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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Chapel Hill - Ben Davis
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$47,620
LOAN DETAILS
$549
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $39,500 |
| Loan Amount | $118,500 |
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
-
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
1.949.606.6719
The Modglin Group
