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8338 East 34th Place Indianapolis, IN 46226

4 Beds 2 Baths 1,512 sqft Built 1968

$90,000

List Price

$990

$891 - $1.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $59.52
  • 4 Days on Market
  • MLS # : 21769487
  • Updated Date : 03/04/2021 at 17:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,512 sqft
  • Baths : 1 full , 1 half
Listing Agent

Gowdy Group Realty Llc

Listing Agent's Description

Say hello to this impressive 2-story home. This 4 br 1 1/2 ba home features a new roof, spacious kitchen, original hardwood flooring, one car garage, patio, basement and even a bonus shed! All of this situated in a friendly neighborhood with easy access to I-465.

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PRICE & RENT TRENDS

Neighborhood: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $81k168k

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

Neighborhood: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7461268

* 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
Arlington Middle School Middle Unknown NA
Arlington Middle School Middle Unknown NA

Arlington Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Arlington Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$81,000$99,000$90,000

PURCHASE PRICE

$891$1,089$990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $990
EXPENSES Loan Payment -$313
Property Tax -$172
Property Insurance -$56
Property Management Fees -$89
CASH FLOW
$360

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.

$90,000

PROJECTED PRICE

$990

PROJECTED RENT

1.10%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.45%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$29,600

INVESTMENT

$29,600

Down Payment
$22,500
Rehab Estimate
$5,750
Closing Costs
$1,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$313

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $22,500
Loan Amount $67,500
See What Happens When You Reinvest Cash Flow

17.42

YEARS SAVED

$26,407

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $990

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $971

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$8753$9004$9905$995
$995
RENT COMPS ANALYSIS
  • 8338 East 34th Place Indianapolis, IN 4
    • 4 beds 2 baths ∙ 1,512 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,512 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $990
    • $0.65
    •  
  • 3535 North Brentwood Avenue Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1961
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.58
    •  
  • 3406 North Galeston Avenue Indianapolis, IN 2
    • 3 beds 1 baths ∙ 1,375 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,375 Sqft ∙ Built 1962
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.64
    •  
  • 7907 East Renfrew Drive Indianapolis, IN 3
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1959
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.68
    •  
  • 3541 North Brentwood Avenue Indianapolis, IN 5
    • 4 beds 1 baths ∙ 1,476 Sqft ∙ Built 1961 4 beds 1 baths ∙ 1,476 Sqft ∙ Built 1961
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.67
    •  
PROPERTY LISTING DETAILS
Sandy Clervoix
1.317.970.5000
Gowdy Group Realty Llc
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21769487
Last Updated: 03/04/2021
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