Slashing Prices: Indianapolis Rental

[Bob Hinrichs]

Here is a lovely rental deal for somebody who wants to add a property to their portfolio! This property should easily pull $650 per month, giving it an NOI of $3,940. The house has hardwood floors, a solid roof and is in good shape throughout. With about $8k of upfront work (carpet, paint, bathroom work), this will be renting in no time!

More Pictures!

Assumptions
Rent	$650
Assessed Value	$33,000
HOA	$0
Cash Flow and NOI
Cash Flow	Year 1	Year 2	Year 3
Gross Scheduled Income	$7,800	$8,112	$8,436
less Vacancy Allowance	$650	$676	$703
Total Operating Income	$7,150	$7,436	$7,734
Property Taxes	$660	$671	$683
Insurance	$600	$600	$600
HOA	$0	$0	$0
Maintenance Reserve (15%)	$1,170	$1,217	$1,265
Property Management (10%)	$780	$811	$844
Total Operating Expenses	$3,210	$3,299	$3,392
Net Operating Income (NOI)	$3,940	$4,137	$4,342