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729 Bridgebend Run Greenwood, IN 46143

3 Beds 2 Baths 1,239 sqft Built 2010

$199,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $161.34
  • 5 Days on Market
  • MLS # : 21773614
  • Updated Date : 03/27/2021 at 05:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,239 sqft
  • Baths : 2 full
Listing Agent

Mike Watkins Real Estate Group

Listing Agent's Description

This Sentry Homes custom built 3 bedroom, 2 full bath 1239 sq ft ranch in Clark-Pleasant schools. Kona colored maple cabinets, open concept, appliances and more. Privacy fenced yard and patio. Mstr has a single vanity w/in closet and garden tub. Extras include arches, new w/h, w/s w/ reverse osmosis. Great room, kitchen and breakfast area make for a true open concept. Easy access to interstate, shopping and restaurants.

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Greenwood

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k222k

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

Neighborhood: Greenwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2105011001150120012501300135014001450150015501600Rent in $10401604

* 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
Grassy Creek Elementary School Primary Regular NA
Clark Pleasant Middle School Middle Regular 988 46 8
Whiteland Community High School High Regular 1,767 69 6

Grassy Creek Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Clark Pleasant Middle School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 46
8
GreatSchools Rating

Whiteland Community High School

  • Education Level: High
  • # of students: 1,767
  • # of teachers: 69
6
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$694
Property Tax -$272
Property Insurance -$51
HOA -$27
Property Management Fees -$113
CASH FLOW
$93

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.

$199,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$11,383

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,087

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2953$1,2954$1,2955$1,350
$1,350
RENT COMPS ANALYSIS
  • 729 Bridgebend Run Greenwood, IN 1
    • 3 beds 2 baths ∙ 1,239 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,239 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.01
    •  
  • 1657 Blue Grass Parkway Greenwood, IN 2
    • 3 beds 3 baths ∙ 1,516 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,516 Sqft ∙ Built 2003
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.85
    •  
  • 1742 Elijah Blue Drive Greenwood, IN 3
    • 3 beds 3 baths ∙ 1,501 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,501 Sqft ∙ Built 2005
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
  • 673 Loon Lane Greenwood, IN 4
    • 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 2012
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.91
    •  
  • 1709 Blue Grass Parkway Greenwood, IN 5
    • 4 beds 3 baths ∙ 1,516 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,516 Sqft ∙ Built 2004
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
PROPERTY LISTING DETAILS
Patrick Watkins
1.317.698.9566
Mike Watkins Real Estate Group
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21773614
Last Updated: 03/27/2021
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