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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Salem at 600 Ridgeview Drive, Salem, IN, 47167 offers $1,325/mo rent that, after a $661/mo payment, leaves $514/mo cash flow. Total monthly income is $1,325/mo, and annual cash flow is $6,172/yr on $44,753 cash. Return on cash invested measures 33.7% in year one, and rental yield stands at 11.78% at a $135,000 entry. Equity gained on principal adds $871/yr while 5% annual appreciation compounds into $37,298 by year five. Five-year ROI records 176.6% and total cumulative return in cash reaches $79,033. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,325/mo property income versus a $661/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Manufactured
Built in 1993
0.36 Acres lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 47167, Salem, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,825 (100%) |
| Owner Occupied HU | 4,832 (70.8%) |
| Renter Occupied HU | 1,431 (21.0%) |
| Vacant Housing Units | 562 ( 8.2%) |
| Median Home Value | $184,381 |
| Average Home Value | $231,011 |
Residential
6,703
Single Family
6,562
Multi-Family
141
Businesses
505
Date | Event | Price |
|---|---|---|
| 2025-08-28 | Sold | $135,000 |
| 2025-07-28 | Listed for sale | $149,900 |
| 2025-07-14 | Listing removed | $149,900 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-10-10 | $776.82 | 33.44% | $93,100 | 16.52% |
| 2023-10-10 | $582.16 | 14.21% | $79,900 | 18.72% |
| 2022-10-10 | $509.74 | 18.08% | $67,300 | 13.87% |
Listed by: Melanie Wells • HOOSIER REALTY
Mls Name: SIRA
Mls Provider:
Mls ID: #202509260
Disclaimer: IDX information is provided exclusively for consumers personal, noncommercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing data is deemed reliable but is not guaranteed accurate by the SIRA MLS.
