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4310 Cottage Court Indianapolis, IN 46203

4 Beds 2 Baths 1,300 sqft Built 1961

$94,900

List Price

$970

$873 - $1.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $73.00
  • 3 Days on Market
  • MLS # : 21760029
  • Updated Date : 01/15/2021 at 15:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,300 sqft
  • Baths : 1 full , 1 half
Listing Agent

F.c. Tucker Company

Listing Agent's Description

Charming, well-maintained 4 bed, 1.5 bath ranch with attached garage and many updates. Minutes from downtown Indy and interstate access, but in a quiet, peaceful neighborhood. Great corner lot with mature trees and manicured landscaping. Spacious open kitchen flows into dining area and onto expansive living room. Master bedroom has en suite half bath. New roof, vinyl siding and windows in 2006. Newer carpet in some rooms, including living room and some bedrooms. Garage has heater and automatic garage door opener with keypad. Gas oven/range included. Sellers will provide home warranty with full price 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: Christian Park

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160kPrice in $61k168k

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

Neighborhood: Christian Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2650700750800850900950100010501100115012001250Rent in $6321268

* 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
Paul I. Miller School 114 Primary Regular 519 35 2
Paul I. Miller School 114 Middle Regular 519 35 2
Arlington Middle School Middle Unknown NA

Paul I. Miller School 114

  • Education Level: Primary
  • # of students: 519
  • # of teachers: 35
2
GreatSchools Rating

Paul I. Miller School 114

  • Education Level: Middle
  • # of students: 519
  • # of teachers: 35
2
GreatSchools Rating

Arlington Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$85,410$104,390$94,900

PURCHASE PRICE

$873$1,067$970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $970
EXPENSES Loan Payment -$330
Property Tax -$185
Property Insurance -$52
Property Management Fees -$87
CASH FLOW
$316

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.

$94,900

PROJECTED PRICE

$970

PROJECTED RENT

1.02%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.45%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$30,899

INVESTMENT

$30,899

Down Payment
$23,725
Rehab Estimate
$5,750
Closing Costs
$1,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$330

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $23,725
Loan Amount $71,175
See What Happens When You Reinvest Cash Flow

15.83

YEARS SAVED

$25,300

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $970

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,037

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$8753$9704$9995$1,075
$1,075
RENT COMPS ANALYSIS
  • 4310 Cottage Court Indianapolis, IN 3
    • 4 beds 2 baths ∙ 1,300 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,300 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $970
    • $0.75
    •  
  • 1930 South Grant Avenue Indianapolis, IN 1
    • 4 beds 1 baths ∙ 1,152 Sqft ∙ Built 1950 4 beds 1 baths ∙ 1,152 Sqft ∙ Built 1950
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.74
    •  
  • 1209 South Spencer Avenue Indianapolis, IN 2
    • 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1950
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.77
    •  
  • 4130 Hoyt Avenue Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1954
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $999
    • $0.83
    •  
  • 4825 Hyperion Court Indianapolis, IN 5
    • 4 beds 2 baths ∙ 1,268 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,268 Sqft ∙ Built 1967
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $0.85
    •  
PROPERTY LISTING DETAILS
Megan Kelly
F.c. Tucker Company
BESbswy