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10319 Cerulean Drive Noblesville, IN 46060

3 Beds 3 Baths 1,774 sqft Built 1997

$215,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $121.20
  • 3 Days on Market
  • MLS # : 21763235
  • Updated Date : 01/29/2021 at 14:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,774 sqft
  • Baths : 2 full , 1 half
Listing Agent

Highgarden Real Estate

Listing Agent's Description

Lovely family home in Meadows Glen! 3 bed with several living areas for the family, great deck and a fire pit for outdoor entertaining! Fresh paint throughout, new carpet upstairs, new dishwasher and garbage disposal. Neighborhood sidewalks, playground, pool, nicely sized lots. Well-taken care of home-- this will not last!

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

Neighborhood: Meadows Knoll

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k252k

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

Neighborhood: Meadows Knoll

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10401588

* 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
White River Elementary School Primary Regular 721 32 5
Noblesville East Middle School Middle Regular 1,018 57 7
Noblesville High School High Regular 2,685 137 8

White River Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 32
5
GreatSchools Rating

Noblesville East Middle School

  • Education Level: Middle
  • # of students: 1,018
  • # of teachers: 57
7
GreatSchools Rating

Noblesville High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 137
8
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$747
Property Tax -$352
Property Insurance -$61
HOA -$33
Property Management Fees -$135
CASH FLOW
$172

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.

$215,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.07%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$16,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,555

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,335
1$1,3352$1,3953$1,5004$1,600
$1,600
RENT COMPS ANALYSIS
  • 10319 Cerulean Drive Noblesville, IN 3
    • 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
  • 19182 Welkin Court Noblesville, IN 1
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1998
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $0.86
    •  
  • 10254 Carmine Drive Noblesville, IN 2
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1995
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.84
    •  
  • 19009 Fairfield Boulevard Noblesville, IN 4
    • 4 beds 3 baths ∙ 1,725 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,725 Sqft ∙ Built 1991
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
PROPERTY LISTING DETAILS
Katie Penny
1.317.586.3545
Highgarden Real Estate
BESbswy