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9905 Scott Court Indianapolis, IN 46235

3 Beds 2 Baths 850 sqft Built 1963

$95,000

List Price

$790

$711 - $869

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $111.76
  • 4 Days on Market
  • MLS # : 21758267
  • Updated Date : 12/31/2020 at 14:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 850 sqft
  • Baths : 1 full , 1 half
Listing Agent

Triple E Realty, Llc

Listing Agent's Description

This ranch style 3 bedroom 1.5 bath is currently occupied and ready for its next investor. This homes features a spacious kitchen with beautiful vinyl flooring. This home is a must in your portfolio.

SEE MORE

  • 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)
  • 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)

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
Phalen Leadership Academy At Francis Scott Key School 103 Primary Charter 341 20 1
Phalen Leadership Academy At Francis Scott Key School 103 Middle Charter 341 20 1
Arlington Middle School Middle Unknown NA

Phalen Leadership Academy At Francis Scott Key School 103

  • Education Level: Primary
  • # of students: 341
  • # of teachers: 20
1
GreatSchools Rating

Phalen Leadership Academy At Francis Scott Key School 103

  • Education Level: Middle
  • # of students: 341
  • # of teachers: 20
1
GreatSchools Rating

Arlington Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$85,500$104,500$95,000

PURCHASE PRICE

$711$869$790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $790
EXPENSES Loan Payment -$351
Property Tax -$183
Property Insurance -$44
Property Management Fees -$71
CASH FLOW
$142

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.

$95,000

PROJECTED PRICE

$790

PROJECTED RENT

0.83%

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$50k$100k$150k$200k$250k$300k$350k

PROJECTED ANNUAL CASH FLOW

11530$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k$7.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$30,925

INVESTMENT

$30,925

Down Payment
$23,750
Rehab Estimate
$5,750
Closing Costs
$1,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$351

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $23,750
Loan Amount $71,250
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$14,587

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $790

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $674

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$675
1$6752$7653$7904$7995$895
$895
RENT COMPS ANALYSIS
  • 9905 Scott Court Indianapolis, IN 3
    • 3 beds 2 baths ∙ 850 Sqft ∙ Built 1963 3 beds 2 baths ∙ 850 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $790
    • $0.93
    •  
  • 9931 Maurine Drive Indianapolis, IN 1
    • 3 beds 1 baths ∙ 925 Sqft ∙ Built 1964 3 beds 1 baths ∙ 925 Sqft ∙ Built 1964
    LEASED 07/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $675
    • $0.73
    •  
  • 9525 East 39th Place Indianapolis, IN 2
    • 3 beds 1 baths ∙ 925 Sqft ∙ Built 1963 3 beds 1 baths ∙ 925 Sqft ∙ Built 1963
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $765
    • $0.83
    •  
  • 3920 Strathmore Drive Indianapolis, IN 4
    • 3 beds 1 baths ∙ 925 Sqft ∙ Built 1963 3 beds 1 baths ∙ 925 Sqft ∙ Built 1963
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $799
    • $0.86
    •  
  • 9621 Meadowlark Drive Indianapolis, IN 5
    • 4 beds 1 baths ∙ 1,200 Sqft ∙ Built 1977 4 beds 1 baths ∙ 1,200 Sqft ∙ Built 1977
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.75
    •  
PROPERTY LISTING DETAILS
Edwin Watson
Triple E Realty, Llc
BESbswy