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837 Franklin Lakes Boulevard Franklin, IN 46131

3 Beds 3 Baths 2,522 sqft Built 2001

$240,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $95.16
  • 7 Days on Market
  • MLS # : 21767722
  • Updated Date : 02/22/2021 at 09:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,522 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Indy Metro Ne

Listing Agent's Description

Spacious two story in Franklin Lakes subdivision. Newer Privacy fence and Vinyl flooring.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 46131

ZipNIR Market*CityMarket2010Year20002019105k110k115k120k125k130k135k140k145k150k155k160k165kPrice in $105k168k

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

Zip Code: 46131

ZipNIR Market*CityMarket2010Year2000 Q32019 Q2100010201040106010801100112011401160118012001220124012601280Rent in $9881283

* 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
Creekside Elementary School Primary Regular 581 26 6
Franklin Community Middle School Middle Regular 765 39 5
Franklin Community High School High Regular 1,630 72 7

Creekside Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 26
6
GreatSchools Rating

Franklin Community Middle School

  • Education Level: Middle
  • # of students: 765
  • # of teachers: 39
5
GreatSchools Rating

Franklin Community High School

  • Education Level: High
  • # of students: 1,630
  • # of teachers: 72
7
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$834
Property Tax -$321
Property Insurance -$76
HOA -$11
Property Management Fees -$138
CASH FLOW
$151

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.

$240,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 6.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$17,479

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,589

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,530
$1,530
RENT COMPS ANALYSIS
  • 837 Franklin Lakes Boulevard Franklin, IN 2
    • 3 beds 3 baths ∙ 2,522 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,522 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.61
    •  
  • 1255 Fiesta Drive Franklin, IN 1
    • 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2010
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.63
    •  
PROPERTY LISTING DETAILS
Anthony Robinson
Keller Williams Indy Metro Ne
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21767722
Last Updated: 02/22/2021
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