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3229 Black Forest Lane Indianapolis, IN 46239

4 Beds 3 Baths 2,328 sqft Built 2005

$204,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $88.02
  • 2 Days on Market
  • MLS # : 21770785
  • Updated Date : 03/13/2021 at 09:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,328 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Scheetz

Listing Agent's Description

If open concept is what you are looking for....this is it! This 4 bedroom, 2.5 bath house located in the ever desirable Franklin Township is ready for you! Kitchen and Living room is completely open and ready for entertaining! Head upstairs to the loft and oversized bedrooms with walk in closets. Furnace was just replaced in 2021, Water heater new in 2020, AC in 2019, patio in 2018, and new carpet in 2017. There is storage and space galore in this house and especially in the kitchen! The fully privacy fenced backyard was recently repaired and allows maximum privacy!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Five Points

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170kPrice in $87k179k

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

Neighborhood: Five Points

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2800850900950100010501100115012001250Rent in $7941268

* 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
Franklin Central High School High Regular 2,503 110 9

Franklin Central High School

  • Education Level: High
  • # of students: 2,503
  • # of teachers: 110
9
GreatSchools Rating
 

$184,410$225,390$204,900

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$712
Property Tax -$320
Property Insurance -$72
HOA -$21
Property Management Fees -$131
CASH FLOW
$195

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.

$204,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,049

INVESTMENT

$60,049

Down Payment
$51,225
Rehab Estimate
$5,750
Closing Costs
$3,074

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$712

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,225
Loan Amount $153,675
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$18,267

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
  • $0.62

    LIST RENT PER SQFT
  • $1,490

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3503$1,3954$1,4505$1,595
$1,595
RENT COMPS ANALYSIS
  • 3229 Black Forest Lane Indianapolis, IN 4
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.62
    •  
  • 7731 Brandenburg Way Indianapolis, IN 1
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2005
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.64
    •  
  • 2883 Beethoven Avenue Indianapolis, IN 2
    • 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 2008
    property image
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.57
    •  
  • 7915 Caraway Place Indianapolis, IN 3
    • 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 2004
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.67
    •  
  • 3052 Danube Way Indianapolis, IN 5
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2006
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
PROPERTY LISTING DETAILS
Melissa Mendoza
1.317.965.0740
Century 21 Scheetz
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21770785
Last Updated: 03/13/2021
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