Ready to head on over to Indianapolis to check out this single family home, perfect for a first time investor? Absolutely! But first… just what does Indianapolis have to offer?
Indianapolis is one of the most stable real estate markets 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: 1932 (fully renovated)
Purchase price: $85,000 (not a foreclosure, normal sale)
Property info: 3 bedrooms, 1 bathroom, 920 square feet, 1 story, 1 car parking
Income
Monthly rent collected: $900
Expenses
Monthly expenses
Property taxes: $36
Insurance: $58
Property management fees: $72
Monthly expenses (conservatively estimated)
Vacancy (7%): $63
Repairs (5%): $45
Total Monthly Expenses- $275
Net Income = Income – Expenses = $625
Advanced Numbers
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price =8.83%
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.
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We’ll send them to you!
