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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 605 S Highland Drive, Salem, IN, 47167 offers $1,814/mo rent that, after a $1,111/mo payment, leaves $451/mo cash flow. Total monthly income is $1,814/mo, and annual cash flow is $5,417/yr on $75,251 cash. Return on cash invested measures 27.11% in year one, and rental yield stands at 9.59% at a $227,000 entry. Equity gained on principal adds $1,465/yr while 5% annual appreciation compounds into $62,716 by year five. Five-year ROI records 141.23% and total cumulative return in cash reaches $106,273. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,814/mo property income versus a $1,111/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2024
9,583 sqft 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 |
|---|---|---|
| 2024-12-20 | Sold | $227,000 |
| 2024-12-09 | Pending sale | $227,000 |
| 2024-10-08 | Listed for sale | $227,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| No tax history data available | ||||
Listed by: Mark A. Day • The Day Company REALTORS
Mls Name: SIRA
Mls Provider:
Mls ID: #2024011429
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.
