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7965 Bitternut Drive Indianapolis, IN 46236

3 Beds 2 Baths 1,272 sqft Built 1997

$185,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $145.44
  • 3 Days on Market
  • MLS # : 21773010
  • Updated Date : 03/20/2021 at 08:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,272 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Home

Listing Agent's Description

Welcome Home! Hurry and check out this immaculate updated home! 3 spacious bedrooms and 2 bath home is waiting for you! Large newly fenced in backyard, eat-in kitchen with freshly painted cabinets that opens to great room. Laminate flooring throughout! New siding, new roof, many "SMART" features as well. This beauty won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Admirals Landing

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k241k

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

Neighborhood: Admirals Landing

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q21000110012001300140015001600170018001900Rent in $9211930

* 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
Belzer Middle School Middle Regular 1,159 61 4
Lawrence Central High School High Regular 2,331 115 3

Belzer Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 61
4
GreatSchools Rating

Lawrence Central High School

  • Education Level: High
  • # of students: 2,331
  • # of teachers: 115
3
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$643
Property Tax -$289
Property Insurance -$52
HOA -$10
Property Management Fees -$104
CASH FLOW
$54

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.

$185,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.62%

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$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$7,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,148

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1503$1,2504$1,2955$1,300
$1,300
RENT COMPS ANALYSIS
  • 7965 Bitternut Drive Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.90
    •  
  • 11604 East 75th Street Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1986
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.90
    •  
  • 7621 Davis Lane Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1986
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.87
    •  
  • 7432 Pebblebrooke West Drive Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1988
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.90
    •  
  • 12403 East 75th Street Indianapolis, IN 5
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1993
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jason Hemmerling
Berkshire Hathaway Home
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21773010
Last Updated: 03/20/2021
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