808 Melody LnKokomoIN46902
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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 Kokomo at 808 Melody Ln, Kokomo, IN, 46902 priced at $184,500 converts $1,554/mo rent into $447/mo cash flow after a $903/mo obligation. Total monthly income equals $1,554/mo, and annual cash flow totals $5,358/yr on $61,162 invested. Return on cash invested prints 28.67% in year one, and rental yield reads 10.11% against a $184,500 entry. Equity gained on principal adds $1,191/yr, while 5% annual appreciation compiles into $50,974 by year five. Five-year ROI reaches 149.61% and total cumulative return in cash sums $91,502. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,554/mo property income covering a $903/mo payment, not borrower’s personal income.
Single Family
Built in 1961
0.40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46902, Kokomo, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,938 (100%) |
| Owner Occupied HU | 11,124 (62.0%) |
| Renter Occupied HU | 5,386 (30.0%) |
| Vacant Housing Units | 1,428 ( 8.0%) |
| Median Home Value | $188,290 |
| Average Home Value | $212,863 |
Housing Distribution
Address Breakdown
Residential
17,385
Single Family
15,243
Multi-Family
2,142
Businesses
1,038
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Listed by: Jordan R Moran • Modern Real Estate
Mls Name: IRMLS
Mls Provider:
Mls ID: #202508273
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.