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$338,500

For Sale - Active
712 N Pendleton Ave, Pendleton, IN 46064
4 Beds
3 Baths
2,097 Square Feet
2.01 Acres Lot
Built in 1976
For Sale - Active
Units n/a
Checked: 18 hours ago
Updated: Jun 10, 2025 at 03:31AM

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
-$147
Cap Rate
5.6%
Cash-on-Cash Return
-2.3%
Debt Coverage Ratio
0.92
Internal Rate of Return (5 years)
1.8%

Property Description


2.01 Acres Lot
Built in 1976
For Sale - Active
Units n/a

Rare Opportunity - 2 Acres Just Minutes from Downtown Pendleton! This is an exceptional chance to own a beautifully maintained 4-bedroom, 2.5-bath home on two acres with no HOA! Located just a mile from downtown Pendleton, this property offers the perfect blend of space, convenience, and modern updates. New concrete floor added to outbuilding/garage. Step inside to find brand-new flooring and fresh paint throughout. The main-level primary suite features its own full bath, while the spacious cathedral ceiling living room flows seamlessly into the open-concept kitchen with a pantry. Outside, enjoy plenty of room to play, plus a large three-car garage, a car port, and a loft for extra storage. All appliances stay, including a new water softener, whole-home filtration system, and washer & dryer.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Carport, Detached, Gravel
  • Garage Spaces: 3
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Partial

Exterior Features

  • Foundation: Block

Land Information

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

Lot Information

  • Parcel ID: 481409400033.000013
  • Lot Size: 87730 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: TraditonalAmerican
  • Year Built: 1976

Tax Information

  • Annual Tax: $0

Utilities

  • Heating: Forced Air, Natural Gas

Location

  • County: Madison

Listing Details


Listed by:
Julie Schnepp
RE/MAX Legacy
(765) 617-9430

Source:
MIBOR Broker Listing Cooperative
MLS#: 22026683
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
-$147
Cap Rate
5.6%
Cash-on-Cash Return
-2.3%
Debt Coverage Ratio
0.92
Internal Rate of Return (5 years)
1.8%

Purchase Details

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Purchase price:
$338,500
Amount financed:
-$270,800
Down payment:
$67,700
Closing costs:
$10,155
Rehab costs:
$0
Initial cash invested:
$77,855
Square feet:
2,097
Cost per square foot:
$161
Monthly rent per square foot:
$1.10

Financing Details

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Loan amount:
$270,800
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,734
Property tax:
$0
Insurance:
$161
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,895

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,300 $27,600
Vacancy loss: (6%)
6% -$138 -$1,656
Operating income:
$2,162 $25,944

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$161-$1,932
Property management: (8%)
8%-$184-$2,208
Repairs & maintenance: (5%)
5%-$115-$1,380
Capital expenditures: (5%)
5%-$115-$1,380
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$575-$6,900

Cash Flow


Monthly Yearly
Net operating income:
$1,587 $19,044
Mortgage payments:
-$1,734 -$20,808
Cash flow:
$147 $1,764