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2032 Glenridge Drive Indianapolis, IN 46218

4 Beds 1 Baths 1,820 sqft Built 1949

$110,000

List Price

$930

$837 - $1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $60.44
  • 3 Days on Market
  • MLS # : 21769677
  • Updated Date : 03/05/2021 at 17:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,820 sqft
  • Baths : 1 full
Listing Agent

Ferris Property Group

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Otterbein

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170kPrice in $51k177k

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

Neighborhood: Otterbein

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2550600650700750800850900950100010501100115012001250Rent in $5461268

* 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
Arlington Middle School Middle Unknown NA
Arlington Middle School Middle Unknown NA

Arlington Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Arlington Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$99,000$121,000$110,000

PURCHASE PRICE

$837$1,023$930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $930
EXPENSES Loan Payment -$382
Property Tax -$214
Property Insurance -$62
Property Management Fees -$84
CASH FLOW
$188

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.

$110,000

PROJECTED PRICE

$930

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.3%
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$50k$100k$150k$200k$250k$300k$350k

PROJECTED ANNUAL CASH FLOW

11530$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k$7.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$34,900

INVESTMENT

$34,900

Down Payment
$27,500
Rehab Estimate
$5,750
Closing Costs
$1,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$382

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $27,500
Loan Amount $82,500
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$16,873

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $930

    LIST RENT
  • $0.51

    LIST RENT PER SQFT
  • $1,015

    COMP ESTIMATED VALUE
  • $0.56

    COMP AVG. RENT PER SQFT
Comps Range
$825
1$8252$8503$9304$1,0505$1,235
$1,235
RENT COMPS ANALYSIS
  • 2032 Glenridge Drive Indianapolis, IN 3
    • 4 beds 1 baths ∙ 1,820 Sqft ∙ Built 1949 4 beds 1 baths ∙ 1,820 Sqft ∙ Built 1949
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $930
    • $0.51
    •  
  • 1525 North Ewing Street Indianapolis, IN 1
    • 5 beds 2 baths ∙ 1,587 Sqft ∙ Built 1930 5 beds 2 baths ∙ 1,587 Sqft ∙ Built 1930
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $825
    • $0.52
    •  
  • 1226 North Emerson Avenue Indianapolis, IN 2
    • 3 beds 1 baths ∙ 1,737 Sqft ∙ Built 1936 3 beds 1 baths ∙ 1,737 Sqft ∙ Built 1936
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.49
    •  
  • 5337 East 21st Street Indianapolis, IN 4
    • 3 beds 1 baths ∙ 1,623 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,623 Sqft ∙ Built 1953
    property image
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.65
    •  
  • 1513 North Hawthorne Lane Indianapolis, IN 5
    • 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 1955 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 1955
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,235
    • $0.57
    •  
PROPERTY LISTING DETAILS
Gabriela Pitts
1.317.439.3971
Ferris Property Group
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21769677
Last Updated: 03/05/2021
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