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1950 Hartford Avenue Indianapolis, IN 46231

3 Beds 1 Baths 1,404 sqft Built 1959

$170,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $121.08
  • 3 Days on Market
  • MLS # : 21763018
  • Updated Date : 02/12/2021 at 08:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,404 sqft
  • Baths : 1 full
Listing Agent

Front Porch Real Estate, Llc

Listing Agent's Description

Check out this beautiful ranch style home just before the heart of Plainfield. It comes with three spacious bedrooms, a living room, kitchen, bathroom, and a beautiful family room with a wood-burning fireplace. This home also has a nice detached, 2-car garage. The backyard and deck are great for hosting friends and family and enjoying the beautiful weather outside. The home is equipped with a new furnace, A/C, water heater, and flooring throughout the house. This home is a MUST SEE!

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: Chapel Hill - Ben Davis

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $87k168k

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

Neighborhood: Chapel Hill - Ben Davis

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2800850900950100010501100115012001250Rent in $7941268

* 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
Lynhurst 7th And 8th Grade Center Middle Regular 1,241 82 5
Ben Davis University High School High Regular 358 18 4
Ben Davis Ninth Grade Center High Regular 1,154 82 NA

Lynhurst 7th And 8th Grade Center

  • Education Level: Middle
  • # of students: 1,241
  • # of teachers: 82
5
GreatSchools Rating

Ben Davis University High School

  • Education Level: High
  • # of students: 358
  • # of teachers: 18
4
GreatSchools Rating

Ben Davis Ninth Grade Center

  • Education Level: High
  • # of students: 1,154
  • # of teachers: 82
NA
GreatSchools Rating
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$590
Property Tax -$316
Property Insurance -$54
Property Management Fees -$112
CASH FLOW
$167

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.

$170,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.45%
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

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$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$14,877

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,299

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,145
1$1,1452$1,2403$1,325
$1,325
RENT COMPS ANALYSIS
  • 1950 Hartford Avenue Indianapolis, IN 2
    • 3 beds 1 baths ∙ 1,404 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,404 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.88
    •  
  • 2456 Medallion Court Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1960
    property image
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.79
    •  
  • 718 Spring Valley Court Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1977
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.06
    •  
PROPERTY LISTING DETAILS
Ryan Harrison Jr.
Front Porch Real Estate, Llc
BESbswy