4942 W 1200 S, Covington, IN, 47932 | $263/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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4942 W 1200 S, Covington, IN, 47932 | $263/mo Cash Flow | Ziffy

For Sale

Listed for sale 3 days ago

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 Covington at 4942 W 1200 S, Covington, IN, 47932 listed at $199,000 pairs $1,458/mo rent with a $974/mo payment to leave $263/mo cash flow. Total monthly income runs $1,458/mo, and annual cash flow reaches $3,161/yr on $65,969 cash to close. Return on cash invested measures 24.7% in year one, and rental yield registers 8.79% at a $199,000 basis. Equity gained on principal adds $1,284/yr, and annual property appreciation at 5% supports $54,980 by year five. Five-year ROI tracks 128.34% and total cumulative return in cash totals $84,666. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,458/mo property income relative to a $974/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Single Family

Built in 1920

0.43 Acres lot

$N/A/sqft

No HOA

More details about the property

Don't wait until it gets warm to get settled into this riverfront beauty! This 2 bedroom, 1 bath home is nestled on nearly half an acre of waterfront property, with walking access straight to the Wabash River. Featuring a new well, updated plumbing, electrical, and heating, this home is ready for the incoming seasons and well equipped for year round living! The large 30x30 garage is perfect for storing larger vehicles or even a boat, and it may be detached, but it's just a few steps away from the home's front door, connected by a beautiful wrap-around deck that is perfect for the warmer months.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47932, Covington, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	2,441 (100%)
Owner Occupied HU	1,793 (73.5%)
Renter Occupied HU	480 (19.7%)
Vacant Housing Units	168 ( 6.9%)
Median Home Value	$176,518
Average Home Value	$198,095