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163 North 8th Avenue Beech Grove, IN 46107

3 Beds 1 Baths 864 sqft Built 1955

$109,900

List Price

$850

$765 - $935

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $127.20
  • 3 Days on Market
  • MLS # : 21754427
  • Updated Date : 11/20/2020 at 12:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 864 sqft
  • Baths : 1 full
Listing Agent

Indys Choice Real Estate, Llc

Listing Agent's Description

Small town living- yet just minutes from 465, downtown and Greenwood mall. 1 level comfort features 3 bedrooms and a large living room with tons of natural light. And all appliances are included! Back yard sports a firepit, shed and it's fenced in to corral the pets and kiddos. Beech Grove parks are nearby and you get Beech Grove schools! Check me out...

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

Neighborhood: Park Meadow

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160kPrice in $71k168k

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

Neighborhood: Park Meadow

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7181268

* 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
Central Elementary School Primary Regular 468 27 4
Beech Grove Middle School Middle Regular 481 24 4
Beech Grove Sr High School High Regular 890 53 6

Central Elementary School

  • Education Level: Primary
  • # of students: 468
  • # of teachers: 27
4
GreatSchools Rating

Beech Grove Middle School

  • Education Level: Middle
  • # of students: 481
  • # of teachers: 24
4
GreatSchools Rating

Beech Grove Sr High School

  • Education Level: High
  • # of students: 890
  • # of teachers: 53
6
GreatSchools Rating
 

$98,910$120,890$109,900

PURCHASE PRICE

$765$935$850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $850
EXPENSES Loan Payment -$405
Property Tax -$202
Property Insurance -$44
Property Management Fees -$77
CASH FLOW
$123

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.

$109,900

PROJECTED PRICE

$850

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.4%
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

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$34,874

INVESTMENT

$34,874

Down Payment
$27,475
Rehab Estimate
$5,750
Closing Costs
$1,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$405

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $27,475
Loan Amount $82,425
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$12,321

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $850

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $795

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$795
1$7952$8503$1,0254$1,0455$1,095
$1,095
RENT COMPS ANALYSIS
  • 163 North 8th Avenue Beech Grove, IN 2
    • 3 beds 1 baths ∙ 864 Sqft ∙ Built 1955 3 beds 1 baths ∙ 864 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.98
    •  
  • 4334 East Naomi Street Indianapolis, IN 1
    • 3 beds 1 baths ∙ 840 Sqft ∙ Built 1948 3 beds 1 baths ∙ 840 Sqft ∙ Built 1948
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $795
    • $0.95
    •  
  • 417 North 21st Beech Grove, IN 3
    • 3 beds 1 baths ∙ 1,164 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,164 Sqft ∙ Built 1952
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.88
    •  
  • 2524 East Kelly Street Indianapolis, IN 4
    • 3 beds 1 baths ∙ 1,172 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,172 Sqft ∙ Built 1971
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,045
    • $0.89
    •  
  • 102 South 7th Avenue Beech Grove, IN 5
    • 4 beds 3 baths ∙ 1,136 Sqft ∙ Built 1943 4 beds 3 baths ∙ 1,136 Sqft ∙ Built 1943
    property image
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.96
    •  
PROPERTY LISTING DETAILS
Robert A. Morris
Indys Choice Real Estate, Llc
BESbswy