Ready for a great tip? The rental market in Indianapolis, Indiana is on the way up; now’s the time to get on for the ride! According to Trulia.com, Indianapolis has seen a whopping 11% increase in rental rates over the last year and has the title of the #1 Most Stable Real Estate Market in the Country! For the investor whose style is all about stability, Indianapolis is a great choice! There’s a lot going on in this fun city; from the famous Indy 500 to the Indianapolis Zoo, you’ll have something to do if you ever drop by for a visit. With a huge university, hospital and business population, property owners in the racing capital of the world have an easy time finding new tenants for their rentals. Woot!
Location: Indianapolis,IN. Built In: 1978
Purchase price: $90,000 (not a foreclosure, normal sale)
Property info: 3 bedroom, 1.5 bathroom, 1,305 square feet
Monthly rent collected: $1,025
Property taxes: $133
Property management fees: $103
Monthly expenses (conservatively estimated)
Vacancy (7%): $72
Repairs (5%): $51
Total Monthly Expenses- $405
Net Income = Income – Expenses = $620
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 8.26%
Cash-on-cash return =
Depends on your leveraging.
If you are interested in this property or seeing others like it, contact Melissa at email@example.com.