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2193 Lake Run Court Greenwood, IN 46143

3 Beds 4 Baths 2,878 sqft Built 1986

INVESTimate

$289,900

List Price

$1,860

$1,674 - $2,046

Rent Est.

$303,670  ( +4.75%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $100.73
  • 6 Days on Market
  • MLS # : 21732803
  • Updated Date : 08/24/2020 at 16:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,878 sqft
  • Baths : 2 full , 2 half
Listing Agent

F.c. Tucker Company

Listing Agent's Description

Spacious 1 1/2 story in prime location in Hunters Pointe on a large treed lot on cul-de-sac. This home features LR & formal dining combo, family RM w/cozy frpl. Spacious kitchen w/large eating area, all kitchen appliances, plus pantry. All 3 bedrooms are on the main level. Master BR features pyramid ceiling, full bath, and walk-in closet. Upstairs features a 25x18 rec room for owners enjoyment along w/a full bath. The laundry room is out of the kitchen. A bonus room off kitchen can be a small office or craft area. Lots of storage w/walk-in attic and 3 car garage. Great location in a popular mature neighborhood.

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: 46143

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k222k

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

Zip Code: 46143

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10401572

* 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
Center Grove Elementary School Primary Regular 759 33 6
Center Grove Middle School Central Middle Regular 979 48 9
Center Grove High School High Regular 2,455 112 9

Center Grove Elementary School

  • Education Level: Primary
  • # of students: 759
  • # of teachers: 33
6
GreatSchools Rating

Center Grove Middle School Central

  • Education Level: Middle
  • # of students: 979
  • # of teachers: 48
9
GreatSchools Rating

Center Grove High School

  • Education Level: High
  • # of students: 2,455
  • # of teachers: 112
9
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,070
Property Tax -$327
Property Insurance -$83
HOA -$8
Property Management Fees -$167
CASH FLOW
$205

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.

$289,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.75%
Maintenance Year (1-5) 8.00%
Vacancy 8.07%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$28,485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,928

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7953$1,8504$1,8605$1,950
$1,950
RENT COMPS ANALYSIS
  • 2193 Lake Run Court Greenwood, 4
    • 3 beds 4 baths ∙ 2,878 Sqft ∙ Built 1986 3 beds 4 baths ∙ 2,878 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.65
    •  
  • 915 Yellowwood Drive Greenwood, 1
    • 4 beds 3 baths ∙ 2,840 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,840 Sqft ∙ Built 2001
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.61
    •  
  • 301 Wales Court Greenwood, 2
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1998
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.71
    •  
  • 1310 Lavender Lane Greenwood, 3
    • 4 beds 3 baths ∙ 2,890 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,890 Sqft ∙ Built 2006
    property image
    LEASED 04/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.64
    •  
  • 2243 Woodsway Drive Greenwood, 5
    • 3 beds 3 baths ∙ 2,708 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,708 Sqft ∙ Built 1988
    property image
    LEASED 06/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.72
    •  
PROPERTY LISTING DETAILS
Steve Burkhardt, Crs, Crb, Mgri
F.c. Tucker Company
BESbswy