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$120,000

For Sale - Active
1610 S F St, Elwood, IN 46036
3 Beds
1 Bath
1,044 Square Feet
0.20 Acres Lot
Built in 1940
For Sale - Active
Units n/a
Checked: 4 hours ago
Updated: Oct 01, 2025 at 10:17AM

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$122
Cap Rate
6.9%
Cash-on-Cash Return
5.3%
Debt Coverage Ratio
1.21
Internal Rate of Return (5 years)
9.2%

Property Description


0.20 Acres Lot
Built in 1940
For Sale - Active
Units n/a

Easy Living with this 1-Level renovated home in thriving Elwood. The majority of the home features Brazilian Cherry Hardwood Floors! The fully updated interior includes a stylish bathroom featuring tiled flooring, a tiled tub/shower surround, a new vanity, mirror, and contemporary lighting. The kitchen comes complete with all major appliances, and the included washer and dryer make moving in effortless. Most of the windows have been upgraded to energy-efficient vinyl, helping keep utility costs down while letting in abundant natural light. Enjoy the outdoors with a spacious, partially fenced backyard-perfect for relaxing, entertaining, or pets-and a charming front porch that adds great curb appeal. Its peaceful and quiet living in Elwood! With acceptable offer seller will have front portion of home's roof replaced (back portion is newer) including any fascia work and gutters.

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Location


Property Details


Parking

  • Details: Gravel
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 1
  • Basement Description: Crawl Space

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 480415203162.000027
  • Lot Size: 8712 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch, Traditional
  • Year Built: 1940

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Public
  • Heating: Baseboard, Forced Air
  • Cooling: None

Location

  • County: Madison

Listing Details


Listed by:
James Smock
F.C. Tucker Company
(317) 695-3369

Source:
MIBOR Broker Listing Cooperative
MLS#: 22037724
MIBOR Broker Listing Cooperative

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$122
Cap Rate
6.9%
Cash-on-Cash Return
5.3%
Debt Coverage Ratio
1.21
Internal Rate of Return (5 years)
9.2%

Purchase Details

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Purchase price:
$120,000
Amount financed:
-$96,000
Down payment:
$24,000
Closing costs:
$3,600
Rehab costs:
$0
Initial cash invested:
$27,600
Square feet:
1,044
Cost per square foot:
$115
Monthly rent per square foot:
$0.96

Financing Details

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Loan amount:
$96,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$568
Property tax:
$0
Insurance:
$70
Private mortgage insurance (PMI):
$0
Monthly payment:
$638

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,000 $12,000
Vacancy loss: (6%)
6% -$60 -$720
Operating income:
$940 $11,280

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$70-$840
Property management: (8%)
8%-$80-$960
Repairs & maintenance: (5%)
5%-$50-$600
Capital expenditures: (5%)
5%-$50-$600
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$250-$3,000

Cash Flow


Monthly Yearly
Net operating income:
$690 $8,280
Mortgage payments:
-$568 -$6,816
Cash flow:
$122 $1,464