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4494 Connaught W Drive Plainfield, IN 46168

3 Beds 3 Baths 1,470 sqft Built 1999

$155,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $105.44
  • 3 Days on Market
  • MLS # : 21756006
  • Updated Date : 12/05/2020 at 09:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,470 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Scheetz

Listing Agent's Description

Must see 3 bedroom 2.5 bath home with loft in Plainfield. Located close to shopping, Plainfield Aquatic Center, and Plainfield Trail System, this home is sure to please. The open floor plan on the first floor is great for entertaining, including large family room and well equipped kitchen with matching stainless steel appliances, panty, and half bath. Heading upstairs, the additional loft space is great for flex space or additional family space. The master bedroom is spacious, and has it’s own private bath and large walk in closet. Outside, enjoy warm evenings on your large deck and low maintenance yard. Recent updates include new carpet, new kitchen countertops, and fresh paint throughout. Schedule a showing today to see this great home!

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 46168

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k221k

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

Zip Code: 46168

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10401551

* 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
Central Elementary School Primary Regular 573 29 9
Plainfield Community Middle School Middle Regular 1,277 61 9
Plainfield High School High Regular 1,566 70 8

Central Elementary School

  • Education Level: Primary
  • # of students: 573
  • # of teachers: 29
9
GreatSchools Rating

Plainfield Community Middle School

  • Education Level: Middle
  • # of students: 1,277
  • # of teachers: 61
9
GreatSchools Rating

Plainfield High School

  • Education Level: High
  • # of students: 1,566
  • # of teachers: 70
8
GreatSchools Rating
 

$139,500$170,500$155,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$572
Property Tax -$215
Property Insurance -$56
HOA -$15
Property Management Fees -$108
CASH FLOW
$235

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.

$155,000

PROJECTED PRICE

$1,200

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.2%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$572

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$28,113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,205

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2953$1,3354$1,3955$1,400
$1,400
RENT COMPS ANALYSIS
  • 4494 Connaught W Drive Plainfield, IN 1
    • 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.82
    •  
  • 6578 Largo Lane Plainfield, IN 2
    • 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 2001
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.77
    •  
  • 6590 Largo Lane Plainfield, IN 3
    • 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 2001
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $0.79
    •  
  • 4549 Connaught East Drive Plainfield, IN 4
    • 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 1998
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 4123 Cheltonham Court Plainfield, IN 5
    • 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 2005
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
PROPERTY LISTING DETAILS
Scott A. Lindsay
Century 21 Scheetz
BESbswy