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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% |
Investment property for sale in Salem at 602 E Shawnee Dr, Salem, IN, 47167 offers a 9.13% rental yield on a $249,900 purchase with $1,902/mo rent. Total monthly income registers $1,902/mo, and a $1,223/mo payment leaves $402/mo available for distribution. Annual cash flow reaches $4,824/yr on $82,842 to close, and return on cash invested stands at 25.73% in year one. Equity gained on principal adds $1,613/yr while 5% annual appreciation supports $69,043 over five years. Portfolio math shows five-year ROI at 133.89% and total cumulative return in cash at $110,918. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,902/mo property income against a $1,223/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1979
0.51 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 |
|---|---|---|
| 2025-08-29 | Listed for sale | $249,900 |
| 2025-07-27 | Listing removed | N/A |
| 2025-06-30 | Pending sale | $239,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-09-01 | $1483.00 | 10.42% | $139,000 | -1.21% |
| 2023-09-01 | $1343.02 | 15.73% | $140,700 | 4.30% |
| 2022-09-01 | $1160.48 | 7.49% | $134,900 | 14.81% |
Listed by: N/A • N/A
Mls Name: undefined
Mls ID: #N/A
