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544 Paddlebrook Drive Danville, IN 46122

3 Beds 2 Baths 1,180 sqft Built 2000

$154,900

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $131.27
  • 4 Days on Market
  • MLS # : 21764458
  • Updated Date : 02/04/2021 at 15:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,180 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Indpls Metro N

Listing Agent's Description

Incredible cash flowing tenant occupied rental in the charming Clear Creek neighborhood in downtown Danville, walking distance to the neighborhood park, and nearby tennis and basketball courts. This well maintained 3 bed 2 bath home includes a new roof, carpet, paint and flooring throughout. Don't miss this fantastic investment opportunity with restaurants and shopping nearby!

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 46122

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k221k

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

Zip Code: 46122

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10301551

* 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
South Elementary School Primary Regular 356 18 7
Danville Community High School High Regular 805 44 7
North Elementary School Primary Regular 564 33 NA

South Elementary School

  • Education Level: Primary
  • # of students: 356
  • # of teachers: 18
7
GreatSchools Rating

Danville Community High School

  • Education Level: High
  • # of students: 805
  • # of teachers: 44
7
GreatSchools Rating

North Elementary School

  • Education Level: Primary
  • # of students: 564
  • # of teachers: 33
NA
GreatSchools Rating
 

$139,410$170,390$154,900

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$538
Property Tax -$216
Property Insurance -$50
HOA -$23
Property Management Fees -$111
CASH FLOW
$293

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.

$154,900

PROJECTED PRICE

$1,230

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.5%
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

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$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,799

INVESTMENT

$46,799

Down Payment
$38,725
Rehab Estimate
$5,750
Closing Costs
$2,324

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$538

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,725
Loan Amount $116,175
See What Happens When You Reinvest Cash Flow

12

YEARS SAVED

$29,429

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,180

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,230
$1,230
RENT COMPS ANALYSIS
  • 544 Paddlebrook Drive Danville, IN 2
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.04
    •  
  • 7 East Fairlane Court Danville, IN 1
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 2003
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jordan Moody
Keller Williams Indpls Metro N
BESbswy