508 Main St APT 2FEvansvilleIN47708
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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
Investment Highlights
Investment property for sale in Evansville at 508 Main St APT 2F, Evansville, IN, 47708 offers a 9.5% rental yield on a $219,500 purchase with $1,738/mo rent. Total monthly income registers $1,738/mo, and a $1,074/mo payment leaves $17/mo available for distribution. Annual cash flow reaches $200/yr on $72,764 to close, and return on cash invested stands at 20.18% in year one. Equity gained on principal adds $1,416/yr while 5% annual appreciation supports $60,644 over five years. Portfolio math shows five-year ROI at 106.5% and total cumulative return in cash at $77,494. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,738/mo property income against a $1,074/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2006
N/A lot
$N/A/sqft
$396 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47708, Evansville, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 696 (100%) |
| Owner Occupied HU | 86 (12.4%) |
| Renter Occupied HU | 349 (50.1%) |
| Vacant Housing Units | 261 (37.5%) |
| Median Home Value | $263,889 |
| Average Home Value | $301,163 |
Housing Distribution
Address Breakdown
Residential
461
Single Family
263
Multi-Family
198
Businesses
508
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Listed by: Carolyn S McClintock • F.C. TUCKER EMGE
Mls Name: IRMLS
Mls Provider:
Mls ID: #202515399
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.