709 Terrace LnGreencastleIN46135
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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
Rental property for sale in Greencastle at 709 Terrace Ln, Greencastle, IN, 46135 offers $1,500/mo rent that, after a $1,174/mo payment, leaves $60/mo cash flow. Total monthly income is $1,500/mo, and annual cash flow is $721/yr on $79,527 cash. Return on cash invested measures 20.82% in year one, and rental yield stands at 7.5% at a $239,900 entry. Equity gained on principal adds $1,548/yr while 5% annual appreciation compounds into $66,280 by year five. Five-year ROI records 107.5% and total cumulative return in cash reaches $85,495. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,500/mo property income versus a $1,174/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1961
0.33 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46135, Greencastle, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,718 (100%) |
| Owner Occupied HU | 4,723 (61.2%) |
| Renter Occupied HU | 2,134 (27.6%) |
| Vacant Housing Units | 861 (11.2%) |
| Median Home Value | $218,134 |
| Average Home Value | $263,076 |
Housing Distribution
Address Breakdown
Residential
7,144
Single Family
6,852
Multi-Family
292
Businesses
650
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Listed by: Joe Lenihan • F.C. Tucker Advantage, REALTOR
Mls Name: MIBOR as distributed by MLS GRID
Mls ID: #22060786