507 W Oak St, Mitchell, IN, 47446 | $244/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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507 W Oak St, Mitchell, IN, 47446 | $244/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 Mitchell at 507 W Oak St, Mitchell, IN, 47446 priced at $120,000 converts $964/mo rent into $244/mo cash flow after a $587/mo obligation. Total monthly income equals $964/mo, and annual cash flow totals $2,928/yr on $39,780 invested. Return on cash invested prints 27.27% in year one, and rental yield reads 9.64% against a $120,000 entry. Equity gained on principal adds $774/yr, while 5% annual appreciation compiles into $33,154 by year five. Five-year ROI reaches 142.07% and total cumulative return in cash sums $56,515. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $964/mo property income covering a $587/mo payment, not borrower’s personal income.

Single Family

Built in 1916

8,276 sqft lot

$N/A/sqft

No HOA

More details about the property

This cozy 2 bedroom, 1 bathroom home is full of charm and move-in ready! Perfectly situated on a corner lot, it features an adorable backyard thats just waiting to be enjoyed. Inside, youll find thoughtful updates including all new joists, subfloor, and flooring in the kitchen, plus updated flooring and light fixtures throughout. Though small in size, the home offers a warm and inviting feelmaking it an excellent option for anyone looking for easy-to-maintain living. With its convenient Mitchell location and recent improvements already taken care of, all thats left to do is move in and make it yours! Dont miss this sweet and affordable opportunityschedule your private showing today!

Neighborhood Data

Neighborhood data shown for ZIP Code: 47446, Mitchell, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	4,285 (100%)
Owner Occupied HU	3,046 (71.1%)
Renter Occupied HU	767 (17.9%)
Vacant Housing Units	472 (11.0%)
Median Home Value	$180,587
Average Home Value	$220,742