987 E Summit StNorth VernonIN47265
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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
Investment Highlights
Investment property for sale in North Vernon at 987 E Summit St, North Vernon, IN, 47265 earns $365/mo cash flow from $1,680/mo rent with a $1,072/mo payment. Total monthly income totals $1,680/mo, and annual cash flow totals $4,383/yr on $72,599 capital. ROI tracks 25.95% on current figures, and rental yield reads 9.21% at a $219,000 purchase. Equity gained on principal adds $1,413/yr, and 5% annual appreciation supports $60,506 over five years. Five-year ROI reaches 135.04% and total cumulative return in cash sums $98,037. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,680/mo property income instead of your personal income.
Manufactured
Built in 2009
1 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47265, North Vernon, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,430 (100%) |
| Owner Occupied HU | 5,736 (68.0%) |
| Renter Occupied HU | 1,939 (23.0%) |
| Vacant Housing Units | 755 ( 9.0%) |
| Median Home Value | $172,770 |
| Average Home Value | $218,044 |
Housing Distribution
Address Breakdown
Residential
8,087
Single Family
7,915
Multi-Family
172
Businesses
506
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Listed by: Jerry Lamb • Coldwell Banker Martin Miller Lamb
Mls Name: MIBOR as distributed by MLS GRID
Mls ID: #22066019