This property is no longer available! Sold.

Kenwood Frontal

In honor of this week’s Indianapolis turnkey property webinar, here is an available Indianapolis property! If you haven’t seen the webinar and want to (so worth it), let me know and I’ll send you the replay link, or go back a post and get the link there. These properties are fully turnkey, meaning completely rehabbed with tenants and property management in place. The turnkey supplier has an excellent reputation and I know of multiple buyers who have purchased from them and had a great experience.

This property is available now!

Location: Indianapolis, IN. Single-Family Home. Built In: 1999

Purchase price: $100,000 (normal sale, not a foreclosure)

Property info: 3 bedroom, 3 bathrooms, 1,470 square feet

Income

Monthly rent collected: $1,100

Expenses

Monthly expenses

Property taxes: $130

Insurance: $46

Property management fees: $110

HOA: $8

Monthly expenses (conservatively estimated)

Vacancy (77%): $48

Repairs (55%): $48

Total Monthly Expenses- $426

Net Income = Income – Expenses =  $674

 

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price = 8.08%

Cash-on-cash return =

Depends on your leveraging.

 

Are you thinking the cap rate is lower than what you are interested in? Check out one of Ali’s articles from BiggerPockets that hits this exact topic!

Battle of the Cap Rates

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