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115 West New York Street Fortville, IN 46040

3 Beds 2 Baths 1,530 sqft Built 1997

$215,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $140.52
  • 3 Days on Market
  • MLS # : 21766276
  • Updated Date : 02/26/2021 at 13:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,530 sqft
  • Baths : 2 full
Listing Agent

F.c. Tucker Company

Listing Agent's Description

Great opportunity close to downtown Fortville amenities. No HOA fees! Excellent lot on a cul-de-sac. Private tree-lined backyard with acres of woods behind it and farmland to another side. Renewed 20x12 wood deck with gray stain. Inside you will find a split bedroom floorplan separated by a large living room with vaulted ceiling, vinyl plank flooring, and ceiling fan. The kitchen includes all appliances and has a tile backsplash, new luxury vinyl tile flooring, and recently painted cabinets. Large master bedroom with window seat, walk in closet, and new fan. 2020 complete master bathroom remodel down to the studs featuring nice tile flooring, new tub, surround, and new fixtures. 2015 new roof. 2016 new AC. Mini barn included.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 46040

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $114k349k

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

Zip Code: 46040

ZipNIR Market*CityMarket2010Year2000 Q32019 Q21100120013001400150016001700180019002000Rent in $10402074

* 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
Fortville Elementary School Primary Regular 438 25 6
Mt. Vernon Middle School Middle Regular 842 51 6
Mt. Vernon High School High Regular 1,170 53 6

Fortville Elementary School

  • Education Level: Primary
  • # of students: 438
  • # of teachers: 25
6
GreatSchools Rating

Mt. Vernon Middle School

  • Education Level: Middle
  • # of students: 842
  • # of teachers: 51
6
GreatSchools Rating

Mt. Vernon High School

  • Education Level: High
  • # of students: 1,170
  • # of teachers: 53
6
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$747
Property Tax -$299
Property Insurance -$57
Property Management Fees -$123
CASH FLOW
$145

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.

$215,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.9%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$15,881

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,484

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,145
1$1,1452$1,2453$1,3704$1,495
$1,495
RENT COMPS ANALYSIS
  • 115 West New York Street Fortville, IN 3
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.90
    •  
  • 10751 Wymm Lane Ingalls, IN 1
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 2004
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.93
    •  
  • 10886 Wymm Lane Ingalls, IN 2
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 2004
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $1.00
    •  
  • 714 Bluff Creek Drive Fortville, IN 4
    • 4 beds 3 baths ∙ 1,520 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,520 Sqft ∙ Built 2003
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jeremy Sandlin
F.c. Tucker Company
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21766276
Last Updated: 02/26/2021
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