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15510 Wandering Way Noblesville, IN 46060

3 Beds 3 Baths 2,128 sqft Built 2002

$230,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $108.08
  • 3 Days on Market
  • MLS # : 21773649
  • Updated Date : 03/27/2021 at 10:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,128 sqft
  • Baths : 2 full , 1 half
Listing Agent

F.c. Tucker Company

Listing Agent's Description

Great location near Hamilton Town Center, I-69, golf course and popular music venue. Premium lot on cul-de-sac backing to common area and neighboring open field. Roof is 2 yrs old, updated baths & kitchen w/stainless appliances including smooth top range, built-in microwave, dishwasher, refrigerator, utility closet/pantry that connects to breakfast bar and dining nook. 3 bdms with loft that overlooks Great Room with vaulted ceiling and loads of natural light. Washer/Dryer are negotiable. Open Loft could be home office/den or playroom. Owners suite w/private bath & walk-in closet w/custom built-ins. Bedrooms 2 & 3 w/nice walk-in closets. Deck & 2car garage with storage.Exclude the mirror in downstairs bath. It will be replaced before closing

SEE MORE

  • 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)
  • 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)

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
Harrison Parkway Elementary School Primary Regular 575 30 7
Fishers Junior High School Middle Regular 1,072 56 8
Hamilton Southeastern High School High Regular 3,017 135 9

Harrison Parkway Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 30
7
GreatSchools Rating

Fishers Junior High School

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

Hamilton Southeastern High School

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

$207,000$253,000$230,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$799
Property Tax -$351
Property Insurance -$68
HOA -$25
Property Management Fees -$146
CASH FLOW
$232

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.

$230,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.70%

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$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$22,980

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,766

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6203$1,6504$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 15510 Wandering Way Noblesville, IN 2
    • 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.76
    •  
  • 15385 Dry Creek Road Noblesville, IN 1
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2006
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 15158 Proud Truth Drive Noblesville, IN 3
    • 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2009
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 15302 Fawn Meadow Drive Noblesville, IN 4
    • 3 beds 3 baths ∙ 1,984 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,984 Sqft ∙ Built 2001
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 15569 Sandlands Circle Noblesville, IN 5
    • 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2008
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
PROPERTY LISTING DETAILS
Shelly Paddack
F.c. Tucker Company
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21773649
Last Updated: 03/27/2021
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