649 W State St, Albany, IN, 47320 | $422/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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649 W State St, Albany, IN, 47320 | $422/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 Albany at 649 W State St, Albany, IN, 47320 priced at $160,000 converts $1,382/mo rent into $422/mo cash flow after a $783/mo obligation. Total monthly income equals $1,382/mo, and annual cash flow totals $5,060/yr on $53,040 invested. Return on cash invested prints 29.45% in year one, and rental yield reads 10.37% against a $160,000 entry. Equity gained on principal adds $1,032/yr, while 5% annual appreciation compiles into $44,205 by year five. Five-year ROI reaches 153.76% and total cumulative return in cash sums $81,554. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,382/mo property income covering a $783/mo payment, not borrower’s personal income.

Single Family

Built in 1890

6,891 sqft lot

$N/A/sqft

No HOA

More details about the property

Move-in ready and packed with charm, this updated 3-bedroom, 1-bath home in the heart of Albany offers unbeatable value. Enjoy a fully fenced yard with a wood privacy fence, parking for up to 8 cars, a single-car garage, and an attached covered carport nestled beneath a beautiful shade tree. Inside, youll find spacious rooms, tall ceilings, and plenty of natural light. Major updates include a brand new roof, double-pane windows, updated HVAC, and full home replumbinggiving you peace of mind and comfort for years to come. With nothing left to do but move in, and monthly costs often lower than rent, this is the perfect opportunity to own your home and start building equity today.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47320, Albany, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	1,805 (100%)
Owner Occupied HU	1,321 (73.2%)
Renter Occupied HU	334 (18.5%)
Vacant Housing Units	150 ( 8.3%)
Median Home Value	$193,394
Average Home Value	$216,785