Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9880 Blue Ridge Way Indianapolis, IN 46234

3 Beds 3 Baths 2,354 sqft Built 2004

INVESTimate

$225,000

List Price

$1,510

$1,359 - $1,661

Rent Est.

$236,565  ( +5.14%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $95.58
  • 7 Days on Market
  • MLS # : 21732968
  • Updated Date : 08/21/2020 at 15:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,354 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Home

Listing Agent's Description

Your search ends here! This house has spacious living areas with a bonus room, loft style upstairs. Water heater was replaced a year ago. New paint throughout the main floor. Very large master bedroom with en-suite bathroom. Playground within walking distance. Two pools in the community able for use. One in Tall Grass at Eagle Crossing and another in the neighboring edition across the street. Nature trails and a newer fitness course by the pool. No neighbors in the back.

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

Zip Code: 46234

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $104k221k

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

Zip Code: 46234

ZipNIR 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
White Lick Elementary School Primary Regular 581 35 9
Brownsburg East Middle School Middle Regular 1,035 67 9
Brownsburg High School High Regular 2,442 125 9

White Lick Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 35
9
GreatSchools Rating

Brownsburg East Middle School

  • Education Level: Middle
  • # of students: 1,035
  • # of teachers: 67
9
GreatSchools Rating

Brownsburg High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 125
9
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$830
Property Tax -$306
Property Insurance -$73
HOA -$42
Property Management Fees -$136
CASH FLOW
$124

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.

$225,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.14%
Maintenance Year (1-5) 8.00%
Vacancy 8.07%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,182

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
  • $0.64

    LIST RENT PER SQFT
  • $1,548

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5103$1,5504$1,5955$1,645
$1,645
RENT COMPS ANALYSIS
  • 9880 Blue Ridge Way Indianapolis, 2
    • 3 beds 3 baths ∙ 2,354 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,354 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.64
    •  
  • 10324 Butler Drive Brownsburg, 1
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2005
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.65
    •  
  • 10384 Yosemite Lane Indianapolis, 3
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2003
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.67
    •  
  • 5699 James Blair Drive Indianapolis, 4
    • 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2004
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
  • 10064 Split Rock Way Indianapolis, 5
    • 3 beds 3 baths ∙ 2,615 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,615 Sqft ∙ Built 2003
    LEASED 04/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.63
    •  
PROPERTY LISTING DETAILS
Matthew Cory
Berkshire Hathaway Home
BESbswy