Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1243 Bentley Way Carmel, IN 46032

3 Beds 3 Baths 2,529 sqft Built 1998

INVESTimate

$289,900

List Price

$2,100

$1,890 - $2,310

Rent Est.

$301,380  ( +3.96%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $114.63
  • 8 Days on Market
  • MLS # : 21732727
  • Updated Date : 08/24/2020 at 17:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,529 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Home

Listing Agent's Description

Fabulous Opportunity-Over 2500 sq ft+3 Car Garage for less than $300K! Totally Fenced Rear Yd Overlooks Trees+Large Pond w/Great Fishing! Huge 750 sq ft Deck Great for Entertaining! 3 Large BR's each w/Walk-in Closets+Huge Loft/Family Retreat could be converted to a 4th BR! Living Rm Opens to Family Rm w/Fireplace+Huge Kitchen & Brkfst Rm(w/Tile Floors)Opens to Deck! Lots of Cabinets(16 Upper Cabs+14 Lower Cabs+20' of Counter Space)Newer Stainless Steel Appliances(Refrig '16+Dishw '19+Convection Elect Range)New 30 Year Dimensional Roof scheduled to be installed soon! New Luxury Vinyl Plank Flooring(LR+FR+LOFT+BR's)New Stair Carpet+New Water Heater+Newer High Efficiency Furnace+New Garage Door+Master Bath w/Garden Tub+Sep Shwr+New Tile Floor

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: Bentley Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k383k

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

Neighborhood: Bentley Oaks

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q21200140016001800200022002400Rent in $10402565

* 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
Smoky Row Elementary School Primary Regular 634 30 10
Carmel Middle School Middle Regular 1,162 62 7
Carmel High School High Regular 4,830 251 10

Smoky Row Elementary School

  • Education Level: Primary
  • # of students: 634
  • # of teachers: 30
10
GreatSchools Rating

Carmel Middle School

  • Education Level: Middle
  • # of students: 1,162
  • # of teachers: 62
7
GreatSchools Rating

Carmel High School

  • Education Level: High
  • # of students: 4,830
  • # of teachers: 251
10
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,070
Property Tax -$398
Property Insurance -$76
HOA -$25
Property Management Fees -$189
CASH FLOW
$342

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 19% of earned rent to cover both maintenance and periods of vacancy.

$289,900

PROJECTED PRICE

$2,100

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.91%
Appreciation Year (1-5) 3.96%
Maintenance Year (1-5) 8.00%
Vacancy 11.18%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$34,768

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,131

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0953$2,1004$2,1905$2,200
$2,200
RENT COMPS ANALYSIS
  • 1243 Bentley Way Carmel, 3
    • 3 beds 3 baths ∙ 2,529 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,529 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 1370 Bentley Way Carmel, 1
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 1996
    property image
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 14388 Howe Drive Carmel, 2
    • 4 beds 3 baths ∙ 2,434 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,434 Sqft ∙ Built 1990
    property image
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.86
    •  
  • 290 Wyndotte Drive Carmel, 4
    • 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1997
    property image
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.88
    •  
  • 738 Howe Drive Carmel, 5
    • 4 beds 3 baths ∙ 2,815 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,815 Sqft ∙ Built 1989
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
PROPERTY LISTING DETAILS
Craig Sharpe
1.317.575.0606
Berkshire Hathaway Home
BESbswy