662 Meridian RdMitchellIN47446
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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 662 Meridian Rd, Mitchell, IN, 47446 uses $56,355 cash to close to unlock $6,452/yr annual cash flow and $538/mo monthly cash flow. Total monthly income runs $1,598/mo, and a $832/mo payment keeps the spread at $538/mo. Purchase price stands at $170,000, and rental yield measures 11.28% with $1,598/mo rent. Return on cash invested shows 31.36% in year one, and 5% annual appreciation builds toward $46,968 over five years. Five-year ROI reaches 164.34% and total cumulative return in cash records $92,613. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,598/mo property income covering a $832/mo payment rather than investor’s personal income.
Single Family
Built in 1967
9,583 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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Listed by: Rebekah Sims • Century 21 Scheetz - Bloomington
Mls Name: IRMLS
Mls Provider:
Mls ID: #202437344
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.