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418 Vernon Place Westfield, IN 46074

3 Beds 3 Baths 1,745 sqft Built 2003

$219,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $125.50
  • 3 Days on Market
  • MLS # : 21760775
  • Updated Date : 01/16/2021 at 12:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,745 sqft
  • Baths : 2 full , 1 half
Listing Agent

F.c. Tucker Company

Listing Agent's Description

Great 3 bedroom, 2.5 bathroom with loft in Countryside! New roof 2018, Water softener 2018, dishwasher 2018, new dryer 2018, new refrigerator in 2018, new tile floor in kitchen, laundry room, dining room & half bathroom! Refrigerator 2016, new water heater (2021) and laminate flooring 2015. New paint throughout. Kitchen with 42" cabinets over looks the dining room and family room! Family room has a wood burning fireplace. Master bedroom has cathedral ceiling, walk in closet and a ceiling fan. Master bathroom has dual sinks! Countryside has a pool, club house, walking trails, basketball & tennis courts, and much more! Just minutes from restaurants, shopping & everything downtown Westfield has to offer!

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: Countryside

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k314k

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

Neighborhood: Countryside

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2120014001600180020002200240026002800Rent in $10402820

* 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
Oak Trace Elementary School Primary Regular 579 26 7
Westfield Middle School Middle Regular 1,042 48 7
Westfield High School High Regular 1,934 95 8

Oak Trace Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 26
7
GreatSchools Rating

Westfield Middle School

  • Education Level: Middle
  • # of students: 1,042
  • # of teachers: 48
7
GreatSchools Rating

Westfield High School

  • Education Level: High
  • # of students: 1,934
  • # of teachers: 95
8
GreatSchools Rating
 

$197,100$240,900$219,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$761
Property Tax -$339
Property Insurance -$61
HOA -$42
Property Management Fees -$131
CASH FLOW
$126

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.

$219,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.07%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

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$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$761

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$12,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,562

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3753$1,4254$1,4605$1,650
$1,650
RENT COMPS ANALYSIS
  • 418 Vernon Place Westfield, IN 4
    • 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.84
    •  
  • 429 East Pine Ridge Drive Westfield, IN 1
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1997
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.98
    •  
  • 16608 Brownstone Court Westfield, IN 2
    • 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 2003
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.80
    •  
  • 16967 Southall Drive Westfield, IN 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2007
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.95
    •  
  • 941 Warrington Avenue Westfield, IN 5
    • 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2007
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
PROPERTY LISTING DETAILS
Brian Wignall
F.c. Tucker Company
BESbswy