85 E Morgan St, Spencer, IN, 47460 | $613/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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85 E Morgan St, Spencer, IN, 47460 | $613/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

Investment property for sale in Spencer at 85 E Morgan St, Spencer, IN, 47460 at $189,000 posts ROI 31.64% with $613/mo cash flow from $1,747/mo rent. Total monthly income equals $1,747/mo, and annual cash flow records $7,350/yr on $62,654 to close. Return on cash invested measures 31.64% and rental yield reads 11.09% at the current $189,000. Equity gained on principal adds $1,220/yr, and 5% annual appreciation supports $52,217 by year five. Five-year ROI prints 165.54% and total cumulative return in cash totals $103,714.
You can finance with Ziffy Mortgage’s DSCR loan, which relies on $1,747/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).

Single Family

Built in 1945

4,791 sqft lot

$N/A/sqft

No HOA

More details about the property

Welcome to 85 E Morgan Street! A charming and well-maintained home in the heart of Spencer! You'll love the inviting covered front porch and the beautifully landscaped yard, offering great curb appeal in an unbeatable location just seconds from Highway 231. Inside, this home blends timeless character with thoughtful updates, featuring original hardwood floors, a wood-burning fireplace with gas hookup, and custom built-in cabinets that add both charm and function. The updated full bathroom, new windows, new roof and gutters, freshly poured concrete, and new water heater with sump pump ensure peace of mind for years to come. The kitchen includes a pantry, and all appliances are included. The master bedroom features two closets, and there's attic access plus a full unfinished basement providing plenty of storage or potential for expansion. Zoned for business or residential use, this versatile property offers countless possibilities, whether you're looking for a home, office, or investment in a prime Spencer location!

Neighborhood Data

Neighborhood data shown for ZIP Code: 47460, Spencer, IN area.

Housing Distribution

Housing Statistics

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