








A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |


Rental property for sale in Spencer at 45 Flatwoods Rd, Spencer, IN, 47460 priced at $424,900 converts $3,257/mo rent into $706/mo cash flow after a $2,080/mo obligation. Total monthly income equals $3,257/mo, and annual cash flow totals $8,473/yr on $140,854 invested. Return on cash invested prints 25.92% in year one, and rental yield reads 9.2% against a $424,900 entry. Equity gained on principal adds $2,742/yr, while 5% annual appreciation compiles into $117,392 by year five. Five-year ROI reaches 134.88% and total cumulative return in cash sums $189,981. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,257/mo property income covering a $2,080/mo payment, not borrower’s personal income.
Single Family
Built in 1986
0.73 Acres lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 47460, Spencer, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,190 (100%) |
| Owner Occupied HU | 3,784 (72.9%) |
| Renter Occupied HU | 949 (18.3%) |
| Vacant Housing Units | 457 ( 8.8%) |
| Median Home Value | $187,057 |
| Average Home Value | $214,772 |
Residential
4,901
Single Family
4,899
Multi-Family
2
Businesses
417
Date | Event | Price |
|---|---|---|
| 2025-04-09 | Listed for sale | $424,900 |
| 2023-06-09 | Sold | $359,900 |
| 2023-05-08 | Pending sale | $359,900 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-04-10 | $2233.88 | -15.97% | $393,900 | 21.39% |
| 2023-04-10 | $2658.50 | 1.56% | $324,500 | 11.47% |
| 2022-04-10 | $2617.76 | 14.01% | $291,100 | 11.96% |



Listed by: Chris Wesley • RE/MAX Select Associates, Inc.
Mls Name: IRMLS
Mls Provider:
Mls ID: #202512034
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.