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105 Howard Road Greenwood, IN 46142

3 Beds 1 Baths 1,275 sqft Built 1970

$159,000

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1970
  • Price/Sqft : $124.71
  • 2 Days on Market
  • MLS # : 21750218
  • Updated Date : 11/02/2020 at 14:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,275 sqft
  • Baths : 1 full
Listing Agent

Diamond Realty, Inc

Listing Agent's Description

Greenwood Opportunity! It is nice 3 bedrooms, 1 bath house located on Howard street with NO HOA fee. It could be Great Investment opportunity. It will sold AS-IS. House have nice backyard and 2 car detached garage.

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: 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
Southwest Elementary School Primary Regular 502 30 6
Greenwood Middle School Middle Regular 908 46 7
Greenwood Community High School High Regular 1,172 57 6

Southwest Elementary School

  • Education Level: Primary
  • # of students: 502
  • # of teachers: 30
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
 

$143,100$174,900$159,000

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$587
Property Tax -$200
Property Insurance -$52
Property Management Fees -$95
CASH FLOW
$126

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.

$159,000

PROJECTED PRICE

$1,060

PROJECTED RENT

0.67%

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

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$47,885

INVESTMENT

$47,885

Down Payment
$39,750
Rehab Estimate
$5,750
Closing Costs
$2,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $39,750
Loan Amount $119,250
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$16,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,116

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$875
1$8752$1,0603$1,1754$1,3155$1,335
$1,335
RENT COMPS ANALYSIS
  • 105 Howard Road Greenwood, IN 2
    • 3 beds 1 baths ∙ 1,275 Sqft ∙ Built 1970 3 beds 1 baths ∙ 1,275 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $0.83
    •  
  • 809 Riverside Drive Greenwood, IN 1
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1967
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.88
    •  
  • 1126 Barefoot Trail Greenwood, IN 3
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1966
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.86
    •  
  • 1288 West Stillwater Lane Greenwood, IN 4
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1979
    property image
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,315
    • $0.87
    •  
  • 144 Plymouth Rock Court Greenwood, IN 5
    • 4 beds 2 baths ∙ 1,496 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,496 Sqft ∙ Built 1980
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $0.89
    •  
PROPERTY LISTING DETAILS
Rajwinder Kaur
1.317.985.1333
Diamond Realty, Inc
BESbswy