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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $76.81
- 2 Days on Market
- MLS # : 21765013
- Updated Date : 02/06/2021 at 22:44
CONSTRUCTION
- Beds : 3
- Floor Size : 2,342 sqft
- Baths : 2 full , 1 half
Listing Agent
Forthright Real Estate
Listing Agent's Description
Wow! Wonderful and an elegant 3 bedroom/2.5 bathroom home that has a spacious loft! A partial brick front with a covered front porch you can sit on to enjoy the nice cool breeze. Inside has lots of windows for natural light, fresh neutral paint throughout, luxury vinyl plank flooring on the main level, and new carpet on the upper level. This home has an open floor plan with the family room and opened to the kitchen. The kitchen has lovely granite countertops, new stainless steel appliances with a built-in rangehood, lots of cabinets, and a tile backsplash. Enjoy the spacious loft on the upper level with a large master bathroom with walk-in closet. lots of upgrades. Easy access to downtown, 465, & I-70. MUST SEE!
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
Neighborhood: Far East Side
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Far East Side
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,400 |
| EXPENSES | Loan Payment | -$625 |
| Property Tax | -$281 | |
| Property Insurance | -$72 | |
| HOA | -$37 | |
| Property Management Fees | -$126 | |
|
CASH FLOW
$259
|
||
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.
$179,900
PROJECTED PRICE
$1,400
PROJECTED RENT
0.78%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 5.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.45% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$53,424
LOAN DETAILS
$625
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $44,975 |
| Loan Amount | $134,925 |
9.42
YEARS SAVED
$24,810
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,400
LIST RENT -
$0.6
LIST RENT PER SQFT
-
$1,429
COMP ESTIMATED VALUE -
$0.61
COMP AVG. RENT PER SQFT
Comps Range
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- Rent
- Rent Per SQFT
- $1,400
- $0.60
-
11441 Cuyahoga Drive Indianapolis, IN 1
- 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2007
LEASED 02/03/20- Rent
- Rent Per SQFT
- $1,235
- $0.62
-
11042 East Amburg Court Indianapolis, IN 2
- 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 1991
LEASED 09/28/20- Rent
- Rent Per SQFT
- $1,250
- $0.56
-
3941 Planewood Drive Indianapolis, IN 3
- 3 beds 3 baths ∙ 2,250 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,250 Sqft ∙ Built 2006
LEASED 09/21/20- Rent
- Rent Per SQFT
- $1,350
- $0.60
-
4158 Congaree Drive Indianapolis, IN 5
- 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2006
LEASED 10/09/20- Rent
- Rent Per SQFT
- $1,545
- $0.66
PROPERTY LISTING DETAILS
1.317.989.2165
Forthright Real Estate
