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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Devington
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$32,250
LOAN DETAILS
$369
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $25,000 |
| Loan Amount | $75,000 |
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
-
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
1.765.532.6503
Highgarden Real Estate
