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3331 Catalpa Avenue Indianapolis, IN 46228

3 Beds 2 Baths 2,725 sqft Built 1960

$179,995

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $66.05
  • 3 Days on Market
  • MLS # : 21752089
  • Updated Date : 11/13/2020 at 16:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,725 sqft
  • Baths : 2 full
Listing Agent

Grace & Agape Real Estate Serv

Listing Agent's Description

Charming 3 bed/ 2 full bath brick ranch w/ huge basement and four-season sunroom situated on large cul-de-sac lot with storage barn and beautiful mature trees. Updates: brand NEW furnace! (2020), gas water heater (2014 - still under warranty), roof replaced (2006), windows (2005), kitchen cabinets (2006).

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: Snacks - Guion Creek

NeighborhoodNIR Market*CityMarket2010Year20002019105k110k115k120k125k130k135k140k145k150k155k160k165kPrice in $104k168k

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

Neighborhood: Snacks - Guion Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250Rent in $9211282

* 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
Pike High School High Regular 3,159 161 5

Pike High School

  • Education Level: High
  • # of students: 3,159
  • # of teachers: 161
5
GreatSchools Rating
 

$161,996$197,995$179,995

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$664
Property Tax -$334
Property Insurance -$80
Property Management Fees -$140
CASH FLOW
$342

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.

$179,995

PROJECTED PRICE

$1,560

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 4.6%
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$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$53,449

INVESTMENT

$53,449

Down Payment
$44,999
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,999
Loan Amount $134,996
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$39,116

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,608

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,650
$1,650
RENT COMPS ANALYSIS
  • 3331 Catalpa Avenue Indianapolis, IN 1
    • 3 beds 2 baths ∙ 2,725 Sqft ∙ Built 1960 3 beds 2 baths ∙ 2,725 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.57
    •  
  • 5590 Grandview Drive Indianapolis, IN 2
    • 3 beds 2 baths ∙ 2,812 Sqft ∙ Built 1957 3 beds 2 baths ∙ 2,812 Sqft ∙ Built 1957
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.59
    •  
PROPERTY LISTING DETAILS
Ryan Hakes
Grace & Agape Real Estate Serv
BESbswy