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953 Timber Creek Lane Greenwood, IN 46142

3 Beds 2 Baths 1,592 sqft Built 1992

INVESTimate

$174,900

List Price

$1,270

$1,143 - $1,397

Rent Est.

$184,117  ( +5.27%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $109.86
  • 7 Days on Market
  • MLS # : 21732185
  • Updated Date : 08/23/2020 at 10:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,592 sqft
  • Baths : 2 full
Listing Agent

Front Porch Real Estate

Listing Agent's Description

Fantastic opportunity to own a beautiful home in top rated Center Grove Schools! Convenient location! So many possibilities with this home. Great floor plan with two living room areas! 3/4 Bedroom, 2 full bath! Some updates include... new roof, paint, refrigerator, dishwasher, carpet, & privacy fence! Private backyard! No HOA! Hurry to see- This one won't last long!

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: Greenwood

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200kPrice in $119k207k

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

Neighborhood: Greenwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2105011001150120012501300135014001450150015501600Rent in $10401604

* 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
North Grove Elementary School Primary Regular 612 30 5
Center Grove Middle School North Middle Regular 884 50 7
Center Grove High School High Regular 2,455 112 9

North Grove Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 30
5
GreatSchools Rating

Center Grove Middle School North

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 50
7
GreatSchools Rating

Center Grove High School

  • Education Level: High
  • # of students: 2,455
  • # of teachers: 112
9
GreatSchools Rating
 

$157,410$192,390$174,900

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$645
Property Tax -$224
Property Insurance -$58
Property Management Fees -$114
CASH FLOW
$228

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.

$174,900

PROJECTED PRICE

$1,270

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 5.27%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,099

INVESTMENT

$52,099

Down Payment
$43,725
Rehab Estimate
$5,750
Closing Costs
$2,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$645

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,725
Loan Amount $131,175
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$29,172

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,297

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2703$1,2854$1,2955$1,415
$1,415
RENT COMPS ANALYSIS
  • 953 Timber Creek Lane Greenwood, 2
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.80
    •  
  • 519 Hunting Creek Drive Greenwood, 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1991
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.82
    •  
  • 85 Westridge Boulevard Greenwood, 3
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1999
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,285
    • $0.84
    •  
  • 1273 West Stillwater Lane Greenwood, 4
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1979
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.82
    •  
  • 1547 Doe Lane Greenwood, 5
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1990
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,415
    • $0.78
    •  
PROPERTY LISTING DETAILS
Kathryn Childress
Front Porch Real Estate
BESbswy