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39 Maple Street Whiteland, IN 46184

3 Beds 1 Baths 1,518 sqft Built 1954

$169,900

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $111.92
  • 3 Days on Market
  • MLS # : 21750462
  • Updated Date : 11/06/2020 at 12:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,518 sqft
  • Baths : 1 full
Listing Agent

Highgarden Real Estate

Listing Agent's Description

Welcome home to this clean and spacious ranch home in Maple Crest! Open the front door and discover the open concept flow between the living room, large kitchen, and spacious dining room. Plenty of windows that allow tons of natural light to seep through. Newer flooring, painting, and stainless steel appliances! You'll love the bug kitchen with plenty of cabinet space --and the kitchen island stays! Extra bonuses off the kitchen include the dedicated laundry area and an additional 4th bedroom that could be an office space or den. TWO great patio areas with french doors off the dining room and den! Large storage barn and very spacious backyard! One car garage. Perfect location with access to desirable Clark-Pleasant Community Schools.

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: 46184

ZipNIR Market*CityMarket2010Year20002019100k105k110k115k120k125k130k135k140k145k150k155k160k165kPrice in $99k168k

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

Zip Code: 46184

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210001050110011501200125013001350Rent in $9991375

* 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
Whiteland Elementary School Primary Regular 430 22 8
Clark Pleasant Middle School Middle Regular 988 46 8
Whiteland Community High School High Regular 1,767 69 6

Whiteland Elementary School

  • Education Level: Primary
  • # of students: 430
  • # of teachers: 22
8
GreatSchools Rating

Clark Pleasant Middle School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 46
8
GreatSchools Rating

Whiteland Community High School

  • Education Level: High
  • # of students: 1,767
  • # of teachers: 69
6
GreatSchools Rating
 

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

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$627
Property Tax -$233
Property Insurance -$56
Property Management Fees -$115
CASH FLOW
$249

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

$1,280

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 7.0%
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$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 30% down payment or higher enables the proceeds from the asset to cover all costs.

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$31,253

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,305

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,0953$1,2454$1,280
$1,280
RENT COMPS ANALYSIS
  • 39 Maple Street Whiteland, IN 4
    • 3 beds 1 baths ∙ 1,518 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,518 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.84
    •  
  • 208 Crestwood Drive New Whiteland, IN 1
    • 3 beds 1 baths ∙ 1,221 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,221 Sqft ∙ Built 1956
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.90
    •  
  • 1107 Warwick Road New Whiteland, IN 2
    • 3 beds 1 baths ∙ 1,318 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,318 Sqft ∙ Built 1971
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.83
    •  
  • 510 Colony Drive Whiteland, IN 3
    • 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1972
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.85
    •  
PROPERTY LISTING DETAILS
Laura Waters
Highgarden Real Estate
BESbswy