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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cool Creek North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$83,899
LOAN DETAILS
$1,088
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $73,725 |
| Loan Amount | $221,175 |
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
-
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
Red Bridge Real Estate
