9517 E State Route 250CanaanIN47224
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who value predictability will appreciate 9517 E State Route 250, Canaan, IN, 47224 in Canaan. At $219,900 it earns $1,736/mo in rent and distributes $416/mo to the owner after the $989/mo payment, a consistent 9.48% yield. DSCR 1.76 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $60,754 in value; $2,025/yr in principal paydown compounds ownership stake. Total projected return: $110,009.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.5% | 10.0% |
| Monthly Cash Flow | $416 | $300 |
City averages based on Canaan market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,736 |
| Total Monthly Debt Service | $1,233 |
| DSCR Ratio | 1.41x |
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.
Single Family
Built in 1958
1.05 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47224, Canaan, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 241 (100%) |
| Owner Occupied HU | 182 (75.5%) |
| Renter Occupied HU | 30 (12.4%) |
| Vacant Housing Units | 29 (12.0%) |
| Median Home Value | $270,690 |
| Average Home Value | $276,442 |
Housing Distribution
Address Breakdown
Residential
238
Single Family
238
Multi-Family
0
Businesses
7
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
Single Family
Built in 1958
1.05 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47224, Canaan, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 241 (100%) |
| Owner Occupied HU | 182 (75.5%) |
| Renter Occupied HU | 30 (12.4%) |
| Vacant Housing Units | 29 (12.0%) |
| Median Home Value | $270,690 |
| Average Home Value | $276,442 |
Housing Distribution
Address Breakdown
Residential
238
Single Family
238
Multi-Family
0
Businesses
7
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices