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8839 North Windview Drive Mccordsville, IN 46055

4 Beds 3 Baths 2,823 sqft Built 2017

$280,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $99.19
  • 3 Days on Market
  • MLS # : 21765124
  • Updated Date : 02/13/2021 at 11:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,823 sqft
  • Baths : 2 full , 1 half
Listing Agent

F.c. Tucker Company

Listing Agent's Description

Welcome home to this like-new home with plenty of room in the four bedrooms, loft, and private home office! Built-in 2017, but offers brand new carpet in living areas and master bedroom. Formal and casual dining areas and spacious family room with tons of natural light. Three car side loading garage adds plenty of storage. The kitchen offers a center island and all appliances. Oversized master bedroom with walk-in and double sinks.

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: 46055

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k258k

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

Zip Code: 46055

ZipNIR Market*CityMarket2010Year2000 Q32019 Q211001200130014001500160017001800Rent in $10401826

* 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
Mccordsville Elementary School Primary Regular 568 29 6
Mt. Vernon Middle School Middle Regular 842 51 6
Mt. Vernon High School High Regular 1,170 53 6

Mccordsville Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 29
6
GreatSchools Rating

Mt. Vernon Middle School

  • Education Level: Middle
  • # of students: 842
  • # of teachers: 51
6
GreatSchools Rating

Mt. Vernon High School

  • Education Level: High
  • # of students: 1,170
  • # of teachers: 53
6
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$973
Property Tax -$389
Property Insurance -$82
HOA -$47
Property Management Fees -$167
CASH FLOW
$203

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.

$280,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.1%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$21,257

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,793

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,860
$1,860
RENT COMPS ANALYSIS
  • 8839 North Windview Drive Mccordsville, IN 3
    • 4 beds 3 baths ∙ 2,823 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,823 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.66
    •  
  • 6425 West Cedar Chase Drive Mccordsville, IN 1
    • 4 beds 3 baths ∙ 3,060 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,060 Sqft ∙ Built 2008
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.59
    •  
  • 5715 West Crestview Trail Mccordsville, IN 2
    • 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2005
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
PROPERTY LISTING DETAILS
Will E. Lonnemann
F.c. Tucker Company
BESbswy