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2450 Bridlewood Drive Franklin, IN 46131

3 Beds 2 Baths 1,618 sqft Built 2016

INVESTimate

$178,000

List Price

$1,280

$1,152 - $1,408

Rent Est.

$189,000  ( +6.18%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $110.01
  • 8 Days on Market
  • MLS # : 21732752
  • Updated Date : 08/21/2020 at 12:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,618 sqft
  • Baths : 2 full
Listing Agent

Carpenter, Realtors®

Listing Agent's Description

4-year-old Ranch. Good as new. This Ranch has a 3 bedroom, 2 full baths, updated eat-in kitchen, spacious family room, flex room that is used as an office. It also comes with a 2 car att gar. It is insulated and has sheetrock hung. It can easily be finished. The home also comes with a Pd water softener, reverse osmosis, so you can say goodbye to the water bottles. There are no neighbors behind you. This home also comes with a home warranty for your peace of mind.

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 46131

ZipNIR Market*CityMarket2010Year20002019105k110k115k120k125k130k135k140k145k150k155k160k165kPrice in $105k168k

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

Zip Code: 46131

ZipNIR Market*CityMarket2010Year2000 Q32019 Q2100010201040106010801100112011401160118012001220124012601280Rent in $9881283

* 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
Needham Elementary School Primary Regular 402 20 7
Custer Baker Intermediate School Middle Regular 768 37 6
Franklin Community High School High Regular 1,630 72 7

Needham Elementary School

  • Education Level: Primary
  • # of students: 402
  • # of teachers: 20
7
GreatSchools Rating

Custer Baker Intermediate School

  • Education Level: Middle
  • # of students: 768
  • # of teachers: 37
6
GreatSchools Rating

Franklin Community High School

  • Education Level: High
  • # of students: 1,630
  • # of teachers: 72
7
GreatSchools Rating
 

$160,200$195,800$178,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$657
Property Tax -$242
Property Insurance -$58
HOA -$29
Property Management Fees -$115
CASH FLOW
$179

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.

$178,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 6.18%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,920

INVESTMENT

$52,920

Down Payment
$44,500
Rehab Estimate
$5,750
Closing Costs
$2,670

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,500
Loan Amount $133,500
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$21,762

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,339

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1753$1,2504$1,2805$1,395
$1,395
RENT COMPS ANALYSIS
  • 2450 Bridlewood Drive Franklin, 4
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.79
    •  
  • 916 Colonial Way Franklin, 1
    • 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 2008
    property image
    LEASED 02/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.81
    •  
  • 2197 Bridlewood Drive Franklin, 2
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2006
    property image
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.80
    •  
  • 2693 Branigin Creek Boulevard Franklin, 3
    • 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 1997
    property image
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.85
    •  
  • 1085 Sunmeadow Circle Franklin, 5
    • 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 1998
    property image
    LEASED 03/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
PROPERTY LISTING DETAILS
James Linville
Carpenter, Realtors®
BESbswy