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5235 Bobs Court Greenwood, IN 46143

3 Beds 3 Baths 1,540 sqft Built 1984

$214,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $139.55
  • 5 Days on Market
  • MLS # : 21751898
  • Updated Date : 11/13/2020 at 10:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Indy Metro S

Listing Agent's Description

Adorable, updated home in Center Grove on over 1/2 acre cul-de-sac lot! Wow. Remodeled floor plan opens up the kitchen and living room. This home has plenty of privacy in the tree-lined yard. Fencing is complete but does not extend to full yard boundaries. Two great patios: one paver patio and one stamped concrete with hot tub that stays! Recent Improvements: NEW Roof (2020), interior & exterior paint (2020), new wood-look tile flooring in dining, kitchen, and family room (2019), a Tempur-Pedic pad under new carpet in living room (2019), plus new A/C (2018). Additional updates and upgrades throughout the home. You'll have to see it in person to really appreciate this great property!

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
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$793
Property Tax -$242
Property Insurance -$57
Property Management Fees -$133
CASH FLOW
$255

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.

$214,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.8%
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$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$33,387

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,324

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3453$1,480
$1,480
RENT COMPS ANALYSIS
  • 5235 Bobs Court Greenwood, IN 3
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.96
    •  
  • 4642 Welton Street Greenwood, IN 1
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1999
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.91
    •  
  • 3450 Oakton Circle Greenwood, IN 2
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1999
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.81
    •  
PROPERTY LISTING DETAILS
Tonda Hoagland
Keller Williams Indy Metro S
BESbswy