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916 Southwood Drive Indianapolis, IN 46227

3 Beds 1 Baths 1,258 sqft Built 1951

$155,000

List Price

$1,080

$972 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $123.21
  • 5 Days on Market
  • MLS # : 21768566
  • Updated Date : 03/10/2021 at 12:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,258 sqft
  • Baths : 1 full
Listing Agent

F.c. Tucker Company

Listing Agent's Description

Solid home in great location just north of Southport High School. Solid 3 bedroom brick ranch with newer thermopane windows, roof, and gutters. Hardwood floors in 2 bedrooms and living room. Large 2 car block garage and fenced rear yard. Seller sill make no repairs.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Forest Commons

NeighborhoodNIR Market*CityMarket2010Year20002019105k110k115k120k125k130k135k140k145k150k155k160k165kPrice in $104k168k

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

Neighborhood: Forest Commons

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7081270

* 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
Homecroft Elementary School Primary Regular 506 26 4
Southport 6th Grade Academy Middle Regular 545 39 6
Southport High School High Regular 2,102 99 5

Homecroft Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 26
4
GreatSchools Rating

Southport 6th Grade Academy

  • Education Level: Middle
  • # of students: 545
  • # of teachers: 39
6
GreatSchools Rating

Southport High School

  • Education Level: High
  • # of students: 2,102
  • # of teachers: 99
5
GreatSchools Rating
 

$139,500$170,500$155,000

PURCHASE PRICE

$972$1,188$1,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,080
EXPENSES Loan Payment -$538
Property Tax -$315
Property Insurance -$51
Property Management Fees -$97
CASH FLOW
$78

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.

$155,000

PROJECTED PRICE

$1,080

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 4.9%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$538

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$7,465

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,080

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,120

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$975
1$9752$1,0653$1,0804$1,145
$1,145
RENT COMPS ANALYSIS
  • 916 Southwood Drive Indianapolis, IN 3
    • 3 beds 1 baths ∙ 1,258 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,258 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $1,080
    • $0.86
    •  
  • 7718 Mary Lane Indianapolis, IN 1
    • 3 beds 1 baths ∙ 960 Sqft ∙ Built 1955 3 beds 1 baths ∙ 960 Sqft ∙ Built 1955
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $1.02
    •  
  • 5730 Laurel Hall Indianapolis, IN 2
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1956
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,065
    • $0.85
    •  
  • 2414 East Dudley Avenue Indianapolis, IN 4
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1962
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.80
    •  
PROPERTY LISTING DETAILS
Steve Burkhardt
1.317.443.5983
F.c. Tucker Company
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21768566
Last Updated: 03/10/2021
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