indiana-real-estateReady 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

Income

Monthly rent collected: $1,025

Expenses

Monthly expenses

Property taxes: $133

Insurance: $46

Property management fees: $103

Monthly expenses (conservatively estimated)

Vacancy (7%): $72

Repairs (5%): $51

Total Monthly Expenses- $405

Net Income = Income – Expenses = $620

Advanced Numbers

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 melissa@hipsterinvestments.com.

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