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1731 South Vickie Drive Indianapolis, IN 46239

3 Beds 2 Baths 1,325 sqft Built 1960

$140,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $105.66
  • 2 Days on Market
  • MLS # : 21750186
  • Updated Date : 11/02/2020 at 14:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,325 sqft
  • Baths : 1 full , 1 half
Listing Agent

Front Porch Real Estate

Listing Agent's Description

Inviting well maintained all brick ranch in nice neighborhood with great cul-de-sac location, convenient to everything. 3 bedroom plus den, (currently being used as master) 1 1/2 bath, open floor plan. 1 1/2 car finished garage. Complete with a large sun room for fun, relaxation and view of huge rear yard. Roof is 4 years old and furnace is 2018. Newer water softener, gutters, kitchen and bath tile floors.

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: Southeast Warren

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190kPrice in $104k193k

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

Neighborhood: Southeast Warren

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q295010001050110011501200125013001350Rent in $9211358

* 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
Grassy Creek Elementary School Primary Regular 420 22 6
Creston Intermediate Academy Middle Regular 593 26 2
Warren Central High School High Regular 3,602 147 2

Grassy Creek Elementary School

  • Education Level: Primary
  • # of students: 420
  • # of teachers: 22
6
GreatSchools Rating

Creston Intermediate Academy

  • Education Level: Middle
  • # of students: 593
  • # of teachers: 26
2
GreatSchools Rating

Warren Central High School

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

$126,000$154,000$140,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$517
Property Tax -$245
Property Insurance -$53
Property Management Fees -$106
CASH FLOW
$260

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.

$140,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 1.5%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$42,850

INVESTMENT

$42,850

Down Payment
$35,000
Rehab Estimate
$5,750
Closing Costs
$2,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$517

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $35,000
Loan Amount $105,000
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$30,151

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,179

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,180
$1,180
RENT COMPS ANALYSIS
  • 1731 South Vickie Drive Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.89
    •  
  • 55 South Brentwood Avenue Indianapolis, IN 1
    • 3 beds 1 baths ∙ 1,062 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,062 Sqft ∙ Built 1962
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.89
    •  
PROPERTY LISTING DETAILS
Mary Hoover
Front Porch Real Estate
BESbswy