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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $113.15
- 3 Days on Market
- MLS # : 21763001
- Updated Date : 01/29/2021 at 11:27
CONSTRUCTION
- Beds : 3
- Floor Size : 1,856 sqft
- Baths : 1 full
Listing Agent
Century 21 Scheetz
Listing Agent's Description
Within a mile of Broad Ripple Village culture & night life, yet nestled in an area that is quiet & private-One of the best kept secrets of Broad Ripple! Cozy, Charming 3 Bd Bungalow is perfect for anyone wanting to be within walking distance of restaurants, shopping, Broad Ripple Park & the Monon w/o giving up outdoor space & a suburban feel. Home features spacious Living Rm, SS Appliances (including Gas Range) & room off Kitchen for dining or an additional sitting area. Full Basement offers plenty of bonus space to use for storage & whatever else suits your needs. Deck & Yard are perfect for entertaining or just relaxing in the warmer months ahead. AC-2018, Furnace & Wtr Htr-2016. Includes all appliances + Washer/Dryer & Water Softener.
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: Broad Ripple Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Broad Ripple Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,470 |
| EXPENSES | Loan Payment | -$729 |
| Property Tax | -$374 | |
| Property Insurance | -$63 | |
| Property Management Fees | -$132 | |
|
CASH FLOW
$171
|
||
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.
$210,000
PROJECTED PRICE
$1,470
PROJECTED RENT
0.70%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$61,400
LOAN DETAILS
$729
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $52,500 |
| Loan Amount | $157,500 |
6.42
YEARS SAVED
$16,333
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,470
LIST RENT -
$0.79
LIST RENT PER SQFT
-
$1,708
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
6332 Burlington Avenue Indianapolis, IN 2
- 3 beds 1 baths ∙ 1,856 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,856 Sqft ∙ Built 1953
- Rent
- Rent Per SQFT
- $1,470
- $0.79
-
3959 East 56th Street Indianapolis, IN 1
- 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1950
LEASED 09/20/19- Rent
- Rent Per SQFT
- $1,385
- $0.89
-
5305 Norwaldo Avenue Indianapolis, IN 3
- 4 beds 1 baths ∙ 1,690 Sqft ∙ Built 1949 4 beds 1 baths ∙ 1,690 Sqft ∙ Built 1949
LEASED 01/09/20- Rent
- Rent Per SQFT
- $1,530
- $0.91
-
6035 Ralston Avenue Indianapolis, IN 4
- 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1941
LEASED 04/20/20- Rent
- Rent Per SQFT
- $1,650
- $0.98
-
1919 Broad Ripple Avenue Indianapolis, IN 5
- 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1939
LEASED 01/08/21- Rent
- Rent Per SQFT
- $1,800
- $0.90
PROPERTY LISTING DETAILS
Century 21 Scheetz
