508 Cedar Dr, New Castle, IN, 47362 | $120/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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508 Cedar Dr, New Castle, IN, 47362 | $120/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 New Castle at 508 Cedar Dr, New Castle, IN, 47362 priced at $164,900 converts $1,110/mo rent into $120/mo cash flow after a $807/mo obligation. Total monthly income equals $1,110/mo, and annual cash flow totals $1,443/yr on $54,664 invested. Return on cash invested prints 22.55% in year one, and rental yield reads 8.08% against a $164,900 entry. Equity gained on principal adds $1,064/yr, while 5% annual appreciation compiles into $45,559 by year five. Five-year ROI reaches 116.84% and total cumulative return in cash sums $63,868. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,110/mo property income covering a $807/mo payment, not borrower’s personal income.

Single Family

Built in 1948

0.37 Acres lot

$N/A/sqft

No HOA

More details about the property

Welcome to 508 Cedar Drive, a charming and well-kept 2-bedroom, 1-bath ranch home offering 1,255 square feet of comfortable living space in one of New Castle's most desirable neighborhoods. Step inside to a warm, inviting layout featuring a spacious family room addition off the back, perfect for movie nights, entertaining, or simply relaxing with a good book. The covered front porch adds curb appeal and a cozy spot to enjoy morning coffee, while the covered patio overlooks a fully fenced-in backyard shaded by mature trees - ideal for outdoor gatherings or peaceful afternoons. The home also includes a 1.5-car garage, offering convenient storage and parking. Located just minutes from shopping, dining, and local amenities, this property blends small-town charm with everyday convenience. If you've been searching for a well-maintained home in a fantastic location, 508 Cedar Dr. checks all the boxes.