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7925 East Saint Joseph Street Indianapolis, IN 46219

3 Beds 2 Baths 1,880 sqft Built 1950

$165,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $87.77
  • 2 Days on Market
  • MLS # : 21765786
  • Updated Date : 02/13/2021 at 09:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,880 sqft
  • Baths : 1 full , 1 half
Listing Agent

Front Porch Real Estate, Llc

Listing Agent's Description

This solid built ranch has great space, sets on 1/2 acre lot & is on a quiet dead end street. Home offers 3 bedrooms (all w/ ceiling fan lights) w/ 1-1/2 baths & lovingly maintained since 1964. The Living room boasts a huge picture window & built-in shelving. Look at these room sizes! You'll love the abundant storage & beautiful Hrdwds which flow through most of the home. The eat-in kitchen features lots of prep space & plenty of cabinetry w/ a pass through to the family room which features a wood-burning fireplace. All appliances in the home will remain. The finished garage is a two car tandem with over 700 ft.², 2 overhead doors, keyless entry, pull down attic stairs & extra storage. Home being sold "as-is", but no major defects known.

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: East Gate

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $80k168k

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

Neighborhood: East Gate

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2800850900950100010501100115012001250Rent in $7901268

* 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
Hawthorne Elementary School Primary Regular 450 23 5
Raymond Park Middle School Middle Regular 624 31 3
Warren Central High School High Regular 3,602 147 2

Hawthorne Elementary School

  • Education Level: Primary
  • # of students: 450
  • # of teachers: 23
5
GreatSchools Rating

Raymond Park Middle School

  • Education Level: Middle
  • # of students: 624
  • # of teachers: 31
3
GreatSchools Rating

Warren Central High School

  • Education Level: High
  • # of students: 3,602
  • # of teachers: 147
2
GreatSchools Rating
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$573
Property Tax -$288
Property Insurance -$63
Property Management Fees -$122
CASH FLOW
$304

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.

$165,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.8%
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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$573

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$29,413

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,387

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,165
1$1,1652$1,1953$1,2254$1,3505$1,445
$1,445
RENT COMPS ANALYSIS
  • 7925 East Saint Joseph Street Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.72
    •  
  • 8838 East 15th Street Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1961
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,165
    • $0.66
    •  
  • 450 North Boehning Street Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1954
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.67
    •  
  • 8750 East Lynbrook Drive Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1964
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.76
    •  
  • 849 Burbank Road Indianapolis, IN 5
    • 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1963
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.86
    •  
PROPERTY LISTING DETAILS
Amy J. Cox
Front Porch Real Estate, Llc
BESbswy