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3646 South New Jersey Street Indianapolis, IN 46227

3 Beds 2 Baths 1,447 sqft Built 1956

$149,900

List Price

$1,110

$999 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $103.59
  • 2 Days on Market
  • MLS # : 21771200
  • Updated Date : 03/13/2021 at 12:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,447 sqft
  • Baths : 1 full , 1 half
Listing Agent

Smart Choice Realtors, Llc

Listing Agent's Description

This home is being sold to settle the estate. Seller lived here for many years and has maintained it. Lots of perennials and mature landscaping in this almost 1/2 yard. All brick ranch has a large master bedroom added from previous owner. Personal representative states there are rooms with hardwood floors under carpet but doesn't know the condition. Oversized finished 1 car garage with newer garage door. Large patio looks out over beautiful yard. All appliances can stay but are not warranted. All are working to the best of personal representative's knowledge. No HOA. Very little traffic on this dead end street. Immediate possession, easy access to interstate and bus line. Close to UIndy.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Perry

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160kPrice in $79k168k

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

Neighborhood: North Perry

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2650700750800850900950100010501100115012001250Rent in $6251268

* 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
Abraham Lincoln Elementary School Primary Regular 858 41 4
Perry Meridian 6th Grade Academy Middle Regular 569 36 6
Perry Meridian High School High Regular 2,256 110 6

Abraham Lincoln Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 41
4
GreatSchools Rating

Perry Meridian 6th Grade Academy

  • Education Level: Middle
  • # of students: 569
  • # of teachers: 36
6
GreatSchools Rating

Perry Meridian High School

  • Education Level: High
  • # of students: 2,256
  • # of teachers: 110
6
GreatSchools Rating
 

$134,910$164,890$149,900

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$521
Property Tax -$305
Property Insurance -$55
Property Management Fees -$100
CASH FLOW
$130

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.

$149,900

PROJECTED PRICE

$1,110

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.3%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,474

INVESTMENT

$45,474

Down Payment
$37,475
Rehab Estimate
$5,750
Closing Costs
$2,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$521

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $37,475
Loan Amount $112,425
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$10,735

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,110

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,147

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$9503$9994$1,0255$1,110
$1,110
RENT COMPS ANALYSIS
  • 3646 South New Jersey Street Indianapolis, IN 5
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $0.77
    •  
  • 1458 Standish Avenue Indianapolis, IN 1
    • 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 1960
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.72
    •  
  • 3863 Asbury Street Indianapolis, IN 2
    • 3 beds 1 baths ∙ 1,116 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,116 Sqft ∙ Built 1968
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.85
    •  
  • 1650 East Kelly Street Indianapolis, IN 3
    • 4 beds 1 baths ∙ 1,440 Sqft ∙ Built 1968 4 beds 1 baths ∙ 1,440 Sqft ∙ Built 1968
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $999
    • $0.69
    •  
  • 843 East Berwyn Street Indianapolis, IN 4
    • 4 beds 1 baths ∙ 1,125 Sqft ∙ Built 1968 4 beds 1 baths ∙ 1,125 Sqft ∙ Built 1968
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.91
    •  
PROPERTY LISTING DETAILS
Suzanne Roell-carlson
1.317.506.4430
Smart Choice Realtors, Llc
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21771200
Last Updated: 03/13/2021
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