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404 Amberleaf Trail E Westfield, IN 46074

3 Beds 2 Baths 1,878 sqft Built 1991

$249,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $133.07
  • 4 Days on Market
  • MLS # : 21764112
  • Updated Date : 02/05/2021 at 11:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,878 sqft
  • Baths : 2 full
Listing Agent

Century 21 Scheetz

Listing Agent's Description

You are cordially invited to come see this charming, immaculately cared for, 3 bedroom, 2 bath ranch home on a quiet, private little cul-de-sac and within walking distance of Midland Trace Trail. It's smoke free and pet free. There is also NO HOA and therefore no HOA fees! Recent updates include brand new vinyl plank flooring and security light, year old garbage disposal, 3-4 year old dishwasher and refrigerator, 7-8 year old 50 year dimensional shingles and gutter shutter gutters. The windows were replaced in 2009. The fireplace/chimney has been cleaned and inspected prior to listing. The HVAC system was replaced in 2009 and is checked and serviced annually. The room sizes are very generous. Plenty of privacy behind the home. Don't wait!

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 46074

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k314k

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

Zip Code: 46074

ZipNIR Market*CityMarket2010Year2000 Q32019 Q211001200130014001500160017001800190020002100Rent in $10402140

* 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
Monon Trail Elementary School Primary Regular 294 15 6
Westfield Middle School Middle Regular 1,042 48 7
Westfield High School High Regular 1,934 95 8

Monon Trail Elementary School

  • Education Level: Primary
  • # of students: 294
  • # of teachers: 15
6
GreatSchools Rating

Westfield Middle School

  • Education Level: Middle
  • # of students: 1,042
  • # of teachers: 48
7
GreatSchools Rating

Westfield High School

  • Education Level: High
  • # of students: 1,934
  • # of teachers: 95
8
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$868
Property Tax -$384
Property Insurance -$63
Property Management Fees -$149
CASH FLOW
$186

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.

$249,900

PROJECTED PRICE

$1,650

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$19,556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,715

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,7004$1,700
$1,700
RENT COMPS ANALYSIS
  • 404 Amberleaf Trail E Westfield, IN 2
    • 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 17257 Shadoan Way Westfield, IN 1
    • 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 1999
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 17219 Futch Way Westfield, IN 3
    • 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 1999
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 1934 Harvest Meadows Drive S Westfield, IN 4
    • 4 beds 3 baths ∙ 1,912 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,912 Sqft ∙ Built 1996
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
PROPERTY LISTING DETAILS
Bradford Elliott
Century 21 Scheetz
BESbswy