5232 W Reed Rd, Hanover, IN, 47243 | $503/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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5232 W Reed Rd, Hanover, IN, 47243 | $503/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

Investment property for sale in Hanover at 5232 W Reed Rd, Hanover, IN, 47243 offers a 9.22% rental yield on a $299,900 purchase with $2,303/mo rent. Total monthly income registers $2,303/mo, and a $1,468/mo payment leaves $503/mo available for distribution. Annual cash flow reaches $6,031/yr on $99,417 to close, and return on cash invested stands at 25.98% in year one. Equity gained on principal adds $1,935/yr while 5% annual appreciation supports $82,857 over five years. Portfolio math shows five-year ROI at 135.14% and total cumulative return in cash at $134,356. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,303/mo property income against a $1,468/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 1974

1.19 Acres lot

$N/A/sqft

No HOA

More details about the property

Experience peaceful country living in this charming brick home featuring 3 bedrooms and 2 full baths. The spacious eat-in kitchen offers an abundance of cabinetry, a bay window, and easy access to a full bath that also connects to the main bedroom. Enjoy both a cozy living room and a comfortable family room with a wood-burning insert fireplace and large pantry/closet. A mudroom with built-ins and a utility room with sink, closet, and water softener add to the home's functionality. Outside, relax on the large 16x30 concrete patio or the covered front porch. Two detached garage, one 31x66 with double overhead doors and gravel floor, and the other 24x26 with concrete floor, electric, and two overhead doors. These provide ample space for vehicles, storage or projects. A quaint garden shed with metal roof and covered porch adds to the charm. This property offers comfort, function, and a true sense of home. The portable shed & dog fence will not convey. No Sunday Showings.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47243, Hanover, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	2,377 (100%)
Owner Occupied HU	1,473 (62.0%)
Renter Occupied HU	636 (26.8%)
Vacant Housing Units	268 (11.3%)
Median Home Value	$218,782
Average Home Value	$242,566