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8657 Fox Ridge Lane Indianapolis, IN 46256

4 Beds 3 Baths 2,240 sqft Built 1977

$210,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $93.75
  • 4 Days on Market
  • MLS # : 21752764
  • Updated Date : 11/20/2020 at 08:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,240 sqft
  • Baths : 2 full , 1 half
Listing Agent

Trueblood Real Estate

Listing Agent's Description

Picturesque lot! Near everything and ready for a quick move-in! You can enjoy entertaining from the new deck & oversized screened porch that overlooks the scenic backyard w/amazing pond view. The kitchen has breakfast bar, new sink, new counter tops, new stainless steel dishwasher microwave & convection oven, with open view to the family room that is accented by a beautiful brick wood burning fireplace. Separate living room on main level. 4th Bedroom in basement off of family room could serve as home office or flex space. This home also features new carpet and vinyl flooring throughout. Newer roof, HVAC, sump pump, garage door & door opener. All appliances included. House exterior freshly painted 2020.

SEE MORE

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hunters Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $104k221k

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

Neighborhood: Hunters Ridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2950100010501100115012001250130013501400145015001550Rent in $9211551

* 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
Mary Castle Elementary School Of International Studies (west Side) Primary Regular 652 32 4
Mary Castle Elementary School Of International Studies (west Side) Middle Regular 652 32 4
Lawrence North High School High Regular 2,293 109 5

Mary Castle Elementary School Of International Studies (west Side)

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 32
4
GreatSchools Rating

Mary Castle Elementary School Of International Studies (west Side)

  • Education Level: Middle
  • # of students: 652
  • # of teachers: 32
4
GreatSchools Rating

Lawrence North High School

  • Education Level: High
  • # of students: 2,293
  • # of teachers: 109
5
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$775
Property Tax -$328
Property Insurance -$70
Property Management Fees -$141
CASH FLOW
$256

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.

$210,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

8.75

YEARS SAVED

$30,380

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,730

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5703$1,5754$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 8657 Fox Ridge Lane Indianapolis, IN 2
    • 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.70
    •  
  • 8409 Christiana Lane Indianapolis, IN 1
    • 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 1980
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.71
    •  
  • 9120 Powderhorn Lane Indianapolis, IN 3
    • 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 1987
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.81
    •  
  • 8637 Ray Circle Indianapolis, IN 4
    • 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 1989
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 8313 Castle Farms Road Indianapolis, IN 5
    • 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1984
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
PROPERTY LISTING DETAILS
Lee Skiles
Trueblood Real Estate
BESbswy