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7567 Meadow Ridge Drive Fishers, IN 46038

4 Beds 3 Baths 2,035 sqft Built 1989

$280,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $137.59
  • 3 Days on Market
  • MLS # : 21769288
  • Updated Date : 03/26/2021 at 18:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,035 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Indy Metro Ne

Listing Agent's Description

LOCATION SAYS IT ALL! POPULAR BERKELY GROVE home looking for a new owner! Traditional LR/DR combo welcomes you as you enter this warm home. Kitchen flows into the eat in & family room w/wood burning fireplace creating a comfortable space. All kitchen appliances to stay w/home. Tons of storage & pantry. HVAC & windows just 3yrs old. Primary bedroom & bath offer relaxing space w/walk in closet. Additional bedrooms offers good closet space. Laundry upstairs makes it simple. Like to entertain? Look at that backyard w/large deck and firepit area! Close to all the amenities Fishers has to offer! TOP ranked schools and parks near by!

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: Berkley Grove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k289k

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

Neighborhood: Berkley Grove

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2110012001300140015001600170018001900Rent in $10401990

* 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
Fishers Elementary School Primary Regular 467 24 7
Riverside Junior High Middle Regular 959 61 8
Fishers High School High Regular 2,964 134 9

Fishers Elementary School

  • Education Level: Primary
  • # of students: 467
  • # of teachers: 24
7
GreatSchools Rating

Riverside Junior High

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 61
8
GreatSchools Rating

Fishers High School

  • Education Level: High
  • # of students: 2,964
  • # of teachers: 134
9
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$973
Property Tax -$420
Property Insurance -$66
HOA -$31
Property Management Fees -$154
CASH FLOW
$65

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.

$280,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.2%
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$700k$800k$900k

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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,257

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,669

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,445
1$1,4452$1,6003$1,6504$1,6505$1,710
$1,710
RENT COMPS ANALYSIS
  • 7567 Meadow Ridge Drive Fishers, IN 5
    • 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.84
    •  
  • 524 Concord Court Fishers, IN 1
    • 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1977
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.79
    •  
  • 11704 Cameron Drive Fishers, IN 2
    • 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 1981
    LEASED 03/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 8265 Katrina Way Fishers, IN 3
    • 3 beds 4 baths ∙ 2,058 Sqft ∙ Built 2007 3 beds 4 baths ∙ 2,058 Sqft ∙ Built 2007
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 7717 Hidden Ridge Fishers, IN 4
    • 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1991
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
PROPERTY LISTING DETAILS
Amy Corey
Keller Williams Indy Metro Ne
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21769288
Last Updated: 03/26/2021
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