602 N 3rd St, Boonville, IN, 47601 | $557/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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602 N 3rd St, Boonville, IN, 47601 | $557/mo Cash Flow | Ziffy

For Sale

Fix & Flip

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

Rental property for sale in Boonville at 602 N 3rd St, Boonville, IN, 47601 generates $1,607/mo in rent and, after a $856/mo payment, leaves $557/mo in cash flow. Total monthly income is $1,607/mo, and annual cash flow is $6,686/yr on $57,979 invested. Return on cash invested sits at 31.44% in year one, and rental yield is 11.03% on a $174,900 entry. Equity gained on principal adds $1,129/yr, while 5% annual appreciation builds toward $48,322 over five years. Five-year ROI reaches 164.5% and total cumulative return in cash sums $95,376. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,607/mo property income rather than buyer’s personal income.

Single Family

Built in 1900

7,405 sqft lot

$N/A/sqft

No HOA

More details about the property

Charming 1900 Craftsman with Timeless Character and Modern Updates. Step into the warmth and character of this beautifully maintained 5-bedroom, 2-bath home that perfectly blends historic charm with thoughtful updates. Built in 1900, this home welcomes you with a large covered front porch the perfect spot to relax and take in the neighborhood. Inside, youll love the inviting open layout connecting the living and dining rooms, highlighted by gorgeous wood beams, built-in craftsman details, and original 5-panel doors that add timeless appeal. The kitchen offers plenty of cabinet space and a functional layout for everyday living. With two bedrooms on the main level and three additional bedrooms upstairs, theres space for everyone. The home features numerous updates, including a new furnace and ductwork (2024), upgraded main bath (2024), water heater (2023), and a new front porch (2018). Enjoy outdoor gatherings on the spacious back patio added in 2021, and take advantage of the large upstairs storage area conveniently located off the second bath. Full of warmth, character, and comfort this home is ready to welcome its next owners! Home is being sold As-Is

Neighborhood Data

Neighborhood data shown for ZIP Code: 47601, Boonville, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	6,063 (100%)
Owner Occupied HU	4,644 (76.6%)
Renter Occupied HU	1,004 (16.6%)
Vacant Housing Units	415 ( 6.8%)
Median Home Value	$231,570
Average Home Value	$282,098