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16 Presidential Way Brownsburg, IN 46112

4 Beds 3 Baths 2,529 sqft Built 1999

$280,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $110.72
  • 2 Days on Market
  • MLS # : 21750091
  • Updated Date : 11/02/2020 at 16:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,529 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pritchett Property Group Llc

Listing Agent's Description

Beautiful Move in ready brick wrapped 4 Bdrm , 2 1/2 Bath home in desirable Brownsburg. Walk in to the 2 story foyer w/ formal dining area & living rm. Open floor plan from kit to family rm w/ gas fireplace. This gorgeous home has a 2 garage w/ bump out. Fenced in backyard is great for entertaining, Koi pond, deck w/ pergola, mature trees, and mini barn. Large Master bdrm w/ en suite & large walk in closet. Nice loft area w/ closet, could be converted to a 5th bedroom. This 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

Zip Code: 46112

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k222k

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

Zip Code: 46112

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10401554

* 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
Cardinal Elementary School Primary Regular 621 36 9
Brownsburg West Middle School Middle Regular 914 55 9
Brownsburg High School High Regular 2,442 125 9

Cardinal Elementary School

  • Education Level: Primary
  • # of students: 621
  • # of teachers: 36
9
GreatSchools Rating

Brownsburg West Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 55
9
GreatSchools Rating

Brownsburg High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 125
9
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,033
Property Tax -$384
Property Insurance -$76
HOA -$21
Property Management Fees -$153
CASH FLOW
$33

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.

$280,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.9%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,933

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,675

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,7004$1,7955$1,845
$1,845
RENT COMPS ANALYSIS
  • 16 Presidential Way Brownsburg, IN 3
    • 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.67
    •  
  • 959 Hearthside Drive Brownsburg, IN 1
    • 4 beds 3 baths ∙ 2,561 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,561 Sqft ∙ Built 1996
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.62
    •  
  • 1328 Dogwood Court Brownsburg, IN 2
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1979
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.64
    •  
  • 673 Hanover Road Brownsburg, IN 4
    • 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2004
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
  • 615 Stonehenge Way Brownsburg, IN 5
    • 3 beds 3 baths ∙ 2,794 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,794 Sqft ∙ Built 2008
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.66
    •  
PROPERTY LISTING DETAILS
Joe Pritchett
Pritchett Property Group Llc
BESbswy