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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $145.00
- 6 Days on Market
- MLS # : 21758630
- Updated Date : 12/31/2020 at 08:28
CONSTRUCTION
- Beds : 3
- Floor Size : 1,551 sqft
- Baths : 2 full , 1 half
Listing Agent
Foundation Realty
Listing Agent's Description
Take a look, move in ready 3 bd 2.5 bath home with a Carmel mailing address and Westfield Schools. Freshly painted exterior trim as well as the entire interior of the home. New Luxury Vinyl Plank has been installed in the foyer, kitchen, laundry area and all bathrooms. New carpet upstairs. New light fixtures in all bathrooms. New ceiling fans in master (remote controlled) and family room. This is a MUST see home at this price in this area, convenient to US 31, Carmel, Westfield, Zionsville, Noblesville, Indy and areas North of Westfield. Hurry, this one should sell fast as there are not many homes in this area at this price point. Fully fenced back yard. No HOA. Seller has never occupied the home.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Spring Meadows
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Spring Meadows
* 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 | -$830 |
| Property Tax | -$341 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$131 | |
|
CASH FLOW
$91
|
||
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.
$224,900
PROJECTED PRICE
$1,450
PROJECTED RENT
0.64%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 4.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.07% |
| 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
$65,349
LOAN DETAILS
$830
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $56,225 |
| Loan Amount | $168,675 |
4.92
YEARS SAVED
$13,596
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 -
$0.93
LIST RENT PER SQFT
-
$1,458
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
3132 Springmeadow Lane Carmel, IN 4
- 3 beds 3 baths ∙ 1,551 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,551 Sqft ∙ Built 1994
![property image]()
- Rent
- Rent Per SQFT
- $1,450
- $0.93
-
14920 Oak Road Carmel, IN 1
- 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1999
![property image]()
LEASED 09/25/19- Rent
- Rent Per SQFT
- $1,350
- $0.93
-
14916 Oak Road Carmel, IN 2
- 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1998
![property image]()
LEASED 04/24/20- Rent
- Rent Per SQFT
- $1,400
- $0.91
-
14970 Copper Tree Way Carmel, IN 3
- 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1996
![property image]()
LEASED 08/16/19- Rent
- Rent Per SQFT
- $1,450
- $0.98
-
15006 Oak Road Carmel, IN 5
- 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 1996
![property image]()
LEASED 10/16/19- Rent
- Rent Per SQFT
- $1,699
- $0.94
PROPERTY LISTING DETAILS
1.317.956.6006
Foundation Realty
