13967 Hawkstone Dr

Fishers, IN 46040

$850,000B-

6 bd · 4.5 ba · 6,418 sqft · Built 2001 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $9,004/mo
• Mortgage (P&I): −$4,457
• Tax + insurance: −$980
• HOA: −$38
• Vac / Maint / Mgmt: −$1,891
• Net cashflow: $1,638/mo
• Annual: $19,653/yr
• Cap rate: 8.61%
• Cash-on-cash: 8.26%
• DSCR: 1.37
• 1% rule: 1.06%
• Cash to close: $238,000

Investor read

• This is a 6-bed/4.5-bath single-family listed at $850k.
• 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).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• 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).
• Hamilton County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.