6919 Millbrook Cir · Indianapolis city (balance), IN 46237

$250,000

3 bd · 1.0 ba · 1,587 sqft · SingleFamily public records · 2 Days on market

Built 1998 9,108 sqft lot Est $271k · 8% under $38/mo HOA · 2% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +11.7/30.0
• ARV discount +11.0/15.0
• Schools +4.0/10.0
• DSCR +3.5/10.0
• Rent growth +3.4/5.0
• 1% rule +3.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3BR, 2 full BA on a quiet cul-de-sac in a great neighborhood. Relax on the front porch, the private patio area in back or the fireplace this fall. Open floor plan with large kitchen and bar to entertain guests. Fresh paint throughout inside with fresh paint in the garage too. Near many amenities, I-65 is close with quick passage to downtown. Excellent Franklin Township schools. Move in ready.

Key facts

• Open floor plan
• Front porch
• Large kitchen

Tags

• CUL-DE-SAC
• OPEN FLOOR PLAN
• LARGE KITCHEN
• ENTERTAINMENT BAR
• FRONT PORCH
• PRIVATE REAR PATIO

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $457; HOA covers entrance common, maintenance, and snow removal

Exterior

• Parking: Attached 2-car garage (approximately 425 sq ft)
• Security: Smoke alarm
• Utilities: Public water; Municipal sewer connected; Natural gas connected
• Home design: Single family residence; One story
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Covered patio; Lot on a cul-de-sac; Street lighting; Small trees (under 20 ft)

Interior

• Kitchen: Electric oven; Microwave; Dishwasher; Refrigerator; Breakfast bar; Pantry
• Bedrooms: Three bedrooms on the main level; Primary bedroom with walk-in closet
• Bathrooms: Two full bathrooms; Primary bathroom with full tub
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Vaulted ceilings; Walk-in closet(s); Breakfast bar; Pantry; Gas log fireplace in the great room
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-71 ($-858/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (20.3% below list).
• Recommended offer: $199k (20.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.4% in Indianapolis city (balance) — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Franklin Township Community School Corporation (urban): math 42% / reading 47% proficiency, ranked #87 of 301 in IN (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bunker Hill Elementary School (math 67% / reading 52%, grade B-, #128 of 994 statewide, top 15%, 501 students, 42% FRL); Franklin Central High School (math 41% / reading 69%, grade C, #77 of 369 statewide, top 21%, 3,319 students, 46% FRL) — zoned schools average 44% FRL vs 29% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 57% at this address vs 44% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Franklin Township Community School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.8%/yr); 275 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 30% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Marion County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $155k; list at $250k implies a 61% gain — meaningful room to come down on a strong offer.

Recommended offer $199,136 (20.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.23%
• DSCR: 0.95
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $271,377
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6411 Nightshade Dr	0.45mi	3/2.0	1,491 (-6%)	7mo	$259,900	$174	60
7150 Combs Rd	0.56mi	3/2.0	1,572 (-1%)	11mo	$224,000	$142	59
7525 Turnberry Ct	0.70mi	3/2.5	1,614 (+2%)	0mo	$247,000	$153	58
6315 Shelbyville Rd	0.63mi	3/1.0	1,560 (-2%)	12mo	$242,000	$155	58
6348 Amber Valley Ln	0.49mi	3/2.0	1,516 (-4%)	14mo	$275,000	$181	54
7219 Wooden Grange Dr	0.44mi	4/2.0 (+1)	1,632 (+3%)	14mo	$305,000	$187	54
6604 Valley Forge Ct	0.36mi	4/2.5 (+1)	1,752 (+10%)	4mo	$320,000	$183	51
6932 Turnberry Way	0.61mi	3/2.0	1,460 (-8%)	4mo	$249,500	$171	51
7416 Troon Dr	0.70mi	4/2.0 (+1)	1,680 (+6%)	0mo	$280,000	$167	48
6234 Amber Valley Ln	0.62mi	4/2.0 (+1)	1,714 (+8%)	4mo	$240,000	$140	45
7226 Wooden Grange Dr	0.44mi	3/2.0	1,824 (+15%)	17mo	$318,000	$174	36
6209 Amber Valley Ln	0.67mi	3/2.5	1,817 (+14%)	12mo	$272,000	$150	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.38×
• Total profit: $-43,508
• Equity at exit: $37,276

