863 E Harrison StMartinsvilleIN46151
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 863 E Harrison St, Martinsville, IN, 46151 in Martinsville hard to pass up. The 11.47% gross yield on a $305,000 purchase results in $2,916/mo in rent and $1,085/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.13). Annual cash flow of $13,022, five-year appreciation of $84,266, and $2,809/yr in equity build-up combine for a projected total cumulative return of $185,258.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.5% | 8.0% |
| Monthly Cash Flow | $1,085 | $300 |
City averages based on Martinsville market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,916 |
| Total Monthly Debt Service | $1,710 |
| DSCR Ratio | 1.71x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2023
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46151, Martinsville, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,840 (100%) |
| Owner Occupied HU | 10,004 (72.3%) |
| Renter Occupied HU | 2,981 (21.5%) |
| Vacant Housing Units | 855 ( 6.2%) |
| Median Home Value | $262,165 |
| Average Home Value | $300,956 |
Housing Distribution
Address Breakdown
Residential
13,100
Single Family
12,777
Multi-Family
323
Businesses
747
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 2023
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46151, Martinsville, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,840 (100%) |
| Owner Occupied HU | 10,004 (72.3%) |
| Renter Occupied HU | 2,981 (21.5%) |
| Vacant Housing Units | 855 ( 6.2%) |
| Median Home Value | $262,165 |
| Average Home Value | $300,956 |
Housing Distribution
Address Breakdown
Residential
13,100
Single Family
12,777
Multi-Family
323
Businesses
747
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Guoxi Liu • RE/MAX 1st Realty
Mls Name: MIBOR as distributed by MLS GRID
Mls ID: #21976269