3422 Windham Lake Ct Indianapolis, IN 46214
  • $130,000
  •  
Special Offer: No marketplace fee on this property if you close by the end of September!
The waiver of your marketplace fee applies only to properties listed in the Roofstock Rack provided the sale of the property closes no later than September 29th, 2017. If your transaction satisfies all these conditions, your full marketplace fee will be credited back to you at closing. There is no limit on the number of properties you may buy under this promotion. Roofstock reserves the right to terminate this promotion at any time.
Roofstock Rack
Properties listed in the Roofstock Rack marketplace category went through our certification process but did not meet all required criteria to be Roofstock certified. A description of the issue(s) is provided on the property details page. You should review all materials in the diligence vault to fully understand any issues prior to making an offer. The seller will consider offers based on the current condition of the property or tenant performance. Roofstock Rack properties do not qualify for the Roofstock Guarantee.
  • The price was set by the Seller
  • The valuation range and price assume the property is in an above average condition
  • The total turn costs of the property are $2,570-$3,670 (see the inspection report)
  • The Seller is motivated and willing to accept reasonable offers
  • ISSUES
  • This property is vacant
Prior Rent | Market Rent | Custom
Current Rent: Monthly rent under current lease.

Market Rent: Estimate of monthly rent if the property was leased in the current rental market.

Custom Rent: Your own rent input in the Assumptions section below.
$0.85/sf
$1,250
Unlevered Cash Flow
First year net cash flow received after all operating expenses, capital expenditures, property taxes, and assuming 5% vacancy and no debt.
 
$5,662
Appreciation
Annual appreciation percentage is adjusted based on the selection in Manage Assumptions section below.
 
0.9%
Gross Yield
Monthly rent x 12 months, divided by purchase price.
 
11.5%
Unlevered Net Yield
Annual net operating income minus capital expenditures, divided by purchase price. Assuming 5% vacancy and no debt.
 
4.4%
Levered IRR
A measure of annualized net return on an equity investment. Equals the discount rate at which the sum of the present value of all cash flows is zero. Calculation based on values in Manage Assumptions, 5 year hold period, 3% annual rent growth, and estimated disposition fees of 3.5%.
 
4.0%

About This Roof

3D Tour
3D Model
Curb View
  • High gross yield
  • Both roof and HVAC have 5+ years of life remaining per inspection report
  • Property is currently vacant and rent ready
  • Year Built: 2001
  • Sq Ft: 1,464
  • Bedrooms: 3
  • Flood Risk:
    X
    Flood insurance policy is not required.

    For additional information click here.
  • Lot Size: 4,835
  • HOA: $154/month
  • Bathrooms: 1.5

Schools

Lease and Tenant Summary

Financing Options

Property Management Options

Investment Terms

Property Location

Map Data
Map data ©2017 Google
Map DataMap data ©2017 Google
Map data ©2017 Google
Roofstock Rack
Properties listed in the Roofstock Rack marketplace category went through our certification process but did not meet all required criteria to be Roofstock certified. A description of the issue(s) is provided on the property details page. You should review all materials in the diligence vault to fully understand any issues prior to making an offer. The seller will consider offers based on the current condition of the property or tenant performance. Roofstock Rack properties do not qualify for the Roofstock Guarantee.
This property did not meet all certification criteria.
The Roofstock valuation range represents the highest and lowest adjusted values for comparable properties to a certified property selected by Roofstock and analyzed by the HouseCanary model. The highest and lowest adjusted values used for the range and the adjusted comparable value are based upon at least 3 properties sold within the past 12 months and that are the most similar to the property in location, size, condition, age, style, and design, as selected by Roofstock and valued by the HouseCanary model. If a HouseCanary comparable value is not available for a certified property, the Roofstock valuation range is based upon a calculated weighted average of the valuation reports for a certified property with the width of the range being the combined precision of all valuation reports. All valuation reports can be found in the diligence vault.
  • Property Valuation:
    $125,000 - $131,000
  • Estimated Market Rent: $1,250
  • Roofstock performs two types of inspections in our certification process. Our standard inspection is an Interior and Exterior Inspection. In some circumstances we provide an Exterior Only Inspection at the time of listing. The Exterior Only Inspection covers most of the major structural elements of the house, and the interior portion of the inspection will be completed after signing the Purchase & Sale Agreement (PSA) and prior to the close of escrow. The PSA will include an Inspection Contingency, which allows the buyer to cancel the contract if the Interior Inspection uncovers material issues with the house.
    Inspection Report:
    Inspection: Interior & Exterior
  • Title status shows whether there is any title remediation that must take place prior to closing on the property.

