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656 Cloverfield Lane Greenwood, IN 46143

3 Beds 3 Baths 1,440 sqft Built 2006

$179,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $124.31
  • 2 Days on Market
  • MLS # : 21769343
  • Updated Date : 03/06/2021 at 21:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,440 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mas Properties

Listing Agent's Description

Don't miss this 3 bedroom 2.5 bath home within a short distance to the Greenwood Freedom Springs. Newer deck with built in seating. All kitchen appliances stay, newer granite countertops. Washer and Dryer included. Newer laminate and tiled flooring upstairs and downstairs. HVAC 2014. Nice size garage. Great views of the pond. Master bedroom has walk-in closet and master bath has tub/shower. Close to major highways, Hospitals, shopping and schools. Come call this house "HOME"!

SEE MORE

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
 

$161,100$196,900$179,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$622
Property Tax -$244
Property Insurance -$55
HOA -$15
Property Management Fees -$113
CASH FLOW
$211

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.

$179,000

PROJECTED PRICE

$1,260

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$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$53,185

INVESTMENT

$53,185

Down Payment
$44,750
Rehab Estimate
$5,750
Closing Costs
$2,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$622

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,750
Loan Amount $134,250
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$22,608

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,253

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,2503$1,2504$1,2605$1,295
$1,295
RENT COMPS ANALYSIS
  • 656 Cloverfield Lane Greenwood, IN 4
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.88
    •  
  • 1221 Kenwood Drive Greenwood, IN 1
    • 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
    •  
  • 85 Declaration Drive Greenwood, IN 2
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2000
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.83
    •  
  • 2261 Grand Fir Drive Greenwood, IN 3
    • 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
    •  
  • 2493 Grand Fir Drive Greenwood, IN 5
    • 3 beds 3 baths ∙ 1,587 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,587 Sqft ∙ Built 2001
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.82
    •  
PROPERTY LISTING DETAILS
Sara Syberg
1.317.496.5846
Mas Properties
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21769343
Last Updated: 03/06/2021
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