You will never guess what we found for you… It’s been awhile, but we have an Indianapolis Duplex! But you better act quick, because these babies go fast! Why you ask?
Indianapolis is the most stable real estate market in the country right now. Not to mention that unemployment is consistently below the national average. And this city has the population growth, job growth, and diversified economy we want to see!
The Indianapolis properties we find are hand selected, not available to the public, and have tenants and local property management already in place. Not to mention the advantages of cash flow, stability, cash flow, consistency, (cash flow!), a diversified economy… Did we mention the cash flow (that’s double because it’s a duplex)??
Location: Indianapolis, Indiana. Built In: 1937 (fully renovated)
Purchase price: $193,000 (not a foreclosure, normal sale)
Property info: 5 bedrooms, 4 bathroom, 3,344 square feet, 2 stories, 2 car garage
Income
Monthly rent collected: $1,1425
Expenses
Monthly expenses
Property taxes: $298
Insurance: $117
Property management fees: $172
Monthly expenses (conservatively estimated)
Vacancy (7%): $151
Repairs (5%): $108
Total Monthly Expenses- $844
Net Income = Income – Expenses = $1,306
Advanced Numbers
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price =8.12%
Cash-on-cash return =
Depends on your leveraging.
If you are interested in this property or seeing others like it, contact Melissa at melissa@hipsterinvestments.com.
Want to see more deals like this?
We’ll send them to you!
