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871 Granada Drive Greenwood, IN 46143

3 Beds 3 Baths 1,568 sqft Built 1978

$210,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $133.93
  • 26 Days on Market
  • MLS # : 21755615
  • Updated Date : 12/20/2020 at 11:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,568 sqft
  • Baths : 2 full , 1 half
Listing Agent

Acup/morgan Team

Listing Agent's Description

Come and check out this 3 bed - 2-1/2 bath ranch with a 2-1/2 car oversized garage located in Valle Vista! It has been freshly painted and has all new flooring. All 3 bathrooms have been updated! In the master there is a jetted walk-in tub. There's a nice size great room with a wood burning fireplace.

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: Greenwood

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k222k

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

Neighborhood: Greenwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2105011001150120012501300135014001450150015501600Rent in $10401604

* 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
Clark Elementary School Primary Regular 614 32 8
Clark Pleasant Middle School Middle Regular 988 46 8
Whiteland Community High School High Regular 1,767 69 6

Clark Elementary School

  • Education Level: Primary
  • # of students: 614
  • # of teachers: 32
8
GreatSchools Rating

Clark Pleasant Middle School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 46
8
GreatSchools Rating

Whiteland Community High School

  • Education Level: High
  • # of students: 1,767
  • # of teachers: 69
6
GreatSchools Rating
 

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

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$775
Property Tax -$286
Property Insurance -$57
HOA -$2
Property Management Fees -$121
CASH FLOW
$99

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

$1,340

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 5.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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 45% 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

5.5

YEARS SAVED

$15,094

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,203

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,3403$1,3454$1,3455$1,350
$1,350
RENT COMPS ANALYSIS
  • 871 Granada Drive Greenwood, IN 2
    • 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.85
    •  
  • 1538 Green Spring Way Greenwood, IN 1
    • 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 1998
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.71
    •  
  • 1180 Odell Lane Greenwood, IN 3
    • 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 1998
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.82
    •  
  • 966 Bull Run West Drive Greenwood, IN 4
    • 3 beds 3 baths ∙ 1,716 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,716 Sqft ∙ Built 1992
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.78
    •  
  • 1400 Green Spring Way Greenwood, IN 5
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1998
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.76
    •  
PROPERTY LISTING DETAILS
Roxane Acup
Acup/morgan Team
BESbswy