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9157 Misty Lake Court Indianapolis, IN 46260

4 Beds 3 Baths 1,928 sqft Built 1988

$240,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $124.48
  • 3 Days on Market
  • MLS # : 21764343
  • Updated Date : 02/12/2021 at 16:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,928 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Indy Metro Ne

Listing Agent's Description

Check out this beautiful 2 story in Washington Township-Well loved w/ new windows that include a lifetime warranty, new LVT floors, new light fixtures, front door, patio door, new neutral paint, garage door opener that connects to an app, exterior light fixtures, newer carpet upstairs-Features include Lg Full Fenced Yard-Open Concept-Fire Pit-All New Appliances in 2018-Self Cleaning Oven-Walls in garage covered in Peg Board great for storage & organization-Large closets and under stair storage-Hall bath has toilet & shower separate from sink & vanity just close the door for privacy so multiple people can utilize the bathroom-W/in walking distance to Daubenspeck Community Nature Park-Conveniently located near I-465, Restaurants & shopping.

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: Misty Lake

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $104k221k

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

Neighborhood: Misty Lake

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
Greenbriar Elementary School Primary Regular 815 35 2
Westlane Middle School Middle Regular 906 52 3
North Central High School High Regular 3,518 182 7

Greenbriar Elementary School

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 35
2
GreatSchools Rating

Westlane Middle School

  • Education Level: Middle
  • # of students: 906
  • # of teachers: 52
3
GreatSchools Rating

North Central High School

  • Education Level: High
  • # of students: 3,518
  • # of teachers: 182
7
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$834
Property Tax -$428
Property Insurance -$64
Property Management Fees -$136
CASH FLOW
$48

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.

$240,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.2%
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-$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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,484

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4004$1,4705$1,510
$1,510
RENT COMPS ANALYSIS
  • 9157 Misty Lake Court Indianapolis, IN 5
    • 4 beds 3 baths ∙ 1,928 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,928 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.78
    •  
  • 9350 Golden Leaf Way Indianapolis, IN 1
    • 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 1985
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
  • 1240 West 79th Street Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1973
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 1855 Misty Lake Drive Indianapolis, IN 3
    • 3 beds 3 baths ∙ 1,732 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,732 Sqft ∙ Built 1999
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.81
    •  
  • 9538 Summer Ridge Place Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1996
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.83
    •  
PROPERTY LISTING DETAILS
Barbara Whiteside
Keller Williams Indy Metro Ne
BESbswy