516 Johnson StCovingtonIN47932
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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
Investment property for sale in Covington at 516 Johnson St, Covington, IN, 47932 uses $41,371 cash to close to unlock $7,688/yr annual cash flow and $641/mo monthly cash flow. Total monthly income runs $1,390/mo, and a $611/mo payment keeps the spread at $641/mo. Purchase price stands at $124,800, and rental yield measures 13.37% with $1,390/mo rent. Return on cash invested shows 38.49% in year one, and 5% annual appreciation builds toward $34,480 over five years. Five-year ROI reaches 202.29% and total cumulative return in cash records $83,690. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,390/mo property income covering a $611/mo payment rather than investor’s personal income.
Single Family
Built in 1890
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47932, Covington, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,441 (100%) |
| Owner Occupied HU | 1,793 (73.5%) |
| Renter Occupied HU | 480 (19.7%) |
| Vacant Housing Units | 168 ( 6.9%) |
| Median Home Value | $176,518 |
| Average Home Value | $198,095 |
Housing Distribution
Address Breakdown
Residential
2,405
Single Family
2,369
Multi-Family
36
Businesses
210
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