514 N Meridian StWashingtonIN47501
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who value predictability will appreciate 514 N Meridian St, Washington, IN, 47501 in Washington. At $159,500 it earns $1,204/mo in rent and distributes $247/mo to the owner after the $717/mo payment, a consistent 9.06% yield. DSCR 1.68 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $44,067 in value; $1,469/yr in principal paydown compounds ownership stake. Total projected return: $76,280.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 8.0% |
| Monthly Cash Flow | $247 | $150 |
City averages based on Washington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,204 |
| Total Monthly Debt Service | $894 |
| DSCR Ratio | 1.35x |
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 1889
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47501, Washington, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,537 (100%) |
| Owner Occupied HU | 4,525 (60.0%) |
| Renter Occupied HU | 2,374 (31.5%) |
| Vacant Housing Units | 638 ( 8.5%) |
| Median Home Value | $201,066 |
| Average Home Value | $221,265 |
Housing Distribution
Address Breakdown
Residential
7,274
Single Family
6,959
Multi-Family
315
Businesses
705
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 1889
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47501, Washington, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,537 (100%) |
| Owner Occupied HU | 4,525 (60.0%) |
| Renter Occupied HU | 2,374 (31.5%) |
| Vacant Housing Units | 638 ( 8.5%) |
| Median Home Value | $201,066 |
| Average Home Value | $221,265 |
Housing Distribution
Address Breakdown
Residential
7,274
Single Family
6,959
Multi-Family
315
Businesses
705
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: IRMLS
Mls ID: #202606246