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1731 Chatham Place Danville, IN 46122

4 Beds 3 Baths 1,847 sqft Built 2002

$235,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $127.23
  • 4 Days on Market
  • MLS # : 21765375
  • Updated Date : 02/12/2021 at 10:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,847 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Ability Plus

Listing Agent's Description

Move in ready 4 bedroom 2.5 bath home. Low maintenance flooring on main level that will never wear out! Enjoy the open kitchen overlooking family room with wood burning fireplace. Nice large lot that has a large concrete patio overlooking the pond. Extra storage is found in the mini barn. New carpet, master shower and shower door and new paint in 2021. Roof installed in 2016, HVAC in 2012, water heater in 2016 and new Pella windows and sliding glass patio door in 2018. Why build when you can buy?

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: 46122

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k221k

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

Zip Code: 46122

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10301551

* 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
South Elementary School Primary Regular 356 18 7
Danville Community High School High Regular 805 44 7
North Elementary School Primary Regular 564 33 NA

South Elementary School

  • Education Level: Primary
  • # of students: 356
  • # of teachers: 18
7
GreatSchools Rating

Danville Community High School

  • Education Level: High
  • # of students: 805
  • # of teachers: 44
7
GreatSchools Rating

North Elementary School

  • Education Level: Primary
  • # of students: 564
  • # of teachers: 33
NA
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$816
Property Tax -$319
Property Insurance -$63
HOA -$23
Property Management Fees -$154
CASH FLOW
$335

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.

$235,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.5%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$35,610

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,124

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,710
1$1,7102$1,900
$1,900
RENT COMPS ANALYSIS
  • 1731 Chatham Place Danville, IN 1
    • 4 beds 3 baths ∙ 1,847 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,847 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.93
    •  
  • 856 Stephanie Court Danville, IN 2
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 2004
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.15
    •  
PROPERTY LISTING DETAILS
Heather R. Schaller
1.765.482.5150
Re/max Ability Plus
BESbswy