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3015 Lodgepole Drive Whiteland, IN 46184

3 Beds 2 Baths 1,390 sqft Built 2010

$185,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $133.09
  • 2 Days on Market
  • MLS # : 21749668
  • Updated Date : 11/02/2020 at 10:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,390 sqft
  • Baths : 2 full
Listing Agent

F.c. Tucker Company

Listing Agent's Description

This house is a perfect 10! This 3 bedroom ranch is the cutest home in the neighboorhood. Home boast 9 foot ceilings, a large eat in kitchen with bump out, 2 full baths and a wood burning fireplace. Updates include new pergo laminate floors throughout the main living area and master bedroom, updated lighting throughout, new tile floors in both bathrooms and laundry room, new vanity in guest bath, new garage door and opener, expanded deck and pergola out back and many charming accents throughout that make this home one you can't resist! Don't miss checking this one out today!

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: Greenwood

ZipNIR Market*CityMarket2010Year20002019100k105k110k115k120k125k130k135k140k145k150k155k160k165kPrice in $99k168k

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

Neighborhood: Greenwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q21000105011001150120012501300135014001450150015501600Rent in $9991604

* 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
Pleasant Crossing Elementary School Primary Regular 712 36 5
Clark Pleasant Middle School Middle Regular 988 46 8
Whiteland Community High School High Regular 1,767 69 6

Pleasant Crossing Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 36
5
GreatSchools Rating

Clark Pleasant Middle School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 46
8
GreatSchools Rating

Whiteland Community High School

  • Education Level: High
  • # of students: 1,767
  • # of teachers: 69
6
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$683
Property Tax -$254
Property Insurance -$54
HOA -$25
Property Management Fees -$106
CASH FLOW
$59

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.

$185,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$10,105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,188

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,1803$1,2504$1,2505$1,295
$1,295
RENT COMPS ANALYSIS
  • 3015 Lodgepole Drive Whiteland, IN 2
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.85
    •  
  • 3258 Lodgepole Drive Whiteland, IN 1
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 2007
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.85
    •  
  • 85 Declaration Drive Greenwood, IN 3
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2000
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.83
    •  
  • 2261 Grand Fir Drive Greenwood, IN 4
    • 3 beds 3 baths ∙ 1,362 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,362 Sqft ∙ Built 2001
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.92
    •  
  • 2493 Grand Fir Drive Greenwood, IN 5
    • 3 beds 3 baths ∙ 1,587 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,587 Sqft ∙ Built 2001
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.82
    •  
PROPERTY LISTING DETAILS
Mollie Fraley
F.c. Tucker Company
BESbswy