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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Marengo at 494 W Spring Street, Marengo, IN, 47140 offers $911/mo rent that, after a $675/mo payment, leaves $83/mo cash flow. Total monthly income is $911/mo, and annual cash flow is $997/yr on $45,747 cash. Return on cash invested measures 22.09% in year one, and rental yield stands at 7.92% at a $138,000 entry. Equity gained on principal adds $890/yr while 5% annual appreciation compounds into $38,127 by year five. Five-year ROI records 114.38% and total cumulative return in cash reaches $52,326. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $911/mo property income versus a $675/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1991
0.82 Acres lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 47140, Marengo, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,184 (100%) |
| Owner Occupied HU | 788 (66.6%) |
| Renter Occupied HU | 263 (22.2%) |
| Vacant Housing Units | 133 (11.2%) |
| Median Home Value | $151,606 |
| Average Home Value | $163,011 |
Residential
1,180
Single Family
1,179
Multi-Family
1
Businesses
72
Date | Event | Price |
|---|---|---|
| 2024-12-06 | Sold | $138,000 |
| 2024-11-04 | Pending sale | $142,500 |
| 2024-10-08 | Price change | $142,500 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2016-10-24 | $348.92 | -10.95% | $28,400 | -17.68% |
| 2014-10-24 | $391.82 | 1.38% | $34,500 | -1.71% |
| 2013-10-24 | $386.48 | -3.51% | $35,100 | -1.96% |
Listed by: Becky Higgins • RE/MAX Advantage
Mls Name: SIRA
Mls Provider:
Mls ID: #202409392
Disclaimer: IDX information is provided exclusively for consumers personal, noncommercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing data is deemed reliable but is not guaranteed accurate by the SIRA MLS.
