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5438 Pappas Drive Indianapolis, IN 46237

3 Beds 2 Baths 1,564 sqft Built 1973

$160,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $102.30
  • 3 Days on Market
  • MLS # : 21757428
  • Updated Date : 12/19/2020 at 05:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,564 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Indy Metro S

Listing Agent's Description

Well cared for family home that has had been updated with new gray laminate flooring in kitchen, hallway and entry. Exterior has been updated with fresh paint on shutter/porch and new gutters in 2014. New interior paint in 2020, new flooring in bathrooms and new vanity downstairs and toilet. Home has large covered porch for those lazy summer evenings, and deck to grill out in back. This home is great buy and perfect for that someone special for the New Year.

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: I65-South Emerson

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $87k168k

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

Neighborhood: I65-South Emerson

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2800850900950100010501100115012001250Rent in $7941268

* 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
Franklin Central High School High Regular 2,503 110 9

Franklin Central High School

  • Education Level: High
  • # of students: 2,503
  • # of teachers: 110
9
GreatSchools Rating
 

$144,000$176,000$160,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$590
Property Tax -$250
Property Insurance -$57
Property Management Fees -$116
CASH FLOW
$276

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.

$160,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.2%
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$100k$200k$300k$400k$500k$600k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,150

INVESTMENT

$48,150

Down Payment
$40,000
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$32,054

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,306

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,165
1$1,1652$1,2003$1,2454$1,2905$1,400
$1,400
RENT COMPS ANALYSIS
  • 5438 Pappas Drive Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.82
    •  
  • 5439 Durango Court Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1979
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,165
    • $0.86
    •  
  • 5739 Ensenada Avenue Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1980
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.80
    •  
  • 5801 Somers Drive Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1974
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.83
    •  
  • 5549 Sleet Drive Indianapolis, IN 5
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1978
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
PROPERTY LISTING DETAILS
Todd L. Cook
1.317.494.1583
Keller Williams Indy Metro S
BESbswy