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5724 North Parker Avenue Indianapolis, IN 46220

3 Beds 2 Baths 2,346 sqft Built 1953

$225,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $95.91
  • 4 Days on Market
  • MLS # : 21765522
  • Updated Date : 02/12/2021 at 13:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,346 sqft
  • Baths : 1 full , 1 half
Listing Agent

Plat Collective

Listing Agent's Description

CHARMING RANCH // Don’t miss this well-maintained 1950s home in North Kessler Manor. Located less than 15 minutes from downtown, 4 minutes from the Broadripple strip, and just blocks from grocery stores & Glendale Town Center. The home presents original hardwood floors throughout, a wood burning fireplace, additional living room area, and a massive unfinished basement. The kitchen is bright with stainless steel appliances and a gas range. Enjoy sitting back by the outdoor fire pit overlooking your large, fenced-in backyard. Furnace 2010 (new inducer motor 2020); Water Heater (2020)

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: Millersville

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200kPrice in $104k205k

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

Neighborhood: Millersville

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q295010001050110011501200125013001350Rent in $9211390

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$782
Property Tax -$418
Property Insurance -$72
Property Management Fees -$140
CASH FLOW
$139

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.

$225,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 4.5%
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-$2.0k$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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$14,021

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,642

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,435
1$1,4352$1,5503$1,7004$1,7255$1,750
$1,750
RENT COMPS ANALYSIS
  • 5724 North Parker Avenue Indianapolis, IN 2
    • 3 beds 2 baths ∙ 2,346 Sqft ∙ Built 1953 3 beds 2 baths ∙ 2,346 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.66
    •  
  • 3108 East 48th Street Indianapolis, IN 1
    • 3 beds 1 baths ∙ 2,002 Sqft ∙ Built 1940 3 beds 1 baths ∙ 2,002 Sqft ∙ Built 1940
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.72
    •  
  • 5845 Brouse Avenue Indianapolis, IN 3
    • 3 beds 2 baths ∙ 2,502 Sqft ∙ Built 1948 3 beds 2 baths ∙ 2,502 Sqft ∙ Built 1948
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.68
    •  
  • 2614 East 57th Street Indianapolis, IN 4
    • 3 beds 2 baths ∙ 2,454 Sqft ∙ Built 1952 3 beds 2 baths ∙ 2,454 Sqft ∙ Built 1952
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.70
    •  
  • 5909 Guilford Indianapolis, IN 5
    • 3 beds 4 baths ∙ 2,508 Sqft ∙ Built 1937 3 beds 4 baths ∙ 2,508 Sqft ∙ Built 1937
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.70
    •  
PROPERTY LISTING DETAILS
Philip Kirk
Plat Collective
BESbswy