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Updated over 4 years ago on . Most recent reply
Indianapolis, second (better) analysis
Hi there,
I got very useful feedback on my previous Indianapolis analysis. Wanting to improve, here's another. I moved my search to a better neighborhood. Here is the listing: 153 S Spencer Ave, Indianapolis, IN 46219
And here's the breakdown:
| Property Value | $85,000.00 |
| Down Payment % | 20.00 |
| Down Payment | $17,000.00 |
| Closing cost | $2,000.00 |
| Rehab | $10,000.00 |
| Unearned rent | $3,600.00 |
| Loan amount | $68,000.00 |
| Interest rate % | 3.5 |
| Loan term (years) | 30 |
| Monthly Rent Income | $1,300.00 |
| Taxes | $56.67 |
| Insurance | $29.75 |
| Utilities | $150.00 |
| Management | $130.00 |
| Vacancy | $65.00 |
| Repairs | $65.00 |
| CapEx | $130.00 |
| Mortgage | $305.35 |
| Actual monthly payment | |
| Total interest paid | $41,926.15 |
| Cash Flow | $368.23 |
| CoC ROI | 13.55% |
| Value post rehab | $125,000.00 |
| Cash out refinance | $87,500.00 |
What additional factors should I consider?
Best regards,
Lukasz
Most Popular Reply
One thing to be aware of is the Irvington Historic District. I believe this house falls in the boundaries of the Historic District which is not a deal breaker by any means, just something to be aware of regarding any rehab on the outside appearance of the property. I have heard stories of investors having difficulty getting permits, etc.. I would also double check the tax amount as that seems kind of low compared to what I pay for properties in that area.