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1205 New Field Lane Indianapolis, IN 46231

3 Beds 2 Baths 1,305 sqft Built 1979

$158,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $121.07
  • 8 Days on Market
  • MLS # : 21763787
  • Updated Date : 02/05/2021 at 14:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,305 sqft
  • Baths : 1 full , 1 half
Listing Agent

The Modglin Group

Listing Agent's Description

A MUST SEE, MOVE IN READY HOME!! Low maintenance ranch home on Indy's west side. This home boasts 3 spacious bedrooms and 1 and 1/2 baths. Warm up to the fire place in the winter and stay cool with the gorgeous inground pool in the HOT summer months. New roof and gutters in 2016, New vinyl windows through out home...New furnace and water heater in 2010

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: 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
Lynhurst 7th And 8th Grade Center Middle Regular 1,241 82 5
Ben Davis University High School High Regular 358 18 4
Ben Davis Ninth Grade Center High Regular 1,154 82 NA

Lynhurst 7th And 8th Grade Center

  • Education Level: Middle
  • # of students: 1,241
  • # of teachers: 82
5
GreatSchools Rating

Ben Davis University High School

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

Ben Davis Ninth Grade Center

  • Education Level: High
  • # of students: 1,154
  • # of teachers: 82
NA
GreatSchools Rating
 

$142,200$173,800$158,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$549
Property Tax -$294
Property Insurance -$52
Property Management Fees -$116
CASH FLOW
$279

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.

$158,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.82%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$47,620

INVESTMENT

$47,620

Down Payment
$39,500
Rehab Estimate
$5,750
Closing Costs
$2,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$549

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $39,500
Loan Amount $118,500
See What Happens When You Reinvest Cash Flow

11

YEARS SAVED

$26,793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,388

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2903$1,3254$1,349
$1,349
RENT COMPS ANALYSIS
  • 1205 New Field Lane Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.99
    •  
  • 1527 Stacy Lynn Drive Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1983
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.06
    •  
  • 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
    •  
  • 717 Prairie Depot Drive Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,261 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,261 Sqft ∙ Built 1990
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $1.07
    •  
PROPERTY LISTING DETAILS
Nathaniel Elkins
1.949.606.6719
The Modglin Group
BESbswy