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6201 Carrie Circle Indianapolis, IN 46237

3 Beds 2 Baths 1,400 sqft Built 1991

$198,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $142.07
  • 3 Days on Market
  • MLS # : 21757802
  • Updated Date : 12/18/2020 at 16:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent

F.c. Tucker Company

Listing Agent's Description

Charming freshly updated 3 BR, 2 Bath ranch featuring open airy floor plan w/ lots of windows and natural light. Great room offers cathedral /vault ceiling open to fully applianced kitchen. Lovely Master BR suite with large WIC, Garden tub & sep shower. Good sized secondary BR's. Spacious utility room, 2 car garage & more on nice Cul de sac lot. Updates include paint throughout, carpet, vinyl, gas range, dishwasher was just installed. Better hurry on this one. Close to schools, shopping and entertainment.

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

Neighborhood: South Franklin

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $104k221k

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

Neighborhood: South Franklin

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250130013501400145015001550Rent in $9211551

* 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
Franklin Central High School High Regular 2,503 110 9

Franklin Central High School

  • Education Level: High
  • # of students: 2,503
  • # of teachers: 110
9
GreatSchools Rating
 

$179,010$218,790$198,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$734
Property Tax -$311
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$102

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.

$198,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,459

INVESTMENT

$58,459

Down Payment
$49,725
Rehab Estimate
$5,750
Closing Costs
$2,984

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,725
Loan Amount $149,175
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$13,645

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,243

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,185
1$1,1852$1,3203$1,3504$1,3955$1,545
$1,545
RENT COMPS ANALYSIS
  • 6201 Carrie Circle Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.94
    •  
  • 7712 Gordon Way Indianapolis, IN 1
    • 3 beds 1 baths ∙ 1,320 Sqft ∙ Built 1980 3 beds 1 baths ∙ 1,320 Sqft ∙ Built 1980
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,185
    • $0.90
    •  
  • 7061 Carrie Drive Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1991
    property image
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.94
    •  
  • 7724 Connie Drive Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1989
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.82
    •  
  • 7526 Ardwell Drive Indianapolis, IN 5
    • 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 1981
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.89
    •  
PROPERTY LISTING DETAILS
John Story
1.317.372.8145
F.c. Tucker Company
BESbswy