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169 North Brewer Street Greenwood, IN 46142

3 Beds 2 Baths 1,069 sqft Built 1965

$135,250

List Price

$1,030

$927 - $1.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $126.52
  • 4 Days on Market
  • MLS # : 21752913
  • Updated Date : 11/20/2020 at 14:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,069 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Indpls Metro N

Listing Agent's Description

Charming ranch located in the heart of Greenwood! Just a few blocks South or West puts you right in the middle of the Main Street revitalization. 3 BDRM/1Full Bath and a half bath offers spacious living room w/ original hardwood floors. Updated kitchen with oversized eat-in area. Nice size bedroom w/ all original hardwood floors. Large fully fenced backyard just awaiting your finishing touches and a 1 car attached garage. Nicely appointed for the price point. These kind of homes do not come up often. Short walking distance of the trendy dining spots/shops that Old Town/Downtown Greenwood has to offer. Less than 10 min from Greenwood Mall and Interstate access. Schedule your showing today!

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: Greenwood

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200kPrice in $119k207k

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

Neighborhood: Greenwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2105011001150120012501300135014001450150015501600Rent in $10401604

* 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
Greenwood Northeast Elementary School Primary Regular 309 25 5
Greenwood Middle School Middle Regular 908 46 7
Greenwood Community High School High Regular 1,172 57 6

Greenwood Northeast Elementary School

  • Education Level: Primary
  • # of students: 309
  • # of teachers: 25
5
GreatSchools Rating

Greenwood Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 46
7
GreatSchools Rating

Greenwood Community High School

  • Education Level: High
  • # of students: 1,172
  • # of teachers: 57
6
GreatSchools Rating
 

$121,725$148,775$135,250

PURCHASE PRICE

$927$1,133$1,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,030
EXPENSES Loan Payment -$499
Property Tax -$170
Property Insurance -$48
Property Management Fees -$93
CASH FLOW
$220

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.

$135,250

PROJECTED PRICE

$1,030

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$41,591

INVESTMENT

$41,591

Down Payment
$33,813
Rehab Estimate
$5,750
Closing Costs
$2,029

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$499

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $33,813
Loan Amount $101,438
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$27,477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,030

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $898

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$875
1$8752$1,0303$1,045
$1,045
RENT COMPS ANALYSIS
  • 169 North Brewer Street Greenwood, IN 2
    • 3 beds 2 baths ∙ 1,069 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,069 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,030
    • $0.96
    •  
  • 809 Riverside Drive Greenwood, IN 1
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1967
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.88
    •  
  • 38 Crestview Drive Greenwood, IN 3
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1965
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,045
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jason Hess
Keller Williams Indpls Metro N
BESbswy