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399 Elmscourt Circle Greenwood, IN 46142

5 Beds 3 Baths 2,885 sqft Built 1999

$310,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $107.45
  • 3 Days on Market
  • MLS # : 21765828
  • Updated Date : 02/13/2021 at 20:03
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,885 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty World-harbert Company

Listing Agent's Description

Brick custom-built 5 bedroom ranch with basement in Center Grove/Greenwood offers a great room, family room, formal dining room, bonus room and laundry room with extra cabinets and sink! Brand new roof in 2020 and new replacement windows coming in March 2021. Eat-in kitchen with center island and garden window overlooking huge fully fenced backyard. Master suite offers double sinks, garden tub and walk-in closet. Other features include gas log fireplace, 16x15 deck and 20x15 brick patio. Finished 2+ car attached garage for storage. Lot sits on cul-de-sac with mature trees. Fair Oaks is a highly sought after neighborhood!

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
Pleasant Grove Elementary School Primary Regular 571 28 7
Center Grove Middle School North Middle Regular 884 50 7
Center Grove High School High Regular 2,455 112 9

Pleasant Grove Elementary School

  • Education Level: Primary
  • # of students: 571
  • # of teachers: 28
7
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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,077
Property Tax -$418
Property Insurance -$83
HOA -$33
Property Management Fees -$158
CASH FLOW
-$18

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.

$310,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.56%

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$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,367

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,923

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,665
1$1,6652$1,7503$1,7954$1,950
$1,950
RENT COMPS ANALYSIS
  • 399 Elmscourt Circle Greenwood, IN 2
    • 5 beds 3 baths ∙ 2,885 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,885 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.61
    •  
  • 4331 Blackwood Court Greenwood, IN 1
    • 5 beds 3 baths ∙ 2,560 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,560 Sqft ∙ Built 1998
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.65
    •  
  • 301 Wales Court Greenwood, IN 3
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1998
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.71
    •  
  • 1606 Lavender Lane Greenwood, IN 4
    • 5 beds 3 baths ∙ 3,050 Sqft ∙ Built 2010 5 beds 3 baths ∙ 3,050 Sqft ∙ Built 2010
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
PROPERTY LISTING DETAILS
Brian Harbert
1.317.459.2715
Realty World-harbert Company
BESbswy