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371 North Peterman Road Greenwood, IN 46142

3 Beds 2 Baths 1,264 sqft Built 1971

$185,000

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $146.36
  • 3 Days on Market
  • MLS # : 21757023
  • Updated Date : 12/12/2020 at 12:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,264 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Indy Metro S

Listing Agent's Description

Cute, updated ranch in desireable Center Grove! Mature trees shade the half acre fenced lot boasting tons of room for outdoor activities. The Kitchen has been beautifully remodeled opening the space to the living room and adding new white cabinets, quartz counter tops, modern tile floor, and a huge center island with butcher block top & seating! Refinished, original hardwood floors flow from the living room down the hall to each bedroom. The Family room (connecting the kitchen with the covered patio & 2-car garage) is a great second living space! It could be your formal dining room, a hobbyist's dream workshop, home theater, or just a comfy space for spending time with friends and family!

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

Zip Code: 46142

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k221k

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

Zip Code: 46142

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10401551

* 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 Grove Elementary School Primary Regular 612 30 5
Center Grove Middle School North Middle Regular 884 50 7
Center Grove High School High Regular 2,455 112 9

North Grove Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 30
5
GreatSchools Rating

Center Grove Middle School North

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 50
7
GreatSchools Rating

Center Grove High School

  • Education Level: High
  • # of students: 2,455
  • # of teachers: 112
9
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$683
Property Tax -$209
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
$58

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.

$185,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 8.07%
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-$2.0k$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$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$10,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,103

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$1,0753$1,0954$1,1005$1,150
$1,150
RENT COMPS ANALYSIS
  • 371 North Peterman Road Greenwood, IN 4
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.87
    •  
  • 4762 Walker Street Greenwood, IN 1
    • 3 beds 2 baths ∙ 919 Sqft ∙ Built 1951 3 beds 2 baths ∙ 919 Sqft ∙ Built 1951
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.92
    •  
  • 1125 Mopac Court Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1982
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $0.90
    •  
  • 5060 Max Avenue Greenwood, IN 3
    • 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 1955
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.85
    •  
  • 519 Hunting Creek Drive Greenwood, IN 5
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1991
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.82
    •  
PROPERTY LISTING DETAILS
Tonda Hoagland
1.317.340.4575
Keller Williams Indy Metro S
BESbswy