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10832 Tealpoint Drive Indianapolis, IN 46229

3 Beds 3 Baths 1,468 sqft Built 1997

$164,900

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $112.33
  • 4 Days on Market
  • MLS # : 21758737
  • Updated Date : 12/31/2020 at 10:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,468 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Indy Metro Ne

Listing Agent's Description

Stunning 3bed 2.5ba home with many new updates! New laminate flooring throughout main level installed in 2019. Brand new carpet installed in upper level and stairs. All bathrooms and laundry room have new vinyl tile flooring installed in April 2020. Master bedroom features a large walk in closet and a new jetted tub installed in April 2020. Kitchen features brand new backsplash and SS appliances! Large deck in backyard with beautiful views of the pond! Enjoy fishing in your own backyard! Home security surveillance system to stay with home. This one won't last long!

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: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $81k168k

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

Neighborhood: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7461268

* 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
Eastridge Elementary School Primary Regular 465 23 3
Creston Intermediate Academy Middle Regular 593 26 2
Warren Central High School High Regular 3,602 147 2

Eastridge Elementary School

  • Education Level: Primary
  • # of students: 465
  • # of teachers: 23
3
GreatSchools Rating

Creston Intermediate Academy

  • Education Level: Middle
  • # of students: 593
  • # of teachers: 26
2
GreatSchools Rating

Warren Central High School

  • Education Level: High
  • # of students: 3,602
  • # of teachers: 147
2
GreatSchools Rating
 

$148,410$181,390$164,900

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$608
Property Tax -$288
Property Insurance -$55
HOA -$24
Property Management Fees -$115
CASH FLOW
$189

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.

$164,900

PROJECTED PRICE

$1,280

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.45%
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$49,449

INVESTMENT

$49,449

Down Payment
$41,225
Rehab Estimate
$5,750
Closing Costs
$2,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$608

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,225
Loan Amount $123,675
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$19,908

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,193

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,199
1$1,1992$1,2653$1,2804$1,3455$1,345
$1,345
RENT COMPS ANALYSIS
  • 10832 Tealpoint Drive Indianapolis, IN 3
    • 3 beds 3 baths ∙ 1,468 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,468 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.87
    •  
  • 11327 Fairweather Place Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 2002
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.78
    •  
  • 1214 Dale Hollow Drive Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1993
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.88
    •  
  • 1938 Bradford Trace Way Indianapolis, IN 4
    • 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 1999
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.76
    •  
  • 2134 Lappin Court Indianapolis, IN 5
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1995
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.83
    •  
PROPERTY LISTING DETAILS
Corey Dawkins
1.317.640.0778
Keller Williams Indy Metro Ne
BESbswy