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7602 Hollow Reed Court Noblesville, IN 46062

4 Beds 2 Baths 1,709 sqft Built 1999

$200,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $117.03
  • 6 Days on Market
  • MLS # : 21749531
  • Updated Date : 11/01/2020 at 18:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,709 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Indy Metro Ne

Listing Agent's Description

You will love this 4BR/2BA Noblesville ranch with super open floorplan. Home features wonderful kitchen w/center island, plenty of cabinet/counter, tile backsplash and pantry overlooking eat in kitchen and spacious great room. Perfect for entertaining. Master bedroom with private master bath and spacious walk in closet. Entertain or just relax on the oversize wood deck. This home is in a great location with a short walk to Morse Park and Beach, Hague Road Nature Haven and all the great things that Noblesville has to offer.

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: 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
 

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

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$738
Property Tax -$326
Property Insurance -$60
HOA -$18
Property Management Fees -$127
CASH FLOW
$142

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

$1,410

PROJECTED RENT

0.71%

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$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

6.08

YEARS SAVED

$16,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,436

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,4103$1,4354$1,4855$1,495
$1,495
RENT COMPS ANALYSIS
  • 7602 Hollow Reed Court Noblesville, IN 2
    • 4 beds 2 baths ∙ 1,709 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,709 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.83
    •  
  • 19207 Fox Chase Drive Noblesville, IN 1
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 2001
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.89
    •  
  • 7563 Hollow Reed Court Noblesville, IN 3
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1999
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.87
    •  
  • 7714 Dixon Court Noblesville, IN 4
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2001
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.79
    •  
  • 19486 Prairie Crossing Drive Noblesville, IN 5
    • 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 2007
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.81
    •  
PROPERTY LISTING DETAILS
Alex K. Oh
Keller Williams Indy Metro Ne
BESbswy