506 S 3rd StFrankfortIN46041
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 506 S 3rd St, Frankfort, IN, 46041 in Frankfort at $160,000 earns $1,154/mo in rent and nets $194/mo after the $719/mo payment, a 8.66% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $44,205 over five years. Ziffy Mortgage underwrites this on a 1.61 DSCR without U.S. credit history. With $1,474/yr in principal paydown, total projected return reaches $73,024.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.7% | 5.5% |
| Monthly Cash Flow | $194 | $400 |
City averages based on Frankfort market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,154 |
| Total Monthly Debt Service | $897 |
| DSCR Ratio | 1.29x |
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 1880
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46041, Frankfort, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,792 (100%) |
| Owner Occupied HU | 6,307 (64.4%) |
| Renter Occupied HU | 2,766 (28.2%) |
| Vacant Housing Units | 719 ( 7.3%) |
| Median Home Value | $177,745 |
| Average Home Value | $249,421 |
Housing Distribution
Address Breakdown
Residential
9,312
Single Family
8,983
Multi-Family
329
Businesses
701
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 1880
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46041, Frankfort, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,792 (100%) |
| Owner Occupied HU | 6,307 (64.4%) |
| Renter Occupied HU | 2,766 (28.2%) |
| Vacant Housing Units | 719 ( 7.3%) |
| Median Home Value | $177,745 |
| Average Home Value | $249,421 |
Housing Distribution
Address Breakdown
Residential
9,312
Single Family
8,983
Multi-Family
329
Businesses
701
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Shelby Myers • Find Your Bliss Real Estate
Mls Name: IRMLS
Mls Provider:
Mls ID: #202519511
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.