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$219,000

For Sale - Active
225 S Carthage Rd, Charlottesville, IN 46117
4 Beds
2 Baths
1,682 Square Feet
0.18 Acres Lot
Built in 1906
For Sale - Active
Units n/a
Checked: 11 hours ago
Updated: Sep 24, 2025 at 10:20AM

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
-$346
Cap Rate
3.8%
Cash-on-Cash Return
-8.2%
Debt Coverage Ratio
0.67
Internal Rate of Return (5 years)
-4.0%

Property Description


0.18 Acres Lot
Built in 1906
For Sale - Active
Units n/a

Welcome to this beautifully updated 1.5-story home offering the perfect blend of modern upgrades and cozy charm. Featuring 4-bedrooms and 1.5-bathrooms, this home is move-in ready! Step inside to find a completely remodeled kitchen, with all new appliances! The home has new vinyl plank flooring throughout the main living areas and new carpet in all the bedrooms. There is fresh paint inside and out and all new fixtures throughout the home. This home also features a new HVAC system for year-round comfort and efficiency! With fresh landscaping and only 10 minutes from Greenfield, this property offers the convenience of city access while still enjoying a quiet suburban feel!

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Location


Property Details


Parking

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

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 9
  • # of Stories: 1
  • Basement: Yes

Exterior Features

  • Foundation: Block

Land Information

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

Lot Information

  • Parcel ID: 300835301015.000011
  • Lot Size: 7667 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Cape Cod, Traditional
  • Year Built: 1906

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Well, Private
  • Heating: Propane, Forced Air
  • Cooling: Central Air

Location

  • County: Hancock

Listing Details


Listed by:
Cory Parker
RE/MAX Real Estate Solutions
(765) 215-5770

Source:
MIBOR Broker Listing Cooperative
MLS#: 22036935
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
-$346
Cap Rate
3.8%
Cash-on-Cash Return
-8.2%
Debt Coverage Ratio
0.67
Internal Rate of Return (5 years)
-4.0%

Purchase Details

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Purchase price:
$219,000
Amount financed:
-$175,200
Down payment:
$43,800
Closing costs:
$6,570
Rehab costs:
$0
Initial cash invested:
$50,370
Square feet:
1,682
Cost per square foot:
$130
Monthly rent per square foot:
$0.59

Financing Details

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Loan amount:
$175,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,036
Property tax:
$0
Insurance:
$70
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,106

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:
-$1,036 -$12,432
Cash flow:
-$346 -$4,152