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3232 Bonham Drive Indianapolis, IN 46222

3 Beds 2 Baths 2,868 sqft Built 1955

$159,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $55.44
  • 4 Days on Market
  • MLS # : 21768391
  • Updated Date : 02/27/2021 at 10:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,868 sqft
  • Baths : 2 full
Listing Agent

Community Real Estate Services

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Venerable Flackville

NeighborhoodNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160kPrice in $51k169k

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

Neighborhood: Venerable Flackville

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2500600700800900100011001200Rent in $4941268

* 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
Northwest Community Junior Senior High School Middle Regular 367 33 NA

Northwest Community Junior Senior High School

  • Education Level: Middle
  • # of students: 367
  • # of teachers: 33
NA
GreatSchools Rating
 

$143,100$174,900$159,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$552
Property Tax -$308
Property Insurance -$82
Property Management Fees -$116
CASH FLOW
$231

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.

$159,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 1.4%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$47,885

INVESTMENT

$47,885

Down Payment
$39,750
Rehab Estimate
$5,750
Closing Costs
$2,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$552

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $39,750
Loan Amount $119,250
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$20,810

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.45

    LIST RENT PER SQFT
  • $1,463

    COMP ESTIMATED VALUE
  • $0.51

    COMP AVG. RENT PER SQFT
Comps Range
$1,165
1$1,1652$1,2903$1,750
$1,750
RENT COMPS ANALYSIS
  • 3232 Bonham Drive Indianapolis, IN 2
    • 4 beds 2 baths ∙ 2,868 Sqft ∙ Built 1955 4 beds 2 baths ∙ 2,868 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.45
    •  
  • 3080 Meeting House Lane Indianapolis, IN 1
    • 3 beds 2 baths ∙ 2,842 Sqft ∙ Built 1956 3 beds 2 baths ∙ 2,842 Sqft ∙ Built 1956
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,165
    • $0.41
    •  
  • 3220 Kessler Blvd North Drive Indianapolis, IN 3
    • 3 beds 2 baths ∙ 2,864 Sqft ∙ Built 1954 3 beds 2 baths ∙ 2,864 Sqft ∙ Built 1954
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.61
    •  
PROPERTY LISTING DETAILS
Michael Dalton
1.317.313.3996
Community Real Estate Services
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21768391
Last Updated: 02/27/2021
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