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830 Westridge Drive N Noblesville, IN 46060

3 Beds 2 Baths 1,160 sqft Built 1985

$160,000

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $137.93
  • 5 Days on Market
  • MLS # : 21748993
  • Updated Date : 11/02/2020 at 14:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,160 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Indy Metro S

Listing Agent's Description

Charming 3 bedroom ranch home located in highly coveted Noblesville school districts! This cute home has an open concept, great for bringing everyone together to create a fun & bustling environment. Featuring updated laminate flooring & a wood burning fireplace to keep you cozy! Private, fenced in backyard that's great for play or entertaining! Includes surrounding neighborhoods which are highly rated and in close proximity to downtown Noblesville, which has plenty of shops & dining. This one is a MUST SEE!

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

Zip Code: 46060

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k252k

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

Zip Code: 46060

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10401588

* 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
Noble Crossing Elementary School Primary Regular 667 30 8
Noblesville West Middle School Middle Regular 1,332 63 8
Noblesville High School High Regular 2,685 137 8

Noble Crossing Elementary School

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 30
8
GreatSchools Rating

Noblesville West Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 63
8
GreatSchools Rating

Noblesville High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 137
8
GreatSchools Rating
 

$144,000$176,000$160,000

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$590
Property Tax -$261
Property Insurance -$50
Property Management Fees -$104
CASH FLOW
$155

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.

$160,000

PROJECTED PRICE

$1,160

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.6%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,150

INVESTMENT

$48,150

Down Payment
$40,000
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$17,689

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,050

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,2703$1,295
$1,295
RENT COMPS ANALYSIS
  • 830 Westridge Drive N Noblesville, IN 1
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $1.00
    •  
  • 19207 Fox Chase Drive Noblesville, IN 2
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 2001
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.89
    •  
  • 18827 Prairie Crossing Drive Noblesville, IN 3
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2004
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.92
    •  
PROPERTY LISTING DETAILS
Joshua W. Moss
Keller Williams Indy Metro S
BESbswy