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1628 North Coolidge Avenue Indianapolis, IN 46219

3 Beds 1 Baths 972 sqft Built 1954

$120,000

List Price

$900

$810 - $990

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $123.46
  • 2 Days on Market
  • MLS # : 21756409
  • Updated Date : 12/12/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 972 sqft
  • Baths : 1 full
Listing Agent

F.c. Tucker Company

Listing Agent's Description

ADORABLE BRICK RANCH IN QUITE NEIGHBORHOOD 3 BEDROOM 1 BATH. HARDWOOD FLOORS. BEAUTIFULLY LANDSCAPED HOME WITH FIRE PIT.BACK YARD IS PARTIALLY FENCED, JUST NEEDS A GATE OVER DRIVEWAY, LARGE ENCLOSED PORCH. FRESHLY PAINTED INTERIOR. 2 1/2 CAR DETACHED GARAGE WITH OVERHEAD STORAGE SPACE. NEW WINDOWS 2020, SEWER PIPE FROM HOUSE TO STREET REPLACED IN 2019 EASY ACCESS TO INTERSTATE.

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: Sycamore Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160kPrice in $71k168k

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

Neighborhood: Sycamore Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2650700750800850900950100010501100115012001250Rent in $6341268

* 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
Pleasant Run Elementary School Primary Regular 535 27 3
Stonybrook Middle School Middle Regular 627 36 3
Warren Central High School High Regular 3,602 147 2

Pleasant Run Elementary School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 27
3
GreatSchools Rating

Stonybrook Middle School

  • Education Level: Middle
  • # of students: 627
  • # of teachers: 36
3
GreatSchools Rating

Warren Central High School

  • Education Level: High
  • # of students: 3,602
  • # of teachers: 147
2
GreatSchools Rating
 

$108,000$132,000$120,000

PURCHASE PRICE

$810$990$900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $900
EXPENSES Loan Payment -$443
Property Tax -$210
Property Insurance -$46
Property Management Fees -$81
CASH FLOW
$121

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.

$120,000

PROJECTED PRICE

$900

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 8.45%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

PROJECTED ANNUAL CASH FLOW

11530$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k$7.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$37,550

INVESTMENT

$37,550

Down Payment
$30,000
Rehab Estimate
$5,750
Closing Costs
$1,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$443

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $30,000
Loan Amount $90,000
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$12,436

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $900

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $809

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$625
1$6252$8253$9004$9005$1,000
$1,000
RENT COMPS ANALYSIS
  • 1628 North Coolidge Avenue Indianapolis, IN 4
    • 3 beds 1 baths ∙ 972 Sqft ∙ Built 1954 3 beds 1 baths ∙ 972 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.93
    •  
  • 2260 Barnor Drive Indianapolis, IN 1
    • 3 beds 1 baths ∙ 816 Sqft ∙ Built 1949 3 beds 1 baths ∙ 816 Sqft ∙ Built 1949
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $625
    • $0.77
    •  
  • 7821 Cullen Drive Indianapolis, IN 2
    • 4 beds 1 baths ∙ 957 Sqft ∙ Built 1959 4 beds 1 baths ∙ 957 Sqft ∙ Built 1959
    LEASED 07/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $825
    • $0.86
    •  
  • 7911 Souter Drive Indianapolis, IN 3
    • 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1959
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.79
    •  
  • 2295 North Irwin Street Indianapolis, IN 5
    • 3 beds 1 baths ∙ 1,104 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,104 Sqft ∙ Built 1950
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Vicki Allen
1.317.435.6489
F.c. Tucker Company
BESbswy