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5929 West Mooresville Road Indianapolis, IN 46221

3 Beds 2 Baths 1,412 sqft Built 1962

$165,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $116.86
  • 3 Days on Market
  • MLS # : 21764515
  • Updated Date : 02/12/2021 at 16:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,412 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Indy Metro S

Listing Agent's Description

This meticulously maintained solid brick ranch has 3 bedrooms and 1.5 baths, perfect for any growing family. The open kitchen entails a plethora of cabinet space for all your storing needs! Additional features include the spacious bonus room that leads outside and a large enclosed back porch where you can enjoy the breeze while you sip your favorite beverage. Sitting on half an acre this home offers more than enough space for kids/pets to run and play. Also included is a two-car garage and a 16x20 storage shed with electricity. What else are you waiting for? This cozy residence is waiting just for you!

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: Valley Mills

NeighborhoodNIR Market*CityMarket2010Year20002019100k105k110k115k120k125k130k135k140k145k150k155k160k165kPrice in $98k168k

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

Neighborhood: Valley Mills

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7301270

* 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
Decatur Middle School Middle Regular 952 52 3
Decatur Central High School High Regular 1,690 86 3

Decatur Middle School

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 52
3
GreatSchools Rating

Decatur Central High School

  • Education Level: High
  • # of students: 1,690
  • # of teachers: 86
3
GreatSchools Rating
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$573
Property Tax -$295
Property Insurance -$54
Property Management Fees -$106
CASH FLOW
$152

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.

$165,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 5.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$573

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$14,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,292

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,0503$1,0994$1,1805$1,195
$1,195
RENT COMPS ANALYSIS
  • 5929 West Mooresville Road Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.84
    •  
  • 4335 South Lynhurst Drive Indianapolis, IN 1
    • 4 beds 2 baths ∙ 1,152 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,152 Sqft ∙ Built 1973
    property image
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.86
    •  
  • 4526 Phoenix Drive Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,084 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,084 Sqft ∙ Built 1979
    property image
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.97
    •  
  • 4901 Oaknoll Drive Indianapolis, IN 3
    • 3 beds 1 baths ∙ 1,148 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,148 Sqft ∙ Built 1956
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,099
    • $0.96
    •  
  • 6333 Granner Drive Indianapolis, IN 5
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1977
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.87
    •  
PROPERTY LISTING DETAILS
Scott A. Smith
1.317.893.1622
Keller Williams Indy Metro S
BESbswy