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10853 Gate Circle Fishers, IN 46038

3 Beds 3 Baths 1,701 sqft Built 1990

$260,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $152.85
  • 3 Days on Market
  • MLS # : 21757705
  • Updated Date : 12/19/2020 at 14:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,701 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Home

Listing Agent's Description

Welcome Home! Completely gutted and remodeled master bath, this 3 Bedroom/2.5 Bath West Fishers gem is ready for new owners. Front flex rm & Dining Rm are flooded w/natural light. The Kitchen leading into the family room is the heart of the home. Updated cabinets, granite, tile backsplash & center island make the kitchen dreamy. Plus the added coffee/wine space is the perfect custom update. Wood burning fireplace with brick hearth is flanked by bookshelves! Upstairs the Master has vaulted ceilings & walk in closet. Spa style Master Bath has Freestanding claw-style tub & gorgeous tile shower! 2 addt bedrooms upstairs plus rehabbed Hall BA. Large Fenced yard w/no neighbors behind.

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: Gatewood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $119k269k

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

Neighborhood: Gatewood

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2110012001300140015001600170018001900Rent in $10401990

* 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
New Britton Elementary School Primary Regular 621 31 9
Riverside Intermediate School Middle Regular 984 53 8
Fishers High School High Regular 2,964 134 9

New Britton Elementary School

  • Education Level: Primary
  • # of students: 621
  • # of teachers: 31
9
GreatSchools Rating

Riverside Intermediate School

  • Education Level: Middle
  • # of students: 984
  • # of teachers: 53
8
GreatSchools Rating

Fishers High School

  • Education Level: High
  • # of students: 2,964
  • # of teachers: 134
9
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$959
Property Tax -$390
Property Insurance -$60
HOA -$17
Property Management Fees -$145
CASH FLOW
$39

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.

$260,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.6%
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$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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,375

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,603

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4504$1,5505$1,610
$1,610
RENT COMPS ANALYSIS
  • 10853 Gate Circle Fishers, IN 5
    • 3 beds 3 baths ∙ 1,701 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,701 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.95
    •  
  • 7717 Cambridge Drive Fishers, IN 1
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1978
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 6546 Quail Run Fishers, IN 2
    • 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1997
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 11508 Cherry Blossom Drive E Fishers, IN 3
    • 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 1988
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 6863 Cherry Laurel Lane Fishers, IN 4
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1989
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jennifer Shopp
1.317.564.7111
Berkshire Hathaway Home
BESbswy