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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Investment property for sale in Spencer at 6771 N Us Highway 231, Spencer, IN, 47460 offers a 7.35% rental yield on a $532,000 purchase with $3,258/mo rent. Total monthly income registers $3,258/mo, and a $2,604/mo payment leaves $64/mo available for distribution. Annual cash flow reaches $772/yr on $175,028 to close, and return on cash invested stands at 20.5% in year one. Equity gained on principal adds $3,433/yr while 5% annual appreciation supports $146,982 over five years. Portfolio math shows five-year ROI at 105.75% and total cumulative return in cash at $185,098. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,258/mo property income against a $2,604/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1830
12.52 Acres lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 47460, Spencer, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,190 (100%) |
| Owner Occupied HU | 3,784 (72.9%) |
| Renter Occupied HU | 949 (18.3%) |
| Vacant Housing Units | 457 ( 8.8%) |
| Median Home Value | $187,057 |
| Average Home Value | $214,772 |
Residential
4,901
Single Family
4,899
Multi-Family
2
Businesses
417
Date | Event | Price |
|---|---|---|
| 2025-07-17 | Sold | $532,000 |
| 2025-06-13 | Pending sale | $549,900 |
| 2025-03-11 | Listed for sale | $549,900 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-10-22 | $2808.76 | 14.51% | $423,400 | 11.01% |
| 2023-10-22 | $2452.86 | 25.49% | $381,400 | 27.18% |
| 2022-10-22 | $1954.64 | 1.46% | $299,900 | 33.47% |
What's Special
Pull Down Stairs
Listed by: Chris Harcourt • RE/MAX Cornerstone
Mls Name: MIBOR as distributed by MLS GRID
Mls Provider:
Mls ID: #21999671
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-22 05:23:12 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#48)
