622 W Grissom AveMitchellIN47446
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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
Investment Highlights
Investment property for sale in Mitchell at 622 W Grissom Ave, Mitchell, IN, 47446 with 5% annual appreciation on a $264,000 basis while $2,128/mo rent supports operations. Total monthly income totals $2,128/mo and a $1,292/mo payment preserves $543/mo for cash returns. Annual cash flow comes to $6,521/yr on $87,516 deployed, and return on cash invested reaches 27.36% in year one. Equity gained on principal adds $1,704/yr, and five-year appreciation sums $72,938 alongside rental yield of 9.67%. Five-year ROI measures 142.58% and total cumulative return in cash totals $124,777.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,128/mo property income versus a $1,292/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1913
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47446, Mitchell, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,285 (100%) |
| Owner Occupied HU | 3,046 (71.1%) |
| Renter Occupied HU | 767 (17.9%) |
| Vacant Housing Units | 472 (11.0%) |
| Median Home Value | $180,587 |
| Average Home Value | $220,742 |
Housing Distribution
Address Breakdown
Residential
4,131
Single Family
4,075
Multi-Family
56
Businesses
276
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