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5878 Oakhaven Drive Greenwood, IN 46142

3 Beds 2 Baths 1,976 sqft Built 2010

$260,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $131.58
  • 4 Days on Market
  • MLS # : 21760661
  • Updated Date : 01/16/2021 at 09:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,976 sqft
  • Baths : 2 full
Listing Agent

Cottingham Realty, Appraisal

Listing Agent's Description

Beautiful, open concept ranch on a corner lot in Center Grove community. All bedrooms have walk in closets. Large, fenced in yard. Come take a look at this adorable, move in ready home.

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 46142

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k221k

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

Zip Code: 46142

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10401551

* 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
Pleasant Grove Elementary School Primary Regular 571 28 7
Center Grove Middle School North Middle Regular 884 50 7
Center Grove High School High Regular 2,455 112 9

Pleasant Grove Elementary School

  • Education Level: Primary
  • # of students: 571
  • # of teachers: 28
7
GreatSchools Rating

Center Grove Middle School North

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 50
7
GreatSchools Rating

Center Grove High School

  • Education Level: High
  • # of students: 2,455
  • # of teachers: 112
9
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$903
Property Tax -$305
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
$28

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.

$260,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 8.07%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$8,892

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,482

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3953$1,4304$1,4955$1,700
$1,700
RENT COMPS ANALYSIS
  • 5878 Oakhaven Drive Greenwood, IN 3
    • 3 beds 2 baths ∙ 1,976 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,976 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.72
    •  
  • 4915 Aquaduct Drive Greenwood, IN 1
    • 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1998
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.76
    •  
  • 4671 Driftwood Lane Greenwood, IN 2
    • 4 beds 3 baths ∙ 1,918 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,918 Sqft ∙ Built 1999
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.73
    •  
  • 5837 Columbia Circle Greenwood, IN 4
    • 4 beds 3 baths ∙ 1,964 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,964 Sqft ∙ Built 2002
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.76
    •  
  • 5771 Columbia Circle Greenwood, IN 5
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2003
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
PROPERTY LISTING DETAILS
Dawn Whitaker
Cottingham Realty, Appraisal
BESbswy