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763 Grace Drive Carmel, IN 46032

4 Beds 3 Baths 2,503 sqft Built 1989

$328,655

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $131.30
  • 3 Days on Market
  • MLS # : 21764966
  • Updated Date : 02/26/2021 at 09:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,503 sqft
  • Baths : 2 full , 1 half
Listing Agent

Carpenter, Realtors®

Listing Agent's Description

Enter into this Lovely Colonial Style 2 Story Home in a Great Neighborhood of Carmel and enjoy the attention to detail throughout. With 4 bedrooms upstairs, including a Large Master with Vaulted Ceilings and private bath w/Window, each of the 4 bedrooms are unique and enjoy a nice quiet feel. PLUS a great floorplan downstairs, and great touches like Crown Molding, Fireplace in the Family Room... all help to make this house FEELS LIKE HOME in every room! Eat-in Kitchen has sliding glass doors to the expansive rear deck - and back yard with new fence, too! Newer Stainless Appliances included! Center Island adds convenience for family meal preparations. 1 Year Home Warranty Being Included! View from Rear Deck of Beautiful Pond Area, too!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rohrer Woods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k371k

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

Neighborhood: Rohrer Woods

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q21200140016001800200022002400Rent in $10402510

* 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
Carmel Elementary School Primary Regular 515 26 8
Carmel Middle School Middle Regular 1,162 62 7
Carmel High School High Regular 4,830 251 10

Carmel Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 26
8
GreatSchools Rating

Carmel Middle School

  • Education Level: Middle
  • # of students: 1,162
  • # of teachers: 62
7
GreatSchools Rating

Carmel High School

  • Education Level: High
  • # of students: 4,830
  • # of teachers: 251
10
GreatSchools Rating
 

$295,790$361,521$328,655

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,142
Property Tax -$447
Property Insurance -$75
HOA -$16
Property Management Fees -$180
CASH FLOW
$140

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.

$328,655

PROJECTED PRICE

$2,000

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,844

INVESTMENT

$92,844

Down Payment
$82,164
Rehab Estimate
$5,750
Closing Costs
$4,930

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,142

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,164
Loan Amount $246,491
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$18,111

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,990

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$2,0003$2,200
$2,200
RENT COMPS ANALYSIS
  • 763 Grace Drive Carmel, IN 2
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 515 Jet Stream Boulevard Westfield, IN 1
    • 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 1999
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.72
    •  
  • 1243 Bentley Way Carmel, IN 3
    • 3 beds 3 baths ∙ 2,529 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,529 Sqft ∙ Built 1997
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
PROPERTY LISTING DETAILS
Alan E. Schultz
Carpenter, Realtors®
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21764966
Last Updated: 02/26/2021
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