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18132 Nickel Plate Drive Westfield, IN 46074

3 Beds 3 Baths 2,404 sqft Built 2018

$305,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $126.87
  • 3 Days on Market
  • MLS # : 21760004
  • Updated Date : 01/15/2021 at 11:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,404 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Scheetz

Listing Agent's Description

Pristine Maintained home shows pride of ownership! Large entry brings you into the open concept 2-story great room with w/soaring ceiling, full wall of windows, open to the large gourmet kitchen, SS appliances & huge center island. Den/Office currently used as a playroom but can also be a 4th bedroom. Master suite w/additional windows on main lvl offers dual vanities, 2 closets-1 lg walk-in. Upstairs offers a split bedroom plan w/a large loft. Marble countertops in all baths, upgraded light fixtures in most of the home. This desirable home is on a premium water lot, perfect to enjoy evening sunsets. Full rear iron fence, enlarged patio, pergola, Playset stays. Why build-Blinds-Window Coverings-Sod all done for you in this 3 year new home.

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: 46074

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k314k

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

Zip Code: 46074

ZipNIR Market*CityMarket2010Year2000 Q32019 Q211001200130014001500160017001800190020002100Rent in $10402140

* 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
Monon Trail Elementary School Primary Regular 294 15 6
Westfield Middle School Middle Regular 1,042 48 7
Westfield High School High Regular 1,934 95 8

Monon Trail Elementary School

  • Education Level: Primary
  • # of students: 294
  • # of teachers: 15
6
GreatSchools Rating

Westfield Middle School

  • Education Level: Middle
  • # of students: 1,042
  • # of teachers: 48
7
GreatSchools Rating

Westfield High School

  • Education Level: High
  • # of students: 1,934
  • # of teachers: 95
8
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,059
Property Tax -$466
Property Insurance -$73
HOA -$32
Property Management Fees -$186
CASH FLOW
$253

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.

$305,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.2%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$26,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,104

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,935
1$1,9352$1,9953$1,9954$2,0705$2,195
$2,195
RENT COMPS ANALYSIS
  • 18132 Nickel Plate Drive Westfield, IN 4
    • 3 beds 3 baths ∙ 2,404 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,404 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.86
    •  
  • 844 Adena Lane Westfield, IN 1
    • 3 beds 3 baths ∙ 2,229 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,229 Sqft ∙ Built 2018
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,935
    • $0.87
    •  
  • 885 Ogala Drive Westfield, IN 2
    • 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2015
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 18187 Nickel Plate Drive Westfield, IN 3
    • 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2017
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
  • 856 Adena Lane Westfield, IN 5
    • 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2017
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.93
    •  
PROPERTY LISTING DETAILS
Loretta Broeking
1.317.814.5254
Century 21 Scheetz
BESbswy