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3709 Laurel Cherry Lane Indianapolis, IN 46239

4 Beds 2 Baths 1,383 sqft Built 2003

$170,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $122.92
  • 2 Days on Market
  • MLS # : 21765908
  • Updated Date : 02/13/2021 at 18:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,383 sqft
  • Baths : 2 full
Listing Agent

Tomorrow Realty, Inc.

Listing Agent's Description

Nice 4 bedroom ranch in convenient Franklin Township location. This well cared for home features a welcoming covered front porch, split bedroom floorplan, a living room, formal dining room, and breakfast room off the kitchen. This home is neat and clean and move-in ready. Updates include: New LVL flooring in kitchen, dining room, new faucets in kitchen and baths, updated lighting throughout, new toilets, new water heater, newer kitchen appliances. Nice clean garage, wood deck and privacy fenced rear yard with mini-barn and nicely landscaped lawn.

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: Five Points

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170kPrice in $87k179k

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

Neighborhood: Five Points

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
Franklin Central High School High Regular 2,503 110 9

Franklin Central High School

  • Education Level: High
  • # of students: 2,503
  • # of teachers: 110
9
GreatSchools Rating
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$590
Property Tax -$266
Property Insurance -$54
HOA -$22
Property Management Fees -$105
CASH FLOW
$133

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.

$170,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.7%
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$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

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 $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$12,348

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,231

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,1753$1,2504$1,3005$1,350
$1,350
RENT COMPS ANALYSIS
  • 3709 Laurel Cherry Lane Indianapolis, IN 1
    • 4 beds 2 baths ∙ 1,383 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,383 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.85
    •  
  • 3415 Spring Wind Lane Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 2003
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.89
    •  
  • 3341 Summer Breeze Lane Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2003
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.83
    •  
  • 3717 Laurel Cherry Lane Indianapolis, IN 4
    • 4 beds 2 baths ∙ 1,397 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,397 Sqft ∙ Built 2003
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
  • 7747 Danube Street Indianapolis, IN 5
    • 4 beds 3 baths ∙ 1,486 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,486 Sqft ∙ Built 2011
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
PROPERTY LISTING DETAILS
Joe Farley
Tomorrow Realty, Inc.
BESbswy