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375 North Bazil Avenue Indianapolis, IN 46219

3 Beds 1 Baths 912 sqft Built 1952

$120,000

List Price

$850

$765 - $935

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $131.58
  • 3 Days on Market
  • MLS # : 21768442
  • Updated Date : 02/27/2021 at 22:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 912 sqft
  • Baths : 1 full
Listing Agent

Indy House And Home

Listing Agent's Description

Open House 12-3, Sunday, Feb 28th. Cozy 3 bedroom ranch on corner lot with spacious side yard. Two covered privacy patios one on each side of the Breezeway/3 season area to allow you to enjoy the outdoors. Large 24 x 24 attached garage and gravel driveway for even more parking. This home has been very well maintained. In 2019 & 2020 the home went through a major renovation. New roof, new air conditioner, plumbing was redone, new water system that allows you to EASILY shut the water off to only the location that needs it, new laminate floors over new subfloors. New water heater (2018), New Furnace (2012) and foundation was repaired in 2010. The only thing this home will need is your personal touches!

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PRICE & RENT TRENDS

Neighborhood: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $81k168k

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

Neighborhood: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7461268

* 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
Hawthorne Elementary School Primary Regular 450 23 5
Raymond Park Middle School Middle Regular 624 31 3
Warren Central High School High Regular 3,602 147 2

Hawthorne Elementary School

  • Education Level: Primary
  • # of students: 450
  • # of teachers: 23
5
GreatSchools Rating

Raymond Park Middle School

  • Education Level: Middle
  • # of students: 624
  • # of teachers: 31
3
GreatSchools Rating

Warren Central High School

  • Education Level: High
  • # of students: 3,602
  • # of teachers: 147
2
GreatSchools Rating
 

$108,000$132,000$120,000

PURCHASE PRICE

$765$935$850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $850
EXPENSES Loan Payment -$417
Property Tax -$210
Property Insurance -$45
Property Management Fees -$77
CASH FLOW
$102

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.

$120,000

PROJECTED PRICE

$850

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.4%
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$50k$100k$150k$200k$250k$300k$350k$400k

PROJECTED ANNUAL CASH FLOW

11530$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$37,550

INVESTMENT

$37,550

Down Payment
$30,000
Rehab Estimate
$5,750
Closing Costs
$1,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$417

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $30,000
Loan Amount $90,000
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$8,859

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $850

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $839

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$795
1$7952$8503$9254$9505$1,045
$1,045
RENT COMPS ANALYSIS
  • 375 North Bazil Avenue Indianapolis, IN 2
    • 3 beds 1 baths ∙ 912 Sqft ∙ Built 1952 3 beds 1 baths ∙ 912 Sqft ∙ Built 1952
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.93
    •  
  • 701 North Devon Avenue Indianapolis, IN 1
    • 3 beds 1 baths ∙ 912 Sqft ∙ Built 1954 3 beds 1 baths ∙ 912 Sqft ∙ Built 1954
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $795
    • $0.87
    •  
  • 121 South Wittfield Street Indianapolis, IN 3
    • 3 beds 1 baths ∙ 950 Sqft ∙ Built 1954 3 beds 1 baths ∙ 950 Sqft ∙ Built 1954
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $925
    • $0.97
    •  
  • 55 South Brentwood Avenue Indianapolis, IN 4
    • 3 beds 1 baths ∙ 1,062 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,062 Sqft ∙ Built 1962
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.89
    •  
  • 413 North Devon Avenue Indianapolis, IN 5
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1966 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1966
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,045
    • $0.95
    •  
PROPERTY LISTING DETAILS
Devina Cagle
1.317.800.9367
Indy House And Home
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21768442
Last Updated: 02/27/2021
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