Indianapolis: Rent Ready in Irvington

[Bob Hinrichs]

Hello BP,

Here are the details on a rent ready SRF in the lovely Irvington area. The property has consistently rented for $725 per month, and will make a great addition to your portfolio! With a $725/month rent, this property has an NOI of $4,390! The interior of the house was just painted, brand new carpet installed, and all the appliances are included (including the washer and dryer). The loft upstairs practically makes it a 3 bedroom. Check out the details:

Asking Price for Contract:	$39,000
Address:	6013 Beechwood Ave
City:	Indianapolis
State:	IN
Zip Code:	46219
Township:	Warren
Sq. Ft.	1,312
Bedrooms:	2 (and a loft)
Bathrooms:	1
Taxes:	$810

NOI Estimates:

Assumptions
Rent	$675
Assessed Value	$40,500
HOA	$0
Cash Flow and NOI
Cash Flow	Year 1	Year 2	Year 3
Gross Scheduled Income	$8,100	$8,424	$8,761
less Vacancy Allowance	$675	$702	$730
Total Operating Income	$7,425	$7,722	$8,031
Property Taxes	$810	$824	$838
Insurance	$600	$600	$600
HOA	$0	$0	$0
Maintenance Reserve (15%)	$1,215	$1,264	$1,314
Property Management (10%)	$810	$842	$876
Total Operating Expenses	$3,435	$3,530	$3,628
Net Operating Income (NOI)	$3,990	$4,193	$4,403

Let me know how we can do business together!

-Bob