1320 N Beville is a turnkey rental property that has brand new HVAC, Roof, Plumbing, Electrical, and well.. everything. This rehab was meticulously done sparing no expense. Counter tops are granite, kitchen and bathroom floors are high end ceramic tile; Master bedroom has an (over the top) master bathroom, closet, and laundry area. Backyard has a new deck and a new privacy fence.
Currently rented! Rental rate is 1095 but was negotiated down to 1050 for an 18 month lease, which gets us off the winter move-in cycle. – Smart 😉
Property taxes are low. Very low. Assessed at only 10k, the monthly payment is next to nothing. The area is undergoing heavy revitalization and has recently become a hot neighborhood for young professionals. For example: our insurance agent (who you will probably want to talk to when doing due diligence on insurance rates) lives around the corner and one of our title reps lives across the street just a few doors down.
“Low taxes now + Appreciation = Great short term hold.”
Before putting the house up for rent we listed on the MLS to offer it to a home buyer. Going into winter time we decided to rent the property out, switch gears and sell as a turnkey. We knew going in that the numbers worked for both models. 1310 Beville, 2 doors down, is currently pending for 115k. We did receive a verbal offer from an agent representing a first time home buyer, however we had already accepted a rental application and deposit. 109k was the price.
Turnkey sales price: $99,500.
This is a great deal for someone looking to gain cashflow for 3 – 5 years and then sell retail.
Reasons for appreciation in the area:
- Circle City Industrial Complex
- The Paramount School of Excellence
- The Super Bowl Legacy Project
- Springdale Neighborhood Association
- Windsor Park Neighborhood Association
- St Clair Place Neighborhood Association
- Near Indy East Side Renewal
- Proximity to Mass Ave
- Brookside Park
- Spades Park
SPECIAL OFFER! ( we have never done this before and may never do it again!) Buyer gets:
- No maintenance or capital expenditures for the first lease. – 18 Months
- No property management fees for the first lease. – 18 months
- Get first dibs on FS Houses next 3 turnkey properties. – Building a portfolio?
Check out this short video and lets talk numbers today!