13967 Hawkstone Dr · Fishers, IN 46040

$850,000

6 bd · 4.5 ba · 6,418 sqft · SingleFamily public records · 1 Days on market

Built 2001 0.57 ac lot Est $1065k · 20% under $38/mo HOA

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Why this score? — see what drove the B- 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 +23.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.6/10.0
• Schools +5.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

You won't believe how much this home offers for the price! FULL brick, 6 beds, 6.5 baths, 6000+ square feet, 2 kitchens, indoor swim spa! 3/4" solid exotic hardwoods grace almost the entire main level. 2-story entry, 2 separate stairs to the upper level w/ wrought iron spindles. Huge family rm w/ 12' tray ceiling is wide open to the kitchen w/ 42" cabinets, tile backsplash, center isle, newer stainless appliances w/ built-in oven/micro. The living rm opens to the formal dining rm w/ tray ceiling for plenty of entertaining room. Main level office w/ built-ins & crown. Swim year round in the 24x24 heated/cooled sun rm w/ cathedral ceiling, sunken swim spa & dedicated fu

Key facts

• Full brick
• Indoor swim spa
• 2 kitchens

Tags

• FULL BRICK
• 2 KITCHENS
• INDOOR SWIM SPA
• SOLID EXOTIC HARDWOODS
• 2 STORY ENTRY
• WROUGHT IRON SPINDLES

Property features AI

Finance

• HOA & community: Homeowners association with semi-annual fee ($225); Association includes entrance common maintenance and snow removal

Exterior

• Parking: Attached three-car garage with finished space and garage door opener; garage faces side; Concrete driveway
• Security: Security system with closed-circuit cameras and smoke detectors
• Utilities: Public water; Municipal sewer connected; No solid waste service indicated
• Home design: Single-family residence; Two levels; Mandatory fee ownership
• Construction: Brick construction; Concrete perimeter foundation and crawl space; Finished basement with 9+ foot ceilings and egress windows
• Exterior features: Covered patio; Patio area; Fire pit; Sprinkler system; Corner lot with curbs, sidewalks and mature trees

Interior

• Kitchen: Electric cooktop and gas cooktop; Oven, microwave and range hood; Dishwasher, disposal and refrigerator
• Bedrooms: Five bedrooms on the upper level; One bedroom in the finished basement; Primary bedroom with walk-in closet
• Flooring: Hardwood floors
• Bathrooms: Six full bathrooms and one half bathroom total; Primary bath includes double sinks, whirlpool tub, separate shower, tub with separate shower and shower stall
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Cathedral ceilings, tray ceilings and high ceilings; Kitchen island and eat-in kitchen; Walk-in closets and pantry; Central vacuum; Hardwood floors; Jack-and-Jill bath and formal living room
• Laundry & utility: Main-level laundry with utility sink; Gas water heater and tankless water heater; Humidifier and exhaust fan

What this means for you Summary

Snapshot

• This is a 6-bed/4.5-bath single-family listed at $850k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $850k).
• Cap rate 8.6% vs local median 3.6% in Fishers — 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 83/100 on livability (#11 in IN, #898 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: commute F.
• Hamilton Southeastern Schools (suburban): math 57% / reading 59% proficiency, ranked #14 of 301 in IN (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 303 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 4,661 units permitted in Hamilton County in 2024 (1,528 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.
• Hamilton County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $850,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.26%
• DSCR: 1.37
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $1,065,388
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10555 Serra Vista Pt	0.21mi	5/4.5 (-1)	6,253 (-3%)	5mo	$721,000	$115	77
13909 Waterway Blvd	0.09mi	6/4.5	7,082 (+10%)	7mo	$1,200,000	$169	73
10526 Proposal Pointe Way	0.18mi	5/5.0 (-1)	6,834 (+6%)	2mo	$720,000	$105	72
13682 Kingston Dr	0.46mi	5/4.5 (-1)	6,610 (+3%)	1mo	$2,299,000	$348	68
10138 Backstretch Row	0.65mi	5/4.5 (-1)	6,504 (+1%)	5mo	$810,000	$125	58
10759 Giselle Way	0.42mi	5/4.5 (-1)	5,755 (-10%)	1mo	$920,000	$160	57
14395 Brooks Edge Ln	0.66mi	5/4.5 (-1)	6,483 (+1%)	6mo	$1,040,000	$160	57
10297 Timberland Dr	0.55mi	5/4.5 (-1)	5,967 (-7%)	6mo	$990,000	$166	52
14239 Kingdom Ct	0.40mi	5/4.5 (-1)	5,644 (-12%)	5mo	$989,000	$175	52
10219 Springstone Rd	0.66mi	5/4.5 (-1)	5,896 (-8%)	1mo	$1,750,000	$297	50
13617 Creekridge Ln	0.59mi	6/4.5	5,673 (-12%)	4mo	$995,000	$175	50
10544 Tavarez Ct	0.73mi	5/4.5 (-1)	5,865 (-9%)	7mo	$810,000	$138	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.86×
• Total profit: $-33,537
• Equity at exit: $126,738

