602 Shawnee Avenue, Salem, IN, 47167 | 5.61% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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602 Shawnee Avenue, Salem, IN, 47167 | 5.61% Rental Yield | 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 Salem at 602 Shawnee Avenue, Salem, IN, 47167 with 5% annual appreciation on a $229,900 basis while $1,074/mo rent supports operations. 09% in year one. Equity gained on principal adds $1,484/yr, and five-year appreciation sums $63,517 alongside rental yield of 5.61%. Five-year ROI measures 76.82% and total cumulative return in cash totals $58,547. Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,074/mo property income versus a $1,125/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.

Single Family

Built in 1979

0.51 Acres lot

$N/A/sqft

No HOA

More details about the property

This well maintained move-in-ready home offers 3 nice size bedrooms, 1.5 baths, half acre corner lot, both standard living room and versatile sunroom for entertaining and additional living space, heated/cooled one car garage (ductless mini-split) with storage shelving, large patio area, concrete sidewalks that lead to outside shed that is equipped with electric, heat and sliding door. Exterior security cameras, door sensors on exterior doors, garage, and shed, as well as an indoor control panel all serviced by Orange County REMC (monthly service plan). Conveniently located near schools, parks, and just minutes from downtown Salem, schedule your personal showing today.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47167, Salem, IN area.

Housing Distribution

Housing Statistics

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