717 Ruse StNorth ManchesterIN46962
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderInvestors who treat current yield as secondary to long-run equity growth will find 717 Ruse St, North Manchester, IN, 46962 in North Manchester worth modelling. At $226,500 with a 7.71% gross yield, the $1,456/mo rent leaves $96/mo after the $1,018/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.43 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $62,578 by year five; $2,086/yr in principal reduction adds further equity. Total projected return: $91,933.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.7% | 7.0% |
| Monthly Cash Flow | $96 | $1,200 |
City averages based on North Manchester market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,456 |
| Total Monthly Debt Service | $1,270 |
| DSCR Ratio | 1.15x |
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 1960
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46962, North Manchester, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,818 (100%) |
| Owner Occupied HU | 2,537 (66.4%) |
| Renter Occupied HU | 941 (24.6%) |
| Vacant Housing Units | 340 ( 8.9%) |
| Median Home Value | $169,696 |
| Average Home Value | $234,758 |
Housing Distribution
Address Breakdown
Residential
3,480
Single Family
3,416
Multi-Family
64
Businesses
281
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 1960
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46962, North Manchester, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,818 (100%) |
| Owner Occupied HU | 2,537 (66.4%) |
| Renter Occupied HU | 941 (24.6%) |
| Vacant Housing Units | 340 ( 8.9%) |
| Median Home Value | $169,696 |
| Average Home Value | $234,758 |
Housing Distribution
Address Breakdown
Residential
3,480
Single Family
3,416
Multi-Family
64
Businesses
281
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Keli Cordill • Tri Oaks Realty
Mls Name: IRMLS
Mls ID: #202528138