4905 W State Road 38, New Castle, IN, 47362 | 1.98% Rental Yield

Save Search

Filters Applied

EditEdit Filters

Filters Applied:

Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

EditEdit Filters

4905 W State Road 38, New Castle, IN, 47362 | 1.98% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

Get Pre-Approved

Nearby investment properties with comparable rents

3 Bed
3 Bath
3600 sft

3255 S Greensboro Pike, New Castle, IN, 47362

3 Bed
2 Bath
2192 sft

1334 S Onyx Ct, New Castle, IN, 47362

3 Bed
4 Bath
4000 sft

627 S Clearview Dr, New Castle, IN, 47362

3 Bed
2 Bath
3584 sft

3806 S State Road 3, New Castle, IN, 47362

Nearby investment properties with comparable prices

4 Bed
1 Bath
2488 sft

7916 S Grant City Rd, Knightstown, IN, 46148

3 Bed
3 Bath
2173 sft

6557 N 500 E, Greenfield, IN, 46140

3 Bed
3 Bath
2173 sft

6557 N 500th Rd E, Greenfield, IN, 46140

3 Bed
2 Bath
2002 sft

5140 N 800 E, Wilkinson, IN, 46186

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

Explore more listings using simple english

Investment Highlights

Investment property for sale in New Castle at 4905 W State Road 38, New Castle, IN, 47362 offers a 1.98% rental yield on a $962,427 purchase with $1,590/mo rent. 19% in year one. Equity gained on principal adds $6,210/yr while 5% annual appreciation supports $265,901 over five years. Portfolio math shows five-year ROI at 18.28% and total cumulative return in cash at $57,867. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,590/mo property income against a $4,711/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 2025

17.26 Acres lot

$N/A/sqft

No HOA

More details about the property

Introducing The Bedford, the latest proposed build from Joyner Homes. Beautifully crafted to blend thoughtful design with everyday comfort. A home built for real life, with character in every detail. From the welcoming front porch to the open-concept great room, every inch of this home beautifully blends character and functionality. The kitchen serves as the heart of the home, featuring a large island, soft-close cabinetry, quartz counters, and a walk-in pantry perfect for busy days and lively gatherings. The primary suite offers a private retreat with a spa-inspired bath and spacious walk-in closet. Home office, two additional bedrooms, and an open layout make it easy to live, work, and relax just the way you want. Step outside to a covered veranda overlooking a spacious lawn, ideal for morning coffee or evenings with friends. Proposed build site is 17.26 acres of prime A-1 zoned land just 4 miles west of New Castle on SR 38. This property offers level spaces, gentle rolling hills, and mature wooded acreage. Surrounded by picturesque farm ground, this land provides both open views and natural privacy. Home is not yet built. Cost of proposed build is $567,427. Cost of land is $395,000. Total actual cost may vary based upon buyer's finishes and design. Total actual cost may vary based upon buyer's finishes and design choices. Joyner Homes could also build any other model on this land. Model Home pictured is available for in-person tour in Greenfield. No site improvements are currently completed.