607 E Broad StSpicelandIN47385
INVESTMENT ANALYSIS
Investment Verdict
Solid Income607 E Broad St, Spiceland, IN, 47385 in Spiceland is a solid income-producing rental, 8% gross yield, $2,660/mo rent, $265/mo net cash flow on a $399,000 buy. DSCR 1.41 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $110,236 and $3,345/yr in principal reduction project a total cumulative return of $160,531.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8% | 6.0% |
| Monthly Cash Flow | $265 | $300 |
City averages based on Spiceland market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,660 |
| Total Monthly Debt Service | $2,334 |
| DSCR Ratio | 1.14x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.5% rate / 30-yr fixed, 25% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1881
20.11 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47385, Spiceland, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 762 (100%) |
| Owner Occupied HU | 572 (75.1%) |
| Renter Occupied HU | 140 (18.4%) |
| Vacant Housing Units | 50 ( 6.6%) |
| Median Home Value | $212,626 |
| Average Home Value | $316,888 |
Housing Distribution
Address Breakdown
Residential
355
Single Family
355
Multi-Family
0
Businesses
40
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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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
