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12189 Belfry Drive Noblesville, IN 46060

3 Beds 3 Baths 1,812 sqft Built 2005

$199,900

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $110.32
  • 3 Days on Market
  • MLS # : 21759181
  • Updated Date : 02/13/2021 at 17:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,812 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wrightwood Realty

Listing Agent's Description

Welcome home! Check out this updated 3 bed / 2.5 bath in the popular Marilyn Ridge Subdivision in Noblesville. New granite countertop, new carpet upstairs, a fresh coat of paint, and many other updates throughout. No FHA loans due to 90 day flip rule.

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Marilyn Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $119k271k

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

Neighborhood: Marilyn Ridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2100010501100115012001250130013501400145015001550Rent in $9691588

* 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
Sand Creek Elementary School Primary Regular 827 38 6
Fishers Junior High School Middle Regular 1,072 56 8
Fishers High School High Regular 2,964 134 9

Sand Creek Elementary School

  • Education Level: Primary
  • # of students: 827
  • # of teachers: 38
6
GreatSchools Rating

Fishers Junior High School

  • Education Level: Middle
  • # of students: 1,072
  • # of teachers: 56
8
GreatSchools Rating

Fishers High School

  • Education Level: High
  • # of students: 2,964
  • # of teachers: 134
9
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$694
Property Tax -$306
Property Insurance -$62
HOA -$23
Property Management Fees -$122
CASH FLOW
$143

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.

$199,900

PROJECTED PRICE

$1,350

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.0%
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

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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$14,257

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,359

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4004$1,4755$1,550
$1,550
RENT COMPS ANALYSIS
  • 12189 Belfry Drive Noblesville, IN 1
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.75
    •  
  • 12176 Lindley Drive Noblesville, IN 2
    • 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2005
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.75
    •  
  • 12120 East 141st Street Noblesville, IN 3
    • 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 2006
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.72
    •  
  • 14169 Clapboard Drive Noblesville, IN 4
    • 3 beds 3 baths ∙ 1,940 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,940 Sqft ∙ Built 2006
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.76
    •  
  • 12189 Halite Lane Fishers, IN 5
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2006
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
PROPERTY LISTING DETAILS
Joseph Horan
Wrightwood Realty
BESbswy