451 American Way N APT 1C, Carmel, IN, 46032 | 6.1% Rental Yield

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451 American Way N APT 1C, Carmel, IN, 46032 | 6.1% 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

Total monthly income runs $2,160/mo, and a $2,080/mo payment. Purchase price stands at $425,000, and rental yield measures 6.1% with $2,160/mo rent. Return on cash invested shows 16.58% in year one, and 5% annual appreciation builds toward $117,420 over five years. Five-year ROI reaches 84.73% and total cumulative return in cash records $119,381. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,160/mo property income covering a $2,080/mo payment rather than investor’s personal income.

Condo

Built in 2004

2,178 sqft lot

$N/A/sqft

No HOA

More details about the property

Convenience, convenience, Convenience in this 2 bed 2 bath condo comes with 2 dedicated parking spaces while is in the heart of Carmel just steps away from the summer Farmer's Market, the Palladium, and the Monon Trail! The kitchen with granite and newer appliances overlooks the family and dining areas. The Master Suite has dual sinks, walk-in closet, a soaking tub and walk-in-shower. The Guest Room is perfect for a second office or guests to visit. Relax on the covered Patio.Looking for a 1-level condo with load of convenience, the perfect location, and an elevator? Here you go! AC 4 years old. Washer and dryer included. One of the lowest monthly fees in the community and extra low taxes!

Neighborhood Data

Neighborhood data shown for ZIP Code: 46032, Carmel, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	23,816 (100%)
Owner Occupied HU	13,773 (57.8%)
Renter Occupied HU	8,288 (34.8%)
Vacant Housing Units	1,755 ( 7.4%)
Median Home Value	$512,292
Average Home Value	$642,862