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649 Blue Meadow Drive Greenwood, IN 46143

3 Beds 2 Baths 1,209 sqft Built 2002

$155,000

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $128.21
  • 3 Days on Market
  • MLS # : 21752043
  • Updated Date : 11/13/2020 at 12:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,209 sqft
  • Baths : 2 full
Listing Agent

Engel & Volkers

Listing Agent's Description

This well-maintained 3 BD, 2 BA beauty has a Fenced-in Backyard and Covered Deck in the spacious Backyard. Features include Updated Appliances, New Carpeting, Fresh Interior Paint, Updated Lighting Fixtures, R/O Drinking System, New Roof and New 2 Car Garage Door in 2018. Nestled in Barton Lakes, this home is the perfect place to call home.

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: Greenwood

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k222k

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

Neighborhood: Greenwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2105011001150120012501300135014001450150015501600Rent in $10401604

* 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
Pleasant Crossing Elementary School Primary Regular 712 36 5
Clark Pleasant Middle School Middle Regular 988 46 8
Whiteland Community High School High Regular 1,767 69 6

Pleasant Crossing Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 36
5
GreatSchools Rating

Clark Pleasant Middle School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 46
8
GreatSchools Rating

Whiteland Community High School

  • Education Level: High
  • # of students: 1,767
  • # of teachers: 69
6
GreatSchools Rating
 

$139,500$170,500$155,000

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$572
Property Tax -$211
Property Insurance -$51
HOA -$15
Property Management Fees -$98
CASH FLOW
$143

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.

$155,000

PROJECTED PRICE

$1,090

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$572

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$17,607

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,091

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,075
1$1,0752$1,0903$1,1954$1,2255$1,250
$1,250
RENT COMPS ANALYSIS
  • 649 Blue Meadow Drive Greenwood, IN 2
    • 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.90
    •  
  • 665 Blue Meadow Drive Greenwood, IN 1
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 2006
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $0.87
    •  
  • 1880 Long Lake Drive Greenwood, IN 3
    • 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 2000
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.91
    •  
  • 1221 Kenwood Drive Greenwood, IN 4
    • 3 beds 3 baths ∙ 1,340 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,340 Sqft ∙ Built 1998
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.91
    •  
  • 2261 Grand Fir Drive Greenwood, IN 5
    • 3 beds 3 baths ∙ 1,362 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,362 Sqft ∙ Built 2001
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.92
    •  
PROPERTY LISTING DETAILS
Gino Sgro
Engel & Volkers
BESbswy