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10535 Lighthouse Way Indianapolis, IN 46256

4 Beds 3 Baths 1,984 sqft Built 1990

$250,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $126.01
  • 4 Days on Market
  • MLS # : 21765172
  • Updated Date : 02/13/2021 at 15:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,984 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Indy Metro Ne

Listing Agent's Description

Great Geist area 4 bed, 2.5 bath home with updates, tons of closets, mature trees, and full deck in a peaceful and friendly neighborhood! Just a 2 minute walk to a children's park and pool. This home has a remodeled kitchen with granite counters, stone backsplash, and a perfectly placed garden window. Master bathroom has been remodeled and features a walk-in shower, impressive stone wall and skylight. The master and another bedroom offer walk-in closets. The house has a continuous hot water on demand hot water heater (gas). One full bathroom has a sun tube bringing in natural sunlight. All appliances are included along with an outdoor spa! Enjoy more privacy in your yard than some newer developments in the area. All that's missing is you!

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: Geist

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k326k

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

Neighborhood: Geist

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2100012001400160018002000220024002600Rent in $9212631

* 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
Fall Creek Valley Middle School Middle Regular 1,159 57 3
Lawrence North High School High Regular 2,293 109 5

Fall Creek Valley Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 57
3
GreatSchools Rating

Lawrence North High School

  • Education Level: High
  • # of students: 2,293
  • # of teachers: 109
5
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$868
Property Tax -$390
Property Insurance -$65
HOA -$65
Property Management Fees -$152
CASH FLOW
$149

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.

$250,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.1%
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$700k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$14,947

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,820

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6903$1,6954$1,7255$1,850
$1,850
RENT COMPS ANALYSIS
  • 10535 Lighthouse Way Indianapolis, IN 2
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.85
    •  
  • 8738 Buckhaven Drive Indianapolis, IN 1
    • 4 beds 3 baths ∙ 1,764 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,764 Sqft ∙ Built 1988
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.86
    •  
  • 10331 Lakeland Drive Fishers, IN 3
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1996
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 10115 Red Tail Drive Fishers, IN 4
    • 4 beds 3 baths ∙ 1,863 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,863 Sqft ∙ Built 1995
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.93
    •  
  • 10980 Woodward Drive Fishers, IN 5
    • 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 1998
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
PROPERTY LISTING DETAILS
Stephanie Evelo
1.317.863.4663
Keller Williams Indy Metro Ne
BESbswy