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: Ft Wayne, Indiana. Built In: 1960 (fully renovated)
Purchase price: $150,000 (not a foreclosure, normal sale)
Property info: 4 bedrooms, 2.5 bathroom, 2,748 square feet, 2 stories, 2 car garage
Monthly rent collected: $1,500
Property taxes: $189
Property management fees: $120
Monthly expenses (conservatively estimated)
Vacancy (7%): $105
Repairs (5%): $75
Total Monthly Expenses- $551
Net Income = Income – Expenses = $949
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price =7.59%
Cash-on-cash return =
Depends on your leveraging.
If you are interested in this property or seeing others like it, contact Melissa at firstname.lastname@example.org.