515 N Wabash AveEvansvilleIN47712
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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 Evansville at 515 N Wabash Ave, Evansville, IN, 47712 offers $1,955/mo rent that, after a $1,045/mo payment, leaves $667/mo cash flow. Total monthly income is $1,955/mo, and annual cash flow is $8,008/yr on $70,775 cash. Return on cash invested measures 31.22% in year one, and rental yield stands at 10.99% at a $213,500 entry. Equity gained on principal adds $1,378/yr while 5% annual appreciation compounds into $58,986 by year five. Five-year ROI records 163.34% and total cumulative return in cash reaches $115,606. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,955/mo property income versus a $1,045/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1902
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47712, Evansville, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,417 (100%) |
| Owner Occupied HU | 6,822 (59.8%) |
| Renter Occupied HU | 3,381 (29.6%) |
| Vacant Housing Units | 1,214 (10.6%) |
| Median Home Value | $224,192 |
| Average Home Value | $254,495 |
Housing Distribution
Address Breakdown
Residential
10,381
Single Family
9,635
Multi-Family
746
Businesses
517
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Listed by: Marc Hoeppner • @properties
Mls Name: IRMLS
Mls Provider:
Mls ID: #202439706
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.