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5361 Burgess Avenue Indianapolis, IN 46219

3 Beds 1 Baths 1,074 sqft Built 1964

$114,900

List Price

$950

$855 - $1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $106.98
  • 6 Days on Market
  • MLS # : 21765766
  • Updated Date : 02/17/2021 at 17:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,074 sqft
  • Baths : 1 full
Listing Agent

Re/max Advanced Realty

Listing Agent's Description

Spacious, updated home with large lot that's ready for the next investor to take the reigns. Located on the southern edge of historic Irvington, this property is ready to transfer portfolios with tenants in place through August. Updated throughout over the past few years, there isn't much to do but collect rents. Easy to maintain exterior and an interior layout that's welcoming to all, this is a simple choice for the right buyer looking for a great property to hold on to for years to come.

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PRICE & RENT TRENDS

Neighborhood: Irvington

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $87k168k

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

Neighborhood: Irvington

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7441268

* 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
Arlington Middle School Middle Unknown NA
Arlington Middle School Middle Unknown NA

Arlington Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Arlington Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$103,410$126,390$114,900

PURCHASE PRICE

$855$1,045$950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $950
EXPENSES Loan Payment -$399
Property Tax -$220
Property Insurance -$48
Property Management Fees -$86
CASH FLOW
$198

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.

$114,900

PROJECTED PRICE

$950

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.9%
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$50k$100k$150k$200k$250k$300k$350k$400k

PROJECTED ANNUAL CASH FLOW

11530$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k$7.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$36,199

INVESTMENT

$36,199

Down Payment
$28,725
Rehab Estimate
$5,750
Closing Costs
$1,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$399

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $28,725
Loan Amount $86,175
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$18,333

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $950

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $983

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$795
1$7952$9003$9504$9505$999
$999
RENT COMPS ANALYSIS
  • 5361 Burgess Avenue Indianapolis, IN 4
    • 3 beds 1 baths ∙ 1,074 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,074 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.88
    •  
  • 4334 East Naomi Street Indianapolis, IN 1
    • 3 beds 1 baths ∙ 840 Sqft ∙ Built 1948 3 beds 1 baths ∙ 840 Sqft ∙ Built 1948
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $795
    • $0.95
    •  
  • 463 South Arlington Indianapolis, IN 2
    • 3 beds 1 baths ∙ 960 Sqft ∙ Built 1961 3 beds 1 baths ∙ 960 Sqft ∙ Built 1961
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.94
    •  
  • 5312 East Burgess Avenue Indianapolis, IN 3
    • 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1969
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.94
    •  
  • 4130 Hoyt Avenue Indianapolis, IN 5
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1954
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $999
    • $0.83
    •  
PROPERTY LISTING DETAILS
Josh D. Latham
Re/max Advanced Realty
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21765766
Last Updated: 02/17/2021
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