For sale by owner
    • Price cut: $5K (10/15)
    $135,000

    2202 N Leland Ave, Indianapolis, IN 46218

    2beds
    875sqft
    : 
    SingleFamily
    Built in 1959
    5,314 Square Feet Lot
    $-- Zestimate®
    $154/sqft
    $-- HOA

    What's special

    Clean interior
    Property Type: SFR Beds/Baths: 2 Bed / 1 Bath Sqft: 875 | Lot: 5,314 | Year Built: 1959 Occupancy: 100% ARV: $176,966 Current Rent: $1,495/mo Rehab Estimate: $0 (based on visual inspection) ?? Property Snapshot Type: Single-Family Residence (SFR) Condition: Well-maintained interior with modern flooring, fresh paint, and updated kitchen/bathroom finishes Occupancy: 100% occupied, cash flowing day 1 ?? Valuation & ARV Range ARV Estimate: $176,966 Supported by current market trends in the area for similar-sized SFRs ?? DSCR Loan Analysis (Estimate) Gross Income: $1,495/mo Annual Gross: $17,940 Estimated Expenses (30%): ~$5,382 NOI: ~$12,558/year Estimated DSCR: ~1.35–1.40 (depending on rate/terms) Based on 20–25% down, 7.25–7.5% interest, 30-year amortization ? DSCR loan-qualified with a solid buffer above 1.2 minimum ?? Rehab Scope (Visual Inspection) - Fresh paint throughout with neutral tones - Modern wood flooring in good condition - Updated kitchen with white cabinets, black appliances, and tiled backsplash - Functional bathroom with basic fixtures - Ceiling fans and adequate lighting - No visible structural or major system issues Rehab Cost: $0 – Turnkey, no immediate repairs needed ?? Investor Highlights ?? 100% occupied with immediate cash flow ?? Turnkey property – no rehab required ?? Strong rental demand in the area for 2/1 SFRs ?? Ideal for buy-and-hold or DSCR financing ?? Potential for minor rent increases with market adjustments ?? Quick Numbers Recap Rehab: $0 All-In: $155,000 ARV: $176,966 Current Rent: $1,495/mo ROI Range: ~8–10% (based on DSCR loan, 20% down, 7.5% interest) Cap Rate: ~7–8% (current rents, self-managed) ?? Contact Jamie Franklin | Acquire JDF Corp | 317-610-9834 ?? Browse full inventory at: www.reioffer.net
    What the owner loves about this home
    ?? Best Investment Strategy The best strategy for this property is **purchasing with a bridge loan and refinancing into a DSCR loan**. This approach leverages the property’s turnkey status and immediate cash flow. With 100% occupancy and no rehab needed, a bridge loan can secure the purchase quickly, followed by refinancing into a DSCR loan to optimize long-term financing costs and maintain a strong DSCR (1.35–1.40). This minimizes upfront capital and maximizes passive income potential. A quick flip with minor kitchen/bathroom remodels could yield a small profit ($21,966 ARV spread), but the current rent and occupancy make holding more efficient, offering steady returns without additional investment. 317-610-9834
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