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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $92.94
- 3 Days on Market
- MLS # : 21764462
- Updated Date : 02/06/2021 at 00:11
CONSTRUCTION
- Beds : 3
- Floor Size : 2,097 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Legends Group
Listing Agent's Description
You really can have it ALL! Welcome to this Dynamic #3 Large Bedroom, 2.5 Bath....w/HUGE Loft nestled on a cozy cul de sac in Woodland Trails of Franklin Township! Great Elevation....Newer Carpet, Lovely Fireplace in the Great Room....very open on the Main Level...includes a spacious dining space & perfect Kitchen w/new flooring too! All Appliances stay. Venture upstairs to your welcoming GIANT loft....perfect for a secondary lounging area or maybe even your music space or gaming area for the kids. Great for In Home Office or Virtual Schooling as well! Spacious bedrooms....The Master has it's own large en suite bath with soaking tub & walk in closet! 6' Bump on Garage! 5' fenced rear yard & this lovely community has nice walking trails!
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
Neighborhood: Southeast Indianapolis
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Southeast Indianapolis
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,410 |
| EXPENSES | Loan Payment | -$677 |
| Property Tax | -$305 | |
| Property Insurance | -$68 | |
| HOA | -$29 | |
| Property Management Fees | -$127 | |
|
CASH FLOW
$205
|
||
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.
$194,900
PROJECTED PRICE
$1,410
PROJECTED RENT
0.72%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 5.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.45% |
| 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
$57,399
LOAN DETAILS
$677
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $48,725 |
| Loan Amount | $146,175 |
7.5
YEARS SAVED
$19,030
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,410
LIST RENT -
$0.67
LIST RENT PER SQFT
-
$1,405
COMP ESTIMATED VALUE -
$0.67
COMP AVG. RENT PER SQFT
Comps Range
-
6402 Birds Eye Drive Indianapolis, IN 5
- 3 beds 3 baths ∙ 2,097 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,097 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $1,410
- $0.67
-
3230 Abaca Court Indianapolis, IN 1
- 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2000
LEASED 04/08/20- Rent
- Rent Per SQFT
- $1,350
- $0.66
-
3231 Abaca Court Indianapolis, IN 2
- 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2000
LEASED 07/29/20- Rent
- Rent Per SQFT
- $1,350
- $0.66
-
3102 Salamonie Drive Indianapolis, IN 3
- 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 2004
LEASED 09/14/20- Rent
- Rent Per SQFT
- $1,380
- $0.67
-
3408 Carica Drive Indianapolis, IN 4
- 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2000
LEASED 08/17/20- Rent
- Rent Per SQFT
- $1,399
- $0.69
PROPERTY LISTING DETAILS
Re/max Legends Group
