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5835 Sylvan Drive Indianapolis, IN 46228

3 Beds 2 Baths 1,376 sqft Built 1961

$175,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $127.18
  • 3 Days on Market
  • MLS # : 21752129
  • Updated Date : 11/13/2020 at 11:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,376 sqft
  • Baths : 2 full
Listing Agent

Stonegate Real Estate Group

Listing Agent's Description

Wonderful 3 bedroom 2 bath all brick home. This home has been extensively redone with the following: New roof, cutters and soffits. New well, new water softener, new windows, new carpet throughout, new flooring in the kitchen and bathrooms, new large deck, and the whole home has been painted. This master bedroom has a large walk-in closet with french doors to the deck. There is a large bonus room off the master that could be used as a bedroom, office, nursery or sitting room. The Master could be used as a family room.There is a large out building on the property that has electricity. There are two other nice bedrooms, both with good closets. There is a two car attached garage.

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: Snacks - Guion Creek

NeighborhoodNIR Market*CityMarket2010Year20002019105k110k115k120k125k130k135k140k145k150k155k160k165kPrice in $104k168k

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

Neighborhood: Snacks - Guion Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250Rent in $9211282

* 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
Crooked Creek Elementary School Primary Regular 700 31 5
Westlane Middle School Middle Regular 906 52 3
North Central High School High Regular 3,518 182 7

Crooked Creek Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 31
5
GreatSchools Rating

Westlane Middle School

  • Education Level: Middle
  • # of students: 906
  • # of teachers: 52
3
GreatSchools Rating

North Central High School

  • Education Level: High
  • # of students: 3,518
  • # of teachers: 182
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$646
Property Tax -$312
Property Insurance -$54
Property Management Fees -$107
CASH FLOW
$71

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

$1,190

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 4.6%
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

PROJECTED ANNUAL CASH FLOW

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

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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$9,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,176

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,015
1$1,0152$1,1253$1,1904$1,2355$1,345
$1,345
RENT COMPS ANALYSIS
  • 5835 Sylvan Drive Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.86
    •  
  • 5844 Sylvan Drive Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1958
    property image
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,015
    • $0.89
    •  
  • 2616 Lincoln Lane Indianapolis, IN 2
    • 3 beds 1 baths ∙ 1,274 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,274 Sqft ∙ Built 1958
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.88
    •  
  • 4913 Victoria Road Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1958
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,235
    • $0.82
    •  
  • 4801 North Eden Court Indianapolis, IN 5
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1974
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.83
    •  
PROPERTY LISTING DETAILS
Kathleen D. Lawrence
Stonegate Real Estate Group
BESbswy