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4338 Kenmore Road Indianapolis, IN 46226

4 Beds 2 Baths 1,300 sqft Built 1959

$85,000

List Price

$920

$828 - $1K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1959
  • Price/Sqft : $65.38
  • 5 Days on Market
  • MLS # : 21748861
  • Updated Date : 11/02/2020 at 13:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,300 sqft
  • Baths : 2 full
Listing Agent

No Limit Real Estate, Llc

Listing Agent's Description

Brick ranch in popular Lawrence Township. 4 bedroom 2 bath Currently rented on month to month basis paying $700 per month.

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: Devington

NeighborhoodNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160kPrice in $56k168k

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

Neighborhood: Devington

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2650700750800850900950100010501100115012001250Rent in $6411268

* 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
Robert Lee Frost School 106 Primary Regular 350 24 3
Robert Lee Frost School 106 Middle Regular 350 24 3
Arlington Middle School Middle Unknown NA

Robert Lee Frost School 106

  • Education Level: Primary
  • # of students: 350
  • # of teachers: 24
3
GreatSchools Rating

Robert Lee Frost School 106

  • Education Level: Middle
  • # of students: 350
  • # of teachers: 24
3
GreatSchools Rating

Arlington Middle School

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

$76,500$93,500$85,000

PURCHASE PRICE

$828$1,012$920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $920
EXPENSES Loan Payment -$314
Property Tax -$164
Property Insurance -$52
Property Management Fees -$83
CASH FLOW
$308

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.

$85,000

PROJECTED PRICE

$920

PROJECTED RENT

1.08%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 1.8%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$28,275

INVESTMENT

$28,275

Down Payment
$21,250
Rehab Estimate
$5,750
Closing Costs
$1,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$314

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $21,250
Loan Amount $63,750
See What Happens When You Reinvest Cash Flow

16.5

YEARS SAVED

$27,543

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $920

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $975

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$825
1$8252$8453$9154$9205$1,000
$1,000
RENT COMPS ANALYSIS
  • 4338 Kenmore Road Indianapolis, IN 4
    • 4 beds 2 baths ∙ 1,300 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,300 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $920
    • $0.71
    •  
  • 4002 North Edmondson Ave Indianapolis, IN 1
    • 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
    •  
  • 6712 East 46th Street Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1954
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $845
    • $0.70
    •  
  • 4834 Kenyon Drive Lawrence, IN 3
    • 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1954
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $915
    • $0.79
    •  
  • 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
Charlene Gaard
No Limit Real Estate, Llc
BESbswy