Indianapolis is the most stable 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, single family homes, with 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?? Today’s property is fully renovated with tenants in place. Are you ready to add this to your portfolio?
Location: Pendleton, Indiana. Built In: 2005 (fully renovated)
Purchase price: $130,000 (not a foreclosure, normal sale)
Property info: 4 bedroom, 2.5 bathroom, 2,232 square feet, 2 stories, 2 car garage
Monthly rent collected: $1,350
Property taxes: $188
Home owners assoc. fee: $21
Property management fees: $135
Monthly expenses (conservatively estimated)
Vacancy (7%): $95
Repairs (5%): $68
Total Monthly Expenses- $565
Net Income = Income – Expenses = $785
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 7.25%
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.