626 S 21st St, Lafayette, IN, 47905 | $431/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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626 S 21st St, Lafayette, IN, 47905 | $431/mo Cash Flow | Ziffy

For Sale

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 Lafayette at 626 S 21st St, Lafayette, IN, 47905 generates $1,721/mo in rent and, after a $1,052/mo payment, leaves $431/mo in cash flow. Total monthly income is $1,721/mo, and annual cash flow is $5,169/yr on $71,273 invested. Return on cash invested sits at 27.16% in year one, and rental yield is 9.61% on a $215,000 entry. Equity gained on principal adds $1,387/yr, while 5% annual appreciation builds toward $59,401 over five years. Five-year ROI reaches 141.5% and total cumulative return in cash sums $100,849. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,721/mo property income rather than buyer’s personal income.

Single Family

Built in 1930

6,272 sqft lot

$N/A/sqft

No HOA

More details about the property

We are proud to present this early 20th century single-family home in central Lafayette. From the wraparound front porch you are only a two block walk to all of the amenities of Columbian park including the recently rebuilt Lobe Stadium, home to Lafayettes own Aviators baseball team, as well as local landmarks Arnis pizza and the Original Frozen Custard. Inside you will find wonderful unpainted original woodwork on trim, baseboards and wall paneling. Main floor has a dedicated laundry room just off of the kitchen, formal dining room, and a side room with closet and half bath that could either be a fourth bedroom or a convenient office space. Recent updates include new furnace and air conditioning unit installed this year by JL Anderson H/C, basement foundation work and some pump with back up battery installation by Crossroads Foundation, waste water clean out installed in 2019, and the the roof over the kitchen was just replaced two years ago. Located a short distance from downtown Lafayette this parcel is in R2 Zoning which means a new property owner could also convert this home into an absentee Air BnB rental or the present home structure could be replaced with a multi family duplex unit provided proper municipal permits and variances are granted.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47905, Lafayette, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	19,630 (100%)
Owner Occupied HU	10,991 (56.0%)
Renter Occupied HU	7,333 (37.4%)
Vacant Housing Units	1,306 ( 6.7%)
Median Home Value	$254,797
Average Home Value	$312,191