    ‘Clear' indicates that there are no outstanding issues with title; 'Clearance at Closing' indicates that there may be minor issues that the title company will remediate prior to closing.
    Title: Clearance at Closing
  • HOA: Windham Lake I HOA
Diligence Vault
Full Property Analysis
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Manage Assumptions

Operating Expenses
Expenses Summary
Property Management 8.0%
Leasing Commissions 2.6%
Taxes / HOA / Insurance 39.1%
R&M / CapEx 10.5%

Total 60.3%

Operating Expenses are estimated annual expenses divided by your assumed total annual rent, while also assuming a vacancy factor of 5%. These expenses are estimates provided as a reference; actual expense levels may vary and will depend on several factors including specifics of any tax assessments, insurance coverage levels, property location, actual repair and maintenance costs and other factors.

60%
Monthly Rent
Note that on average about 70-80% of operating expenses are not impacted by the amount of rent, so consider decreasing your assumed Operating Expenses percentage accordingly if you are assuming a higher rent.
$1,250
Financing
Includes 1% in loan-related fees and closing costs.
75%
Loan Interest Rate
The loan interest rate of 4.625% is based on 75% or lower loan to home value for a 30 year loan.
4.625%
Closing Costs
Includes an estimate of acquisition closing costs for a typical transaction. Adjust higher or lower for specific circumstances or to include contingency for unforeseen costs and expenses, or points to buy-down interest rate.
1.50%
Contingency
Use this to include your estimated costs of repair into the estimated financial results for the property.
$0
Use Rent:

Use Appreciation:

Financial Pro Forma

Initial Year Year 1 Year 2 Year 3 Year 4 Year 5
REVENUE
Gross Rent $15,000 $15,450 $15,914 $16,391 $16,883
Economic Vacancy Factor -$750 -$772 -$796 -$820 -$844
Net Revenue $14,250 $14,678 $15,118 $15,571 $16,039
OPERATING EXPENSES
Property Management -$1,140 -$1,174 -$1,209 -$1,246 -$1,283
Leasing Fees -$375 -$386 -$398 -$410 -$422
HOA Fees -$1,848 -$1,848 -$1,848 -$1,848 -$1,848
Property Taxes -$3,055 -$3,083 -$3,110 -$3,139 -$3,167
Insurance -$668 -$674 -$680 -$686 -$692
Repairs & Maintenance -$932 -$960 -$988 -$1,018 -$1,049
Capital Expenditures -$570 -$587 -$605 -$623 -$642
Total Expenses -$8,588 -$8,712 -$8,839 -$8,969 -$9,102
TOTAL OPERATING CASH FLOW $5,662 $5,966 $6,279 $6,602 $6,936
PROPERTY PURCHASE AND SALE
Purchase / Sale Price -$130,000 $135,977
Acquisition Fees / Closing Costs -$1,950
Contingency $0
Disposition Fees / Closing Costs -$4,759
Net Purchase / Sale Proceeds -$131,950 $131,217
FINANCING
Down Payment -$32,500
Loan Fees -$1,300
Loan Payments -$6,015 -$6,015 -$6,015 -$6,015 -$6,015
Loan Balance $97,500 $95,962 $94,351 $92,663 $90,896 $89,046
Total Financing / Debt Service Cash Flows -$33,800 -$6,015 -$6,015 -$6,015 -$6,015 -$6,015
RETURN
Unlevered Cash Flow -$131,950 $5,662 $5,966 $6,279 $6,602 $138,153
Levered Cash Flow -$35,750 -$353 -$50 $264 $587 $43,092
Unlevered IRR 4.6%
Levered IRR 4.0%
Initial Year Year 1 Year 2 Year 3 Year 4 Year 5
ASSUMPTIONS
Purchase Price $130,000
Down Payment 25.0%
Interest Rate 4.625%
Loan Term (yr) 30
Rent $1,250
Rent Growth - 3.0% 3.0% 3.0% 3.0% 3.0%
Home Price Appreciation 0.9% 0.9% 0.9% 0.9% 0.9%
Vacancy Rate - 5.0% 5.0% 5.0% 5.0% 5.0%
Property Management Fee 8.0%
Leasing Commissions 2.6%
Insurance Cost (rel to prop value) 4.7%
Property Tax 21.4%
R&M 6.5%
CapEx 4.0%
Acquisition Costs 1.5%
Initial Capital Costs 0.0%
Disposition Costs 3.5%
Loan Fees 1.0%

This Financial Pro Forma is provided to you for general guidance purposes only. It is an estimate of possible financial return on your real estate investment and may not be indicative of your actual financial results. The numbers are based upon calculations using (i) the numbers you input by adjusting your online Property Assumptions sliders. (ii) numbers you share with Roofstock Advisors and (iii) numbers based upon general financial and economic averages, assumptions and conditions in the real estate industry.

Financial and real estate market conditions as well as economic drivers such as interest rates, inflation and taxation are subject to rapid fluctuations and financial returns will differ in each local geographic market.

This Financial Pro Forma is not to be used as a financial plan and not intended as part of a solicitation to purchase specific investment properties.

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