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4468 Barnor Drive Indianapolis, IN 46226

3 Beds 2 Baths 1,680 sqft Built 1960

$99,500

List Price

$1,030

$927 - $1.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $59.23
  • 3 Days on Market
  • MLS # : 21752240
  • Updated Date : 11/13/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent

Dal Sand

Listing Agent's Description

Nice 3 bedroom, 2 full bath tri-level home and fenced rear with mini barn. Very nice home, just needs a little TLC and lots of furnishing and clothing inside. Imagine what you can do with this open floor plan home located at the entrance of a culdesac.

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
 

$89,550$109,450$99,500

PURCHASE PRICE

$927$1,133$1,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,030
EXPENSES Loan Payment -$367
Property Tax -$205
Property Insurance -$60
Property Management Fees -$93
CASH FLOW
$306

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.

$99,500

PROJECTED PRICE

$1,030

PROJECTED RENT

1.04%

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$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$32,118

INVESTMENT

$32,118

Down Payment
$24,875
Rehab Estimate
$5,750
Closing Costs
$1,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$367

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $24,875
Loan Amount $74,625
See What Happens When You Reinvest Cash Flow

15.17

YEARS SAVED

$29,225

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,030

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,113

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,0303$1,0954$1,1005$1,295
$1,295
RENT COMPS ANALYSIS
  • 4468 Barnor Drive Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,030
    • $0.61
    •  
  • 4129 Flamingo West Drive Indianapolis, IN 1
    • 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 1958
    property image
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.62
    •  
  • 6221 East 43rd Street Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1960
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.59
    •  
  • 5207 Moonlight Drive Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1962
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.72
    •  
  • 5319 Daniel Drive Indianapolis, IN 5
    • 4 beds 2 baths ∙ 1,797 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,797 Sqft ∙ Built 1961
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.72
    •  
PROPERTY LISTING DETAILS
Sandra M. Daley
Dal Sand
BESbswy