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15298 Royal Grove Drive Noblesville, IN 46060

3 Beds 2 Baths 1,403 sqft Built 2012

$200,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $142.55
  • 3 Days on Market
  • MLS # : 21749463
  • Updated Date : 11/06/2020 at 09:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,403 sqft
  • Baths : 2 full
Listing Agent

Re/max Ability Plus

Listing Agent's Description

Check out this amazing 3 Bedroom, 2 Bath Ranch home on corner lot in popular community! Here are some of the highlights and features in this home: Open floor plan; Kitchen & Dining are open to the Great Room; Kitchen includes stainless appliances, tile back-splash, pantry & coffee colored cabinets; Split master bedroom layout w/ nice sized secondary bedrooms; Large master suite w/ walk-in closet & recently remodeled bath w/ walk-in tile shower; Nice laundry room w/ washer and dryer included; Evening shade back patio, perfect for outdoor entertaining, relaxing or BBQ time; Nice landscaping (I mean, who doesn't love a Willow tree). HSE Schools, tons of nearby shopping, restaurants and I-69; See it today!

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: Deer Path of Noblesville

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k252k

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

Neighborhood: Deer Path of Noblesville

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10401588

* 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
Fall Creek Intermediate School Primary Regular 1,219 56 7
Fall Creek Intermediate School Middle Regular 1,219 56 7
Hamilton Southeastern High School High Regular 3,017 135 9

Fall Creek Intermediate School

  • Education Level: Primary
  • # of students: 1,219
  • # of teachers: 56
7
GreatSchools Rating

Fall Creek Intermediate School

  • Education Level: Middle
  • # of students: 1,219
  • # of teachers: 56
7
GreatSchools Rating

Hamilton Southeastern High School

  • Education Level: High
  • # of students: 3,017
  • # of teachers: 135
9
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$738
Property Tax -$308
Property Insurance -$54
HOA -$25
Property Management Fees -$116
CASH FLOW
$48

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.

$200,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.1%
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

PROJECTED ANNUAL CASH FLOW

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

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$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$8,707

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,287

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,2904$1,3525$1,365
$1,365
RENT COMPS ANALYSIS
  • 15298 Royal Grove Drive Noblesville, IN 3
    • 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.92
    •  
  • 15472 Sandlands Circle Noblesville, IN 1
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 2007
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.98
    •  
  • 11913 Pronghorn Circle Noblesville, IN 2
    • 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1999
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 12691 Buck Run Drive Noblesville, IN 4
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2008
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,352
    • $0.88
    •  
  • 15254 Fawn Meadow Drive Noblesville, IN 5
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2001
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,365
    • $0.87
    •  
PROPERTY LISTING DETAILS
Herbert Rice
Re/max Ability Plus
BESbswy