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4637 Citation Circle Indianapolis, IN 46237

3 Beds 2 Baths 1,380 sqft Built 1977

$179,900

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $130.36
  • 3 Days on Market
  • MLS # : 21765875
  • Updated Date : 02/13/2021 at 12:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,380 sqft
  • Baths : 2 full
Listing Agent

Simplify Real Estate

Listing Agent's Description

Well maintained full brick ranch with bedrooms and 2 full baths in Franklin township. Spacious great room with catherral ceiling ,corner brick fireplace and a dining room/kitchen combo and fully large fenced backyard!Please schedule to see!

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: I65-South Emerson

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $87k168k

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

Neighborhood: I65-South Emerson

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2800850900950100010501100115012001250Rent in $7941268

* 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
Franklin Central High School High Regular 2,503 110 9

Franklin Central High School

  • Education Level: High
  • # of students: 2,503
  • # of teachers: 110
9
GreatSchools Rating
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$625
Property Tax -$281
Property Insurance -$54
Property Management Fees -$110
CASH FLOW
$150

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.

$179,900

PROJECTED PRICE

$1,220

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.2%
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$100k$200k$300k$400k$500k$600k

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$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$14,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,221

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1653$1,2204$1,2455$1,450
$1,450
RENT COMPS ANALYSIS
  • 4637 Citation Circle Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.88
    •  
  • 5155 Brouse Court Indianapolis, IN 1
    • 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1988 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1988
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.93
    •  
  • 5439 Durango Court Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1979
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,165
    • $0.86
    •  
  • 5801 Somers Drive Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1974
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.83
    •  
  • 5904 Beau Jardin Drive Indianapolis, IN 5
    • 4 beds 3 baths ∙ 1,576 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,576 Sqft ∙ Built 1989
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
PROPERTY LISTING DETAILS
Wendy Zin
Simplify Real Estate
BESbswy