502 E South StCenterpointIN47840
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThis Centerpoint rental at 502 E South St, Centerpoint, IN, 47840 sits in the solid-income band: 9.94% gross yield, $2,362/mo rent, $651/mo net after the $1,282/mo debt service, DSCR 1.84. Entry price of $285,000 is well-calibrated for the income it produces. Ziffy Mortgage finances this type of asset on rental income alone, no tax returns, no U.S. credit profile. Projected five-year appreciation of $78,740 and $2,625/yr in principal reduction bring total cumulative return to $149,759.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.9% | 8.0% |
| Monthly Cash Flow | $651 | $250 |
City averages based on Centerpoint market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,362 |
| Total Monthly Debt Service | $1,597 |
| DSCR Ratio | 1.48x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1870
0.74 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47840, Centerpoint, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 662 (100%) |
| Owner Occupied HU | 504 (76.1%) |
| Renter Occupied HU | 92 (13.9%) |
| Vacant Housing Units | 66 ( 10.0%) |
| Median Home Value | $199,219 |
| Average Home Value | $255,640 |
Housing Distribution
Address Breakdown
Residential
592
Single Family
592
Multi-Family
0
Businesses
31
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1870
0.74 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47840, Centerpoint, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 662 (100%) |
| Owner Occupied HU | 504 (76.1%) |
| Renter Occupied HU | 92 (13.9%) |
| Vacant Housing Units | 66 ( 10.0%) |
| Median Home Value | $199,219 |
| Average Home Value | $255,640 |
Housing Distribution
Address Breakdown
Residential
592
Single Family
592
Multi-Family
0
Businesses
31
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: THAAR
Mls ID: #109243