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3902 Woods Bay Lane Plainfield, IN 46168

4 Beds 3 Baths 2,624 sqft Built 2004

$270,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $102.90
  • 3 Days on Market
  • MLS # : 21765745
  • Updated Date : 02/13/2021 at 12:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,624 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Indy Metro S

Listing Agent's Description

Very well maintained, charming, 2 story home w/ basement in popular Plainfield neighborhood on cul-de-sac lot! Beautiful cathedral ceilings in the entry allow lots of light and openness leading upstairs to 4 bedrooms and 2 full baths; 3 of the bedrooms with walk-in closets. Main level open concept kitchen and great room provide plenty of space for an eat-in kitchen, or front room can be used as a dining room. Back yard privacy fence fully enclosed with space for entertaining or gardening. You'll find great access to town trails, restaurants, and shopping, with the Plainfield Aquatic Center only blocks away and accessible by trail! Don't miss out on the opportunity to call this sought after area your home!

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: 46168

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k221k

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

Zip Code: 46168

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
Cascade Senior High School High Regular 469 36 10

Cascade Senior High School

  • Education Level: High
  • # of students: 469
  • # of teachers: 36
10
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$938
Property Tax -$417
Property Insurance -$78
HOA -$21
Property Management Fees -$161
CASH FLOW
$176

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.

$270,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.2%
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$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$18,344

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,073

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,7903$2,550
$2,550
RENT COMPS ANALYSIS
  • 3902 Woods Bay Lane Plainfield, IN 2
    • 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.68
    •  
  • 3899 Woods Bay Lane Plainfield, IN 1
    • 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 2003
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.65
    •  
  • 5308 Culver Lane Plainfield, IN 3
    • 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 1999
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.93
    •  
PROPERTY LISTING DETAILS
Joshua Moss
1.317.413.7292
Keller Williams Indy Metro S
BESbswy