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6318 Allisonville Road Indianapolis, IN 46220

3 Beds 1 Baths 2,644 sqft Built 1949

$240,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $90.77
  • 7 Days on Market
  • MLS # : 21758437
  • Updated Date : 12/29/2020 at 15:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,644 sqft
  • Baths : 1 full
Listing Agent

F.c. Tucker Company

Listing Agent's Description

Midtown Limestone Ranch sitting on almost an acre-sized lot with NO HOA. Located in the highly sought-after Broadripple area. Large backyard with covered back porch, outdoor grill, & storage shed. Recent updates include Furnace, A/C Unit, Plumbing, Garage Door, and much more! See Home Facts & Features attachment for complete list. Full basement completely waterproofed and ready to finish, with 2 added egress windows and 7 glass block windows, 3 of which have breeze vents. Attached 2 car garage with Container Store Organization System, and enclosed breezeway leading from garage to home. Great school systems, & walking distance to new Nickel Plate trail & trail to Broadripple Park & DT Broadripple. Come see this quaint home for yourself!

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: Allisonville

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k279k

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

Neighborhood: Allisonville

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2100011001200130014001500160017001800190020002100Rent in $9212125

* 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
John Strange Elementary School Primary Regular 633 29 7
Eastwood Middle School Middle Regular 835 47 4
North Central High School High Regular 3,518 182 7

John Strange Elementary School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 29
7
GreatSchools Rating

Eastwood Middle School

  • Education Level: Middle
  • # of students: 835
  • # of teachers: 47
4
GreatSchools Rating

North Central High School

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

$216,000$264,000$240,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$886
Property Tax -$437
Property Insurance -$78
Property Management Fees -$163
CASH FLOW
$246

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.

$240,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.3%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$27,540

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,009

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7253$1,8104$2,500
$2,500
RENT COMPS ANALYSIS
  • 6318 Allisonville Road Indianapolis, IN 3
    • 3 beds 1 baths ∙ 2,644 Sqft ∙ Built 1949 3 beds 1 baths ∙ 2,644 Sqft ∙ Built 1949
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.68
    •  
  • 5845 Brouse Avenue Indianapolis, IN 1
    • 3 beds 2 baths ∙ 2,502 Sqft ∙ Built 1948 3 beds 2 baths ∙ 2,502 Sqft ∙ Built 1948
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.68
    •  
  • 2614 East 57th Street Indianapolis, IN 2
    • 3 beds 2 baths ∙ 2,454 Sqft ∙ Built 1952 3 beds 2 baths ∙ 2,454 Sqft ∙ Built 1952
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.70
    •  
  • 4630 Cranbrook Drive Indianapolis, IN 4
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 1969
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Amanda Shafer
F.c. Tucker Company
BESbswy