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6922 West Briarwood Boulevard New Palestine, IN 46163

4 Beds 3 Baths 2,428 sqft Built 2004

$255,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $105.02
  • 4 Days on Market
  • MLS # : 21762997
  • Updated Date : 02/05/2021 at 16:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,428 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Legends Group

Listing Agent's Description

This is the ONE! Located in popular Briarwood Trace in sought after New Palestine .FOUR bedroom 2.5 bath Fabulous Find! Light bright wide open floor plan.Upstairs loft offers extra living space. Gas fireplace accents great room. Flex room on main. Updates GALORE! Stunning new kitchen with rich chocolate staggered cabinets & granite countertops.Stainless appliances. Double pantry. Pamper yourself in your master retreat with easy care laminate flooring. Master has new double vanity and large walk in closet.Hall bath updated too. Roof and siding replaced last fall. Heat pump,furnace and AC new in 2017.New windows with lifetime warranty. Relax on your patio overlooking the pond in your fully fenced backyard.Raised garden beds ready for Spring.

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

Zip Code: 46163

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $119k237k

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

Zip Code: 46163

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10401580

* 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
Doe Creek Middle School Middle Regular 571 25 8
New Palestine High School High Regular 1,096 48 7

Doe Creek Middle School

  • Education Level: Middle
  • # of students: 571
  • # of teachers: 25
8
GreatSchools Rating

New Palestine High School

  • Education Level: High
  • # of students: 1,096
  • # of teachers: 48
7
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$886
Property Tax -$341
Property Insurance -$74
HOA -$25
Property Management Fees -$145
CASH FLOW
$140

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.

$255,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.1%
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-$2.0k$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$15,827

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,602

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,610
$1,610
RENT COMPS ANALYSIS
  • 6922 West Briarwood Boulevard New Palestine, IN 2
    • 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.66
    •  
  • 2219 South Briarwood Drive New Palestine, IN 1
    • 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2005
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.66
    •  
PROPERTY LISTING DETAILS
Terry Melvin, Crs, Gri
Re/max Legends Group
BESbswy