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

12538 Slippery Rock Road Indianapolis, IN 46236

3 Beds 2 Baths 1,264 sqft Built 1993

$170,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $134.49
  • 5 Days on Market
  • MLS # : 21759922
  • Updated Date : 02/17/2021 at 17:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,264 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Indy Metro Ne

Listing Agent's Description

Adorable ranch in a great location with tons of updates! This split bedroom floor plan features new paint & flooring (carpet and vinyl plank) throughout. Spacious updated, eat-in kitchen with reverse osmosis system (2019), newer appliances - oven/range hood (2020), refrigerator (2019), dishwasher (2016), bay window (faux wood blinds) & pass-through to Great Room. Owner's Suite features updated bath & walk-in closet. Large Great Room has new patio door (2021) with vaulted ceilings & gas fireplace. There's more...finished garage with new door, Wi-Fi opener & pull-down stairs to attic storage, plus newer A/C unit (2019) and paid water softener. The cedar privacy fence and oversized patio provide outside living space for warm weather fun!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Geist

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k326k

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

Neighborhood: Geist

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2100012001400160018002000220024002600Rent in $9212631

* 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
Fall Creek Valley Middle School Middle Regular 1,159 57 3
Lawrence North High School High Regular 2,293 109 5

Fall Creek Valley Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 57
3
GreatSchools Rating

Lawrence North High School

  • Education Level: High
  • # of students: 2,293
  • # of teachers: 109
5
GreatSchools Rating
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$590
Property Tax -$265
Property Insurance -$52
Property Management Fees -$107
CASH FLOW
$176

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.

$170,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.1%
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

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$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$17,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,182

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,190
1$1,1902$1,2453$1,2954$1,3005$1,395
$1,395
RENT COMPS ANALYSIS
  • 12538 Slippery Rock Road Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.94
    •  
  • 7310 Red Rock Road Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1992
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.88
    •  
  • 7432 Pebblebrooke West Drive Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1988
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.90
    •  
  • 12403 East 75th Street Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1993
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
  • 7403 Red Rock Road Indianapolis, IN 5
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1991
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.02
    •  
PROPERTY LISTING DETAILS
Dixie Oberlin
Keller Williams Indy Metro Ne
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21759922
Last Updated: 02/17/2021
BESbswy