521 W 2nd St, Mount Vernon, IN, 47620 | $995/mo Cash Flow

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521 W 2nd St, Mount Vernon, IN, 47620 | $995/mo Cash Flow | Ziffy

For Sale

Fix & Flip

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 Mount Vernon at 521 W 2nd St, Mount Vernon, IN, 47620 offers a 15.74% rental yield on a $139,900 purchase with $1,835/mo rent. Total monthly income registers $1,835/mo, and a $685/mo payment leaves $995/mo available for distribution. Annual cash flow reaches $11,939/yr on $46,377 to close, and return on cash invested stands at 45.65% in year one. Equity gained on principal adds $903/yr while 5% annual appreciation supports $38,652 over five years. Portfolio math shows five-year ROI at 240.64% and total cumulative return in cash at $111,603. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,835/mo property income against a $685/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 1890

10,018 sqft lot

$N/A/sqft

No HOA

More details about the property

This historic home is full of character inside and out from the multi columned front porch to the carriage round, built-in arched accents, original built-in china cabinet, tri-fold and french doors, tin ceiling in dining room, elevated ceilings, and beautiful sunrooms on the 1st and 2nd floor. Per Seller: home was built ~1890, in 2006 the kitchen was stripped to the studs, installed solid oak cabinets, slate floor and commercial grade Jenn Air six burner top with griddle, double oven with convection and vent hood with heat lamps, in 2012 the upstairs bathroom was stripped to the studs- new plumbing, electric, walk-in shower, pebble grouted floor and pedestal sink- trim work not completed. Boiler was replaced ~2019 and new motherboard '25. The wood floors on the main level have a basketball floor finish. The main floor bathroom features outdoor grade cement board, new plumbing and vanity '25. Includes: Refrigerator, range/oven, island, all window treatments and porch swing. Excludes washer and dryer. There was an old kitchen upstairs that has been removed. There is a roughed-in full bath on the main level that is drywalled and ready to finish. The small bedroom upstairs does not have a closet. Years ago, this was used as a 3 unit rental and could be easily converted back. Selling As-Is. Too many beautiful features to list them all!

Neighborhood Data

Neighborhood data shown for ZIP Code: 47620, Mount Vernon, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	5,740 (100%)
Owner Occupied HU	4,069 (70.9%)
Renter Occupied HU	1,198 (20.9%)
Vacant Housing Units	473 ( 8.2%)
Median Home Value	$238,289
Average Home Value	$269,466