6311 Alex Ln, Evansville, IN, 47715 | 7.11% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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6311 Alex Ln, Evansville, IN, 47715 | 7.11% Rental Yield | 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 Evansville at 6311 Alex Ln, Evansville, IN, 47715 generates $1,274/mo in rent, after a $1,052/mo payment. Total monthly income is $1,274/mo. Return on cash invested sits at 19.63% in year one, and rental yield is 7.11% 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 101.16% and total cumulative return in cash sums $72,097. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,274/mo property income rather than buyer’s personal income.

Condo

Built in 2006

N/A lot

$N/A/sqft

No HOA

More details about the property

MOVE IN READY-This one story condo offers the perfect blend of comfort, style, and convenience with an attached garage, two bedrooms, two full baths, and a light-filled sunroom that adds additional living space. Designed with an open floor plan and soaring 10-foot ceilings, the home feels spacious and inviting from the moment you step inside. The kitchen features a breakfast bar and is open to the main living and dining areas, creating a seamless flow for entertaining and everyday living. With no steps throughout, this home provides easy accessibility for all. The sunroom is the ideal spot for morning coffee or quiet relaxation, while the bedrooms are well-sized, with the primary suite offering its own full bath. Located on Evansvilles desirable east side, this property is just minutes from hospitals, shopping, dining, and everyday conveniences, making it an excellent choice for those seeking low-maintenance living without sacrificing comfort or location. Dues include water, sewer, trash, common area maintenance, roofs, landscaping, parking lots, common insurance, exterior maintenance for $290/month.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47715, Evansville, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	15,106 (100%)
Owner Occupied HU	7,008 (46.4%)
Renter Occupied HU	7,082 (46.9%)
Vacant Housing Units	1,016 ( 6.7%)
Median Home Value	$218,062
Average Home Value	$246,752