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4631 Everest Drive Westfield, IN 46062

4 Beds 3 Baths 2,546 sqft Built 2010

$299,900

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $117.79
  • 3 Days on Market
  • MLS # : 21763782
  • Updated Date : 01/29/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,546 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Indy Metro Ne

Listing Agent's Description

Updated 4 bedroom home with loft in popular Summit Lakes. Property features Main floor Owner's Suite - Bathroom has dual sinks, garden tub, sep. shower and large walk-in closet. New Vinyl Plank flooring throughout most of main floor. 2 story Great Room with gas fireplace opens to newly remodeled eat-in kitchen. New center island with quartz countertop, bar seating, & black stainless steel appliances. Upstairs boasts flexible loft space, 3 additional bedrooms & second full bath. The large covered patio is perfect for outdoor dining and relaxation. Great cul-de-sac lot with full rear fence and playset. Located near shopping, dining and fantastic Westfield schools. Don't miss this great home!

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: Summit Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k300k

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

Neighborhood: Summit Lakes

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2110012001300140015001600170018001900Rent in $10401990

* 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
Washington Woods Elementary School Primary Regular 391 20 6
Westfield Middle School Middle Regular 1,042 48 7
Westfield High School High Regular 1,934 95 8

Washington Woods Elementary School

  • Education Level: Primary
  • # of students: 391
  • # of teachers: 20
6
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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,042
Property Tax -$468
Property Insurance -$76
HOA -$33
Property Management Fees -$182
CASH FLOW
$219

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.

$299,900

PROJECTED PRICE

$2,020

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.6%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$22,534

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,376

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8203$2,0204$3,495
$3,495
RENT COMPS ANALYSIS
  • 4631 Everest Drive Westfield, IN 3
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.79
    •  
  • 5368 Bruce Boulevard Noblesville, IN 1
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2003
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 1871 Tourmaline Drive Westfield, IN 2
    • 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2001
    LEASED 08/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.66
    •  
  • 1726 Emerald Pines Lane Westfield, IN 4
    • 5 beds 3 baths ∙ 2,584 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,584 Sqft ∙ Built 1997
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.35
    •  
PROPERTY LISTING DETAILS
Kim Alexander
Keller Williams Indy Metro Ne
BESbswy