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$145,000

For Sale - Active
403 N Main St, Linden, IN 47955
3 Beds
1 Bath
1,704 Square Feet
0.11 Acres Lot
Built in 1961
For Sale - Active
Units n/a
Checked: 14 hours ago
Updated: Aug 23, 2025 at 10:53AM

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
$154
Cap Rate
7.4%
Cash-on-Cash Return
5.5%
Debt Coverage Ratio
1.21
Internal Rate of Return (5 years)
9.4%

Property Description


0.11 Acres Lot
Built in 1961
For Sale - Active
Units n/a

Cute three-bedroom, one bath with few recent upgrades. The primary bedroom is on the main floor with two additional bedrooms upstairs. The laundry room has an entry/exit door. HVAC unit is at life expected level but is currently running so seller is offing $8000. at closing to help with purchase.

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Location


Property Details


Parking

  • Description: Detached
  • Details: Detached, Common
  • Garage Spaces: 1
  • 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: Yes

Exterior Features

  • Foundation: Slab

Land Information

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

Lot Information

  • Parcel ID: 540208332016.001017
  • Lot Size: 5009 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Bungalow
  • Year Built: 1961

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Private
  • Heating: Natural Gas
  • Cooling: Central Air

Location

  • County: Montgomery

Listing Details


Listed by:
Paula Maple
Highgarden Real Estate
(317) 201-6390

Source:
MIBOR Broker Listing Cooperative
MLS#: 22046707
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
$154
Cap Rate
7.4%
Cash-on-Cash Return
5.5%
Debt Coverage Ratio
1.21
Internal Rate of Return (5 years)
9.4%

Purchase Details

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Purchase price:
$145,000
Amount financed:
-$116,000
Down payment:
$29,000
Closing costs:
$4,350
Rehab costs:
$0
Initial cash invested:
$33,350
Square feet:
1,704
Cost per square foot:
$85
Monthly rent per square foot:
$0.76

Financing Details

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Loan amount:
$116,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$743
Property tax:
$0
Insurance:
$91
Private mortgage insurance (PMI):
$0
Monthly payment:
$834

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$1,300 $15,600
Vacancy loss: (6%)
6% -$78 -$936
Operating income:
$1,222 $14,664

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$91-$1,092
Property management: (8%)
8%-$104-$1,248
Repairs & maintenance: (5%)
5%-$65-$780
Capital expenditures: (5%)
5%-$65-$780
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$325-$3,900

Cash Flow


Monthly Yearly
Net operating income:
$897 $10,764
Mortgage payments:
-$743 -$8,916
Cash flow:
$154 $1,848