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3640 Ontario Circle Indianapolis, IN 46268

3 Beds 3 Baths 1,886 sqft Built 1986

$215,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $114.00
  • 8 Days on Market
  • MLS # : 21762874
  • Updated Date : 01/30/2021 at 00:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,886 sqft
  • Baths : 2 full , 1 half
Listing Agent

F.c. Tucker Company

Listing Agent's Description

This great home offers lots of updates including a new dishwasher installed in 2020, a new water heater and air conditioner installed in 2018, and in 2016 new laminate and tile flooring were installed throughout the first floor and new carpeting was installed throughout the upstairs. The roof, windows and siding were replaced in 2008. The large backyard backs up to a tree line, so there are no neighbors behind you, and the home sits on a cul-de-sac. This house is very close to shopping and entertainment and has so much to offer its new owners.

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: Augusta-New Augusta

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170kPrice in $87k172k

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

Neighborhood: Augusta-New Augusta

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2800850900950100010501100115012001250130013501400Rent in $7941433

* 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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$747
Property Tax -$337
Property Insurance -$64
Property Management Fees -$125
CASH FLOW
$118

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.

$215,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.9%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$12,237

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,532

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,3953$1,5654$1,6655$1,675
$1,675
RENT COMPS ANALYSIS
  • 3640 Ontario Circle Indianapolis, IN 1
    • 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.74
    •  
  • 9350 Golden Leaf Way Indianapolis, IN 2
    • 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 1985
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
  • 3823 Oil Creek Drive Indianapolis, IN 3
    • 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 1986
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.86
    •  
  • 4115 Caddy Way Indianapolis, IN 4
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1997
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.76
    •  
  • 7548 Allenwood Court Indianapolis, IN 5
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1988
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.78
    •  
PROPERTY LISTING DETAILS
Mandi J. Cheesman
F.c. Tucker Company
BESbswy