599 N Seminary St, Roanoke, IN, 46783 | $506/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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599 N Seminary St, Roanoke, IN, 46783 | $506/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 Roanoke at 599 N Seminary St, Roanoke, IN, 46783 offers a 9.84% rental yield on a $229,900 purchase with $1,886/mo rent. Total monthly income registers $1,886/mo, and a $1,125/mo payment leaves $506/mo available for distribution. Annual cash flow reaches $6,074/yr on $76,212 to close, and return on cash invested stands at 27.88% in year one. Equity gained on principal adds $1,484/yr while 5% annual appreciation supports $63,517 over five years. Portfolio math shows five-year ROI at 145.38% and total cumulative return in cash at $110,795. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,886/mo property income against a $1,125/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 1900

9,147 sqft lot

$N/A/sqft

No HOA

More details about the property

RARE FIND in quaint Roanoke. 5 bedrooms and 2.5 bathrooms. Situated on Roanoke's north side at the corner of Seminary and Sixth, this home features a small-town front yard and a rural backyard. It all begins on the welcoming front porch. Enter into the grand family room that accommodates groups large and small. Main floor den perfect for office, games or crafts. The dining room transitions beautifully to the large kitchen as the layout circles back to the front entry. A fifth bedroom with private en suite, was added over the garage, with four large bedrooms at the top of the stairs compete with a second full bathroom. The home features updates to plumbing, electric, water softener, new water heater, high efficiency furnace 2021, AC 2022, new windows on main floor, all kitchen appliances 2023, new toilet in upstairs shared bath.

Neighborhood Data

Neighborhood data shown for ZIP Code: 46783, Roanoke, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	3,103 (100%)
Owner Occupied HU	2,612 (84.2%)
Renter Occupied HU	312 (10.1%)
Vacant Housing Units	179 ( 5.8%)
Median Home Value	$312,289
Average Home Value	$349,443