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4729 Normal Avenue Indianapolis, IN 46226

3 Beds 1 Baths 928 sqft Built 1964

$112,000

List Price

$830

$747 - $913

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $120.69
  • 28 Days on Market
  • MLS # : 21760095
  • Updated Date : 02/06/2021 at 00:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 928 sqft
  • Baths : 1 full
Listing Agent

The Modglin Group

Listing Agent's Description

Don't let this completely updated home pass you by. This home has been recently updated with all new flooring, new kitchen, new bathroom, new furnace and air conditioning, new water heater and much more.

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lawrence

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190kPrice in $104k198k

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

Neighborhood: Lawrence

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250Rent in $9211270

* 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
Brook Park Elementary School Of Environmental Studies (west Side) Primary Regular 650 36 2
Belzer Middle School Middle Regular 1,159 61 4
Lawrence Central High School High Regular 2,331 115 3

Brook Park Elementary School Of Environmental Studies (west Side)

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 36
2
GreatSchools Rating

Belzer Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 61
4
GreatSchools Rating

Lawrence Central High School

  • Education Level: High
  • # of students: 2,331
  • # of teachers: 115
3
GreatSchools Rating
 

$100,800$123,200$112,000

PURCHASE PRICE

$747$913$830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $830
EXPENSES Loan Payment -$389
Property Tax -$175
Property Insurance -$45
Property Management Fees -$75
CASH FLOW
$147

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.

$112,000

PROJECTED PRICE

$830

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 2.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
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$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k$7.0k

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$35,430

INVESTMENT

$35,430

Down Payment
$28,000
Rehab Estimate
$5,750
Closing Costs
$1,680

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $28,000
Loan Amount $84,000
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$14,700

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $830

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $724

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$830
1$8302$8453$8654$8755$915
$915
RENT COMPS ANALYSIS
  • 4729 Normal Avenue Indianapolis, IN 1
    • 3 beds 1 baths ∙ 928 Sqft ∙ Built 1964 3 beds 1 baths ∙ 928 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $830
    • $0.89
    •  
  • 4303 Meadowlark Court Indianapolis, IN 2
    • 3 beds 1 baths ∙ 1,073 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,073 Sqft ∙ Built 1962
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $845
    • $0.79
    •  
  • 4403 Dubarry Road Indianapolis, IN 3
    • 4 beds 1 baths ∙ 1,152 Sqft ∙ Built 1962 4 beds 1 baths ∙ 1,152 Sqft ∙ Built 1962
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $865
    • $0.75
    •  
  • 8207 East 50th Street Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1958
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.79
    •  
  • 4834 Kenyon Drive Lawrence, IN 5
    • 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1954
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $915
    • $0.79
    •  
PROPERTY LISTING DETAILS
Joshua Groh
The Modglin Group
BESbswy