8975 E State Road 38, New Castle, IN, 47362 | $103/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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8975 E State Road 38, New Castle, IN, 47362 | $103/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 New Castle at 8975 E State Road 38, New Castle, IN, 47362 uses $49,692 cash to close to unlock $1,234/yr annual cash flow and $103/mo monthly cash flow. Total monthly income runs $1,003/mo, and a $734/mo payment keeps the spread at $103/mo. Purchase price stands at $149,900, and rental yield measures 8.03% with $1,003/mo rent. Return on cash invested shows 22.39% in year one, and 5% annual appreciation builds toward $41,415 over five years. Five-year ROI reaches 115.91% and total cumulative return in cash records $57,599. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,003/mo property income covering a $734/mo payment rather than investor’s personal income.

Single Family

Built in 1900

3.19 Acres lot

$N/A/sqft

No HOA

More details about the property

WOW, A REAL BARNOMINIUM!!! This was actually a Barn, converted into a 2 Bedroom Home!!! Extra Large Rooms, LIVING ROOM IS 20 X 11 AND MASTER BEDROOM IS 15 X 15!! Has a 4 Car ATTACHED Garage on one end and on other end is 2 more Attached Garages all on 3 Acres!!!! WHAT A DREAM COME TRUE! This will only go Conventional Loans or Cash of course! Also have an '67 Mobile Home that hasn't been lived in for don't know how long, But still is sturdy, maybe make something out of it with some TLC! THIS IS ONE OF A KIND PROPERTY BUT SURE WORTH LOOKING AT! Sold As Is.