830 Jefferson St, Covington, IN, 47932 | $268/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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830 Jefferson St, Covington, IN, 47932 | $268/mo Cash Flow | Ziffy

For Sale

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

Rental property for sale in Covington at 830 Jefferson St, Covington, IN, 47932 offers $1,259/mo rent that, after a $808/mo payment, leaves $268/mo cash flow. Total monthly income is $1,259/mo, and annual cash flow is $3,217/yr on $54,698 cash. Return on cash invested measures 25.79% in year one, and rental yield stands at 9.16% at a $165,000 entry. Equity gained on principal adds $1,065/yr while 5% annual appreciation compounds into $45,586 by year five. Five-year ROI records 134.24% and total cumulative return in cash reaches $73,427. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,259/mo property income versus a $808/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.

Single Family

Built in 1976

8,712 sqft lot

$N/A/sqft

No HOA

More details about the property

Charming brick 2BR/1BA home in Covington featuring fresh vinyl plank flooring, a spacious loft, and a bright enclosed sunroom with a gas fireplace-perfect for extra living space, a home office, or a playroom. The open-concept family room flows into an eat-in kitchen, and a convenient laundry closet is tucked just off the kitchen. Outside, you'll find a detached 2-car garage, a 6' x 18' storage shed, and a fully fenced backyard. Previous owner improvements include a newer water heater (2022) and ridge caps (2021). The loft offers the potential to be converted into a third bedroom, with room for a standard staircase and the possibility of adding a second bathroom as well. Located close to downtown shopping, dining, parks, the library, and local walking/bike trails-this home blends small-town charm with everyday convenience. Brokers/Agents: Please read Private Remarks.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47932, Covington, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	2,441 (100%)
Owner Occupied HU	1,793 (73.5%)
Renter Occupied HU	480 (19.7%)
Vacant Housing Units	168 ( 6.9%)
Median Home Value	$176,518
Average Home Value	$198,095