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5826 East 44th Street Indianapolis, IN 46226

3 Beds 2 Baths 2,184 sqft Built 1955

$100,000

List Price

$950

$855 - $1K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $45.79
  • 2 Days on Market
  • MLS # : 21757104
  • Updated Date : 12/12/2020 at 13:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,184 sqft
  • Baths : 1 full , 1 half
Listing Agent

Highgarden Real Estate

Listing Agent's Description

3-Bedroom Ranch with a full basement on Indy's Eastside! The spacious kitchen features brand new Stainless Steel appliances, new cabinets, and countertops. Hardwood floors and vaulted ceilings are some of the amazing features of this home. Huge private yard surrounded with mature trees. Roof is 5 years old, 2019 HVAC & water heater, and brand new Vinyl windows throughout. Close Proximity to Shopping, Parks, Libraries, & More. Great price for a move-in ready home with some minor cosmetic updates needed, but with this price including a FULL basement, the possibilities are endless!

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: Devington

NeighborhoodNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160kPrice in $56k168k

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

Neighborhood: Devington

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2650700750800850900950100010501100115012001250Rent in $6411268

* 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
Robert Lee Frost School 106 Primary Regular 350 24 3
Robert Lee Frost School 106 Middle Regular 350 24 3
Arlington Middle School Middle Unknown NA

Robert Lee Frost School 106

  • Education Level: Primary
  • # of students: 350
  • # of teachers: 24
3
GreatSchools Rating

Robert Lee Frost School 106

  • Education Level: Middle
  • # of students: 350
  • # of teachers: 24
3
GreatSchools Rating

Arlington Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$90,000$110,000$100,000

PURCHASE PRICE

$855$1,045$950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $950
EXPENSES Loan Payment -$369
Property Tax -$193
Property Insurance -$69
Property Management Fees -$86
CASH FLOW
$234

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.

$100,000

PROJECTED PRICE

$950

PROJECTED RENT

0.95%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 1.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.45%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$50k$100k$150k$200k$250k$300k$350k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$32,250

INVESTMENT

$32,250

Down Payment
$25,000
Rehab Estimate
$5,750
Closing Costs
$1,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$369

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $25,000
Loan Amount $75,000
See What Happens When You Reinvest Cash Flow

12.67

YEARS SAVED

$24,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $950

    LIST RENT
  • $0.43

    LIST RENT PER SQFT
  • $966

    COMP ESTIMATED VALUE
  • $0.44

    COMP AVG. RENT PER SQFT
Comps Range
$825
1$8252$8753$9004$9505$1,050
$1,050
RENT COMPS ANALYSIS
  • 5826 East 44th Street Indianapolis, IN 4
    • 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 1955 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.43
    •  
  • 3814 North Arlington Avenue Indianapolis, IN 1
    • 3 beds 1 baths ∙ 2,080 Sqft ∙ Built 1952 3 beds 1 baths ∙ 2,080 Sqft ∙ Built 1952
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $825
    • $0.40
    •  
  • 5945 East 39th Street Indianapolis, IN 2
    • 3 beds 1 baths ∙ 2,080 Sqft ∙ Built 1952 3 beds 1 baths ∙ 2,080 Sqft ∙ Built 1952
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.42
    •  
  • 6147 East 40th Street Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1959
    LEASED 07/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.46
    •  
  • 4416 North Lesley Avenue Indianapolis, IN 5
    • 3 beds 1 baths ∙ 2,160 Sqft ∙ Built 1958 3 beds 1 baths ∙ 2,160 Sqft ∙ Built 1958
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.49
    •  
PROPERTY LISTING DETAILS
Shannon Gilbert
1.765.532.6503
Highgarden Real Estate
BESbswy