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3670 Riverwood Drive Indianapolis, IN 46214

3 Beds 2 Baths 1,360 sqft Built 1986

$169,900

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $124.93
  • 3 Days on Market
  • MLS # : 21760802
  • Updated Date : 01/15/2021 at 18:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,360 sqft
  • Baths : 2 full
Listing Agent

Broker Direct Realty, Llc

Listing Agent's Description

Remodeled brick beauty in Warren Township. Tastefully done with neutrals and greys. Appliances in kitchen are included.

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: Waterwood at Eagle Creek

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $86k168k

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

Neighborhood: Waterwood at Eagle Creek

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
North Wayne Elementary School Primary Regular 846 49 1
Chapel Hill 7th And 8th Grade Center Middle Regular 1,105 78 4
Ben Davis University High School High Regular 358 18 4

North Wayne Elementary School

  • Education Level: Primary
  • # of students: 846
  • # of teachers: 49
1
GreatSchools Rating

Chapel Hill 7th And 8th Grade Center

  • Education Level: Middle
  • # of students: 1,105
  • # of teachers: 78
4
GreatSchools Rating

Ben Davis University High School

  • Education Level: High
  • # of students: 358
  • # of teachers: 18
4
GreatSchools Rating
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$590
Property Tax -$316
Property Insurance -$53
HOA -$21
Property Management Fees -$111
CASH FLOW
$139

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.

$169,900

PROJECTED PRICE

$1,230

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.5%
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$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$11,924

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,255

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,2653$1,2754$1,3005$1,345
$1,345
RENT COMPS ANALYSIS
  • 3670 Riverwood Drive Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.90
    •  
  • 4356 Braemar Drive Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1983
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.96
    •  
  • 3744 Smallwood Lane Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1986
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.87
    •  
  • 4135 Waterthrush Drive Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1996
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.91
    •  
  • 9211 Lansburgh Circle Indianapolis, IN 5
    • 3 beds 3 baths ∙ 1,420 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,420 Sqft ∙ Built 1990
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.95
    •  
PROPERTY LISTING DETAILS
Lori Summers
Broker Direct Realty, Llc
BESbswy