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1126 Ridgepointe Drive Indianapolis, IN 46234

3 Beds 2 Baths 1,040 sqft Built 1979

$154,900

List Price

$1,140

$1K - $1.3K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $148.94
  • 4 Days on Market
  • MLS # : 21755570
  • Updated Date : 12/03/2020 at 18:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,040 sqft
  • Baths : 1 full , 1 half
Listing Agent

The Modglin Group

Listing Agent's Description

All electric 3 bedroom home with extra office in garage that's heated and cooled great for that work from home area. New laminate flooring in living room, waterproof flooring in kitchen and laundry room. New carpet in all bedrooms and waterproof flooring in office. Full bath has been totally tiled, and master bedroom has 1/2 bath. 2 car garage, large mini barn and large yard to enjoy.

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Chapel Hill - Ben Davis

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $87k168k

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

Neighborhood: Chapel Hill - Ben Davis

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2800850900950100010501100115012001250Rent in $7941268

* 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
Chapel Glen Elementary School Primary Regular 735 44 4
Chapel Glen Elementary School Middle Regular 735 44 4
Ben Davis University High School High Regular 358 18 4

Chapel Glen Elementary School

  • Education Level: Primary
  • # of students: 735
  • # of teachers: 44
4
GreatSchools Rating

Chapel Glen Elementary School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 44
4
GreatSchools Rating

Ben Davis University High School

  • Education Level: High
  • # of students: 358
  • # of teachers: 18
4
GreatSchools Rating
 

$139,410$170,390$154,900

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$572
Property Tax -$288
Property Insurance -$47
Property Management Fees -$103
CASH FLOW
$130

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.

$154,900

PROJECTED PRICE

$1,140

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.1%
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

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$46,799

INVESTMENT

$46,799

Down Payment
$38,725
Rehab Estimate
$5,750
Closing Costs
$2,324

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$572

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $38,725
Loan Amount $116,175
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$13,726

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,141

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,125
1$1,1252$1,1403$1,3254$1,445
$1,445
RENT COMPS ANALYSIS
  • 1126 Ridgepointe Drive Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $1.10
    •  
  • 8426 Country Club Boulevard Indianapolis, IN 1
    • 3 beds 1 baths ∙ 1,046 Sqft ∙ Built 1995 3 beds 1 baths ∙ 1,046 Sqft ∙ Built 1995
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $1.08
    •  
  • 718 Spring Valley Court Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1977
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.06
    •  
  • 1612 Durden Court Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1988
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.15
    •  
PROPERTY LISTING DETAILS
Leah Veale
The Modglin Group
BESbswy