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4060 Waterfield Drive Indianapolis, IN 46235

4 Beds 3 Baths 1,795 sqft Built 1998

INVESTimate

$167,900

List Price

$1,310

$1,179 - $1,441

Rent Est.

$177,000  ( +5.42%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $93.54
  • 3 Days on Market
  • MLS # : 21734672
  • Updated Date : 08/25/2020 at 09:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,795 sqft
  • Baths : 2 full , 1 half
Listing Agent

Carpenter, Realtors®

Listing Agent's Description

4 Bedrooms 2.5 bathrooms located in Lawrence Township. Freshly painted, nice size family room w/ electric fireplace, Master bedroom w/ balcony and master bathroom all bedrooms upstairs. Nice size fenced in backyard with good size deck for entertaining. This home just needs your finishing touch and some TLC.

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: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $81k168k

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

Neighborhood: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7461268

* 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
Winding Ridge Elementary School Of Inquiry And Performing Arts (east Side) Primary Regular 617 33 3
Fall Creek Valley Middle School Middle Regular 1,159 57 3
Lawrence North High School High Regular 2,293 109 5

Winding Ridge Elementary School Of Inquiry And Performing Arts (east Side)

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 33
3
GreatSchools Rating

Fall Creek Valley Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 57
3
GreatSchools Rating

Lawrence North High School

  • Education Level: High
  • # of students: 2,293
  • # of teachers: 109
5
GreatSchools Rating
 

$151,110$184,690$167,900

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$619
Property Tax -$262
Property Insurance -$62
HOA -$23
Property Management Fees -$118
CASH FLOW
$226

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.

$167,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.42%
Maintenance Year (1-5) 8.00%
Vacancy 8.45%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,244

INVESTMENT

$50,244

Down Payment
$41,975
Rehab Estimate
$5,750
Closing Costs
$2,519

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$619

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,975
Loan Amount $125,925
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$25,348

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,257

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,3103$1,3454$1,3755$1,395
$1,395
RENT COMPS ANALYSIS
  • 4060 Waterfield Drive Indianapolis, 2
    • 4 beds 3 baths ∙ 1,795 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,795 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.73
    •  
  • 11045 Waterfield Lane Indianapolis, 1
    • 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 2001
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.72
    •  
  • 11125 Steelewater Court Indianapolis, 3
    • 3 beds 3 baths ∙ 1,969 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,969 Sqft ∙ Built 2002
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.68
    •  
  • 10827 Sterling Apple Drive Indianapolis, 4
    • 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2002
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.69
    •  
  • 11027 Leo Drive Indianapolis, 5
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1998
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.71
    •  
PROPERTY LISTING DETAILS
Shelly Jett
Carpenter, Realtors®
BESbswy