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5643 Cheval Lane Indianapolis, IN 46235

4 Beds 3 Baths 2,110 sqft Built 2004

$190,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $90.05
  • 2 Days on Market
  • MLS # : 21757105
  • Updated Date : 12/12/2020 at 11:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,110 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Home

Listing Agent's Description

Here's a great find in Lawrence Township - a four bedroom home with immediate possession. Super cute kitchen with backsplash and tons of natural light opens to large living room with wood burning fireplace. A formal dining room could be converted to an at home office or study area. Large owner's bedroom features vaulted ceilings, built in shelves and spacious en-suite with walk in closet. Laundry upstairs for added convenience. Great location, just north of Winding Ridge Golf Course. Easy access to shopping, dining, and entertainment. With a community pool, playground and tennis, this home checks a lot of boxes!

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: Winding Ridge

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $87k168k

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

Neighborhood: Winding Ridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250Rent in $9211270

* 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
Oaklandon Elementary School Of Environmental Studies (east Side) Primary Regular 614 33 3
Belzer Middle School Middle Regular 1,159 61 4
Lawrence Central High School High Regular 2,331 115 3

Oaklandon Elementary School Of Environmental Studies (east Side)

  • Education Level: Primary
  • # of students: 614
  • # of teachers: 33
3
GreatSchools Rating

Belzer Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 61
4
GreatSchools Rating

Lawrence Central High School

  • Education Level: High
  • # of students: 2,331
  • # of teachers: 115
3
GreatSchools Rating
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$701
Property Tax -$296
Property Insurance -$68
HOA -$27
Property Management Fees -$135
CASH FLOW
$273

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.

$190,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 4.8%
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$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

9.92

YEARS SAVED

$32,667

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,466

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,365
1$1,3652$1,4953$1,5004$1,5455$1,600
$1,600
RENT COMPS ANALYSIS
  • 5643 Cheval Lane Indianapolis, IN 3
    • 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.71
    •  
  • 11527 Congressional Lane Indianapolis, IN 1
    • 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 2001
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,365
    • $0.70
    •  
  • 11540 High Grass Drive Indianapolis, IN 2
    • 3 beds 3 baths ∙ 2,112 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,112 Sqft ∙ Built 2007
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.71
    •  
  • 4915 Birmingham Drive Indianapolis, IN 4
    • 3 beds 3 baths ∙ 2,258 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,258 Sqft ∙ Built 2005
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.68
    •  
  • 11722 Hamble Drive Indianapolis, IN 5
    • 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2001
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.69
    •  
PROPERTY LISTING DETAILS
Mark Gill
Berkshire Hathaway Home
BESbswy