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1027 Ashland Avenue New Whiteland, IN 46184

4 Beds 1 Baths 1,073 sqft Built 1970

$150,000

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $139.79
  • 7 Days on Market
  • MLS # : 21751289
  • Updated Date : 11/13/2020 at 10:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,073 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Indy Metro S

Listing Agent's Description

Great Family home with 4BR in popular New Whiteland neighborhood. Fresh paint, new carpet in living, hall, & bedrooms. New walk-in shower with seat, grab bar & lighting. Utility/mud room with W/D plus cabinets for storage. All appliances are included in the spacious eat-in kitchen. Spend time entertaining with friends & family in the fully fenced shady back yard. Mini-barn to store all your outside equipment with electricity. Extra deep 1 car garage. Enjoy daily walks around the neighborhood & have your mail delivered to your front door.

SEE MORE

  • Indianapolis metro contributes to 39.8% of Indiana state economy i.e. Gross State Product (USMayors.org, 2018)
  • Indianapolis metro employment growth is at 1.6% and predicted to grow at 1.8% in 2019 (USMayors.org, 2018)
  • Indiana state (in turn Indianapolis being part of Indiana) ranks 10th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019)
  • Indianapolis metro's economy is worth $149.7 billion in Gross Metro Product and projected to grow to $158.1 billion in 2019 (USMayors.org, 2018)
  • Indianapolis metro has 65.5% labor force participation rate higher than the national rate 62.8%. The participation is expected to grow to 66.2% in 2020 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 46184

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $82k168k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 46184

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210001020104010601080110011201140116011801200122012401260Rent in $9991270

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Break-o-day Elementary School Primary Regular 515 25 6
Clark Pleasant Middle School Middle Regular 988 46 8
Whiteland Community High School High Regular 1,767 69 6

Break-o-day Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 25
6
GreatSchools Rating

Clark Pleasant Middle School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 46
8
GreatSchools Rating

Whiteland Community High School

  • Education Level: High
  • # of students: 1,767
  • # of teachers: 69
6
GreatSchools Rating
 

$135,000$165,000$150,000

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$553
Property Tax -$205
Property Insurance -$48
Property Management Fees -$98
CASH FLOW
$186

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$150,000

PROJECTED PRICE

$1,090

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,500

INVESTMENT

$45,500

Down Payment
$37,500
Rehab Estimate
$5,750
Closing Costs
$2,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,500
Loan Amount $112,500
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$23,334

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,090

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $939

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,035
1$1,0352$1,0903$1,0954$1,0955$1,240
$1,240
RENT COMPS ANALYSIS
  • 1027 Ashland Avenue New Whiteland, IN 2
    • 4 beds 1 baths ∙ 1,073 Sqft ∙ Built 1970 4 beds 1 baths ∙ 1,073 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $1.02
    •  
  • 243 Tracy Road New Whiteland, IN 1
    • 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 1968
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,035
    • $0.81
    •  
  • 208 Crestwood Drive New Whiteland, IN 3
    • 3 beds 1 baths ∙ 1,221 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,221 Sqft ∙ Built 1956
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.90
    •  
  • 1107 Warwick Road New Whiteland, IN 4
    • 3 beds 1 baths ∙ 1,318 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,318 Sqft ∙ Built 1971
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.83
    •  
  • 426 Pleasant Drive New Whiteland, IN 5
    • 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 1958
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.96
    •  
PROPERTY LISTING DETAILS
Beverly A. Beers
Keller Williams Indy Metro S
BESbswy