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7047 West 10th Street Indianapolis, IN 46214

4 Beds 2 Baths 2,808 sqft Built 1961

$205,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $73.01
  • 4 Days on Market
  • MLS # : 21767855
  • Updated Date : 02/25/2021 at 11:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,808 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker - Kaiser

Listing Agent's Description

This updated, spacious 4 bedroom, 2 full bath Cape Cod style home will not disappoint! Enter into a roomy family room which opens to the dining room both with hardwood flooring. Big kitchen with stainless steel appliances. 2 bedrooms and 1 full bath on the main floor. Head upstairs where you will find 2 more spacious bedrooms and another full bath. Both bathrooms have been updated. Full basement, most of which is finished into a family room and rec room with pool table. Newer vinyl windows throughout the home. Large private backyard with privacy fence, patio, and mini barn. Close to Ben Davis High School, walking distance to shopping & restaurants. This is a must see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Chapel Hill Village

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $87k168k

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

Neighborhood: Chapel Hill Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2800850900950100010501100115012001250Rent in $7941268

* 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
Chapel Hill 7th And 8th Grade Center Middle Regular 1,105 78 4
Ben Davis University High School High Regular 358 18 4
Ben Davis Ninth Grade Center High Regular 1,154 82 NA

Chapel Hill 7th And 8th Grade Center

  • Education Level: Middle
  • # of students: 1,105
  • # of teachers: 78
4
GreatSchools Rating

Ben Davis University High School

  • Education Level: High
  • # of students: 358
  • # of teachers: 18
4
GreatSchools Rating

Ben Davis Ninth Grade Center

  • Education Level: High
  • # of students: 1,154
  • # of teachers: 82
NA
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$712
Property Tax -$380
Property Insurance -$81
Property Management Fees -$130
CASH FLOW
$137

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.

$205,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.45%
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

PROJECTED ANNUAL CASH FLOW

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

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$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$712

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$12,162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.51

    LIST RENT PER SQFT
  • $1,488

    COMP ESTIMATED VALUE
  • $0.53

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,440
$1,440
RENT COMPS ANALYSIS
  • 7047 West 10th Street Indianapolis, IN 2
    • 4 beds 2 baths ∙ 2,808 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,808 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.51
    •  
  • 6006 Cadillac Drive Speedway, IN 1
    • 3 beds 2 baths ∙ 2,492 Sqft ∙ Built 1955 3 beds 2 baths ∙ 2,492 Sqft ∙ Built 1955
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.53
    •  
PROPERTY LISTING DETAILS
Lisa Modisett
1.317.819.1958
Coldwell Banker - Kaiser
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21767855
Last Updated: 02/25/2021
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