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2809 Sheffield Drive Indianapolis, IN 46229

5 Beds 3 Baths 2,456 sqft Built 1973

$155,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $63.11
  • 2 Days on Market
  • MLS # : 21770718
  • Updated Date : 03/14/2021 at 00:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,456 sqft
  • Baths : 2 full , 1 half
Listing Agent

Carpenter, Realtors®

Listing Agent's Description

Welcome Home! This Warren township 5 bedroom 2.5 bathroom home can be found in the delightful neighborhood of the Sheffield Woods subdivision. As you Step inside this cozy home you will find tons of character that just needs a little TLC (Home is being sold as-is). This home offers an all brick fireplace, basement and a huge backyard which is ideal for entertaining! The neighborhood has NO HOA but has a lot of community involvement. The back yard has 2 nice size sheds with fencing all the way around. The garage was converted into a 5th bedroom for extra space but can easily be converted back. The HVAC is newer and the Water Heater is new.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $81k168k

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

Neighborhood: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7461268

* 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
Brookview Elementary School Primary Regular 578 28 3
Stonybrook Middle School Middle Regular 627 36 3
Warren Central High School High Regular 3,602 147 2

Brookview Elementary School

  • Education Level: Primary
  • # of students: 578
  • # of teachers: 28
3
GreatSchools Rating

Stonybrook Middle School

  • Education Level: Middle
  • # of students: 627
  • # of teachers: 36
3
GreatSchools Rating

Warren Central High School

  • Education Level: High
  • # of students: 3,602
  • # of teachers: 147
2
GreatSchools Rating
 

$139,500$170,500$155,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$538
Property Tax -$271
Property Insurance -$74
Property Management Fees -$112
CASH FLOW
$245

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.

$155,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.45%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

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$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$538

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

10

YEARS SAVED

$23,235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.5

    LIST RENT PER SQFT
  • $1,271

    COMP ESTIMATED VALUE
  • $0.52

    COMP AVG. RENT PER SQFT
Comps Range
$1,075
1$1,0752$1,2403$1,2504$1,2955$1,445
$1,445
RENT COMPS ANALYSIS
  • 2809 Sheffield Drive Indianapolis, IN 2
    • 5 beds 3 baths ∙ 2,456 Sqft ∙ Built 1973 5 beds 3 baths ∙ 2,456 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.50
    •  
  • 9203 East Stardust Drive Indianapolis, IN 1
    • 4 beds 1 baths ∙ 2,160 Sqft ∙ Built 1966 4 beds 1 baths ∙ 2,160 Sqft ∙ Built 1966
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $0.50
    •  
  • 11042 East Amburg Court Indianapolis, IN 3
    • 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 1991
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.56
    •  
  • 10323 East Rouark Lane Indianapolis, IN 4
    • 5 beds 2 baths ∙ 2,785 Sqft ∙ Built 1973 5 beds 2 baths ∙ 2,785 Sqft ∙ Built 1973
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.46
    •  
  • 10340 East Woodhaven Circle Indianapolis, IN 5
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1978
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.55
    •  
PROPERTY LISTING DETAILS
Danielle Coleman
Carpenter, Realtors®
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21770718
Last Updated: 03/14/2021
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