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3737 West 42nd Terrace Indianapolis, IN 46228

3 Beds 2 Baths 1,730 sqft Built 1990

$182,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $105.20
  • 3 Days on Market
  • MLS # : 21754985
  • Updated Date : 12/11/2020 at 23:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,730 sqft
  • Baths : 2 full
Listing Agent

F.c. Tucker Company

Listing Agent's Description

Cozy 3 Bedroom Ranch, 2 Full-Size Bathrooms with Dual Vanities, 70% Hardwood Flooring Throughout, Upscale Lighting, Vaulted Ceilings, Family Room with Cozy Fireplace! Master Suite features Walk-in Closet, Bathroom has a Garden Tub and Separate Shower. Kitchen w/center Island. Stove, Dishwasher, Microwave and Black Refrigerator (in Garage) is Included. Cameras, Alarm, Touch Lock Key Pad, Smart Garage Door Openers, Smart Nest Thermostat Stays. Big Backyard with Wooden Deck, Privacy Fence and Gazebo. Conveniently located to I65, art museum & downtown!! Make this a must see!

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: Snacks - Guion Creek

NeighborhoodNIR Market*CityMarket2010Year20002019105k110k115k120k125k130k135k140k145k150k155k160k165kPrice in $104k168k

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

Neighborhood: Snacks - Guion Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250Rent in $9211282

* 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
 

$163,800$200,200$182,000

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 -$672
Property Tax -$285
Property Insurance -$61
HOA -$8
Property Management Fees -$125
CASH FLOW
$240

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.

$182,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$53,980

INVESTMENT

$53,980

Down Payment
$45,500
Rehab Estimate
$5,750
Closing Costs
$2,730

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$672

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,500
Loan Amount $136,500
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$29,074

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
  • $0.8

    LIST RENT PER SQFT
  • $1,393

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2953$1,3454$1,3905$1,475
$1,475
RENT COMPS ANALYSIS
  • 3737 West 42nd Terrace Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.80
    •  
  • 3821 Cologne Court Indianapolis, IN 1
    • 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 1991
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.71
    •  
  • 3710 West 43rd Terrace Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1988
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.83
    •  
  • 3704 Sofia Place Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1991
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.86
    •  
  • 3707 Antwerp Terrace Indianapolis, IN 5
    • 3 beds 3 baths ∙ 1,802 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,802 Sqft ∙ Built 1990
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
PROPERTY LISTING DETAILS
Earlita Webster
F.c. Tucker Company
BESbswy