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4894 Oakton Way Greenwood, IN 46143

4 Beds 3 Baths 1,758 sqft Built 1995

INVESTimate

$219,900

List Price

$1,620

$1,458 - $1,782

Rent Est.

$230,345  ( +4.75%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $125.09
  • 6 Days on Market
  • MLS # : 21728404
  • Updated Date : 08/23/2020 at 21:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,758 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dawson And Michael Realty, Inc

Listing Agent's Description

Updates abound in this 4 bedroom, 2 and a half bathroom home in Center Grove Schools. New carpet, interior and exterior paint, bathroom sinks, roof, and B-E-A-U-tiful new stamped concrete patio! Updated kitchen with stainless steel appliances and slate back splash! Cathedral ceiling great room with hardwood flooring! Main floor master suite! Come see it before its gone! Hot tub and piano not included.

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

Zip Code: 46143

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k222k

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

Zip Code: 46143

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10401572

* 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
Center Grove Elementary School Primary Regular 759 33 6
Center Grove Middle School Central Middle Regular 979 48 9
Center Grove High School High Regular 2,455 112 9

Center Grove Elementary School

  • Education Level: Primary
  • # of students: 759
  • # of teachers: 33
6
GreatSchools Rating

Center Grove Middle School Central

  • Education Level: Middle
  • # of students: 979
  • # of teachers: 48
9
GreatSchools Rating

Center Grove High School

  • Education Level: High
  • # of students: 2,455
  • # of teachers: 112
9
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$811
Property Tax -$246
Property Insurance -$61
HOA -$20
Property Management Fees -$146
CASH FLOW
$335

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.

$219,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.75%
Maintenance Year (1-5) 8.00%
Vacancy 8.07%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

10.83

YEARS SAVED

$42,652

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,626

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,6203$1,800
$1,800
RENT COMPS ANALYSIS
  • 4894 Oakton Way Greenwood, 2
    • 4 beds 3 baths ∙ 1,758 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,758 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.92
    •  
  • 3450 Oakton Circle Greenwood, 1
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1999
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.81
    •  
  • 4230 Raintree Boulevard Greenwood, 3
    • 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2007
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
PROPERTY LISTING DETAILS
Lance Young
Dawson And Michael Realty, Inc
BESbswy