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7509 Dry Branch Court Indianapolis, IN 46236

3 Beds 3 Baths 1,822 sqft Built 1993

$200,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $109.77
  • 3 Days on Market
  • MLS # : 21755793
  • Updated Date : 12/04/2020 at 21:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,822 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Scheetz

Listing Agent's Description

Wow- gorgeous 3 bed/2.5 ba with vaulted ceilings, updated kitchen with white and grey cabs professionally painted, quartz ctrs., stainless apps and custom backsplash, laminate throughout 1st floor, new paint, doors, GDO, HVAC 2015. 1/2 bath updated w/quartz, custom tile flooring, all new lighting and plumbing fixtures through out. Updated hall and master baths, spacious master bedroom w/ vaulted ceiling. Large deck for summer entertaining and full rear fence. Move in ready, all appliances included, immaculate, won't last long.

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: Geist

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k326k

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

Neighborhood: Geist

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2100012001400160018002000220024002600Rent in $9212631

* 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
Oaklandon Elementary School Of Environmental Studies (east Side) Primary Regular 614 33 3
Belzer Middle School Middle Regular 1,159 61 4
Lawrence Central High School High Regular 2,331 115 3

Oaklandon Elementary School Of Environmental Studies (east Side)

  • Education Level: Primary
  • # of students: 614
  • # of teachers: 33
3
GreatSchools Rating

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
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$738
Property Tax -$312
Property Insurance -$62
Property Management Fees -$122
CASH FLOW
$116

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.

$200,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.1%
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

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$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$14,773

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,408

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,145
1$1,1452$1,2753$1,3504$1,3505$1,445
$1,445
RENT COMPS ANALYSIS
  • 7509 Dry Branch Court Indianapolis, IN 4
    • 3 beds 3 baths ∙ 1,822 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,822 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.74
    •  
  • 7248 Glossbrenner Court Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1990
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.78
    •  
  • 7346 Red Rock Road Indianapolis, IN 2
    • 4 beds 3 baths ∙ 1,712 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,712 Sqft ∙ Built 1992
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.74
    •  
  • 6720 Sparrowood Drive Indianapolis, IN 3
    • 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 1997
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.73
    •  
  • 12218 Van Spronsen Court Indianapolis, IN 5
    • 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 1991
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.84
    •  
PROPERTY LISTING DETAILS
Ann E. Williams
Century 21 Scheetz
BESbswy