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1746 Brassica Way Indianapolis, IN 46217

4 Beds 3 Baths 2,596 sqft Built 2001

$177,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $68.18
  • 4 Days on Market
  • MLS # : 21758651
  • Updated Date : 12/31/2020 at 09:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,596 sqft
  • Baths : 2 full , 1 half
Listing Agent

F.c. Tucker Company

Listing Agent's Description

Spacious 4 bedroom and 2 1/2 bath fixer upper! This solid well built home has great space and a new roof, it just needs a little "TLC"! Home has an open concept with a beautiful wood burning fireplace in the family room. Large kitchen has plenty of space for an island or a large dining room table, the perfect area for entertaining family and friends. Sliding glass doors in the kitchen lead to the backyard which has a large deck and a quaint pergola! Master bedroom is large with a huge w/in closet and nice sized master bath area. Upstairs includes a loft area which is perfect for the extra space needed for your family. Home is located in nice neighborhood and just minutes away from Indy!!

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southdale

NeighborhoodNIR Market*CityMarket2010Year20002019105k110k115k120k125k130k135k140k145k150k155k160k165kPrice in $104k168k

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

Neighborhood: Southdale

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7441270

* 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
Abraham Lincoln Elementary School Primary Regular 858 41 4
Perry Meridian 6th Grade Academy Middle Regular 569 36 6
Perry Meridian High School High Regular 2,256 110 6

Abraham Lincoln Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 41
4
GreatSchools Rating

Perry Meridian 6th Grade Academy

  • Education Level: Middle
  • # of students: 569
  • # of teachers: 36
6
GreatSchools Rating

Perry Meridian High School

  • Education Level: High
  • # of students: 2,256
  • # of teachers: 110
6
GreatSchools Rating
 

$159,300$194,700$177,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$653
Property Tax -$403
Property Insurance -$77
HOA -$21
Property Management Fees -$144
CASH FLOW
$302

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.

$177,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.90%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 4.6%
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$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,655

INVESTMENT

$52,655

Down Payment
$44,250
Rehab Estimate
$5,750
Closing Costs
$2,655

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$653

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,250
Loan Amount $132,750
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$32,402

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,648

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,445
1$1,4452$1,5753$1,6004$1,6855$1,745
$1,745
RENT COMPS ANALYSIS
  • 1746 Brassica Way Indianapolis, IN 3
    • 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.62
    •  
  • 6237 Monteo Drive Indianapolis, IN 1
    • 3 beds 3 baths ∙ 2,434 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,434 Sqft ∙ Built 2003
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.59
    •  
  • 6307 Monteo Lane Indianapolis, IN 2
    • 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 2004
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.66
    •  
  • 6852 Governors Point Boulevard Indianapolis, IN 4
    • 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2002
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.64
    •  
  • 7725 Pennover Court Indianapolis, IN 5
    • 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 2003
    property image
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.65
    •  
PROPERTY LISTING DETAILS
Darla Spina
1.765.318.0022
F.c. Tucker Company
BESbswy