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136 1st Court Carmel, IN 46033

4 Beds 3 Baths 2,766 sqft Built 1974

$294,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $106.62
  • 3 Days on Market
  • MLS # : 21750986
  • Updated Date : 11/06/2020 at 08:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,766 sqft
  • Baths : 2 full , 1 half
Listing Agent

Red Bridge Real Estate

Listing Agent's Description

There is so much about this home that you will love! Amazing 2-story home in Carmel neighborhood. Lots of value in this terrific home. The home features 4 bedrooms, 2.5 bathrooms, great room w/fireplace, a nice-sized kitchen, 2 car attached garage, large backyard -  perfect for outside entertaining. A great investment opportunity!.

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: Cool Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k383k

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

Neighborhood: Cool Creek North

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
Mohawk Trails Elementary School Primary Regular 547 27 9
Clay Middle School Middle Regular 1,233 62 8
Carmel High School High Regular 4,830 251 10

Mohawk Trails Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 27
9
GreatSchools Rating

Clay Middle School

  • Education Level: Middle
  • # of students: 1,233
  • # of teachers: 62
8
GreatSchools Rating

Carmel High School

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

$265,410$324,390$294,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,088
Property Tax -$458
Property Insurance -$80
Property Management Fees -$180
CASH FLOW
$193

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.

$294,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.91%
Appreciation Year (1-5) 2.7%
Maintenance Year (1-5) 8.00%
Vacancy 11.18%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$83,899

INVESTMENT

$83,899

Down Payment
$73,725
Rehab Estimate
$5,750
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,725
Loan Amount $221,175
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$18,710

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,784

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,9003$2,000
$2,000
RENT COMPS ANALYSIS
  • 136 1st Court Carmel, IN 3
    • 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
  • 524 High Drive Carmel, IN 1
    • 3 beds 2 baths ∙ 2,805 Sqft ∙ Built 1968 3 beds 2 baths ∙ 2,805 Sqft ∙ Built 1968
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.60
    •  
  • 11644 Victoria Court Carmel, IN 2
    • 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 1990
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
PROPERTY LISTING DETAILS
Randy A. Placencia
Red Bridge Real Estate
BESbswy