513 Alexander PlGarrettIN46738
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
Investment Highlights
Rental property for sale in Garrett at 513 Alexander Pl, Garrett, IN, 46738 offers $2,222/mo rent that, after a $1,762/mo payment, leaves $61/mo cash flow. Total monthly income is $2,222/mo, and annual cash flow is $732/yr on $119,340 cash. Return on cash invested measures 20.52% in year one, and rental yield stands at 7.41% at a $360,000 entry. Equity gained on principal adds $2,323/yr while 5% annual appreciation compounds into $99,461 by year five. Five-year ROI records 105.88% and total cumulative return in cash reaches $126,357. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,222/mo property income versus a $1,762/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2013
0.31 Acres lot
$N/A/sqft
No 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