Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1781 Blue Grass Parkway Greenwood, IN 46143

3 Beds 3 Baths 1,494 sqft Built 2004

$187,500

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $125.50
  • 3 Days on Market
  • MLS # : 21764959
  • Updated Date : 02/06/2021 at 20:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,494 sqft
  • Baths : 2 full , 1 half
Listing Agent

Diamond Realty, Inc

Listing Agent's Description

You will fall in love with this Beautiful 3 beds, 2.5 bath in the Sweetgrass Greenwood Community. Master bedroom carpet has been replaced in summer. Main living area and loft have the beautiful laminate hardwood floor. You will love the lot due to no neighbor on the Right and back of the house.

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*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k222k

* 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
Grassy Creek Elementary School Primary Regular NA
Clark Pleasant Middle School Middle Regular 988 46 8
Whiteland Community High School High Regular 1,767 69 6

Grassy Creek Elementary School

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

Clark Pleasant Middle School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 46
8
GreatSchools Rating

Whiteland Community High School

  • Education Level: High
  • # of students: 1,767
  • # of teachers: 69
6
GreatSchools Rating
 

$168,750$206,250$187,500

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$651
Property Tax -$255
Property Insurance -$56
HOA -$14
Property Management Fees -$120
CASH FLOW
$233

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.

$187,500

PROJECTED PRICE

$1,330

PROJECTED RENT

0.71%

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$600k

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$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,438

INVESTMENT

$55,438

Down Payment
$46,875
Rehab Estimate
$5,750
Closing Costs
$2,813

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$651

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,875
Loan Amount $140,625
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$25,170

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,341

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3303$1,3504$1,4005$1,475
$1,475
RENT COMPS ANALYSIS
  • 1781 Blue Grass Parkway Greenwood, IN 2
    • 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.89
    •  
  • 733 Red Leaf Lane Greenwood, IN 1
    • 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 2004
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.80
    •  
  • 721 Red Leaf Lane Greenwood, IN 3
    • 4 beds 3 baths ∙ 1,494 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,494 Sqft ∙ Built 2004
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 1816 Feather Reed Lane Greenwood, IN 4
    • 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 2004
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 1762 Blue Grass Parkway Greenwood, IN 5
    • 3 beds 3 baths ∙ 1,554 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,554 Sqft ∙ Built 2004
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.95
    •  
PROPERTY LISTING DETAILS
Rajwinder Kaur
1.317.985.1333
Diamond Realty, Inc
BESbswy