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16210 Sundew Drive Noblesville, IN 46062

4 Beds 3 Baths 2,458 sqft Built 2015

$310,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $126.12
  • 3 Days on Market
  • MLS # : 21764335
  • Updated Date : 02/05/2021 at 10:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,458 sqft
  • Baths : 2 full , 1 half
Listing Agent

Monteith-legault Real Estate C

Listing Agent's Description

Feel at home from the moment you enter this bright and beautifully maintained home with fresh, cool colors & modern touches throughout! Open main level floor plan w/great room leading into the eat-in kitchen perfect for entertaining. Lots of natural light, family planning center plus built-in storage lockers for family organization. Upstairs loft area, 4 bedrooms, walk in closets, upper-level laundry & much more! Fenced backyard in family-friendly community. Great location convenient to shopping, restaurants and walking trails.

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 46062

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $119k268k

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

Zip Code: 46062

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550160016501700Rent in $10401708

* 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
Noble Crossing Elementary School Primary Regular 667 30 8
Noblesville West Middle School Middle Regular 1,332 63 8
Noblesville High School High Regular 2,685 137 8

Noble Crossing Elementary School

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 30
8
GreatSchools Rating

Noblesville West Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 63
8
GreatSchools Rating

Noblesville High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 137
8
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,077
Property Tax -$496
Property Insurance -$75
HOA -$40
Property Management Fees -$205
CASH FLOW
$388

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.

$310,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$39,701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,868

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,585
1$1,5852$1,7953$2,280
$2,280
RENT COMPS ANALYSIS
  • 16210 Sundew Drive Noblesville, IN 3
    • 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.93
    •  
  • 14928 Drayton Drive Noblesville, IN 1
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 1999
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.73
    •  
  • 5368 Bruce Boulevard Noblesville, IN 2
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2003
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
PROPERTY LISTING DETAILS
Marji Legault
1.317.442.1215
Monteith-legault Real Estate C
BESbswy