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1322 White Ash Drive Greenwood, IN 46143

3 Beds 3 Baths 2,004 sqft Built 1999

$255,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $127.25
  • 4 Days on Market
  • MLS # : 21765209
  • Updated Date : 02/11/2021 at 09:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,004 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Indy Metro S

Listing Agent's Description

Olive Branch Manor// One Owner – Immaculately taken care of 2-Story in Center Grove!! Open floor plan that makes for amazing entertainment space! Gas Fireplace perfect for a cozy winter’s day/evening. Front room is optional space that could be used for a living room/den/office, etc… Upstairs offers 3 bedrooms with an additional room attached that could be closed off for a 4th bedroom/office/playroom, etc... Upstairs laundry for your convenience! Home situated on a tree-line lot offering backyard privacy. Finished garage! All Appliances stay including washer & dryer. Must See - Schedule your showing Today!!

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

Zip Code: 46143

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k222k

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

Zip Code: 46143

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10401572

* 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 Grove Elementary School Primary Regular 684 33 7
Center Grove Middle School North Middle Regular 884 50 7
Center Grove High School High Regular 2,455 112 9

Sugar Grove Elementary School

  • Education Level: Primary
  • # of students: 684
  • # of teachers: 33
7
GreatSchools Rating

Center Grove Middle School North

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 50
7
GreatSchools Rating

Center Grove High School

  • Education Level: High
  • # of students: 2,455
  • # of teachers: 112
9
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$886
Property Tax -$288
Property Insurance -$66
HOA -$32
Property Management Fees -$149
CASH FLOW
$231

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.

$255,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.8%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$25,428

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,483

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,5653$1,6504$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 1322 White Ash Drive Greenwood, IN 3
    • 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 1429 Frontier Drive Greenwood, IN 1
    • 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2006
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.71
    •  
  • 1445 Hunters Lane Greenwood, IN 2
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1991
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.71
    •  
  • 1434 Preston Court Greenwood, IN 4
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1994
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 4253 Blue Spruce Court Greenwood, IN 5
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1997
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.73
    •  
PROPERTY LISTING DETAILS
Katy Zirkelbach
Keller Williams Indy Metro S
BESbswy