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7170 Allisonville Road Indianapolis, IN 46250

4 Beds 3 Baths 2,481 sqft Built 1961

$249,900

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $100.73
  • 2 Days on Market
  • MLS # : 21750062
  • Updated Date : 11/02/2020 at 14:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,481 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ferris Property Group

Listing Agent's Description

Check out this Investors Dream. 4-bedroom, 2.5 bath ranch located in Washington Township. Huge family room with fireplace allows for unlimited possibilities. Custom built in shelving and cabinets in the office. Wrap around patio viewing the beautiful scenery. Original hardwoods through out most of the home. Add some cosmetic upgrades and this gem is a huge score!

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: Allisonville

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k279k

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

Neighborhood: Allisonville

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2100011001200130014001500160017001800190020002100Rent in $9212125

* 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
John Strange Elementary School Primary Regular 633 29 7
Eastwood Middle School Middle Regular 835 47 4
North Central High School High Regular 3,518 182 7

John Strange Elementary School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 29
7
GreatSchools Rating

Eastwood Middle School

  • Education Level: Middle
  • # of students: 835
  • # of teachers: 47
4
GreatSchools Rating

North Central High School

  • Education Level: High
  • # of students: 3,518
  • # of teachers: 182
7
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$922
Property Tax -$547
Property Insurance -$75
Property Management Fees -$210
CASH FLOW
$576

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.

$249,900

PROJECTED PRICE

$2,330

PROJECTED RENT

0.93%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.3%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

13.25

YEARS SAVED

$62,094

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,786

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$2,3303$2,500
$2,500
RENT COMPS ANALYSIS
  • 7170 Allisonville Road Indianapolis, IN 2
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.94
    •  
  • 6477 North Parker Avenue Indianapolis, IN 1
    • 3 beds 2 baths ∙ 2,614 Sqft ∙ Built 1958 3 beds 2 baths ∙ 2,614 Sqft ∙ Built 1958
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.54
    •  
  • 4630 Cranbrook Drive Indianapolis, IN 3
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 1969
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Joseph Daniels Jr.
Ferris Property Group
BESbswy