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1610 Eastfork Drive Brownsburg, IN 46112

4 Beds 3 Baths 2,834 sqft Built 2003

$249,955

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $88.20
  • 6 Days on Market
  • MLS # : 21749566
  • Updated Date : 10/29/2020 at 22:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,834 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Centerstone

Listing Agent's Description

Fantastic 4 Bedroom, 2 1/2 bath home in Brownsburg. Family friendly floorplan, huge rooms, tons of storage and a basement for all the hobbies you have started or wanted to start. Side load three garage, a mini barn and a privacy fenced backyard are just icing on the cake. Newer roof, water heater and deck. Lots of charm with the gleaming floors, hardwood staircase, and woodwork. Great neighborhood with sidewalks for the kids to ride their bikes on and a neighborhood pool and playground. More pictures coming soon..

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
Reagan Elementary School Primary Regular 616 33 10
Brownsburg High School High Regular 2,442 125 9

Reagan Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 33
10
GreatSchools Rating

Brownsburg High School

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

$224,960$274,951$249,955

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$922
Property Tax -$343
Property Insurance -$82
HOA -$25
Property Management Fees -$150
CASH FLOW
$148

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.

$249,955

PROJECTED PRICE

$1,670

PROJECTED RENT

0.67%

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-$2.0k$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,988

INVESTMENT

$71,988

Down Payment
$62,489
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,489
Loan Amount $187,466
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$19,355

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,814

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6703$1,6754$1,8255$1,845
$1,845
RENT COMPS ANALYSIS
  • 1610 Eastfork Drive Brownsburg, IN 2
    • 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.59
    •  
  • 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
    •  
  • 275 Lazy Hollow Drive Brownsburg, IN 3
    • 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2002
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.65
    •  
  • 657 Hanover Road Brownsburg, IN 4
    • 4 beds 3 baths ∙ 2,911 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,911 Sqft ∙ Built 2005
    LEASED 06/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.63
    •  
  • 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
Lydia Homeier
1.317.374.9352
Re/max Centerstone
BESbswy