751 S Summit St, French Lick, IN, 47432 | $240/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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751 S Summit St, French Lick, IN, 47432 | $240/mo Cash Flow | Ziffy

Off market

Airbnb Potential

Ziffy Mortgage

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

Investment property for sale in French Lick at 751 S Summit St, French Lick, IN, 47432 with 5% annual appreciation on a $246,500 basis while $1,806/mo rent supports operations. Total monthly income totals $1,806/mo and a $1,206/mo payment preserves $240/mo for cash returns. Annual cash flow comes to $2,879/yr on $81,715 deployed, and return on cash invested reaches 23.43% in year one. Equity gained on principal adds $1,591/yr, and five-year appreciation sums $68,103 alongside rental yield of 8.79%. Five-year ROI measures 121.94% and total cumulative return in cash totals $99,639.

Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,806/mo property income versus a $1,206/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.

Single Family

Built in 1967

1.86 Acres lot

$N/A/sqft

No HOA

More details about the property

Imagine the possibilities! This newly remodeled 2240 square foot property includes 3 bedrooms, 2 full bathrooms and a very large open concept living, kitchen and dining area that sits on top of Summit St with a view of the French Lick Resort and Casino. The owners converted what used to be apartments and then a church into a possible vacation rental, commercial property or single family home. The bedrooms could easily become office space or the home could be converted into a duplex for long-term rentals. The property includes plenty of space for parking or additional storage and is situated on a total of 1.8 acres just 20 minutes to Patoka Lake. The entire interior is new with updates including: new roof, gutters, windows (2 added in the bedrooms), exterior door, furnace, A/C, water heater, lighting & electrical, flooring, appliances, 2 full bathrooms and entirely new kitchen! With a little exterior TLC, this could be a one-of-a-kind opportunity!

Neighborhood Data

Neighborhood data shown for ZIP Code: 47432, French Lick, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	2,152 (100%)
Owner Occupied HU	1,401 (65.1%)
Renter Occupied HU	481 (22.4%)
Vacant Housing Units	270 (12.5%)
Median Home Value	$171,228
Average Home Value	$188,499