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2032 Modesto Court Greenfield, IN 46140

3 Beds 3 Baths 2,018 sqft Built 2007

$210,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $104.06
  • 3 Days on Market
  • MLS # : 21760526
  • Updated Date : 01/29/2021 at 10:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,018 sqft
  • Baths : 2 full , 1 half
Listing Agent

F.c. Tucker Company

Listing Agent's Description

You have found YOUR NEW HOME in this 3 Bed 2.5 Bath Greenfield Home. The surrounding Massive Yard offers TONS of Play Space. The Main Floor’s Open Concept brings the Updated Kitchen, Great Rm, Dining and Sitting Rm together. The Kitchen is Filled with Stainless Steel Appliances. The MUDROOM just inside the 2 CAR GARAGE seconds as your LAUNDRY ROOM. The Generous MASTER is flooded with NATURAL LIGHT and amplified by it’s Spacious Bath. Centered in the upstairs is your NEW ROOMY LOFT. It is flanked by the second Full Bath and Two other Bedrooms. Fresh Paint Throughout.

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

Zip Code: 46140

ZipNIR Market*CityMarket2010Year20002019120k125k130k135k140k145k150k155k160k165k170k175k180kPrice in $119k180k

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

Zip Code: 46140

ZipNIR Market*CityMarket2010Year2000 Q32019 Q29501000105011001150120012501300Rent in $9251302

* 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
Weston Elementary School Primary Regular 336 19 8
Greenfield Central Junior High School Middle Regular 717 30 6
Greenfield-central High School High Regular 1,439 66 7

Weston Elementary School

  • Education Level: Primary
  • # of students: 336
  • # of teachers: 19
8
GreatSchools Rating

Greenfield Central Junior High School

  • Education Level: Middle
  • # of students: 717
  • # of teachers: 30
6
GreatSchools Rating

Greenfield-central High School

  • Education Level: High
  • # of students: 1,439
  • # of teachers: 66
7
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$729
Property Tax -$292
Property Insurance -$66
HOA -$42
Property Management Fees -$123
CASH FLOW
$118

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.

$210,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$13,051

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,386

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3503$1,3704$1,375
$1,375
RENT COMPS ANALYSIS
  • 2032 Modesto Court Greenfield, IN 3
    • 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.68
    •  
  • 147 Sawdust Trail Greenfield, IN 1
    • 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2007
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.72
    •  
  • 977 Dorothy Drive Greenfield, IN 2
    • 3 beds 3 baths ∙ 2,049 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,049 Sqft ∙ Built 2006
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.66
    •  
  • 1009 West Muskegon Drive Greenfield, IN 4
    • 4 beds 3 baths ∙ 2,023 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,023 Sqft ∙ Built 2011
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.68
    •  
PROPERTY LISTING DETAILS
Gavin Frost
F.c. Tucker Company
BESbswy