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5276 Brassie Drive Indianapolis, IN 46235

4 Beds 3 Baths 2,560 sqft Built 2006

$225,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $87.89
  • 4 Days on Market
  • MLS # : 21758975
  • Updated Date : 12/31/2020 at 17:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,560 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ala Carte Realty

Listing Agent's Description

Attention all Golfers!!! This one owner home is one of a kind it has been beautifully well-maintained with custom moldings on kitchen cabinetry, come see this large circular floor plan with Huge 4 bedrooms and walk in closets in Award-Winning Lawrence Township Schools on the golf course in Winding Ridge! Many upgrades includes Hardie plank laminate wood floors, some updated light fixtures and faucets. HVAC carrier, vaulted ceilings in the master suite with soaking garden tub and separate walk-in shower. Enjoy the huge upstairs laundry room. This home will not last long. Schedule your showings today!

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Winding Ridge

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $87k168k

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

Neighborhood: Winding Ridge

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
Winding Ridge Elementary School Of Inquiry And Performing Arts (east Side) Primary Regular 617 33 3
Belzer Middle School Middle Regular 1,159 61 4
Lawrence Central High School High Regular 2,331 115 3

Winding Ridge Elementary School Of Inquiry And Performing Arts (east Side)

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 33
3
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$830
Property Tax -$351
Property Insurance -$76
HOA -$27
Property Management Fees -$144
CASH FLOW
$172

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.

$225,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 4.8%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$21,067

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,594

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5453$1,5504$1,6005$1,745
$1,745
RENT COMPS ANALYSIS
  • 5276 Brassie Drive Indianapolis, IN 4
    • 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.63
    •  
  • 4151 Denali Court Indianapolis, IN 1
    • 3 beds 3 baths ∙ 2,328 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,328 Sqft ∙ Built 2005
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.58
    •  
  • 4915 Birmingham Drive Indianapolis, IN 2
    • 3 beds 3 baths ∙ 2,258 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,258 Sqft ∙ Built 2005
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.68
    •  
  • 5271 Baysdon Circle Indianapolis, IN 3
    • 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 2001
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.61
    •  
  • 4806 Long Iron Drive Indianapolis, IN 5
    • 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2013
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.62
    •  
PROPERTY LISTING DETAILS
Kimberlyn J. Cannon
Ala Carte Realty
BESbswy