514 E 2nd St, Sheridan, IN, 46069 | $1,152/mo Cash Flow

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514 E 2nd St, Sheridan, IN, 46069 | $1,152/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

Investment property for sale in Sheridan at 514 E 2nd St, Sheridan, IN, 46069 offers a 11.89% rental yield on a $294,899 purchase with $2,922/mo rent. Total monthly income registers $2,922/mo, and a $1,443/mo payment leaves $1,152/mo available for distribution. Annual cash flow reaches $13,826/yr on $97,759 to close, and return on cash invested stands at 34.05% in year one. Equity gained on principal adds $1,903/yr while 5% annual appreciation supports $81,475 over five years. Portfolio math shows five-year ROI at 178.47% and total cumulative return in cash at $174,474. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,922/mo property income against a $1,443/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 1918

6,098 sqft lot

$N/A/sqft

No HOA

More details about the property

Don't miss out on this adorable craftsman style home in Sheridan! Enjoy evenings on the large front porch or head around to the backyard w/ a newer deck that's great for entertaining in your fully fenced in, private backyard. This home features 3 spacious bedrooms, 2 full baths bath and has a bright & open floorplan! With a main floor Primary bedroom, featuring double closets & updated full bath. Updated kitchen w/farm-style cabinets & counters with a breakfast bar, & newer appliances! Recently paint & newer LBP flooring and carpeting. Updated windows & electrical! Other updates include 3.5 year old roof, gutters & water heater! Furnace approx. 9 year old & A/C 3.5 years old. Large mini-barn w/ loft storage. The Pantry is plumbed for a half bath! There is a large unfinished basement which would be a great recreation room/play room! Detached Garage has lots of possibilities! Located in the heart of Sheridan, a quick walk from the library, Veteran's Park, Sheridan's historic Main Street, shops, restaurants, the soon-to-be Monon Trail Extension, as well as schools.

Neighborhood Data

Neighborhood data shown for ZIP Code: 46069, Sheridan, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	4,097 (100%)
Owner Occupied HU	2,947 (71.9%)
Renter Occupied HU	779 (19.0%)
Vacant Housing Units	371 ( 9.1%)
Median Home Value	$410,956
Average Home Value	$436,318