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PROPERTY INFO
FACTS
- Single Family
- Built In 1954
- Price/Sqft : $148.57
- 3 Days on Market
- MLS # : 21765871
- Updated Date : 02/12/2021 at 21:02
CONSTRUCTION
- Beds : 3
- Floor Size : 875 sqft
- Baths : 1 full
Listing Agent
United Real Estate Indpls
Listing Agent's Description
Cute 3 bedroom bungalow. Living room open concept to kitchen. Enjoy lots of natural light from large living room window. Bedroom 3 is being used as an office. Beautiful large, landscaped back yard to hang out and entertain with a paver patio and fire pit. Cozy, enclosed patio. Oversized detached garage. 95% efficient furnace and A/C installed in 2013, gas water heater installed 2020. Roof will be replaced when weather permits. Neighborhood park across the street with splash park and basketball court.
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: Ravenswood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ravenswood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,060 |
| EXPENSES | Loan Payment | -$452 |
| Property Tax | -$232 | |
| Property Insurance | -$44 | |
| Property Management Fees | -$95 | |
|
CASH FLOW
$237
|
||
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.
$130,000
PROJECTED PRICE
$1,060
PROJECTED RENT
0.82%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$40,200
LOAN DETAILS
$452
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $32,500 |
| Loan Amount | $97,500 |
11.58
YEARS SAVED
$23,590
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,060
LIST RENT -
$1.21
LIST RENT PER SQFT
-
$1,186
COMP ESTIMATED VALUE -
$1.36
COMP AVG. RENT PER SQFT
Comps Range
-
1902 Haynes Avenue Indianapolis, IN 1
- 3 beds 1 baths ∙ 875 Sqft ∙ Built 1954 3 beds 1 baths ∙ 875 Sqft ∙ Built 1954
- Rent
- Rent Per SQFT
- $1,060
- $1.21
-
6103 Winthrop Avenue Indianapolis, IN 2
- 4 beds 2 baths ∙ 1,206 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,206 Sqft ∙ Built 1950
LEASED 05/20/20- Rent
- Rent Per SQFT
- $1,450
- $1.20
-
6240 North Norwaldo Avenue Indianapolis, IN 3
- 3 beds 1 baths ∙ 960 Sqft ∙ Built 1968 3 beds 1 baths ∙ 960 Sqft ∙ Built 1968
LEASED 04/07/20- Rent
- Rent Per SQFT
- $1,450
- $1.51
PROPERTY LISTING DETAILS
United Real Estate Indpls
