503 Bond StNorth ManchesterIN46962
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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 North Manchester at 503 Bond St, North Manchester, IN, 46962 uses $81,184 cash to close to unlock $2,251/yr annual cash flow and $188/mo monthly cash flow. Total monthly income runs $1,658/mo, and a $1,199/mo payment keeps the spread at $188/mo. Purchase price stands at $244,900, and rental yield measures 8.12% with $1,658/mo rent. Return on cash invested shows 22.68% in year one, and 5% annual appreciation builds toward $67,661 over five years. Five-year ROI reaches 117.49% and total cumulative return in cash records $95,381. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,658/mo property income covering a $1,199/mo payment rather than investor’s personal income.
Single Family
Built in 1920
9,844 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46962, North Manchester, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,818 (100%) |
| Owner Occupied HU | 2,537 (66.4%) |
| Renter Occupied HU | 941 (24.6%) |
| Vacant Housing Units | 340 ( 8.9%) |
| Median Home Value | $169,696 |
| Average Home Value | $234,758 |
Housing Distribution
Address Breakdown
Residential
3,480
Single Family
3,416
Multi-Family
64
Businesses
281
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Listed by: Erik Hand • Select Realty, LLC
Mls Name: IRMLS
Mls ID: #202532055