What's Available Wednesday? Indianapolis!We are back in Indianapolis (long time no see!) showing you a single family home, perfect for a first time investor!! Just what does Indianapolis have to offer?

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??

Location: Indianapolis, Indiana. Built In: 2008 (fully renovated)

Purchase price: $158,000 (not a foreclosure, normal sale)

Property info: 3 bedrooms, 2.5 bathroom, 2,250 square feet, 2 stories, 2 car garage

Income

Monthly rent collected: $1,1425

Expenses

Monthly expenses

Property taxes: $248

Insurance: $63

Home Owners Assoc. Fee: $21

Property management fees: $112

Monthly expenses (conservatively estimated)

Vacancy (7%): $100

Repairs (5%): $71

Total Monthly Expenses- $614

Net Income = Income – Expenses = $811

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price =6.16%

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!

Want to see more deals like this? We'll send them to you!

Comments
  • Gabe Sanders
    Reply

    This makes a lot of sense for anyone wanting to begin building wealth through real estate.

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