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201 Harmony Road Carmel, IN 46032

4 Beds 3 Baths 2,259 sqft Built 1970

$269,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $119.48
  • 7 Days on Market
  • MLS # : 21751350
  • Updated Date : 11/14/2020 at 09:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,259 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mccullough Real Estate

Listing Agent's Description

Carmel Home 4 bedrooms 3 baths family room dining living room circular floor plan somewhat open lots of hard surface floors A mature trees around the home give a tranquil setting huge garage for extra storage patio on the back of the home close to every thing shops stores hospital A great location

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: Village of Mt. Carmel

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k383k

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

Neighborhood: Village of Mt. Carmel

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q21200140016001800200022002400Rent in $10402565

* 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
Carmel Elementary School Primary Regular 515 26 8
Carmel Middle School Middle Regular 1,162 62 7
Carmel High School High Regular 4,830 251 10

Carmel Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 26
8
GreatSchools Rating

Carmel Middle School

  • Education Level: Middle
  • # of students: 1,162
  • # of teachers: 62
7
GreatSchools Rating

Carmel High School

  • Education Level: High
  • # of students: 4,830
  • # of teachers: 251
10
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$996
Property Tax -$367
Property Insurance -$71
Property Management Fees -$172
CASH FLOW
$304

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 19% of earned rent to cover both maintenance and periods of vacancy.

$269,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.91%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 11.18%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$31,448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,146

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,910
1$1,9102$1,9953$2,200
$2,200
RENT COMPS ANALYSIS
  • 201 Harmony Road Carmel, IN 1
    • 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.85
    •  
  • 699 Marana Drive Carmel, IN 2
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1986
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 66 Bennett Road Carmel, IN 3
    • 3 beds 2 baths ∙ 2,324 Sqft ∙ Built 1959 3 beds 2 baths ∙ 2,324 Sqft ∙ Built 1959
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
PROPERTY LISTING DETAILS
James F. Mccullough Ii
1.317.371.3171
Mccullough Real Estate
BESbswy