501 E Main St, Loogootee, IN, 47553 | 4.39% Rental Yield

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501 E Main St, Loogootee, IN, 47553 | 4.39% 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 Loogootee at 501 E Main St, Loogootee, IN, 47553 priced at $410,000 converts $1,500/mo rent into after a $2,007/mo obligation. Total monthly income equals $1,500/mo. Return on cash invested prints 11.42% in year one, and rental yield reads 4.39% against a $410,000 entry. Equity gained on principal adds $2,646/yr, while 5% annual appreciation compiles into $113,275 by year five. Five-year ROI reaches 57.08% and total cumulative return in cash sums $77,579. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,500/mo property income covering a $2,007/mo payment, not borrower’s personal income.

Single Family

Built in 1865

1.29 Acres lot

$N/A/sqft

No HOA

More details about the property

This impressive brick home blends old-world craftsmanship with thoughtful updates, offering four bedrooms, three full baths, and a layout filled with charm at every turn. From the moment you step inside, you are greeted by hardwood floors set on the diagonal, tall ceilings, and character details like crown molding, original wood doors, and built-in features. Multiple window seats invite you to relax and enjoy the light-filled rooms. The main floor is designed for both everyday living and entertaining, with two front parlors, a comfortable family room, and a renovated kitchen showcasing exposed brick accents, sleek quartz countertops, and included appliances. You will also find a formal dining room, a sunporch, a laundry room, and a full bath on this level. Upstairs, reached by either the grand front staircase or the butlers stairs, you will discover four bedrooms and two full baths. The primary suite is a retreat of its own, complete with a fireplace, marble-floored bath, walk-in shower, dual vanities, and a coffee bar. The second upstairs bath blends modern touches with vintage appeal, featuring shiplap walls, the original clawfoot tub, and a separate water closet. A breezeway connects the home to a spacious two-car attached garage. Outside, the large corner lot offers plenty of room to gather, with a patio, firepit, and brand-new privacy fence adding to the appeal. This is a property where historic beauty meets modern comfort in a truly inviting way.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47553, Loogootee, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	3,625 (100%)
Owner Occupied HU	2,637 (72.7%)
Renter Occupied HU	680 (18.8%)
Vacant Housing Units	308 ( 8.5%)
Median Home Value	$232,260
Average Home Value	$253,015