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5642 Dollar Run Lane Indianapolis, IN 46221

4 Beds 2 Baths 1,374 sqft Built 2006

$175,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $127.37
  • 4 Days on Market
  • MLS # : 21763737
  • Updated Date : 01/29/2021 at 18:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,374 sqft
  • Baths : 2 full
Listing Agent

Re/max Advanced Realty

Listing Agent's Description

Charming 4-bedroom ranch home in a great neighborhood, close to the interstate and just minutes from downtown and the airport. Split floor plan, master bedroom with on suite bathroom and walk-in closet. 3 guest rooms and guest bath, kitchen has a breakfast bar and an eat in area, along with a dining room. Home has all new window in 2020 and exterior door. New hot water heater, carpet and vinyl plank flooring installed in 2019. All new appliances in 2019. Washer and Dryer is excluded. Multiple offers have been received.

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
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$608
Property Tax -$312
Property Insurance -$54
HOA -$17
Property Management Fees -$117
CASH FLOW
$192

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.

$175,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.74%

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

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$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$18,586

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,285

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2953$1,2954$1,3005$1,395
$1,395
RENT COMPS ANALYSIS
  • 5642 Dollar Run Lane Indianapolis, IN 4
    • 4 beds 2 baths ∙ 1,374 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,374 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.95
    •  
  • 5630 Sweet River Dr Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2006
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.87
    •  
  • 5552 Dollar Run Lane Indianapolis, IN 2
    • 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 2007
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.92
    •  
  • 6025 Prairie Meadows Drive Indianapolis, IN 3
    • 4 beds 2 baths ∙ 1,377 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,377 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.94
    •  
  • 5570 Dollar Forge Drive Indianapolis, IN 5
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 2003
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
PROPERTY LISTING DETAILS
Dana Wright
Re/max Advanced Realty
BESbswy