511 Alexander PlGarrettIN46738
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowFew Garrett rentals match the income profile of 511 Alexander Pl, Garrett, IN, 46738. Listed at $364,900, gross rent is $3,085/mo and net cash flow is $880/mo, a 10.15% yield well above national averages. DSCR 1.88 means Ziffy Mortgage can approve your loan on the property's income alone, bypassing personal income verification. The 5% annual appreciation trend adds $100,815 by year five with $3,361/yr in annual principal reduction, projecting $194,740 in total cumulative return.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.2% | 10.0% |
| Monthly Cash Flow | $880 | $300 |
City averages based on Garrett market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,085 |
| Total Monthly Debt Service | $2,060 |
| DSCR Ratio | 1.50x |
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 2016
0.34 Acres lot
$N/A/sqft
$175 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46738, Garrett, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,457 (100%) |
| Owner Occupied HU | 2,591 (74.9%) |
| Renter Occupied HU | 727 (21.0%) |
| Vacant Housing Units | 139 ( 4.0%) |
| Median Home Value | $197,979 |
| Average Home Value | $219,234 |
Housing Distribution
Address Breakdown
Residential
3,317
Single Family
3,217
Multi-Family
100
Businesses
233
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 2016
0.34 Acres lot
$N/A/sqft
$175 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46738, Garrett, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,457 (100%) |
| Owner Occupied HU | 2,591 (74.9%) |
| Renter Occupied HU | 727 (21.0%) |
| Vacant Housing Units | 139 ( 4.0%) |
| Median Home Value | $197,979 |
| Average Home Value | $219,234 |
Housing Distribution
Address Breakdown
Residential
3,317
Single Family
3,217
Multi-Family
100
Businesses
233
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Joseph Hege • Uptown Realty Group
Mls Name: IRMLS
Mls Provider:
Mls ID: #202440414
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.