513 N College AveRensselaerIN47978
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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
Rental property for sale in Rensselaer at 513 N College Ave, Rensselaer, IN, 47978 offers $2,170/mo rent that, after a $1,072/mo payment, leaves $855/mo cash flow. Total monthly income is $2,170/mo, and annual cash flow is $10,263/yr on $72,599 cash. Return on cash invested measures 34.05% in year one, and rental yield stands at 11.89% at a $219,000 entry. Equity gained on principal adds $1,413/yr while 5% annual appreciation compounds into $60,506 by year five. Five-year ROI records 178.46% and total cumulative return in cash reaches $129,561. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,170/mo property income versus a $1,072/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1900
0.36 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47978, Rensselaer, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,710 (100%) |
| Owner Occupied HU | 3,173 (67.4%) |
| Renter Occupied HU | 1,190 (25.3%) |
| Vacant Housing Units | 347 ( 7.4%) |
| Median Home Value | $207,764 |
| Average Home Value | $254,811 |
Housing Distribution
Address Breakdown
Residential
4,454
Single Family
4,324
Multi-Family
130
Businesses
430
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Listed by: Beth Buckley • Listing Leaders
Mls Name: NIRA
Mls ID: #827759