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10406 Split Rock Way Indianapolis, IN 46234

3 Beds 3 Baths 2,035 sqft Built 2003

$230,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $113.02
  • 4 Days on Market
  • MLS # : 21768285
  • Updated Date : 03/05/2021 at 19:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,035 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Scheetz

Listing Agent's Description

Fantastic 3 bed/2 bath home in Meadows at Eagle Crossing. Large foyer opens to versatile flex space w/open views to large living room w/fireplace. Open floorplan w/new LVP flooring flows into breakfast room w/patio doors onto the spacious deck. Large kitchen w/island offers casual dining space and a place to gather. Huge loft upstairs!! Spacious owners suite w/walk in closet and full bath. Secondary bedrooms are light filled w/large closets, and ceiling fans. Amenities include pool, playground/park area. Home is just minutes from Eagle Creek Park! Updates include 2020 Air Filter, 2018 Furnace, 2017 Water Heater, 2015 water Purifier/Softener. LVP 2019.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 46234

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $104k221k

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

Zip Code: 46234

ZipNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250130013501400145015001550Rent in $9211551

* 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 Lick Elementary School Primary Regular 581 35 9
Brownsburg East Middle School Middle Regular 1,035 67 9
Brownsburg High School High Regular 2,442 125 9

White Lick Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 35
9
GreatSchools Rating

Brownsburg East Middle School

  • Education Level: Middle
  • # of students: 1,035
  • # of teachers: 67
9
GreatSchools Rating

Brownsburg High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 125
9
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$799
Property Tax -$313
Property Insurance -$66
HOA -$38
Property Management Fees -$122
CASH FLOW
$13

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.

$230,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.1%
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

PROJECTED ANNUAL CASH FLOW

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

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$5,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,384

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3503$1,4504$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 10406 Split Rock Way Indianapolis, IN 2
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.66
    •  
  • 6615 Wellspring Drive Brownsburg, IN 1
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2003
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.72
    •  
  • 10324 Butler Drive Brownsburg, IN 3
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2005
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.65
    •  
  • 10384 Yosemite Lane Indianapolis, IN 4
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2003
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.67
    •  
  • 5699 James Blair Drive Indianapolis, IN 5
    • 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2004
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
PROPERTY LISTING DETAILS
Kristen Yazel
1.317.721.2745
Century 21 Scheetz
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21768285
Last Updated: 03/05/2021
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