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2013 East 65th Street Indianapolis, IN 46220

3 Beds 2 Baths 1,771 sqft Built 1949

$239,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $135.46
  • 3 Days on Market
  • MLS # : 21755705
  • Updated Date : 12/04/2020 at 11:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,771 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Indy Metro Ne

Listing Agent's Description

WOW! WELCOME TO THIS UPDATED BROAD RIPPLE STUNNER WITH FABULOUS BACKYARD AND WALKABILITY! KITCHEN/BATH REMODELED 2018, ELECTRICAL UPDATED 2018 (200 AMP), NEW SUMP 2017 AND UPDATED WINDOWS! UPSTAIRS HAS 3RD BED PLUS AMAZING FLEX SPACE - ROOM FOR HOME OFFICE WITH HALF BATH AND CLOSETS GALORE. ORIGINAL HARDWOODS THROUGHOUT. KITCHEN BOASTS FULL UPDATE INCLUDING SS APPLIANCES AND LARGE EAT IN AREA. BASEMENT OFFERS TONS OF FLEX SPACE FOR ADDITIONAL HOME OFFICE, PLAYROOM, REC ROOM, ETC. THIS BACKYARD WILL WOW YOUR MOST DISCERNING BUYERS -SO MUCH ROOM AND BEAUTIFUL LANDSCAPING IN SUMMER. GARAGE IS ATTACHED AND THERE'S A STORAGE SHED IN BACKYARD. DON'T MISS THIS RARE GEM!

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Broad Ripple Village

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $104k225k

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

Neighborhood: Broad Ripple Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250130013501400145015001550Rent in $9211551

* 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
Allisonville Elementary School Primary Regular 772 33 6
Eastwood Middle School Middle Regular 835 47 4
North Central High School High Regular 3,518 182 7

Allisonville Elementary School

  • Education Level: Primary
  • # of students: 772
  • # of teachers: 33
6
GreatSchools Rating

Eastwood Middle School

  • Education Level: Middle
  • # of students: 835
  • # of teachers: 47
4
GreatSchools Rating

North Central High School

  • Education Level: High
  • # of students: 3,518
  • # of teachers: 182
7
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$885
Property Tax -$428
Property Insurance -$61
Property Management Fees -$144
CASH FLOW
$82

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.

$239,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.2%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,691

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,650
$1,650
RENT COMPS ANALYSIS
  • 2013 East 65th Street Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1949
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 5931 Primrose Avenue Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1932 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1932
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 6035 Ralston Avenue Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1941
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
PROPERTY LISTING DETAILS
Kristie M. Smith
1.317.815.4450
Keller Williams Indy Metro Ne
BESbswy