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1037 West Main Street Greenwood, IN 46142

3 Beds 2 Baths 1,755 sqft Built 1958

$269,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $153.28
  • 4 Days on Market
  • MLS # : 21760621
  • Updated Date : 01/15/2021 at 07:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,755 sqft
  • Baths : 2 full
Listing Agent

Acup/morgan Team

Listing Agent's Description

Come and check out this awesome 3-4 bedroom/2 bath home located on 1.43 acres partially wooded lot. This home has a super nice 4 seasons room, updated bath, new roof with a leaf guard system, a stamped concrete patio, Hardwood floors, 6 panel wood doors, and lots more. Office downstairs could be a 4th bedroom easily. Lower level has stamped and textured concrete. Perimeter of the property has a underground invisible fence for dogs.

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Greenwood

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200kPrice in $119k207k

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

Neighborhood: Greenwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2105011001150120012501300135014001450150015501600Rent in $10401604

* 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
Westwood Elementary School Primary Regular 443 24 6
Greenwood Middle School Middle Regular 908 46 7
Greenwood Community High School High Regular 1,172 57 6

Westwood Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 24
6
GreatSchools Rating

Greenwood Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 46
7
GreatSchools Rating

Greenwood Community High School

  • Education Level: High
  • # of students: 1,172
  • # of teachers: 57
6
GreatSchools Rating
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$934
Property Tax -$334
Property Insurance -$61
Property Management Fees -$136
CASH FLOW
$45

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.

$269,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 5.3%
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$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$934

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$10,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,527

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5103$1,645
$1,645
RENT COMPS ANALYSIS
  • 1037 West Main Street Greenwood, IN 2
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.86
    •  
  • 1163 Cherryfield Lane Greenwood, IN 1
    • 4 beds 2 baths ∙ 1,908 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,908 Sqft ∙ Built 1961
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.73
    •  
  • 315 Sunset Boulevard Greenwood, IN 3
    • 4 beds 2 baths ∙ 1,632 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,632 Sqft ∙ Built 1957
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.01
    •  
PROPERTY LISTING DETAILS
Roxane Acup
Acup/morgan Team
BESbswy