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8050 East 48th Street Indianapolis, IN 46226

3 Beds 1 Baths 1,023 sqft Built 1954

$94,900

List Price

$750

$675 - $825

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $92.77
  • 3 Days on Market
  • MLS # : 21756039
  • Updated Date : 12/04/2020 at 11:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,023 sqft
  • Baths : 1 full
Listing Agent

White Stag Realty, Llc

Listing Agent's Description

Great investment opportunity in Lawrence - Property features concrete driveway with gravel extension, partially fenced backyard, 1-car attached garage, laundry room, full kitchen, vinyl hardwood floors in main living spaces, 3 bedrooms and 1 bath plus additional bonus space that could be a 4th bedroom. Tenant-occupied through June 2021.

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lawrence

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190kPrice in $104k198k

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

Neighborhood: Lawrence

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250Rent in $9211270

* 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
Harrison Hill Elementary School Of Inquiry And Performing Arts (west Side) Primary Regular 698 35 2
Belzer Middle School Middle Regular 1,159 61 4
Lawrence Central High School High Regular 2,331 115 3

Harrison Hill Elementary School Of Inquiry And Performing Arts (west Side)

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 35
2
GreatSchools Rating

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
 

$85,410$104,390$94,900

PURCHASE PRICE

$675$825$750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $750
EXPENSES Loan Payment -$350
Property Tax -$148
Property Insurance -$47
Property Management Fees -$68
CASH FLOW
$137

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.

$94,900

PROJECTED PRICE

$750

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 2.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$30,899

INVESTMENT

$30,899

Down Payment
$23,725
Rehab Estimate
$5,750
Closing Costs
$1,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$350

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $23,725
Loan Amount $71,175
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$15,730

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $750

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $801

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$750
1$7502$8453$8654$8755$1,075
$1,075
RENT COMPS ANALYSIS
  • 8050 East 48th Street Indianapolis, IN 1
    • 3 beds 1 baths ∙ 1,023 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,023 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $750
    • $0.73
    •  
  • 4303 Meadowlark Court Indianapolis, IN 2
    • 3 beds 1 baths ∙ 1,073 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,073 Sqft ∙ Built 1962
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $845
    • $0.79
    •  
  • 4403 Dubarry Road Indianapolis, IN 3
    • 4 beds 1 baths ∙ 1,152 Sqft ∙ Built 1962 4 beds 1 baths ∙ 1,152 Sqft ∙ Built 1962
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $865
    • $0.75
    •  
  • 8207 East 50th Street Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1958
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.79
    •  
  • 5027 North Sadlier Drive Indianapolis, IN 5
    • 3 beds 1 baths ∙ 1,344 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,344 Sqft ∙ Built 1959
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $0.80
    •  
PROPERTY LISTING DETAILS
Joshua Baradaran-dilmaghani
White Stag Realty, Llc
BESbswy