616 Covert Ave, Evansville, IN, 47713 | $231/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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616 Covert Ave, Evansville, IN, 47713 | $231/mo Cash Flow | Ziffy

For Sale

Currently Rented

Rental Income

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 Evansville at 616 Covert Ave, Evansville, IN, 47713 priced at $115,250 pairs $923/mo rent with $231/mo cash flow after a $564/mo payment. Total monthly income equals $923/mo, and annual cash flow comes to $2,775/yr on $38,205 invested. Return on cash invested is 27.17% in year one, and rental yield stands at 9.61% on a $115,250 basis. Equity gained on principal adds $744/yr, and 5% annual appreciation accumulates to $31,841 by year five. Five-year ROI measures 141.63% and total cumulative return in cash reaches $54,112. For financing, Ziffy Mortgage’s DSCR program evaluates $923/mo property income against a $564/mo payment instead of your W2s, 1099s, or Tax returns.

Single Family

Built in 1924

6,534 sqft lot

$N/A/sqft

No HOA

More details about the property

Outstanding Opportunity to purchase an investment portfolio of 28 Evansville single family homes that are all currently rented. This property is 1 of 28 properties - Can be purchased as a group, in smaller packages or individually. All properties have been remodeled within the last 3 years. Most are fully tenant-occupied with strong in-place rents. This is a turnkey package ideal for institutional buyers, hedge funds, or large-scale investors. Do not disturb tenants. Rare Four Bedroom House with bath and half. Updated kitchen with stove & refrigerator.