7351 Evanston AveIndianapolisIN46240
INVESTMENT ANALYSIS
Investment Verdict
Solid Income7351 Evanston Ave, Indianapolis, IN, 46240 in Indianapolis is a solid income-producing rental, 9.02% gross yield, $1,406/mo rent, $283/mo net cash flow on a $187,000 buy. DSCR 1.67 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $51,665 and $1,722/yr in principal reduction project a total cumulative return of $88,994.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 6.8% |
| Monthly Cash Flow | $283 | $450 |
City averages based on Indianapolis market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,406 |
| Total Monthly Debt Service | $1,048 |
| DSCR Ratio | 1.34x |
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 1953
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46240, Indianapolis, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,313 (100%) |
| Owner Occupied HU | 4,833 (39.3%) |
| Renter Occupied HU | 5,655 (45.9%) |
| Vacant Housing Units | 1,825 (14.8%) |
| Median Home Value | $355,378 |
| Average Home Value | $432,769 |
Housing Distribution
Address Breakdown
Residential
11,010
Single Family
6,951
Multi-Family
4,059
Businesses
1,461
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 1953
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46240, Indianapolis, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,313 (100%) |
| Owner Occupied HU | 4,833 (39.3%) |
| Renter Occupied HU | 5,655 (45.9%) |
| Vacant Housing Units | 1,825 (14.8%) |
| Median Home Value | $355,378 |
| Average Home Value | $432,769 |
Housing Distribution
Address Breakdown
Residential
11,010
Single Family
6,951
Multi-Family
4,059
Businesses
1,461
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Connie Perkins • F.C. Tucker Company
Mls Name: MIBOR as distributed by MLS GRID
Mls ID: #22063259