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7037 Grosvenor Place Indianapolis, IN 46220

4 Beds 3 Baths 2,008 sqft Built 1965

$225,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $112.05
  • 3 Days on Market
  • MLS # : 21762756
  • Updated Date : 01/30/2021 at 20:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,008 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Scheetz

Listing Agent's Description

Wonderful 4 BD, 2.5 BA tri- level home in desirable Devonshire neighborhood w/ 4 yr old roof!Tile floor entry flanked by living & dining rm w/ hardwood floors & eat-in kitchen w/ new floor. Upstairs hardwood floors in all 3 bdrms including a master suite w/ oversized closet & 1/2 bath.Homeowners added a wall/door i, kitchen for a private lower level retreat w/ fireplace, bedroom & full bath.Home features a large backyard perfect for entertaining. 2020: new sump pump, wall added in kitchen, kitchen floors, water heater, landscaping updated. 2019: new kitchen appliances, updated electrical. Amazing Location!Agressively priced to accomodate for new wall & kitch cab paint, LL remodel +flooring, crawlspace door, windows, & garage door if needed.

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: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k282k

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

Neighborhood: Devonshire

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250130013501400145015001550Rent in $9211566

* 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
Belzer Middle School Middle Regular 1,159 61 4
Lawrence Central High School High Regular 2,331 115 3

Belzer Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 61
4
GreatSchools Rating

Lawrence Central High School

  • Education Level: High
  • # of students: 2,331
  • # of teachers: 115
3
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$782
Property Tax -$351
Property Insurance -$66
Property Management Fees -$153
CASH FLOW
$348

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.

$225,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.9%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$36,200

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,780

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,5003$1,7004$2,025
$2,025
RENT COMPS ANALYSIS
  • 7037 Grosvenor Place Indianapolis, IN 3
    • 4 beds 3 baths ∙ 2,008 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,008 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 5036 East 76th St Court Indianapolis, IN 1
    • 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 1967 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 1967
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.86
    •  
  • 7159 Avalon Trail Court Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,935 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,935 Sqft ∙ Built 1968
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
  • 7353 Johnson Road Indianapolis, IN 4
    • 4 beds 2 baths ∙ 1,995 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,995 Sqft ∙ Built 1972
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $1.02
    •  
PROPERTY LISTING DETAILS
Elisabeth A. Lugar
1.317.572.5033
Century 21 Scheetz
BESbswy