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7111 Hiner Lane Indianapolis, IN 46219

3 Beds 2 Baths 1,608 sqft Built 1970

$149,900

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $93.22
  • 3 Days on Market
  • MLS # : 21767369
  • Updated Date : 02/19/2021 at 09:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,608 sqft
  • Baths : 2 full
Listing Agent

Century 21 Scheetz

Listing Agent's Description

Welcome to your new home! This home checks all the boxes on your search! All brick ranch with 3 bedrooms, 2 bathrooms, hardwood floors, and over 1600 sq. ft! Cuddle up by the fire in the cozy living room or enjoy the extra space in the large family room/den. Large fenced back yard, 2-car garage, and conveniently located to dining and shopping. Home warranty will be transferred in sale. No HOA!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Gate

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $80k168k

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

Neighborhood: East Gate

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2800850900950100010501100115012001250Rent in $7901268

* 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
Hawthorne Elementary School Primary Regular 450 23 5
Raymond Park Middle School Middle Regular 624 31 3
Warren Central High School High Regular 3,602 147 2

Hawthorne Elementary School

  • Education Level: Primary
  • # of students: 450
  • # of teachers: 23
5
GreatSchools Rating

Raymond Park Middle School

  • Education Level: Middle
  • # of students: 624
  • # of teachers: 31
3
GreatSchools Rating

Warren Central High School

  • Education Level: High
  • # of students: 3,602
  • # of teachers: 147
2
GreatSchools Rating
 

$134,910$164,890$149,900

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 -$521
Property Tax -$262
Property Insurance -$58
Property Management Fees -$113
CASH FLOW
$306

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.

$149,900

PROJECTED PRICE

$1,260

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.8%
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

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$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,474

INVESTMENT

$45,474

Down Payment
$37,475
Rehab Estimate
$5,750
Closing Costs
$2,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$521

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $37,475
Loan Amount $112,425
See What Happens When You Reinvest Cash Flow

12.17

YEARS SAVED

$29,195

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
  • $0.78

    LIST RENT PER SQFT
  • $1,266

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1503$1,2004$1,2605$1,445
$1,445
RENT COMPS ANALYSIS
  • 7111 Hiner Lane Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.78
    •  
  • 1710 North Harbison Avenue Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1962
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.71
    •  
  • 8031 East 11th Street Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1988
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.88
    •  
  • 113 South Webster Avenue Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1960
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.70
    •  
  • 849 Burbank Road Indianapolis, IN 5
    • 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1963
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.86
    •  
PROPERTY LISTING DETAILS
Sarah Lux
Century 21 Scheetz
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21767369
Last Updated: 02/19/2021
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