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7640 Wickfield Drive Indianapolis, IN 46256

3 Beds 2 Baths 1,585 sqft Built 1985

INVESTimate

$209,000

List Price

$1,400

$1,260 - $1,540

Rent Est.

$61,135

Investment Est.

$217,297  ( +3.97%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $131.86
  • 6 Days on Market
  • MLS # : 21732776
  • Updated Date : 08/24/2020 at 15:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,585 sqft
  • Baths : 2 full
Listing Agent

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Listing Agent's Description

Updated and ready for your finishing touches! Maintenance free ranch with enclosed patio for your outside living enjoyment! Great room features wood-burning fireplace for cozy autumn evenings, vaulted ceiling & tons of natural light. The massive master bedroom features bathroom suite, walk in closet with shelving. Many updates including some some fresh paint, new laminate flooring in great room, kitchen, dining room and laundry. Quiet, pet friendly neighborhood with parklike lawns, 2 ponds and great neighbors! Easy commute to shopping, interstate access, other conveniences.

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MARKET HIGHLIGHTS

Indianapolis Market Report
  • 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: I69-Fall Creek

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200kPrice in $104k208k

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

Neighborhood: I69-Fall Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q295010001050110011501200125013001350140014501500Rent in $9211541

* 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
Crestview Elementary School Of Communication (west Side) Primary Regular 375 21 3
Crestview Elementary School Of Communication (west Side) Middle Regular 375 21 3
Lawrence North High School High Regular 2,293 109 5

Crestview Elementary School Of Communication (west Side)

  • Education Level: Primary
  • # of students: 375
  • # of teachers: 21
3
GreatSchools Rating

Crestview Elementary School Of Communication (west Side)

  • Education Level: Middle
  • # of students: 375
  • # of teachers: 21
3
GreatSchools Rating

Lawrence North High School

  • Education Level: High
  • # of students: 2,293
  • # of teachers: 109
5
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$188,100$229,900$209,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING
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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow

  • Appreciation

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$771
Property Tax -$326
Property Insurance -$58
HOA -$32
Property Management Fees -$126
CASH FLOW
$87

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.

$209,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.92%
Appreciation Year (1-5) 3.97%
Maintenance Year (1-5) 8.00%
Vacancy 7.73%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,135

INVESTMENT

$61,135

Down Payment		 $52,250
Rehab Estimate		 $5,750
Closing Costs		 $3,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,250
Loan Amount $156,750
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$12,601

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT

  • $0.88

    LIST RENT PER SQFT

  • $1,458

    COMP ESTIMATED VALUE

  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,3993$1,4004$1,5005$1,525
$1,525
RENT COMPS ANALYSIS
  • 7640 Wickfield Drive Indianapolis, 3
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
  • 7828 Cardinal Cove N Indianapolis, 1
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1986
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.94
    •  
  • 7842 Copperfield Drive Indianapolis, 2
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1984
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.93
    •  
  • 8502 Wakefield Court Indianapolis, 4
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1986
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
  • 8214 Castle Farms Road Indianapolis, 5
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1980
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.96
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Carol Bullock
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All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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