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7846 Wysong Drive Indianapolis, IN 46219

3 Beds 1 Baths 1,140 sqft Built 1959

$107,000

List Price

$940

$846 - $1K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1959
  • Price/Sqft : $93.86
  • 2 Days on Market
  • MLS # : 21748588
  • Updated Date : 11/02/2020 at 10:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,140 sqft
  • Baths : 1 full
Listing Agent

Gallery Of Homes Real Estate

Listing Agent's Description

A sweet, neat three bedroom, one bath home with a good sized yard and screened back porch so you can enjoy the backyard without the onslaught of skeeters! Stove and fridge stay with the house. All electric. Conveniently located, and in a quiet neighborhood.

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: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $81k168k

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

Neighborhood: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7461268

* 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
George Buck School 94 Primary Regular 419 29 1
George Buck School 94 Middle Regular 419 29 1
Arlington Middle School Middle Unknown NA

George Buck School 94

  • Education Level: Primary
  • # of students: 419
  • # of teachers: 29
1
GreatSchools Rating

George Buck School 94

  • Education Level: Middle
  • # of students: 419
  • # of teachers: 29
1
GreatSchools Rating

Arlington Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$96,300$117,700$107,000

PURCHASE PRICE

$846$1,034$940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $940
EXPENSES Loan Payment -$395
Property Tax -$205
Property Insurance -$49
Property Management Fees -$85
CASH FLOW
$207

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.

$107,000

PROJECTED PRICE

$940

PROJECTED RENT

0.88%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.45%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

PROJECTED ANNUAL CASH FLOW

11530$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k$7.0k$8.0k$9.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$34,105

INVESTMENT

$34,105

Down Payment
$26,750
Rehab Estimate
$5,750
Closing Costs
$1,605

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$395

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $26,750
Loan Amount $80,250
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$22,195

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $940

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $952

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$825
1$8252$8953$9004$9005$940
$940
RENT COMPS ANALYSIS
  • 7846 Wysong Drive Indianapolis, IN 5
    • 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $940
    • $0.82
    •  
  • 7821 Cullen Drive Indianapolis, IN 1
    • 4 beds 1 baths ∙ 957 Sqft ∙ Built 1959 4 beds 1 baths ∙ 957 Sqft ∙ Built 1959
    LEASED 07/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $825
    • $0.86
    •  
  • 3137 North Richardt Avenue Indianapolis, IN 2
    • 3 beds 1 baths ∙ 1,192 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,192 Sqft ∙ Built 1955
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.75
    •  
  • 7911 Souter Drive Indianapolis, IN 3
    • 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1959
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.79
    •  
  • 8238 East Wysong Drive Indianapolis, IN 4
    • 3 beds 1 baths ∙ 957 Sqft ∙ Built 1960 3 beds 1 baths ∙ 957 Sqft ∙ Built 1960
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.94
    •  
PROPERTY LISTING DETAILS
Deb Kent
1.317.225.2253
Gallery Of Homes Real Estate
BESbswy