451 N Spring StWabashIN46992
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 451 N Spring St, Wabash, IN, 46992 in Wabash hard to pass up. The 19.94% gross yield on a $117,500 purchase results in $1,952/mo in rent and $1,218/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (3.70). Annual cash flow of $14,616, five-year appreciation of $32,463, and $1,082/yr in equity build-up combine for a projected total cumulative return of $122,968.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 19.9% | 7.5% |
| Monthly Cash Flow | $1,218 | $250 |
City averages based on Wabash market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,952 |
| Total Monthly Debt Service | $688 |
| DSCR Ratio | 2.84x |
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 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2003
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46992, Wabash, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,509 (100%) |
| Owner Occupied HU | 5,049 (67.2%) |
| Renter Occupied HU | 1,690 (22.5%) |
| Vacant Housing Units | 770 (10.3%) |
| Median Home Value | $182,535 |
| Average Home Value | $212,867 |
Housing Distribution
Address Breakdown
Residential
7,142
Single Family
6,935
Multi-Family
207
Businesses
694
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 2003
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46992, Wabash, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,509 (100%) |
| Owner Occupied HU | 5,049 (67.2%) |
| Renter Occupied HU | 1,690 (22.5%) |
| Vacant Housing Units | 770 (10.3%) |
| Median Home Value | $182,535 |
| Average Home Value | $212,867 |
Housing Distribution
Address Breakdown
Residential
7,142
Single Family
6,935
Multi-Family
207
Businesses
694
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Trisha McGowan • Patton Hall Real Estate
Mls Name: IRMLS
Mls Provider:
Mls ID: #202507086
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.