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7702 Highridge Drive Indianapolis, IN 46259

3 Beds 3 Baths 1,944 sqft Built 2009

$265,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $136.32
  • 3 Days on Market
  • MLS # : 21763695
  • Updated Date : 01/29/2021 at 00:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,944 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Indy Metro S

Listing Agent's Description

Gorgeous Semi-Custom Home Built by Princeton Homes Now Available in the Heart of Franklin Twsp! This Traditional American Home w/ Wrap-Around Porch Features 3 BRs 2.5 BA w/ Finished Bonus Room Perfect for Nursery/Office/Den, Two-Story Foyer, Kitchen Island, Tile Backsplash, SS Appliances, Laundry Room w/ Utility Sink, WICs, Dual Master BR Closets, Master BA Garden Tub & Dbl Sinks, Kenitico Water Softener. Some Recent Updates Include New Roof (2015) New Gas Water Heater (2018) Main Level Luxury Vinyl Plank Flooring (2019) Professionally Landscaped Paver Patio w/ Fire-pit & Wood Pergola (2018) that Leads to OUTSTANDING Backyard Space. Close Proximity to I-65, Grocery & Retail. Award Winning FT Schools. Act NOW!!!

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: South Franklin

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $104k221k

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

Neighborhood: South Franklin

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250130013501400145015001550Rent in $9211551

* 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
Franklin Central High School High Regular 2,503 110 9

Franklin Central High School

  • Education Level: High
  • # of students: 2,503
  • # of teachers: 110
9
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$920
Property Tax -$414
Property Insurance -$65
HOA -$22
Property Management Fees -$142
CASH FLOW
$17

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.

$265,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$6,668

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,589

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,3953$1,4954$1,5755$1,580
$1,580
RENT COMPS ANALYSIS
  • 7702 Highridge Drive Indianapolis, IN 5
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.81
    •  
  • 7724 Connie Drive Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1989
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.82
    •  
  • 6821 Kunkel Way Indianapolis, IN 2
    • 3 beds 3 baths ∙ 1,639 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,639 Sqft ∙ Built 1999
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
  • 6646 Heritage Hill Drive Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2005
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
  • 6653 Southern Cross Drive Indianapolis, IN 4
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2003
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.72
    •  
PROPERTY LISTING DETAILS
Daniel Aud
1.317.893.0658
Keller Williams Indy Metro S
BESbswy