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14523 Sowers Drive Fishers, IN 46038

3 Beds 2 Baths 1,340 sqft Built 1960

$214,900

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $160.37
  • 4 Days on Market
  • MLS # : 21749607
  • Updated Date : 10/31/2020 at 13:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,340 sqft
  • Baths : 1 full , 1 half
Listing Agent

Harry R. Mclaughlin, Jr

Listing Agent's Description

3 Bedroom brick Ranch, hardwood floors in living, dining, and bedrooms. Kitchen with ceramic tile, stainless steel appliances about 2 years old. One and half baths, both updated! living features a woodburning fireplace with marble hearth. Nice 3 seasons glassed in porch. Patio for cookouts and summertime fun. Almost 1/3 acre lot. Bonus room with carpet makes a nice office, den, study, or playroom.

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: Willow Crest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $108k269k

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

Neighborhood: Willow Crest

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q21000110012001300140015001600170018001900Rent in $9021990

* 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
Riverside Intermediate School Primary Regular 984 53 8
Riverside Intermediate School Middle Regular 984 53 8
Fishers High School High Regular 2,964 134 9

Riverside Intermediate School

  • Education Level: Primary
  • # of students: 984
  • # of teachers: 53
8
GreatSchools Rating

Riverside Intermediate School

  • Education Level: Middle
  • # of students: 984
  • # of teachers: 53
8
GreatSchools Rating

Fishers High School

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

$193,410$236,390$214,900

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$793
Property Tax -$266
Property Insurance -$53
Property Management Fees -$115
CASH FLOW
$53

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.

$214,900

PROJECTED PRICE

$1,280

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.6%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$11,204

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,253

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,2803$1,375
$1,375
RENT COMPS ANALYSIS
  • 14523 Sowers Drive Fishers, IN 2
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.96
    •  
  • 15375 Cherry Tree Road Noblesville, IN 1
    • 4 beds 2 baths ∙ 1,377 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,377 Sqft ∙ Built 1968
    property image
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.93
    •  
  • 14521 Allisonville Road Fishers, IN 3
    • 3 beds 1 baths ∙ 1,464 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,464 Sqft ∙ Built 1965
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.94
    •  
PROPERTY LISTING DETAILS
Harry Mclaughlin Jr.
Harry R. Mclaughlin, Jr
BESbswy