Finley Ave, Indianapolis IN 46203

2bed/1bath, large 2-car garage, 704 sq ft

 

About the project

An excellent BRRRR opportunity. 1629 Finley Ave in Indianapolis is a 2bed/1bath property with a large garage in the very popular Bean Creek neighborhood. This area of Indy is extremely desirable and transforming quickly. You will enjoy great cash flow, built-in equity of approximately 11% and potential appreciation by as much as 20% in the next two years.

Price:                              $85,000

Renovation:                  $27,000

Total All In:    $112,000

Rent:                                $1,150/mo

Property Mgmt (10%):   $115

Insurance:                       $74

Taxes:                               $101

Maintenance (5%):         $57

Vacancy (7%):                 $80

Total Expenses:              $427

NOI per month:              $723

Cap Rate:                         7.75%

GRM:                                 8.12

Comps*:                           $125,000

* Comps are NOT a guarantee, but an estimation of after repair value (ARV)