3405 East Meier Circle, Vincennes, IN, USA
Excellent
91/100This is an excellent deal — priced below the local market with healthy equity after repairs. Watch that the neighborhood scores low.
- 74% below area price per sqft
- $410k potential equity (188%)
- $1,985/mo positive cash flow
- 16.39% cap rate
- Neighborhood scores 67/100
Price vs. Market
ARV Assessment
Based on 5 recent sales within 0.5 miles, comparable condo homes of similar size traded between $456k and $594k. The subject's 1,874 sqft and 4bd/2ba layout supports a midpoint estimate of $530k.
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Property presents in full gut condition. Estimated rehab of $9k covers structural, mechanical, and full interior.
Sales-comparison approach weighted by recency, proximity, and price-per-sqft, adjusted for condition and lot. Confidence: moderate.
Rental Income
The Vincennes rental market shows soft demand. Median area rent is $794/mo with a 11% vacancy rate.
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Comparable 4bd units nearby rent for $2,740–$3,280. At $2,980/mo the gross yield is 29.8% of the purchase price.
Rent estimated from active and leased comps adjusted for size, condition, and submarket trends.
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