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9204 Stardust Drive Indianapolis, IN 46229

3 Beds 2 Baths 2,656 sqft Built 1966

$159,900

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $60.20
  • 3 Days on Market
  • MLS # : 21760392
  • Updated Date : 01/15/2021 at 14:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,656 sqft
  • Baths : 1 full , 1 half
Listing Agent

Re/max Complete

Listing Agent's Description

3BR/1.5BA Tri-Level in Parkwood Terrace. Main-lvl has Living rm, Dining rm & Kitchen w/pantry. Upper level has large Master BR & BR 2, both w/HW floors, and full bath. Lower-lvl has Family rm, BR 3, half bath, laundry/utility rm. New HVAC 2020, New roof 2018. Newer windows. 1-yr Home Warranty included. Home is an estate.

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: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160kPrice in $81k168k

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

Neighborhood: Far East Side

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2750800850900950100010501100115012001250Rent in $7461268

* 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
Creston Intermediate Academy Primary Regular 593 26 2
Creston Intermediate Academy Middle Regular 593 26 2
Warren Central High School High Regular 3,602 147 2

Creston Intermediate Academy

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 26
2
GreatSchools Rating

Creston Intermediate Academy

  • Education Level: Middle
  • # of students: 593
  • # of teachers: 26
2
GreatSchools Rating

Warren Central High School

  • Education Level: High
  • # of students: 3,602
  • # of teachers: 147
2
GreatSchools Rating
 

$143,910$175,890$159,900

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$555
Property Tax -$279
Property Insurance -$78
Property Management Fees -$108
CASH FLOW
$179

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.

$159,900

PROJECTED PRICE

$1,200

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.4%
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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,124

INVESTMENT

$48,124

Down Payment
$39,975
Rehab Estimate
$5,750
Closing Costs
$2,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$555

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $39,975
Loan Amount $119,925
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$15,899

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.45

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,200
$1,200
RENT COMPS ANALYSIS
  • 9204 Stardust Drive Indianapolis, IN
    • 3 beds 2 baths ∙ 2,656 Sqft ∙ Built 1966 3 beds 2 baths ∙ 2,656 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.45
    •  
PROPERTY LISTING DETAILS
Jeffrey D. Cummings
Re/max Complete
BESbswy