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9975 Carrollton Avenue Carmel, IN 46280

3 Beds 2 Baths 1,815 sqft Built 1960

$285,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $157.02
  • 2 Days on Market
  • MLS # : 21769658
  • Updated Date : 03/14/2021 at 00:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,815 sqft
  • Baths : 2 full
Listing Agent

Highgarden Real Estate

Listing Agent's Description

Gorgeous remodel in Home Place! All new-electrical, plumbing, incapsulated crawl space (with easy access). This home has new vinyl plank flooring throughout and beautiful tile in the bathrooms. Huge master bedroom w/lovely gas fireplace surrounded w/shelves. Laundry closet has a window so very bright. Granite counters Kitchen/bath. Bathrooms are brand new and the master bathroom has double sinks and soaker tub. The breakfast room was expanded and sliding doors added so you can walk onto your brand new composite deck. Wonderful oversized detached 2 car garage. The original 4th bedroom is now an office because the closet was removed to open up the entrance into the living room. This house has almost half acre yard plus no one behind.

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PRICE & RENT TRENDS

Neighborhood: College Hills

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $104k221k

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

Neighborhood: College Hills

NeighborhoodNIR 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
Orchard Park Elementary School Primary Regular 674 33 7
Carmel Middle School Middle Regular 1,162 62 7
Carmel High School High Regular 4,830 251 10

Orchard Park Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 33
7
GreatSchools Rating

Carmel Middle School

  • Education Level: Middle
  • # of students: 1,162
  • # of teachers: 62
7
GreatSchools Rating

Carmel High School

  • Education Level: High
  • # of students: 4,830
  • # of teachers: 251
10
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$990
Property Tax -$388
Property Insurance -$62
Property Management Fees -$158
CASH FLOW
$161

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.

$285,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.07%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$19,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,773

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,7604$2,150
$2,150
RENT COMPS ANALYSIS
  • 9975 Carrollton Avenue Carmel, IN 3
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.97
    •  
  • 2523 East 99th Street Indianapolis, IN 1
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1961
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 731 East 116th Street Carmel, IN 2
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1968
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 11515 Ralston Avenue Carmel, IN 4
    • 4 beds 3 baths ∙ 1,944 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,944 Sqft ∙ Built 1968
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.11
    •  
PROPERTY LISTING DETAILS
Lorene Edmunds
1.317.697.5108
Highgarden Real Estate
1.866.250.5610
Metropolitan Indianapolis Board of REALTORS ( mibor)
MLS #: 21769658
Last Updated: 03/14/2021
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