533 E State Hwy #60MitchellIN47446
INVESTMENT ANALYSIS
Investment Verdict
Appreciation Play533 E State Hwy #60, Mitchell, IN, 47446 in Mitchell is priced for appreciation, not yield. Rental yield 5.75%. At $162,900 with a 5.75% gross yield, the monthly income is modest, but 5% annual price growth is projected to add $45,006 in value over five years, making equity the primary return driver. Ziffy Mortgage's DSCR mortgage (1.06) can still finance this property for non-U.S. residents; a 30–35% down payment typically produces the cleanest underwriting for appreciation-focused assets. Total projected cumulative return: $48,908.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.8% | 6.0% |
| Monthly Cash Flow | $(198) | $300 |
City averages based on Mitchell market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $780 |
| Total Monthly Debt Service | $913 |
| DSCR Ratio | 0.85x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1960
0.62 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47446, Mitchell, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,285 (100%) |
| Owner Occupied HU | 3,046 (71.1%) |
| Renter Occupied HU | 767 (17.9%) |
| Vacant Housing Units | 472 (11.0%) |
| Median Home Value | $180,587 |
| Average Home Value | $220,742 |
Housing Distribution
Address Breakdown
Residential
4,131
Single Family
4,075
Multi-Family
56
Businesses
276
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1960
0.62 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47446, Mitchell, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,285 (100%) |
| Owner Occupied HU | 3,046 (71.1%) |
| Renter Occupied HU | 767 (17.9%) |
| Vacant Housing Units | 472 (11.0%) |
| Median Home Value | $180,587 |
| Average Home Value | $220,742 |
Housing Distribution
Address Breakdown
Residential
4,131
Single Family
4,075
Multi-Family
56
Businesses
276
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices