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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Monon at 505 W Broadway St, Monon, IN, 47959 offers $1,314/mo rent that, after a $915/mo payment, leaves $177/mo cash flow. Total monthly income is $1,314/mo, and annual cash flow is $2,127/yr on $61,991 cash. Return on cash invested measures 23.34% in year one, and rental yield stands at 8.43% at a $187,000 entry. Equity gained on principal adds $1,207/yr while 5% annual appreciation compounds into $51,665 by year five. Five-year ROI records 121.17% and total cumulative return in cash reaches $75,114. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,314/mo property income versus a $915/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1945
9,565 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 47959, Monon, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,167 (100%) |
| Owner Occupied HU | 688 (59.0%) |
| Renter Occupied HU | 298 (25.5%) |
| Vacant Housing Units | 181 (15.5%) |
| Median Home Value | $143,883 |
| Average Home Value | $170,356 |
Residential
834
Single Family
834
Multi-Family
0
Businesses
65
Date | Event | Price |
|---|---|---|
| 2024-10-07 | Sold | $187,000 |
| 2024-09-04 | Listed for sale | $187,000 |
| 2024-04-29 | Sold | $105,900 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-10-24 | $1726.00 | N/A | $115,600 | 33.95% |
| 2023-10-24 | $1726.00 | 8.42% | $86,300 | N/A |
| 2022-10-24 | $1592.00 | 5.85% | $86,300 | 8.42% |
Listed by: Kathleen Bassett • Redlow Group
Mls Name: IRMLS
Mls Provider:
Mls ID: #202433838
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
