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4053 Barnor Drive Indianapolis, IN 46226

3 Beds 1 Baths 1,444 sqft Built 1958

$100,000

List Price

$950

$855 - $1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1958
  • Price/Sqft : $69.25
  • 5 Days on Market
  • MLS # : 21750653
  • Updated Date : 11/04/2020 at 17:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,444 sqft
  • Baths : 1 full
Listing Agent

T&h Realty Services, Inc.

Listing Agent's Description

Located in Lawrence off 42nd & Arlington, this nice 3 bedroom home features a lovely, updated eat-in kitchen and two living spaces. New carpet as well as fresh paint. 10 minutes to Downtown and interstate access for easy access to dining & shopping. Nice, large patio in fenced backyard perfect for pets! Spacious storage area on the back of 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

Neighborhood: Devington

NeighborhoodNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160kPrice in $56k168k

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

Neighborhood: Devington

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2650700750800850900950100010501100115012001250Rent in $6411268

* 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
George H. Fisher School 93 Primary Regular 414 32 4
George H. Fisher School 93 Middle Regular 414 32 4
Arlington Middle School Middle Unknown NA

George H. Fisher School 93

  • Education Level: Primary
  • # of students: 414
  • # of teachers: 32
4
GreatSchools Rating

George H. Fisher School 93

  • Education Level: Middle
  • # of students: 414
  • # of teachers: 32
4
GreatSchools Rating

Arlington Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$90,000$110,000$100,000

PURCHASE PRICE

$855$1,045$950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $950
EXPENSES Loan Payment -$369
Property Tax -$193
Property Insurance -$55
Property Management Fees -$86
CASH FLOW
$248

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.

$100,000

PROJECTED PRICE

$950

PROJECTED RENT

0.95%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 1.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$32,250

INVESTMENT

$32,250

Down Payment
$25,000
Rehab Estimate
$5,750
Closing Costs
$1,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$369

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $25,000
Loan Amount $75,000
See What Happens When You Reinvest Cash Flow

13.42

YEARS SAVED

$25,480

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $950

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,029

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$825
1$8252$8753$9504$9505$1,000
$1,000
RENT COMPS ANALYSIS
  • 4053 Barnor Drive Indianapolis, IN 4
    • 3 beds 1 baths ∙ 1,444 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,444 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.66
    •  
  • 4002 North Edmondson Ave Indianapolis, IN 1
    • 4 beds 1 baths ∙ 1,120 Sqft ∙ Built 1954 4 beds 1 baths ∙ 1,120 Sqft ∙ Built 1954
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $825
    • $0.74
    •  
  • 6720 East 42nd Street Indianapolis, IN 2
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1958
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.73
    •  
  • 3914 North Whittier Place Indianapolis, IN 3
    • 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 1960
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.61
    •  
  • 7103 East 45th Street Lawrence, IN 5
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1956
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.77
    •  
PROPERTY LISTING DETAILS
Delanie B. Schembra
T&h Realty Services, Inc.
BESbswy