4927 W Cedar Cove Way #13, New Palestine, IN, 46163 | 6.97% Rental Yield

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4927 W Cedar Cove Way #13, New Palestine, IN, 46163 | 6.97% 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

Rental property for sale in New Palestine at 4927 W Cedar Cove Way #13, New Palestine, IN, 46163 generates $1,800/mo in rent, after a $1,517/mo payment. Total monthly income is $1,800/mo. Return on cash invested sits at 19.2% in year one, and rental yield is 6.97% on a $310,000 entry. Equity gained on principal adds $2,000/yr, while 5% annual appreciation builds toward $85,647 over five years. Five-year ROI reaches 98.83% and total cumulative return in cash sums $101,563. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,800/mo property income rather than buyer’s personal income.

Condo

Built in 1998

N/A lot

$N/A/sqft

No HOA

More details about the property

Discover peaceful living in this gorgeous 3-bedroom, 2-bath condo located in the desirable Cedar Creek community. Perfectly updated and ready for you to move in, this home offers comfort, style, and a stunning waterfront view. Enjoy your morning coffee or evening relaxation on the beautiful 15' x 8' glass-enclosed porch, featuring heated floors and offering a serene, unobstructed view overlooking a tranquil pond. The spacious great room and kitchen boast durable Luxury LVT flooring, creating a modern, seamless look. A cozy gas fireplace in the great room provides warmth and ambiance. Lights and ceiling fans throughout the home add convenience and style. The convenient laundry room is ideally located just off the kitchen. A 2-car attached garage provides easy access and ample storage space. Major upgrades include windows, a pressure tank, a well pump, and a deck floor, as well as a water filtration and softening system. Don't miss the chance to own this move-in-ready Cedar Creek gem!

Neighborhood Data

Neighborhood data shown for ZIP Code: 46163, New Palestine, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	5,670 (100%)
Owner Occupied HU	4,772 (84.2%)
Renter Occupied HU	714 (12.6%)
Vacant Housing Units	184 ( 3.2%)
Median Home Value	$330,678
Average Home Value	$356,738