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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $86.36
- 5 Days on Market
- MLS # : 21763322
- Updated Date : 01/27/2021 at 10:51
CONSTRUCTION
- Beds : 3
- Floor Size : 2,200 sqft
- Baths : 1 full
Listing Agent
Redfin Corporation
Listing Agent's Description
Book your showing now to see this updated home nestled in a quiet neighborhood on an impasse street! Complete with oversized bedrooms not common for this era of home, a custom bathroom, spacious kitchen with a breakfast bar, and a dining room. Outdoor space is abundant with a large yard, a front porch perfect for your morning coffee or nightcap, and the backyard has a new privacy fence featuring 3/4" pressure-treated pine. The 2 car detached garage has had electricity wired to it, and both garage doors and garage door openers were replaced in 2018 and are Wi-Fi enabled. Other recent updates include A/C, roof replacement, water heater & Pella windows. Prime location close to Broad Ripple, Fashion Mall, and Downtown Indy!
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: Glendale
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Glendale
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,450 |
| EXPENSES | Loan Payment | -$660 |
| Property Tax | -$339 | |
| Property Insurance | -$70 | |
| Property Management Fees | -$131 | |
|
CASH FLOW
$251
|
||
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.
$190,000
PROJECTED PRICE
$1,450
PROJECTED RENT
0.76%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.92% |
| Appreciation Year (1-5) | 3.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.73% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$56,100
LOAN DETAILS
$660
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $47,500 |
| Loan Amount | $142,500 |
9.33
YEARS SAVED
$25,264
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,450
LIST RENT -
$0.66
LIST RENT PER SQFT
-
$1,613
COMP ESTIMATED VALUE -
$0.73
COMP AVG. RENT PER SQFT
Comps Range
-
2426 East 68th Street Indianapolis, IN 1
- 3 beds 1 baths ∙ 2,200 Sqft ∙ Built 1953 3 beds 1 baths ∙ 2,200 Sqft ∙ Built 1953
- Rent
- Rent Per SQFT
- $1,450
- $0.66
-
5845 Brouse Avenue Indianapolis, IN 2
- 3 beds 2 baths ∙ 2,502 Sqft ∙ Built 1948 3 beds 2 baths ∙ 2,502 Sqft ∙ Built 1948
LEASED 04/10/20- Rent
- Rent Per SQFT
- $1,700
- $0.68
-
2614 East 57th Street Indianapolis, IN 3
- 3 beds 2 baths ∙ 2,454 Sqft ∙ Built 1952 3 beds 2 baths ∙ 2,454 Sqft ∙ Built 1952
LEASED 09/17/20- Rent
- Rent Per SQFT
- $1,725
- $0.70
-
1654 Broad Ripple Avenue Indianapolis, IN 4
- 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1950 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1950
LEASED 10/07/20- Rent
- Rent Per SQFT
- $1,800
- $0.82
PROPERTY LISTING DETAILS
1.317.682.8230
Redfin Corporation
