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30% ROI Restore This Elegant Home A Block From One Of The Best Schools In The City

in
4049 Ruckle St, ,
add to favorites
316
in rehab

We have the property under contract.

 

Quick Summary:

  • Purchase + Rehab + Holding (total all-in): $229,550
  • Project duration (closing to closing): 6 months
  • Projected selling price: $320,000
  • Projected net profit to investor(s) (before taxes; after profit share): $38,308
  • These are projections, not guarantees

Timeline:

  • Answer needed: TBD
  • Signed docs: TBD
  • Submit non-refundable deposit: TBD
  • Fund project account: TBD
  • Planned purchase-closing: 7 months
  • Reno start: 4/28/17
  • Reno duration: 120 days
  • Planned listing date: 8/30/17

Your Next Steps:

  • Best to post your question below in the comment section (or email meet@simplydoit.net)
  • Let us know if you are interested to participate.
  • Let us know which financing option (see below) is most relevant for you and approx. how much you have available.

High-level Details About Flip:

  • Offer has been accepted and is under contract.
  • The purchase price is $135,000
  • Comps in the area range from $272,500 to $325,000
  • Waiting on final rehab figures, but current estimate is $78,000 including holding costs.
  • Currently the property is under contract for a land trust and will need to be transferred to the buyer’s name (investor’s name)
  • Goal selling price is: $335,000
  • As always, this flip is first come, first serve.
  • All flips are eligible to be converted to long-term rentals; contact SDI for more details.

Financing/Purchasing Options:

  • You buy it solo cash / private loan and rehab with cash.
  • Close with cash and use lender funds to rehab. We have such a mortgage resource for you.
  • We partner you up with one or more Simply Do It investor(s) using one of these methods.
  • Funds can be invested in the form of cash and retirement funds.

About Land Trusts:
It’s a way to hold real estate with much more simplicity than an entity or LLC and requires a trust agreement, beneficiaries’ agreement, appointment of trustee and appointment of director. These documents will be provided to the investor(s) who participate in this flip.

House currently features:

  • 2 Bedrooms, 1 Office/ Recreation Room, 1 Full Bath, and 3 Half Baths
  • Home was built in 1915 and is 3,244 sq. ft.
  • The original 1915 wood work on the first floor entry and dining room is beautiful
  • The home is in good condition but needs to be updated for our targeted buyer

After Renovation, the House will feature:

  • 3 Bedrooms, 1 Office/ Recreation Room, 2 Full Baths, and 3 Half Baths
  • Remodeled kitchen with new appliances
  • Open modern floor plan with all new paint and updating
  • All bathrooms remodeled
  • Restoration of front porch
  • New back deck
  • Newly restored hardwood floors and other original wood work
  • Painted exterior and new landscaping
  • Detached Garage

Special Circumstances:

  • One block away is St Joan of Arc.
  • It is the one of the best Catholic Schools in Indianapolis.
  • The are many newly renovated homes on this street, and the others are in good condition.
  • This is a very desirable place to live.
  • The location, and the magnificent original 1915 wood work will sell this home.

Financial Analysis

Listed for   $129,000
Purchase Price   $135,000
Closing Costs   $2,550
Estimated Renovation & Holding   $78,000
Set-up Fees   $3,000
Finders Fee   $1,500
Prop Taxes, Insurance & Staging   $4,500
Reserve   $5,000
Est. All-in   $229,550
Target Selling date   9/15/2017
Target selling price   $320,000
Sales commission 5.0% $16,000
Sales expenses 2% $4,800
Projected Profit   $69,650
Project ROI   30%

 

Profit Sharing

 

Investor(s) 55% $38,308
Local team 21% $14,627
Simply Do It (Facilitator) 24% $16,716
Investor’s Return On Investment (ROI)   16.69%
Duration (months)   8
Annualized ROI   25.03%

 

COMPS MAP

 

COMPS

Sold Price Status Address B BA Sqft Year Basement
$272,500 Pending 413 East 40th Street Indianapolis 3 3 3,264 1922 Y
$325,000 Pending 4243 Central Avenue Indianapolis 3 2 4,128 1920 Y
$292,000 Sold 3861 Ruckle Street Indianapolis 3 3 2,946 1925 Y
$324,900 Sold 4502 CENTRAL Avenue Indianapolis 3 3 3,222 1940 Y

COMPS ANALYSIS

VIDEO TOUR

 

 

Documents
Address: 4049 Ruckle St
State/County:
Zip: 46205
Country: United States
Property Id : 1119
Property Size: 3,244 ft2
Property Lot Size: 5,279 ft2
Rooms: 8
Bedrooms: 2
Bathrooms: 4
Year Built: 1915
Garage: No
Basement: 972
Roofing: Asphalt Shingle
Rent (mo): 1300
Property Taxes (mo): 393
Insurance (mo): 150
gas heat
back yard
front yard
washer and dryer
storage
walkscore44 / Car-Dependent more details here

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