6800 State Road 1SpencervilleIN46788
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 6800 State Road 1, Spencerville, IN, 46788 in Spencerville: $1,973/mo in rent, $563/mo net, 10.08% gross yield, all on a $234,900 acquisition. The 1.87 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $64,899 in value, and $2,163/yr in principal paydown steadily builds equity. Projected total cumulative return: $125,147.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.1% | 7.0% |
| Monthly Cash Flow | $563 | $300 |
City averages based on Spencerville market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,973 |
| Total Monthly Debt Service | $1,317 |
| DSCR Ratio | 1.50x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1956
0.49 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46788, Spencerville, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,295 (100%) |
| Owner Occupied HU | 1,160 (89.6%) |
| Renter Occupied HU | 88 ( 6.8%) |
| Vacant Housing Units | 47 ( 3.6%) |
| Median Home Value | $357,944 |
| Average Home Value | $397,050 |
Housing Distribution
Address Breakdown
Residential
1,107
Single Family
1,107
Multi-Family
0
Businesses
32
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1956
0.49 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46788, Spencerville, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,295 (100%) |
| Owner Occupied HU | 1,160 (89.6%) |
| Renter Occupied HU | 88 ( 6.8%) |
| Vacant Housing Units | 47 ( 3.6%) |
| Median Home Value | $357,944 |
| Average Home Value | $397,050 |
Housing Distribution
Address Breakdown
Residential
1,107
Single Family
1,107
Multi-Family
0
Businesses
32
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: IRMLS
Mls ID: #202609851