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13438 Allegiance Drive Fishers, IN 46037

3 Beds 2 Baths 1,375 sqft Built 2003

$189,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $138.11
  • 3 Days on Market
  • MLS # : 21760685
  • Updated Date : 01/29/2021 at 13:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,375 sqft
  • Baths : 2 full
Listing Agent

F.c. Tucker Company

Listing Agent's Description

Charming, well maintained 3 Bedrooms, 2 bath ranch home located in Brooks Chase neighborhood in FISHERS. This home has laminate flooring throughout most of the home. The master offers a spacious room with a walk-in closet, heated tile in the master bath to warm your time in there. The open concept of the kitchen, dining, and main living space make this home great for entertaining. New roof installed 2020 and new HVAC installed 2021 Subdivision has so much to offer: walking paths, ponds, playgrounds, etc. Minutes away from entertainment, dining, shopping, parks, and I69. Just turn the key, call it home!

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: Brooks Chase

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $119k269k

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

Neighborhood: Brooks Chase

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2110012001300140015001600170018001900Rent in $10401990

* 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
Brooks School Elementary School Primary Regular 969 43 8
Hamilton Southeastern High School High Regular 3,017 135 9
Brooks School Elementary School Primary Unknown NA

Brooks School Elementary School

  • Education Level: Primary
  • # of students: 969
  • # of teachers: 43
8
GreatSchools Rating

Hamilton Southeastern High School

  • Education Level: High
  • # of students: 3,017
  • # of teachers: 135
9
GreatSchools Rating

Brooks School Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$660
Property Tax -$285
Property Insurance -$54
HOA -$32
Property Management Fees -$113
CASH FLOW
$108

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.

$189,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.9%
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

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$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$11,096

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,348

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2503$1,3954$1,3955$1,500
$1,500
RENT COMPS ANALYSIS
  • 13438 Allegiance Drive Fishers, IN 2
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.91
    •  
  • 12925 Old Glory Drive Fishers, IN 1
    • 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 2003
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.98
    •  
  • 12238 East 141st Street Noblesville, IN 3
    • 3 beds 3 baths ∙ 1,414 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,414 Sqft ∙ Built 2007
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.99
    •  
  • 12586 Loyalty Drive Fishers, IN 4
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2004
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.94
    •  
  • 12983 Quarterback Lane Fishers, IN 5
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2005
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jill Freeh
1.317.201.3600
F.c. Tucker Company
BESbswy