Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1128 Barrington Drive Greenwood, IN 46143

4 Beds 3 Baths 2,100 sqft Built 1994

$260,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $123.81
  • 2 Days on Market
  • MLS # : 21771214
  • Updated Date : 03/13/2021 at 15:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,100 sqft
  • Baths : 2 full , 1 half
Listing Agent

Trahan Realty Group

Listing Agent's Description

Beautiful home in a great neighborhood that is move in Ready. This 4 bedroom home has been updated with new flooring, new kitchen counter tops, new paint, new fixtures and much more. Roof, hvac sytem, garage door are less then 5 years old. Enjoy family gatherings on the back deck or by the firepit.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Greenwood

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k222k

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

Neighborhood: Greenwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2105011001150120012501300135014001450150015501600Rent in $10401604

* 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
Westwood Elementary School Primary Regular 443 24 6
Greenwood Middle School Middle Regular 908 46 7
Greenwood Community High School High Regular 1,172 57 6

Westwood Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 24
6
GreatSchools Rating

Greenwood Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 46
7
GreatSchools Rating

Greenwood Community High School

  • Education Level: High
  • # of students: 1,172
  • # of teachers: 57
6
GreatSchools Rating
 

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

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$903
Property Tax -$323
Property Insurance -$68
HOA -$42
Property Management Fees -$140
CASH FLOW
$85

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

$1,560

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$12,539

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,439

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3953$1,4954$1,5605$1,565
$1,565
RENT COMPS ANALYSIS
  • 1128 Barrington Drive Greenwood, IN 4
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.74
    •  
  • 244 Westridge Boulevard Greenwood, IN 1
    • 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 1994
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.68
    •  
  • 668 Day Break Drive Greenwood, IN 2
    • 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2004
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.70
    •  
  • 1131 Clark Drive Greenwood, IN 3
    • 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 1994
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.65
    •  
  • 1445 Hunters Lane Greenwood, IN 5
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1991
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.71
    •  
PROPERTY LISTING DETAILS
Melissa Trahan
1.317.560.0063
Trahan Realty Group
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21771214
Last Updated: 03/13/2021
BESbswy