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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 619 N Michael Street, Salem, IN, 47167 priced at $176,000 pairs $1,825/mo rent with $769/mo cash flow after a $861/mo payment. Total monthly income equals $1,825/mo, and annual cash flow comes to $9,227/yr on $58,344 invested. Return on cash invested is 35.72% in year one, and rental yield stands at 12.44% on a $176,000 basis. Equity gained on principal adds $1,136/yr, and 5% annual appreciation accumulates to $48,626 by year five. Five-year ROI measures 187.39% and total cumulative return in cash reaches $109,329. For financing, Ziffy Mortgage’s DSCR program evaluates $1,825/mo property income against a $861/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1965
0.43 Acres 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 |
|---|---|---|
| 2025-02-27 | Sold | $176,000 |
| 2025-01-17 | Pending sale | $189,000 |
| 2024-12-14 | Price change | $189,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-10-24 | $534.18 | 2.00% | $145,900 | 10.03% |
| 2023-10-24 | $523.72 | 2.00% | $132,600 | 12.56% |
| 2022-10-24 | $513.44 | 15.70% | $117,800 | 9.58% |
Listed by: Lori J. Gilstrap • The Day Company REALTORS
Mls Name: SIRA
Mls Provider:
Mls ID: #2024011240
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.
