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7564 Hollow Reed Court Noblesville, IN 46062

3 Beds 3 Baths 2,334 sqft Built 1999

$224,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $96.36
  • 3 Days on Market
  • MLS # : 21752988
  • Updated Date : 11/21/2020 at 11:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,334 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Don't miss this beautiful home in Noblesville! Enjoy a spacious, open floor plan with gorgeous sunsets shining through the dining room windows. Plenty of storage space with large, walk in closets. Entertain with a cozy fire pit and bench seating for those beautiful fall nights. The neighborhood has a new playground, lots of green space and fishing ponds. You will also not have much traffic with the cul-de-sac location. Don't miss out on this gem!

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Windwood at Morse

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k288k

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

Neighborhood: Windwood at Morse

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10331588

* 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
Hinkle Creek Elementary School Primary Regular 948 41 8
Noblesville West Middle School Middle Regular 1,332 63 8
Noblesville High School High Regular 2,685 137 8

Hinkle Creek Elementary School

  • Education Level: Primary
  • # of students: 948
  • # of teachers: 41
8
GreatSchools Rating

Noblesville West Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 63
8
GreatSchools Rating

Noblesville High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 137
8
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$830
Property Tax -$367
Property Insurance -$72
HOA -$17
Property Management Fees -$140
CASH FLOW
$135

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.

$224,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.3%
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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,426

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,680

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5603$1,5954$1,6455$1,715
$1,715
RENT COMPS ANALYSIS
  • 7564 Hollow Reed Court Noblesville, IN 2
    • 3 beds 3 baths ∙ 2,334 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,334 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.67
    •  
  • 7587 Hollow Reed Court Noblesville, IN 1
    • 3 beds 3 baths ∙ 2,225 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,225 Sqft ∙ Built 1999
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.70
    •  
  • 7707 Dayflower Court Noblesville, IN 3
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 1997
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
  • 19533 Chip Shot Road Noblesville, IN 4
    • 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 2011
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.75
    •  
  • 18831 Big Circle Drive Noblesville, IN 5
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 2010
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,715
    • $0.70
    •  
PROPERTY LISTING DETAILS
Richard Ardaiolo
Redfin Corporation
BESbswy