High Efficiency HVAC November 2024, New Plumbing Matrix 11/24, New Water Heater 11/24, Added Exhaust fan in main level bathroom, New Refrigerator 11/24, Tree trimming and house power washed 10/25, Updated main level bathroom 2022. This home is ready for you!

Neighborhood Data

Neighborhood data shown for ZIP Code: 47714, Evansville, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	15,625 (100%)
Owner Occupied HU	7,947 (50.9%)
Renter Occupied HU	5,921 (37.9%)
Vacant Housing Units	1,757 (11.2%)
Median Home Value	$150,643
Average Home Value	$196,114