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12225 Dunbar Court Indianapolis, IN 46229

3 Beds 2 Baths 1,727 sqft Built 1969

$178,000

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1969
  • Price/Sqft : $103.07
  • 2 Days on Market
  • MLS # : 21750080
  • Updated Date : 11/02/2020 at 09:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,727 sqft
  • Baths : 1 full , 1 half
Listing Agent

Re/max At The Crossing

Listing Agent's Description

GREAT BRICK RANCH WITH 3 BEDROOMS & 1.5 BATHS plus ceramic tile floor in the kitchen/ dining area. The kitchen offers you lots of cabinets space plus a pantry closet. This open concept floor plan allows for easy entertaining with family and friends. Park-like back yard is fully fenced with mature trees. Sits on quiet cul-de-sac in Cumberland Heights. This could be the home on your wish list!

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: Cumberland

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160kPrice in $79k168k

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

Neighborhood: Cumberland

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250Rent in $9211278

* 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
Sugar Creek Elementary School Primary Regular 786 28 7
Doe Creek Middle School Middle Regular 571 25 8
New Palestine High School High Regular 1,096 48 7

Sugar Creek Elementary School

  • Education Level: Primary
  • # of students: 786
  • # of teachers: 28
7
GreatSchools Rating

Doe Creek Middle School

  • Education Level: Middle
  • # of students: 571
  • # of teachers: 25
8
GreatSchools Rating

New Palestine High School

  • Education Level: High
  • # of students: 1,096
  • # of teachers: 48
7
GreatSchools Rating
 

$160,200$195,800$178,000

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$657
Property Tax -$248
Property Insurance -$60
Property Management Fees -$104
CASH FLOW
$91

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.

$178,000

PROJECTED PRICE

$1,160

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 4.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

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$52,920

INVESTMENT

$52,920

Down Payment
$44,500
Rehab Estimate
$5,750
Closing Costs
$2,670

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,500
Loan Amount $133,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$12,964

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,192

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,1453$1,1604$1,2005$1,295
$1,295
RENT COMPS ANALYSIS
  • 12225 Dunbar Court Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.67
    •  
  • 1702 North Arley Drive Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1972
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.72
    •  
  • 11329 East Bremerton Indianapolis, IN 2
    • 4 beds 3 baths ∙ 1,744 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,744 Sqft ∙ Built 1986
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.66
    •  
  • 1651 Mutz Drive Indianapolis, IN 4
    • 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1971
    LEASED 05/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.65
    •  
  • 850 North Muessing Street Indianapolis, IN 5
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1963
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.73
    •  
PROPERTY LISTING DETAILS
Kristal S. Munoz
Re/max At The Crossing
BESbswy