10-year hold

• IRR: -8.2%
• Equity multiple: 0.47×
• Total profit: $-37,266
• Equity at exit: $21,615

Cash invested: $70,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46237

• Rents YoY: 3.8%
• Active inventory: 275
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,991 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$191 /mo · $2,297/yr
• Insurance: −$104
• HOA: −$38
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $-71

Break-even live

Break-even rent $2,082

Max offer price $237,376

Occupancy floor 99%

Sensitivity live

Price	-10% $70	-5% $-1	+0% $-71	+5% $-142	+10% $-213
Rent	-10% $-229	-5% $-150	+0% $-71	+5% $7	+10% $86
Rate	-1.0pp $54	-0.5pp $-8	base $-71	+0.5pp $-136	+1.0pp $-202

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6210 Carrie Cir Indianapolis, IN	3.0	2.0	1226	$1,890	$1.54	6d	1	0.90mi
7703 Janel Ct Indianapolis, IN	4.0	2.5	1824	$4,950	$2.71	26d	1	1.19mi
7825 Jaclyn Dr Indianapolis, IN	3.0	2.0	1244	$1,875	$1.51	6d	1	1.27mi
6404 Amarillo Way Indianapolis, IN	3.0	2.0	1494	$1,845	$1.23	6d	1	1.33mi
8107 Southern Trails Pl Indianapolis, IN	4.0	2.0	1746	$2,000	$1.15	6d	1	1.37mi
7260 Kidwell Dr Indianapolis, IN	3.0	2.0	1409	$1,899	$1.35	9d	1	1.45mi
8130 Amble Way Indianapolis, IN	3.0	2.5	2144	$1,955	$0.91	6d	1	1.47mi

HOA detail

• Monthly dues: $38 · $456/yr

Listing history 14 events

1. 2026-05-26
   listed $250,000 Active
2. 2017-09-27
   soldstatus $155,000 Sold 404-char remark

   Show marketing remark (404 chars)

   Charming 3BR, 2 full BA on a quiet cul-de-sac in a great neighborhood. Relax on the front porch, the private patio area in back or the fireplace this fall. Open floor plan with large kitchen and bar to entertain guests. Fresh paint throughout inside with fresh paint in the garage too. Near many amenities, I-65 is close with quick passage to downtown. Excellent Franklin Township schools. Move in ready.

3. 2017-09-14
   status Pending 404-char remark

   Show marketing remark (404 chars)

   Charming 3BR, 2 full BA on a quiet cul-de-sac in a great neighborhood. Relax on the front porch, the private patio area in back or the fireplace this fall. Open floor plan with large kitchen and bar to entertain guests. Fresh paint throughout inside with fresh paint in the garage too. Near many amenities, I-65 is close with quick passage to downtown. Excellent Franklin Township schools. Move in ready.

4. 2017-08-18
   historical Active with Contingency 404-char remark

   Show marketing remark (404 chars)

   Charming 3BR, 2 full BA on a quiet cul-de-sac in a great neighborhood. Relax on the front porch, the private patio area in back or the fireplace this fall. Open floor plan with large kitchen and bar to entertain guests. Fresh paint throughout inside with fresh paint in the garage too. Near many amenities, I-65 is close with quick passage to downtown. Excellent Franklin Township schools. Move in ready.

5. 2017-08-18
   listed $159,900 Active 404-char remark

   Show marketing remark (404 chars)

   Charming 3BR, 2 full BA on a quiet cul-de-sac in a great neighborhood. Relax on the front porch, the private patio area in back or the fireplace this fall. Open floor plan with large kitchen and bar to entertain guests. Fresh paint throughout inside with fresh paint in the garage too. Near many amenities, I-65 is close with quick passage to downtown. Excellent Franklin Township schools. Move in ready.

6. 2002-08-05
   soldstatus $128,000 372-char remark

   Show marketing remark (372 chars)

   SUPER SHARP RANCH LOCATED IN POPULAR SOUTHPORT GREEN IS NOT YOUR TYPICAL HOUSE! IN A NEIGHBORHOOD OF LARGER & MORE EXPENSIVE HOMES, IT OFFERS 3 BEDROOMS, 2 FULL BATHS, VAULTED CEILINGS, LARGE KITCHEN, SPLIT FLOOR PLAN, GAS FIREPLACE, & CUL-DE-SAC LIVING. CHARMING FRONT PORCH, LARGE, OPEN PATIO IN A PRIVATE BACKYARD BACKING UP TO PINE TREES. IMMEDIATE POSSESSION.

