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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Investment property for sale in Spencer at 7373 Locust Lake Rd, Spencer, IN, 47460 offers a 8.09% rental yield on a $375,000 purchase with $2,527/mo rent. Total monthly income registers $2,527/mo, and a $1,835/mo payment leaves $276/mo available for distribution. Annual cash flow reaches $3,316/yr on $124,313 to close, and return on cash invested stands at 22.58% in year one. Equity gained on principal adds $2,420/yr while 5% annual appreciation supports $103,606 over five years. Portfolio math shows five-year ROI at 116.92% and total cumulative return in cash at $145,347. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,527/mo property income against a $1,835/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1999
10 Acres lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 47460, Spencer, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,190 (100%) |
| Owner Occupied HU | 3,784 (72.9%) |
| Renter Occupied HU | 949 (18.3%) |
| Vacant Housing Units | 457 ( 8.8%) |
| Median Home Value | $187,057 |
| Average Home Value | $214,772 |
Residential
4,901
Single Family
4,899
Multi-Family
2
Businesses
417
Date | Event | Price |
|---|---|---|
| 2025-07-30 | Sold | $375,000 |
| 2025-05-20 | Listed for sale | $375,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-11-04 | $1610.30 | -4.13% | $264,400 | 10.77% |
| 2023-11-04 | $1679.64 | 38.97% | $238,700 | 10.25% |
| 2022-11-04 | $1208.60 | 8.39% | $216,500 | 41.32% |
Listed by: Corey Mauder • Century 21 Scheetz - Bloomington
Mls Name: IRMLS
Mls Provider:
Mls ID: #202518622
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
