477 Woods Lane, Mitchell, IN, 47446 | 7.2% Rental Yield

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477 Woods Lane, Mitchell, IN, 47446 | 7.2% 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

Investment property for sale in Mitchell at 477 Woods Lane, Mitchell, IN, 47446 at $535,000 posts ROI 20.03% with from $3,208/mo rent. Total monthly income equals $3,208/mo. Return on cash invested measures 20.03% and rental yield reads 7.2% at the current $535,000. Equity gained on principal adds $3,452/yr, and 5% annual appreciation supports $147,811 by year five. Five-year ROI prints 103.25% and total cumulative return in cash totals $181,732. You can finance with Ziffy Mortgage’s DSCR loan, which relies on $3,208/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).

Single Family

Built in 1897

5 Acres lot

$N/A/sqft

No HOA

More details about the property

Welcome to the iconic Morgan Keane Castle a restored Victorian masterpiece nestled in the heart of Indiana farmland. This extraordinary historic home blends timeless charm with modern updates and sits on beautifully maintained grounds that offer both privacy and potential. From the moment you arrive, you're greeted by intricate Victorian architecture, a custom exterior color palette, a charming wraparound porch, butterfly bushes, and the estates signature turret with sweeping countryside views. Inside, the grand foyer impresses with 22-foot ceilings, a dramatic staircase, and an original stained-glass window that fills the space with vibrant natural light. The home showcases exceptional craftsmanship throughout: original pocket doors, 11-foot ceilings, restored interior shutters, preserved woodwork, ornate crown molding, and statement lighting. The gourmet kitchen includes a spacious butlers pantry, perfect for entertaining or hosting large gatherings. Outdoors, enjoy garden plots, a castle-like chicken coop, a bird sanctuary, and a stunning Dutch-style post-and-beam barn with a massive hay loft. Whether you're dreaming of a private estate, a charming bed & breakfast, or an event venue, this property offers unmatched character and opportunity. Truly one-of-a-kind experience the beauty, history, and elegance of the Morgan Keane Castle.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47446, Mitchell, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	4,285 (100%)
Owner Occupied HU	3,046 (71.1%)
Renter Occupied HU	767 (17.9%)
Vacant Housing Units	472 (11.0%)
Median Home Value	$180,587
Average Home Value	$220,742