7. 2002-06-12
   listed $130,000 372-char remark

   Show marketing remark (372 chars)

   SUPER SHARP RANCH LOCATED IN POPULAR SOUTHPORT GREEN IS NOT YOUR TYPICAL HOUSE! IN A NEIGHBORHOOD OF LARGER & MORE EXPENSIVE HOMES, IT OFFERS 3 BEDROOMS, 2 FULL BATHS, VAULTED CEILINGS, LARGE KITCHEN, SPLIT FLOOR PLAN, GAS FIREPLACE, & CUL-DE-SAC LIVING. CHARMING FRONT PORCH, LARGE, OPEN PATIO IN A PRIVATE BACKYARD BACKING UP TO PINE TREES. IMMEDIATE POSSESSION.

8. 2002-03-31
   historical
9. 2001-09-21
   listed $130,000
10. 2001-02-24
    historical
11. 2000-12-18
    soldstatus $80,465
12. 2000-12-13
    soldstatus $123,499
13. 2000-11-30
    listed $123,500
14. 2000-08-25
    listed $125,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $2,297 · $191/mo
• Projected year-2 tax: $2,297 · $191/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,896
• − Mortgage interest: −$14,004
• − Property taxes: −$2,297
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,912
• − Management: −$1,912
• − HOA: −$456
• − Depreciation: −$7,273
• Taxable loss: −$5,207
• Est. tax savings @ 24.0%: +$1,250
• After-tax cash flow: $392/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Franklin Township Community School Corporation
• NCES district ID: 1803750
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $67,825
• Composite: 39.91/100
• National rank: #3852
• State rank: #87 of 301 in IN

Livability — Indianapolis city (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Indianapolis city (balance), IN
• County: Marion County · 998,460 people
• City population: 881,119
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 43,473
• Household income: $79,078
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1245.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 1,025,572 people
• By 2030: 1,065,727 · +3.9%
• By 2040: 1,141,577 · +11.3%
• By 2050: 1,208,920 · +17.9%
• By 2075: 1,367,288 · +33.3%
• By 2100: 1,438,201 · +40.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Asian 13% Hispanic / Latino 7% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 12% · Canada, Philippines
• Languages at home: 84% English-only · Other Asian/Pacific 5% Spanish 5% Other Indo-European 4%

Political lean MEDSL · Marion

• 2024 margin: Strong D (+27.7) · D 63.0% · R 35.3% · Other 1.7%
• 2008→2024 swing: -0.7pp no change · 2008: 28.4pp · 2024: 27.7pp
• All cycles: 2024: D+27.7 2020: D+29.1 2016: D+22.8 2012: D+22.2 2008: D+28.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -180.33%
• Current HPI: 238.9661
• Rent YoY: ▲ 3.78%
• Metro: Indianapolis-Carmel-Anderson, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+100.0% since first listed

14 events — show timeline

• 2026-05-26 Listed $250,000 MIBOR as Distributed by MLS Grid
• 2017-09-27 Sold (MLS) $155,000 MIBOR as Distributed by MLS Grid
• 2017-09-14 Pending — MIBOR as Distributed by MLS Grid
• 2017-08-18 Contingent — MIBOR as Distributed by MLS Grid
• 2017-08-18 Listed $159,900 MIBOR as Distributed by MLS Grid
• 2002-08-05 Sold (MLS) $128,000 MIBOR as Distributed by MLS Grid
• 2002-06-12 Listed $130,000 MIBOR as Distributed by MLS Grid
• 2002-03-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-09-21 Listed $130,000 MIBOR as Distributed by MLS Grid
• 2001-02-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2000-12-18 Sold (Public Records) $80,465 Public Records
• 2000-12-13 Sold (MLS) $123,499 MIBOR as Distributed by MLS Grid
• 2000-11-30 Listed $123,500 MIBOR as Distributed by MLS Grid
• 2000-08-25 Listed $125,000 MIBOR as Distributed by MLS Grid

Property tax history

-1.0%/yr

Latest (2025): $2,297 · +3.4% YoY. Source: county tax records.