505 Race StHopeIN47246
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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
Rental property for sale in Hope at 505 Race St, Hope, IN, 47246 generates $1,696/mo in rent and, after a $930/mo payment, leaves $555/mo in cash flow. Total monthly income is $1,696/mo, and annual cash flow is $6,665/yr on $62,985 invested. Return on cash invested sits at 30.49% in year one, and rental yield is 10.71% on a $190,000 entry. Equity gained on principal adds $1,226/yr, while 5% annual appreciation builds toward $52,494 over five years. Five-year ROI reaches 159.37% and total cumulative return in cash sums $100,380. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,696/mo property income rather than buyer’s personal income.
Single Family
Built in 1975
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47246, Hope, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,770 (100%) |
| Owner Occupied HU | 1,343 (75.9%) |
| Renter Occupied HU | 306 (17.3%) |
| Vacant Housing Units | 121 ( 6.8%) |
| Median Home Value | $233,300 |
| Average Home Value | $239,058 |
Housing Distribution
Address Breakdown
Residential
1,659
Single Family
1,659
Multi-Family
0
Businesses
116
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