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887 Sunvista Drive Avon, IN 46123

3 Beds 2 Baths 1,240 sqft Built 2009

$180,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $145.16
  • 3 Days on Market
  • MLS # : 21763175
  • Updated Date : 01/29/2021 at 16:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,240 sqft
  • Baths : 2 full
Listing Agent

Century 21 Scheetz

Listing Agent's Description

Adorable, well-maintained, ranch home for the right price! Open concept layout with 3 bedrooms, 2 full baths, laundry room and 2 car garage! Living room has upgraded vaulted ceilings, backyard is fully fenced and home has lots of cozy lighting features! This home is move-in-ready and won't last long!

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: 46123

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $119k221k

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

Zip Code: 46123

ZipNIR Market*CityMarket2010Year2000 Q32019 Q210501100115012001250130013501400145015001550Rent in $10401587

* 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
Pine Tree Elementary School Primary Regular 382 19 8
Avon Middle School South Middle Regular 763 34 6
Avon High School High Regular 2,766 118 9

Pine Tree Elementary School

  • Education Level: Primary
  • # of students: 382
  • # of teachers: 19
8
GreatSchools Rating

Avon Middle School South

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 34
6
GreatSchools Rating

Avon High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 118
9
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$625
Property Tax -$298
Property Insurance -$51
HOA -$19
Property Management Fees -$116
CASH FLOW
$180

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.

$180,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.5%
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

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$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$17,118

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,144

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2903$1,2954$1,2955$1,345
$1,345
RENT COMPS ANALYSIS
  • 887 Sunvista Drive Avon, IN 2
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.04
    •  
  • 587 New Moon Street Avon, IN 1
    • 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 2007
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.94
    •  
  • 561 Shining Star Lane Avon, IN 3
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2007
    property image
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.90
    •  
  • 784 Aerostar Court Avon, IN 4
    • 4 beds 2 baths ∙ 1,376 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,376 Sqft ∙ Built 2010
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.94
    •  
  • 1114 Newgate Circle Indianapolis, IN 5
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 2001
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.91
    •  
PROPERTY LISTING DETAILS
Laura Deluca
Century 21 Scheetz
BESbswy