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4149 Elmhurst Drive Indianapolis, IN 46226

3 Beds 2 Baths 1,140 sqft Built 1950

$135,000

List Price

$900

$810 - $990

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $118.42
  • 3 Days on Market
  • MLS # : 21765873
  • Updated Date : 02/12/2021 at 20:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,140 sqft
  • Baths : 2 full
Listing Agent

Plat Collective

Listing Agent's Description

Lawrence Twp. Schools! 3 Bedroom w/ Den (or 4 Bedroom), 2 Full Baths, Ceramic Tiled Master Bathroom w/ Jacuzzi Bathtub!! Freshly Painted Interior & Exterior, All New Carpet & Pad, Brand New Insulated Vinyl Windows!! Brand New Oak Kitchen Cabinets, Counter-top & Range Hood, , (Dishwasher Ready), Garbage Disposal, Rear Security Door, Gas Furnace & Newer A/C, Ceramic Tiled Kitchen Flooring, Light Fixtures in all Rooms, Covered Front Porch, Huge Concrete Driveway, Concrete Porch & Sidewalks, Nice Carport. Sits on Large Corner Lot w/ Nice Storage Barn!

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: Lawrence

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190kPrice in $104k198k

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

Neighborhood: Lawrence

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250Rent in $9211270

* 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
Belzer Middle School Middle Regular 1,159 61 4
Lawrence Central High School High Regular 2,331 115 3

Belzer Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 61
4
GreatSchools Rating

Lawrence Central High School

  • Education Level: High
  • # of students: 2,331
  • # of teachers: 115
3
GreatSchools Rating
 

$121,500$148,500$135,000

PURCHASE PRICE

$810$990$900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $900
EXPENSES Loan Payment -$469
Property Tax -$211
Property Insurance -$49
Property Management Fees -$81
CASH FLOW
$90

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.

$135,000

PROJECTED PRICE

$900

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 2.4%
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$50k$100k$150k$200k$250k$300k$350k$400k

PROJECTED ANNUAL CASH FLOW

11530-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k$7.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$41,525

INVESTMENT

$41,525

Down Payment
$33,750
Rehab Estimate
$5,750
Closing Costs
$2,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$469

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $33,750
Loan Amount $101,250
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$9,237

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $900

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $886

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$725
1$7252$8253$8454$9005$1,000
$1,000
RENT COMPS ANALYSIS
  • 4149 Elmhurst Drive Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.79
    •  
  • 3714 North Hartman Drive Indianapolis, IN 1
    • 3 beds 1 baths ∙ 960 Sqft ∙ Built 1954 3 beds 1 baths ∙ 960 Sqft ∙ Built 1954
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $725
    • $0.76
    •  
  • 4002 North Edmondson Ave Indianapolis, IN 2
    • 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
    •  
  • 4322 North Edmondson Avenue Indianapolis, IN 3
    • 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1958
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $845
    • $0.85
    •  
  • 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
Shane Burns
Plat Collective
BESbswy