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2067 Kerns Court Carmel, IN 46280

3 Beds 3 Baths 1,737 sqft Built 1988

$305,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $175.59
  • 3 Days on Market
  • MLS # : 21765660
  • Updated Date : 02/12/2021 at 16:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,737 sqft
  • Baths : 2 full , 1 half
Listing Agent

Harvest Realty Group Llc

Listing Agent's Description

Beautiful two story home in very sought after Walden Pond neighborhood in Carmel Clay Schools. Walking distance to the MONON TRAIL! 3 BD/3BA home in move-in ready/excellent condition. Extra LARGE GARAGE fits your huge trucks and SUV's inside and protected. Vaulted ceilings makes the entry feel open and large, a great place to entertain. Attached 4 SEASONS PATIO is the perfect place to see nature and relax. FULLY FENCED yard with ample space for a playset, to use the garden or to simply entertain. Close to highways, downtown Carmel, Art District, Keystone Mall, Parks and so much more. This home is waiting for your viewing.

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: Walden Pond

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $104k255k

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

Neighborhood: Walden Pond

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q210001100120013001400150016001700Rent in $9211715

* 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
Forest Dale Elementary School Primary Regular 663 32 8
Clay Middle School Middle Regular 1,233 62 8
Carmel High School High Regular 4,830 251 10

Forest Dale Elementary School

  • Education Level: Primary
  • # of students: 663
  • # of teachers: 32
8
GreatSchools Rating

Clay Middle School

  • Education Level: Middle
  • # of students: 1,233
  • # of teachers: 62
8
GreatSchools Rating

Carmel High School

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

$274,500$335,500$305,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,059
Property Tax -$415
Property Insurance -$61
HOA -$78
Property Management Fees -$162
CASH FLOW
$25

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.

$305,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.8%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,415

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,902

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7753$1,800
$1,800
RENT COMPS ANALYSIS
  • 2067 Kerns Court Carmel, IN 3
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 10890 Santa Anita Court Carmel, IN 1
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1992
    property image
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.08
    •  
  • 2978 Weatherstone Drive Carmel, IN 2
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1994
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.11
    •  
PROPERTY LISTING DETAILS
Keri Arthurton
Harvest Realty Group Llc
BESbswy