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1502 Creekside Lane Greenwood, IN 46142

4 Beds 3 Baths 1,506 sqft Built 1991

$193,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $128.15
  • 4 Days on Market
  • MLS # : 21749953
  • Updated Date : 10/31/2020 at 17:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,506 sqft
  • Baths : 3 full
Listing Agent

Perez Realty Group Llc

Listing Agent's Description

Nice remodeled tri level home. The property is located in a family, friendly and quiet neighborhood. Excellent 4 bedroom sizes with walking closets. Huge kitchen with granite counter top., new deck, new floor and much more.

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: Greenwood

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200kPrice in $119k207k

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

Neighborhood: Greenwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2105011001150120012501300135014001450150015501600Rent in $10401604

* 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
North Grove Elementary School Primary Regular 612 30 5
Center Grove Middle School North Middle Regular 884 50 7
Center Grove High School High Regular 2,455 112 9

North Grove Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 30
5
GreatSchools Rating

Center Grove Middle School North

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 50
7
GreatSchools Rating

Center Grove High School

  • Education Level: High
  • # of students: 2,455
  • # of teachers: 112
9
GreatSchools Rating
 

$173,700$212,300$193,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$712
Property Tax -$247
Property Insurance -$56
Property Management Fees -$120
CASH FLOW
$195

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.

$193,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
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$10k$12k

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$56,895

INVESTMENT

$56,895

Down Payment
$48,250
Rehab Estimate
$5,750
Closing Costs
$2,895

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$712

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,250
Loan Amount $144,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$25,165

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,261

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2853$1,2954$1,3155$1,330
$1,330
RENT COMPS ANALYSIS
  • 1502 Creekside Lane Greenwood, IN 5
    • 4 beds 3 baths ∙ 1,506 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,506 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.88
    •  
  • 519 Hunting Creek Drive Greenwood, IN 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1991
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.82
    •  
  • 85 Westridge Boulevard Greenwood, IN 2
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1999
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,285
    • $0.84
    •  
  • 1273 West Stillwater Lane Greenwood, IN 3
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1979
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.82
    •  
  • 1288 West Stillwater Lane Greenwood, IN 4
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1979
    property image
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,315
    • $0.87
    •  
PROPERTY LISTING DETAILS
Fabricio Perez
Perez Realty Group Llc
BESbswy