501 E Main StWavelandIN47989
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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
Investment Highlights
Investment property for sale in Waveland at 501 E Main St, Waveland, IN, 47989 offers a 11.81% rental yield on a $169,900 purchase with $1,672/mo rent. Total monthly income registers $1,672/mo, and a $832/mo payment leaves $652/mo available for distribution. Annual cash flow reaches $7,820/yr on $56,322 to close, and return on cash invested stands at 33.79% in year one. Equity gained on principal adds $1,096/yr while 5% annual appreciation supports $46,940 over five years. Portfolio math shows five-year ROI at 177.1% and total cumulative return in cash at $99,746. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,672/mo property income against a $832/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1956
0.99 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47989, Waveland, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 560 (100%) |
| Owner Occupied HU | 407 (72.7%) |
| Renter Occupied HU | 90 (16.1%) |
| Vacant Housing Units | 63 (11.2%) |
| Median Home Value | $203,906 |
| Average Home Value | $280,608 |
Housing Distribution
Address Breakdown
Residential
412
Single Family
412
Multi-Family
0
Businesses
28
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