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6163 Sugar Maple Drive Zionsville, IN 46077

3 Beds 2 Baths 2,718 sqft Built 2013

$324,900

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $119.54
  • 81 Days on Market
  • MLS # : 21736725
  • Updated Date : 11/19/2020 at 10:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,718 sqft
  • Baths : 2 full
Listing Agent

United Real Estate Indpls

Listing Agent's Description

Beautiful open floor plan. Covered porch leads to Leaded Glass entry door. 3 bdrm, 2 full bath. 9 ft ceilings. Gourmet kitchen, granite counter tops, huge center island with sink. S.S. Double ovens, electric induction top(seller will leave the cooking pots), refrigerator, dishwasher, microwave. Walk-in pantry. Fireplace in large G. R. Office or formal dining room. Finished bonus room upstairs. Deck in back and Extensive landscaping.

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 46077

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k392k

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

Zip Code: 46077

ZipNIR Market*CityMarket2010Year2000 Q32019 Q212001400160018002000220024002600Rent in $10402682

* 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
Boone Meadow Elementary School Primary Regular 378 22 10
Zionsville West Middle School Middle Regular 890 51 9
Zionsville Community High School High Regular 1,830 82 10

Boone Meadow Elementary School

  • Education Level: Primary
  • # of students: 378
  • # of teachers: 22
10
GreatSchools Rating

Zionsville West Middle School

  • Education Level: Middle
  • # of students: 890
  • # of teachers: 51
9
GreatSchools Rating

Zionsville Community High School

  • Education Level: High
  • # of students: 1,830
  • # of teachers: 82
10
GreatSchools Rating
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,199
Property Tax -$535
Property Insurance -$80
HOA -$59
Property Management Fees -$195
CASH FLOW
$102

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 19% of earned rent to cover both maintenance and periods of vacancy.

$324,900

PROJECTED PRICE

$2,170

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.91%
Appreciation Year (1-5) 3.1%
Maintenance Year (1-5) 8.00%
Vacancy 11.18%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$10,560

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,215

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,1703$2,2004$2,3505$2,750
$2,750
RENT COMPS ANALYSIS
  • 6163 Sugar Maple Drive Zionsville, IN 2
    • 3 beds 2 baths ∙ 2,718 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,718 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.80
    •  
  • 6683 Amherst Way Zionsville, IN 1
    • 3 beds 3 baths ∙ 2,573 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,573 Sqft ∙ Built 2005
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
  • 6255 Canterbury Drive Zionsville, IN 3
    • 4 beds 3 baths ∙ 2,889 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,889 Sqft ∙ Built 2005
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 6314 Silver Leaf Drive Zionsville, IN 4
    • 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 2016
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.82
    •  
  • 6727 Regents Park Drive Zionsville, IN 5
    • 3 beds 4 baths ∙ 2,934 Sqft ∙ Built 2012 3 beds 4 baths ∙ 2,934 Sqft ∙ Built 2012
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.94
    •  
PROPERTY LISTING DETAILS
G. Rita Spidel
United Real Estate Indpls
BESbswy