10-year hold

• IRR: 5.9%
• Equity multiple: 1.44×
• Total profit: $104,666
• Equity at exit: $73,492

Cash invested: $238,000 (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 46040

• Home prices YoY: -24.4%
• Active inventory: 303
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $9,004 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$626 /mo · $7,507/yr
• Insurance: −$354
• HOA: −$38
• Vacancy / Maint / Mgmt: −$1,891
• Net cashflow: $1,638

Break-even live

Break-even rent $6,931

Max offer price $850,000

Occupancy floor 77%

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10599 Geist View Dr Fishers, IN	5.0	4.5	5119	$11,900	$2.32	43d	1	0.21mi
10599 Geist View Dr Fishers, IN	5.0	4.5	5119	$7,500	$1.47	7d	1	0.21mi
10057 Backstretch Row Unit NA Fortville, IN	5.0	5.0	5541	$4,499	$0.81	1d	1	0.75mi

HOA detail

• Monthly dues: $38 · $456/yr

Listing history 2 events

1. 2026-06-19
   remarks 681-char remark
2. 2026-06-19
   listed $850,000 Active 1 DOM

ⓘ 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: $7,507 · $626/mo
• Projected year-2 tax: $7,507 · $626/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 ≥100°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: $108,045
• − Mortgage interest: −$47,613
• − Property taxes: −$7,507
• − Insurance: −$4,250
• − Repairs & maintenance: −$8,644
• − Management: −$8,644
• − HOA: −$456
• − Depreciation: −$24,727
• Taxable income: $6,205
• Est. tax owed @ 24.0%: −$1,489
• After-tax cash flow: $18,164/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: Hamilton Southeastern Schools
• NCES district ID: 1810650
• Math proficiency: 57% ▼ -11.00%
• Reading proficiency: 59% ▼ -7.00%
• Median HH income: $87,726
• Composite: 53.02/100
• National rank: #1520
• State rank: #14 of 301 in IN

Livability — Fishers

• Score: 83/100
• State rank: #11
• US rank: #898

Category grades

Amenities A+ Commute F Cost of living B Crime A+ Employment A+ Housing A+ Health & safety B+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fishers, IN
• City population: 92,467
• Population (ZIP): 17,891

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 381,938 people
• By 2030: 417,496 · +9.3%
• By 2040: 486,684 · +27.4%
• By 2050: 549,805 · +44.0%
• By 2075: 687,078 · +79.9%
• By 2100: 754,495 · +97.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 4% Asian 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Romanian 2% Portuguese 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Arabic 1% Spanish 1%

Political lean MEDSL · Hamilton

• 2024 margin: Lean R (+6.1) · D 46.0% · R 52.1% · Other 1.9%
• 2008→2024 swing: +16.2pp toward D · 2008: -22.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+6.8 2016: R+19.6 2012: R+34.3 2008: R+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.54%
• Current HPI: 221.8703
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-18 Listed $850,000 MIBOR as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2025): $7,507 · +0.3% YoY. Source: county tax records.