701 N Fairoaks Dr, New Castle, IN, 47362 | $297/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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701 N Fairoaks Dr, New Castle, IN, 47362 | $297/mo Cash Flow | Ziffy

For Sale

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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 New Castle at 701 N Fairoaks Dr, New Castle, IN, 47362 priced at $165,000 pairs $1,288/mo rent with $297/mo cash flow after a $808/mo payment. Total monthly income equals $1,288/mo, and annual cash flow comes to $3,565/yr on $54,698 invested. Return on cash invested is 26.43% in year one, and rental yield stands at 9.37% on a $165,000 basis. Equity gained on principal adds $1,065/yr, and 5% annual appreciation accumulates to $45,586 by year five. Five-year ROI measures 137.64% and total cumulative return in cash reaches $75,287. For financing, Ziffy Mortgage’s DSCR program evaluates $1,288/mo property income against a $808/mo payment instead of your W2s, 1099s, or Tax returns.

Single Family

Built in 1971

1.22 Acres lot

$N/A/sqft

No HOA

More details about the property

Amazing Opportunity in Extremely Desirable Park Place Addition New Castle! This home will be sold at online only auction and will be sold "AS IS". Read ALL terms and conditions of auction. Executive Home in need of updating, 5 Bedrooms, 3.5 Baths, Formal Dining Room, Living Room, Family Room, Large Inground Pool. New Castle Schools. Great Opportunity for a forever home for a large family with a vision. Home has sat empty for nearly 6 years. READ ALL AUCTION TERMS: Home sells "AS IS", sale is not contingent upon financing, inspections or appraisals. $10,000.00 Non Refundable deposit due when buyer enters into the purchase agreement immediately following auction close. Close at Attorneys Title Agency in Greenfield Indiana within 30 days of auction close. Auction Closes December 7 @ 6:00 pm see private remarks for bidding link. Home built in 1971 lead base paint is possible. Personal Representatives have not lived in the house for over 25 years. Home has sat empty for roughly 6 years. SOLD AS IS