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5537 Milhouse Road Indianapolis, IN 46221

3 Beds 2 Baths 1,676 sqft Built 1979

$179,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $107.34
  • 3 Days on Market
  • MLS # : 21765714
  • Updated Date : 02/13/2021 at 21:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,676 sqft
  • Baths : 1 full , 1 half
Listing Agent

Broker Direct Realty, Llc

Listing Agent's Description

Beautifully updates and remodeled 3 Bdrm. 1.5 Bath home. Appliances in kitchen stay.

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

Neighborhood: Valley Mills

NeighborhoodNIR Market*CityMarket2010Year20002019100k105k110k115k120k125k130k135k140k145k150k155k160k165kPrice in $98k168k

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

Neighborhood: Valley Mills

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7301270

* 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
Decatur Middle School Middle Regular 952 52 3
Decatur Central High School High Regular 1,690 86 3

Decatur Middle School

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 52
3
GreatSchools Rating

Decatur Central High School

  • Education Level: High
  • # of students: 1,690
  • # of teachers: 86
3
GreatSchools Rating
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$625
Property Tax -$321
Property Insurance -$59
Property Management Fees -$126
CASH FLOW
$269

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.

$179,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 5.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$27,282

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,462

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,065
1$1,0652$1,3953$1,4004$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 5537 Milhouse Road Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
  • 6326 Kellum Drive Indianapolis, IN 1
    • 4 beds 2 baths ∙ 1,336 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,336 Sqft ∙ Built 1980
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,065
    • $0.80
    •  
  • 6452 Cradle River Drive Indianapolis, IN 2
    • 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1999
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.91
    •  
  • 5835 Pemberly Drive Indianapolis, IN 4
    • 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 1979
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 5150 Emmert Drive Indianapolis, IN 5
    • 4 beds 3 baths ∙ 1,748 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,748 Sqft ∙ Built 1998
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
PROPERTY LISTING DETAILS
Lori Summers
Broker Direct Realty, Llc
BESbswy