517 Spring Mill Rd, Anderson, IN, 46013 | $131/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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517 Spring Mill Rd, Anderson, IN, 46013 | $131/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

Rental property for sale in Anderson at 517 Spring Mill Rd, Anderson, IN, 46013 priced at $250,000 converts $1,632/mo rent into $131/mo cash flow after a $1,224/mo obligation. Total monthly income equals $1,632/mo, and annual cash flow totals $1,571/yr on $82,875 invested. Return on cash invested prints 21.8% in year one, and rental yield reads 7.83% against a $250,000 entry. Equity gained on principal adds $1,613/yr, while 5% annual appreciation compiles into $69,070 by year five. Five-year ROI reaches 112.75% and total cumulative return in cash sums $93,442. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,632/mo property income covering a $1,224/mo payment, not borrower’s personal income.

Single Family

Built in 1977

0.54 Acres lot

$N/A/sqft

No HOA

More details about the property

Move-in ready ranch-style home is thoughtfully updated and situated on two spacious lots. Inside, the sunken living room offers a welcoming space for everyday living, while the separate family room features a vaulted ceiling and a cozy gas-log fireplace-perfect for relaxing or gathering with friends and family. The kitchen is equipped with shaker cabinets, a backsplash, and a newer dishwasher. The primary bedroom includes a private bathroom with a double vanity. Additional upgrades include a brand new water softener, updated attic insulation, a dual sump pump system, and recent mechanical improvements. Step outside to enjoy a fully fenced, outdoor-friendly backyard shaded by mature maple trees. A pergola-covered patio provides the perfect setting for outdoor dining or relaxation, while the second lot includes a fire ring, garden area, and an additional shed. 3 sheds total to offer plenty of storage space. With its rare combination of comfort, style, outdoor space, and modern updates, this home is truly ready for its next chapter.

Neighborhood Data

Neighborhood data shown for ZIP Code: 46013, Anderson, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	9,221 (100%)
Owner Occupied HU	5,628 (61.0%)
Renter Occupied HU	2,886 (31.3%)
Vacant Housing Units	707 ( 7.7%)
Median Home Value	$161,147
Average Home Value	$202,548