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4122 Vera Drive Indianapolis, IN 46220

3 Beds 3 Baths 2,864 sqft Built 1954

$235,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $82.05
  • 4 Days on Market
  • MLS # : 21763205
  • Updated Date : 01/30/2021 at 05:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,864 sqft
  • Baths : 3 full
Listing Agent

Trueblood Real Estate

Listing Agent's Description

You don't see a Washington Township ranch w/ finished basement at this price very often! This home has a nice sized BR and full bath on main level in addition to a sprawling master suite w/ shower, tub & dbl sinks. Basement has option for 3rd bedroom (no egress window) as well as half bath. Kitchen updated with SS appliances. Formal dining room with hardwood flrs. Spacious LR features fireplace.Basement is finished with vinyl plank floors, a family room, bonus area, office and potential bedroom. From main level, walk out onto the deck with hot tub overlooking the fenced backyard. Updates: driveway sealed 2020, chimney swept 2020, refrigerator 2020, vinyl plank floor in basement 2019. Bring your clients to take a look today!

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: Eastwood

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200kPrice in $104k209k

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

Neighborhood: Eastwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q295010001050110011501200125013001350Rent in $9211383

* 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
John Strange Elementary School Primary Regular 633 29 7
Eastwood Middle School Middle Regular 835 47 4
North Central High School High Regular 3,518 182 7

John Strange Elementary School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 29
7
GreatSchools Rating

Eastwood Middle School

  • Education Level: Middle
  • # of students: 835
  • # of teachers: 47
4
GreatSchools Rating

North Central High School

  • Education Level: High
  • # of students: 3,518
  • # of teachers: 182
7
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$816
Property Tax -$419
Property Insurance -$82
Property Management Fees -$137
CASH FLOW
$66

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.

$235,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$8,825

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.53

    LIST RENT PER SQFT
  • $1,766

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,4003$1,5204$2,500
$2,500
RENT COMPS ANALYSIS
  • 4122 Vera Drive Indianapolis, IN 3
    • 3 beds 3 baths ∙ 2,864 Sqft ∙ Built 1954 3 beds 3 baths ∙ 2,864 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.53
    •  
  • 4515 Staughton Drive Indianapolis, IN 1
    • 3 beds 2 baths ∙ 2,938 Sqft ∙ Built 1954 3 beds 2 baths ∙ 2,938 Sqft ∙ Built 1954
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.41
    •  
  • 6477 North Parker Avenue Indianapolis, IN 2
    • 3 beds 2 baths ∙ 2,614 Sqft ∙ Built 1958 3 beds 2 baths ∙ 2,614 Sqft ∙ Built 1958
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.54
    •  
  • 4630 Cranbrook Drive Indianapolis, IN 4
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 1969
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Kimberly Carpenter
Trueblood Real Estate
BESbswy