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11134 Schoolhouse Road Fishers, IN 46037

4 Beds 3 Baths 2,280 sqft Built 2004

$248,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $108.77
  • 3 Days on Market
  • MLS # : 21753086
  • Updated Date : 11/21/2020 at 08:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,280 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Ability Plus

Listing Agent's Description

Pride of ownership is evident in this well maintained home. Fresh paint - move in ready! New Pergo flooring with a lifetime warranty on the first floor. Working from home your new normal? One bedroom updated to be a home office with french doors. All appliances including the washer and dryer remain with the property. Kitchen has a granite sink, island and huge pantry. Spacious family room has ceiling fan and light. Master features separate closets, double sink vanity and new childproof blinds. Efficient hybrid gas/electric furnace. Garage is fully insulated including garage door. Upstairs has all new carpet, laundry room with new cabinets, walk-in closets and ceiling fan/light in bedrooms. Updated hall bath with double sink vanity.

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sumerlin Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $119k269k

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

Neighborhood: Sumerlin Trails

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
Sand Creek Intermediate School Primary Regular 1,144 53 8
Fishers Junior High School Middle Regular 1,072 56 8
Hamilton Southeastern High School High Regular 3,017 135 9

Sand Creek Intermediate School

  • Education Level: Primary
  • # of students: 1,144
  • # of teachers: 53
8
GreatSchools Rating

Fishers Junior High School

  • Education Level: Middle
  • # of students: 1,072
  • # of teachers: 56
8
GreatSchools Rating

Hamilton Southeastern High School

  • Education Level: High
  • # of students: 3,017
  • # of teachers: 135
9
GreatSchools Rating
 

$223,200$272,800$248,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$915
Property Tax -$372
Property Insurance -$71
HOA -$32
Property Management Fees -$147
CASH FLOW
$93

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.

$248,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.66%

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$71,470

INVESTMENT

$71,470

Down Payment
$62,000
Rehab Estimate
$5,750
Closing Costs
$3,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$915

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,000
Loan Amount $186,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$13,860

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,733

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6303$1,6354$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 11134 Schoolhouse Road Fishers, IN 2
    • 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.71
    •  
  • 10880 Sweet Creek Trail Fishers, IN 1
    • 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 2002
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.70
    •  
  • 10514 Blue Springs Lane Fishers, IN 3
    • 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 2001
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.78
    •  
  • 12351 Blue Sky Drive Fishers, IN 4
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 1999
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 10487 Blue Sky Drive Fishers, IN 5
    • 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 2000
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
PROPERTY LISTING DETAILS
Gail E. Watts
1.317.513.0019
Re/max Ability Plus
BESbswy