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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lawrence
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$30,899
LOAN DETAILS
$350
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $23,725 |
| Loan Amount | $71,175 |
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
-
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
White Stag Realty, Llc
