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

14290 Weeping Cherry Drive Fishers, IN 46038

3 Beds 3 Baths 2,354 sqft Built 1999

$260,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $110.45
  • 3 Days on Market
  • MLS # : 21759140
  • Updated Date : 01/16/2021 at 11:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,354 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Indpls Metro N

Listing Agent's Description

Fantastic 3 bed/2.5 bath home with several updates! Separate living room greets you upon entering and brick fireplace warms up the great room. Updated kitchen with stainless steel appliances, gorgeous granite counters and backsplash. Large pantry and laundry off kitchen. Upstairs includes three sizable bedrooms, all with walk-in closets. Additional loft space great for office/den. Master bedroom includes extra sitting room and updated double vanity and extravagant shower! Huge walk-in closet! Enjoy the pond view and firepit in your fenced in yard along with your short drive to HTC and downtown Fishers. This one is a must see.

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: Woodberry

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $119k269k

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

Neighborhood: Woodberry

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
Sand Creek Intermediate School Primary Regular 1,144 53 8
Fishers Junior High School Middle Regular 1,072 56 8
Fishers High School High Regular 2,964 134 9

Sand Creek Intermediate School

  • Education Level: Primary
  • # of students: 1,144
  • # of teachers: 53
8
GreatSchools Rating

Fishers Junior High School

  • Education Level: Middle
  • # of students: 1,072
  • # of teachers: 56
8
GreatSchools Rating

Fishers High School

  • Education Level: High
  • # of students: 2,964
  • # of teachers: 134
9
GreatSchools Rating
 

$234,000$286,000$260,000

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 -$903
Property Tax -$390
Property Insurance -$73
HOA -$17
Property Management Fees -$149
CASH FLOW
$119

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.

$260,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$13,813

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
  • $0.7

    LIST RENT PER SQFT
  • $1,707

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5453$1,6504$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 14290 Weeping Cherry Drive Fishers, IN 3
    • 3 beds 3 baths ∙ 2,354 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,354 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 10046 Weeping Cherry Drive Fishers, IN 1
    • 4 beds 3 baths ∙ 2,097 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,097 Sqft ∙ Built 2000
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.73
    •  
  • 10038 Orange Blossom Trail Fishers, IN 2
    • 3 beds 3 baths ∙ 2,340 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,340 Sqft ∙ Built 1999
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.66
    •  
  • 13482 Sweet Briar Parkway Fishers, IN 4
    • 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2002
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.73
    •  
  • 14386 Forsythia Lane Fishers, IN 5
    • 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2000
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
PROPERTY LISTING DETAILS
Lisa F. Phillips
1.317.219.9277
Keller Williams Indpls Metro N
BESbswy