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56 Hilltop Farms Boulevard New Whiteland, IN 46184

3 Beds 2 Baths 986 sqft Built 2011

$154,900

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $157.10
  • 3 Days on Market
  • MLS # : 21770614
  • Updated Date : 03/13/2021 at 12:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 986 sqft
  • Baths : 2 full
Listing Agent

Ferris Property Group

Listing Agent's Description

Awesome ranch home at a great price! Open concept main level, with a terrific split bedroom floor plan for maximum privacy! Large great room connects beautifully with eat-in kitchen and pantry! Master bedroom with en suite, new shower, and walk-in closet! Washer and dryer included! And it's all situated on an ideal-sized lot--enjoy birds, frogs, and turtles at the edge of the community pond! Easy access to US-31, IN-135, and I-65! Don't miss it!

SEE MORE

PRICE & RENT TRENDS

Zip Code: 46184

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $82k168k

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

Zip Code: 46184

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210001020104010601080110011201140116011801200122012401260Rent in $9991270

* 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
Break-o-day Elementary School Primary Regular 515 25 6
Clark Pleasant Middle School Middle Regular 988 46 8
Whiteland Community High School High Regular 1,767 69 6

Break-o-day Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 25
6
GreatSchools Rating

Clark Pleasant Middle School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 46
8
GreatSchools Rating

Whiteland Community High School

  • Education Level: High
  • # of students: 1,767
  • # of teachers: 69
6
GreatSchools Rating
 

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

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$538
Property Tax -$211
Property Insurance -$46
HOA -$8
Property Management Fees -$98
CASH FLOW
$188

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

$1,090

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 7.0%
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

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$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 35% 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

9.25

YEARS SAVED

$20,121

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $964

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,045
1$1,0452$1,0903$1,1504$1,2005$1,395
$1,395
RENT COMPS ANALYSIS
  • 56 Hilltop Farms Boulevard New Whiteland, IN 2
    • 3 beds 2 baths ∙ 986 Sqft ∙ Built 2011 3 beds 2 baths ∙ 986 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $1.11
    •  
  • 101 Meadow Creek Boulevard Whiteland, IN 1
    • 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1993 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1993
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,045
    • $0.97
    •  
  • 2517 Harvest Moon Drive Greenwood, IN 3
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 2001
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.94
    •  
  • 1185 Dark Star Court New Whiteland, IN 4
    • 3 beds 2 baths ∙ 1,249 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,249 Sqft ∙ Built 2012
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.96
    •  
  • 829 Jack Pine Drive Whiteland, IN 5
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 2006
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.04
    •  
PROPERTY LISTING DETAILS
Terry Waggoner
Ferris Property Group
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21770614
Last Updated: 03/13/2021
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