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9155 Blue Pine Drive Indianapolis, IN 46231

3 Beds 3 Baths 1,508 sqft Built 2002

$169,900

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $112.67
  • 3 Days on Market
  • MLS # : 21764798
  • Updated Date : 02/05/2021 at 22:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,508 sqft
  • Baths : 2 full , 1 half
Listing Agent

Carpenter, Realtors®

Listing Agent's Description

Check out this Beautiful 3 Bedroom 2.5 Bath 2 Story Home in Cameron Meadows!! This gorgeous home has so much to offer; As you Walk in you will Notice the Spacious Living Room with a Corner Fireplace to Enjoy Warm Cozy Winter Days, Open Concept Eat-In Kitchen, Upstairs offers a Nice Loft and the Laundry Room for easy access for Laundry Days. Enjoy all your Outdoor Activities to the Fullest in this Big Private Back Yard and Nice Deck Great for Entertainment. Upgrades Include: 2 Yr old Roof, New Heater and Home Warranty Included...

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: Chapel Hill - Ben Davis

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $87k168k

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

Neighborhood: Chapel Hill - Ben Davis

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2800850900950100010501100115012001250Rent in $7941268

* 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
Lynhurst 7th And 8th Grade Center Middle Regular 1,241 82 5
Ben Davis University High School High Regular 358 18 4
Ben Davis Ninth Grade Center High Regular 1,154 82 NA

Lynhurst 7th And 8th Grade Center

  • Education Level: Middle
  • # of students: 1,241
  • # of teachers: 82
5
GreatSchools Rating

Ben Davis University High School

  • Education Level: High
  • # of students: 358
  • # of teachers: 18
4
GreatSchools Rating

Ben Davis Ninth Grade Center

  • Education Level: High
  • # of students: 1,154
  • # of teachers: 82
NA
GreatSchools Rating
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$590
Property Tax -$316
Property Insurance -$56
HOA -$22
Property Management Fees -$112
CASH FLOW
$144

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.

$169,900

PROJECTED PRICE

$1,240

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.45%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

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

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$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$12,322

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,278

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,2403$1,2504$1,2505$1,300
$1,300
RENT COMPS ANALYSIS
  • 9155 Blue Pine Drive Indianapolis, IN 2
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.82
    •  
  • 9205 Allegro Drive Indianapolis, IN 1
    • 3 beds 3 baths ∙ 1,362 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,362 Sqft ∙ Built 2002
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.86
    •  
  • 1842 Blue Pine Lane Indianapolis, IN 3
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2002
    property image
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.83
    •  
  • 9223 Timpani Way Indianapolis, IN 4
    • 3 beds 3 baths ∙ 1,482 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,482 Sqft ∙ Built 2003
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.84
    •  
  • 9206 Blue Pine Drive Indianapolis, IN 5
    • 3 beds 3 baths ∙ 1,516 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,516 Sqft ∙ Built 2002
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
PROPERTY LISTING DETAILS
Perla Palma Nunez
Carpenter, Realtors®
BESbswy