Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8078 Sunfish Court Indianapolis, IN 46236

3 Beds 3 Baths 2,196 sqft Built 1987

$270,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $122.95
  • 3 Days on Market
  • MLS # : 21765692
  • Updated Date : 02/12/2021 at 16:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,196 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Scheetz

Listing Agent's Description

Hard to find custom brick 3 bedroom, 2.5 ba ranch on a .63 cul-de-sac lot in desirable Feather Cove. New top-quality carpet & fresh interior paint greet you as you enter this open Great room floor plan w/vaulted ceilings, dual ceil fans, fireplace & hardwoods that flow to formal din rm. Kitchen with granite, all stainless steel appliance pkg, breakfast bar & pantry. Master Suite w/a full tub, Sep. shower, Lg walk-in closet. Sunroom w/full wall of windows to enjoy your private lush landscaped yard, Screen porch, and multi-level decks. The perfect way to enjoy those private, sun-filled tranquil evenings overlooking your flowing water pond feature. Conveniently located near Geist Reservoir. The current owner added a sunroom & screen porch.

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: Geist

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k326k

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

Neighborhood: Geist

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2100012001400160018002000220024002600Rent in $9212631

* 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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$938
Property Tax -$534
Property Insurance -$69
HOA -$40
Property Management Fees -$194
CASH FLOW
$385

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.

$270,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.1%
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$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$36,860

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,598

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,535
1$1,5352$1,6003$1,6754$1,7505$2,160
$2,160
RENT COMPS ANALYSIS
  • 8078 Sunfish Court Indianapolis, IN 5
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.98
    •  
  • 10502 Fawn Ridge Lane Indianapolis, IN 1
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 1993
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.66
    •  
  • 7734 Camfield Way Indianapolis, IN 2
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1997
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 12207 Southcreek Court Lawrence, IN 3
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1993
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.76
    •  
  • 12347 Geist Cove Drive Indianapolis, IN 4
    • 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 1997
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
PROPERTY LISTING DETAILS
Loretta Broeking
1.317.814.5254
Century 21 Scheetz
BESbswy