507 N Cherry St, Columbus, IN, 47201 | $349/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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507 N Cherry St, Columbus, IN, 47201 | $349/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Columbus at 507 N Cherry St, Columbus, IN, 47201 priced at $179,900 converts $1,429/mo rent into $349/mo cash flow after a $881/mo obligation. Total monthly income equals $1,429/mo, and annual cash flow totals $4,183/yr on $59,637 invested. Return on cash invested prints 26.92% in year one, and rental yield reads 9.53% against a $179,900 entry. Equity gained on principal adds $1,161/yr, while 5% annual appreciation compiles into $49,703 by year five. Five-year ROI reaches 140.24% and total cumulative return in cash sums $83,637. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,429/mo property income covering a $881/mo payment, not borrower’s personal income.

Single Family

Built in 1940

6,098 sqft lot

$N/A/sqft

No HOA

More details about the property

Welcome to this delightful two-bedroom, one-bathroom home greets you with fresh paint throughout and beautiful new vinyl plank flooring that flows seamlessly from room to room. The kitchen is a true highlight, offering clean lines and abundant cabinet space.Both bedrooms provide comfortable living space. Step outside to discover a partially fenced yard that offers both privacy and openness. Two convenient storage sheds provide excellent solutions for lawn equipment, seasonal items, or hobby supplies. The large detached garage is a standout feature, offering generous space for vehicles, workshops, or additional storage needs. This property combines the cozy appeal of bungalow living with practical amenities that modern homeowners appreciate. The blend of recent improvements and established character creates an inviting atmosphere throughout. The outdoor spaces complement the interior perfectly, providing options for relaxation, entertaining, or pursuing various interests.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47201, Columbus, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	20,886 (100%)
Owner Occupied HU	12,483 (59.8%)
Renter Occupied HU	6,801 (32.6%)
Vacant Housing Units	1,602 ( 7.7%)
Median Home Value	$258,047
Average Home Value	$310,103