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$385,000

For Sale - Active
6645 Honeysuckle Way, Pendleton, IN 46064
5 Beds
4 Baths
3,198 Square Feet
0.18 Acres Lot
Built in 2020
For Sale - Active
Units n/a
Checked: 14 hours ago
Updated: Jun 03, 2025 at 10:10AM

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$270
Cap Rate
5.5%
Cash-on-Cash Return
-3.7%
Debt Coverage Ratio
0.87
Internal Rate of Return (5 years)
0.4%

Property Description


0.18 Acres Lot
Built in 2020
For Sale - Active
Units n/a

Why wait to build when you can move right into this stunning five-bedroom, three-and-a-half-bath home that's only four years old and packed with valuable upgrades? Located in a quiet neighborhood with very distant backyard neighbors, this home offers the privacy and space you've been looking for-without the cost and wait of new construction. Inside, you'll find a bright and open layout designed for comfort and functionality. With five spacious bedrooms and three full bathrooms, there's plenty of room for family, guests, or a home office setup. The home features brand new carpet on the stairs, upstairs hallway, and two bedrooms, giving those spaces a fresh, clean feel. The two-car garage includes extra storage space, making it perfect for keeping seasonal items, tools, or recreational gear organized. The fully fenced backyard provides a safe space for children and pets to play, while offering a peaceful setting with no close backyard neighbors. This home stands out with thoughtful upgrades that are often considered extras in new builds. Ceiling fans, stylish light fixtures, and blinds have already been installed, saving you time and money. Move-in ready and more affordable than building from scratch, this beautiful, well-maintained home offers everything you need-and more. Schedule your private showing today and discover the perfect blend of value, style, and privacy.

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Location


Property Details


Parking

  • Description: Attached Garage
  • Details: Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Partial): 1
  • # of Baths (Total): 4.0

Interior Features

  • # of Rooms: 13
  • # of Stories: 2

Exterior Features

  • Foundation: Slab

HOA

  • Has HOA: Yes
  • HOA Fee: $451/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 481525200011.004015
  • Lot Size: 7797 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: TraditonalAmerican
  • Year Built: 2020

Tax Information

  • Annual Tax: $0

Utilities

  • Heating: Heat Pump

Location

  • County: Madison

Listing Details


Listed by:
Lindsay Ohmer
CENTURY 21 Scheetz
(317) 490-7223

Source:
MIBOR Broker Listing Cooperative
MLS#: 22041209
MIBOR Broker Listing Cooperative

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$270
Cap Rate
5.5%
Cash-on-Cash Return
-3.7%
Debt Coverage Ratio
0.87
Internal Rate of Return (5 years)
0.4%

Purchase Details

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Purchase price:
$385,000
Amount financed:
-$308,000
Down payment:
$77,000
Closing costs:
$11,550
Rehab costs:
$0
Initial cash invested:
$88,550
Square feet:
3,198
Cost per square foot:
$120
Monthly rent per square foot:
$0.81

Financing Details

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Loan amount:
$308,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.890%
Principal & interest:
$2,026
Property tax:
$0
Insurance:
$182
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,208

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,600 $31,200
Vacancy loss: (6%)
6% -$156 -$1,872
Operating income:
$2,444 $29,328

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$182-$2,184
Property management: (8%)
8%-$208-$2,496
Repairs & maintenance: (5%)
5%-$130-$1,560
Capital expenditures: (5%)
5%-$130-$1,560
HOA fees: (1%)
1%-$38-$456
Total operating expenses: (26%)
26%-$688-$8,256

Cash Flow


Monthly Yearly
Net operating income:
$1,756 $21,072
Mortgage payments:
-$2,026 -$24,312
Cash flow:
$270 $3,240