10814 Glenayr Dr · Indianapolis city (balance), IN 46113

$185,000

2 bd · 2.0 ba · 1,057 sqft · SingleFamily public records · 97 Days on market

Built 2000 4,356 sqft lot $175/sqft · 10% below area Est $205k · 10% under $30/mo HOA · 2% of rent ↓ 8% since listing

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Why this score? — see what drove the C 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 +20.4/30.0
• ARV discount +11.8/15.0
• DSCR +6.5/10.0
• Schools +5.5/10.0
• 1% rule +4.6/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this new opportunity to live inside of Plainfield School District! Upon entering this residence, an open floor plan creates an expansive and airy atmosphere, allowing for effortless movement throughout the main living areas. The Living Room provides a comforting focal point with its elegant fireplace, offering a perfect setting for quiet evenings. Kitchen offers ample cabinet space and pantry. The residence encompasses two comfortable Bedrooms, one of which offers the privacy and convenience of an ensuite bathroom, providing a personal retreat. A second full bathroom serves the home, ensuring comfort and utility for all. All on a split floor plan. Practicality is thoughtfully integrated throughout the home, including a dedicated laundry room designed for ease of use. Outside, the fenced backyard provides a secure and private outdoor space, complemented by a convenient shed for additional storage solutions. These home photos were taken in fall and the home has since been cleaned up. Seller is still moving items out. Underneath all the items in the photos the home is actually in great shape!

Key facts

• Open floor plan
• Split floor plan
• Elegant fireplace

Tags

• OPEN FLOOR PLAN
• ELEGANT FIREPLACE
• AMPLE CABINET SPACE
• ENSUITE BATHROOM
• SPLIT FLOOR PLAN
• DEDICATED LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (4.0% below list).
• Recommended offer: $168k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 C — affects rentability + tenant quality, not the cash-flow math above.
• Plainfield Community School Corporation (suburban): math 62% / reading 65% proficiency, ranked #11 of 301 in IN (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.9%/yr); 63 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Hendricks County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.

Recommended offer $168,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.96% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.60%
• DSCR: 1.25
• GRM: 8.7

CMA / ARV

• ARV (median comp): $204,733
• List price: $185,000
• Delta: -9.64%
• Verdict: FAIR
• Comps: 16 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10891 Sweetsen Rd	0.08mi	2/2.0	1,069 (+1%)	10mo	$207,000	$194	86
10793 Walnut Grove Bnd	0.08mi	2/2.0	1,057 (0%)	14mo	$199,000	$188	85
10921 Walnut Grv	0.12mi	2/2.0	1,057 (0%)	15mo	$205,000	$194	82
10821 Walnut Grv	0.07mi	2/2.0	1,057 (0%)	20mo	$190,000	$180	80
10885 Walnut Grove Bnd	0.10mi	2/2.0	924 (-13%)	15mo	$180,000	$195	62

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-14,829
• Equity at exit: $27,584

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $5,867
• Equity at exit: $15,995

Cash invested: $51,800 (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 46113

• Home prices YoY: -13.0%
• Rents YoY: 2.9%
• Active inventory: 63
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,776 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$84 /mo · $1,010/yr
• Insurance: −$77
• HOA: −$30
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $242

Break-even live

Break-even rent $1,470

Max offer price $185,000

Occupancy floor 81%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10893 Glenayr Dr Camby, IN	3.0	2.0	1171	$1,659	$1.42	10d	1	0.10mi
8396 Gunnoah Way E Camby, IN	1.0–2.0	1.0–2.0	929	$1,800	$1.94	1d	18	0.28mi
8607 Bluff Point Dr Camby, IN	3.0	2.0	1224	$1,650	$1.35	20d	1	0.42mi
13147 N Becks Grove Ct Camby, IN	3.0	2.0	1440	$1,885	$1.31	4d	1	1.37mi

HOA detail

• Monthly dues: $30 · $360/yr

Listing history 17 events

1. 2026-06-18
   days on market $185,000 Active 97 DOM
2. 2026-06-17
   days on market $185,000 Active 96 DOM
3. 2026-06-16
   days on market $185,000 Active 95 DOM
4. 2026-06-15
   days on market $185,000 Active 94 DOM
5. 2026-06-13
   days on market $185,000 Active 92 DOM
6. 2026-06-13
   days on market $185,000 Active 91 DOM
7. 2026-06-09
   days on market $185,000 Active 88 DOM
8. 2026-06-08
   days on market $185,000 Active 87 DOM
9. 2026-06-07
   days on market $185,000 Active 86 DOM
10. 2026-06-03
    days on market $185,000 Active 82 DOM
11. 2026-06-02
    days on market $185,000 Active 81 DOM
12. 2026-06-01
    days on market $185,000 Active 80 DOM
13. 2026-05-31
    days on market $185,000 Active 79 DOM
14. 2026-05-19
    price $185,000 1120-char remark

    Show marketing remark (1120 chars)

    Welcome to this new opportunity to live inside of Plainfield School District! Upon entering this residence, an open floor plan creates an expansive and airy atmosphere, allowing for effortless movement throughout the main living areas. The Living Room provides a comforting focal point with its elegant fireplace, offering a perfect setting for quiet evenings. Kitchen offers ample cabinet space and pantry. The residence encompasses two comfortable Bedrooms, one of which offers the privacy and convenience of an ensuite bathroom, providing a personal retreat. A second full bathroom serves the home, ensuring comfort and utility for all. All on a split floor plan. Practicality is thoughtfully integrated throughout the home, including a dedicated laundry room designed for ease of use. Outside, the fenced backyard provides a secure and private outdoor space, complemented by a convenient shed for additional storage solutions. These home photos were taken in fall and the home has since been cleaned up. Seller is still moving items out. Underneath all the items in the photos the home is actually in great shape!

15. 2026-05-01
    price $190,000 1120-char remark

    Show marketing remark (1120 chars)

    Welcome to this new opportunity to live inside of Plainfield School District! Upon entering this residence, an open floor plan creates an expansive and airy atmosphere, allowing for effortless movement throughout the main living areas. The Living Room provides a comforting focal point with its elegant fireplace, offering a perfect setting for quiet evenings. Kitchen offers ample cabinet space and pantry. The residence encompasses two comfortable Bedrooms, one of which offers the privacy and convenience of an ensuite bathroom, providing a personal retreat. A second full bathroom serves the home, ensuring comfort and utility for all. All on a split floor plan. Practicality is thoughtfully integrated throughout the home, including a dedicated laundry room designed for ease of use. Outside, the fenced backyard provides a secure and private outdoor space, complemented by a convenient shed for additional storage solutions. These home photos were taken in fall and the home has since been cleaned up. Seller is still moving items out. Underneath all the items in the photos the home is actually in great shape!

16. 2026-04-02
    price $199,000 1120-char remark

    Show marketing remark (1120 chars)

    Welcome to this new opportunity to live inside of Plainfield School District! Upon entering this residence, an open floor plan creates an expansive and airy atmosphere, allowing for effortless movement throughout the main living areas. The Living Room provides a comforting focal point with its elegant fireplace, offering a perfect setting for quiet evenings. Kitchen offers ample cabinet space and pantry. The residence encompasses two comfortable Bedrooms, one of which offers the privacy and convenience of an ensuite bathroom, providing a personal retreat. A second full bathroom serves the home, ensuring comfort and utility for all. All on a split floor plan. Practicality is thoughtfully integrated throughout the home, including a dedicated laundry room designed for ease of use. Outside, the fenced backyard provides a secure and private outdoor space, complemented by a convenient shed for additional storage solutions. These home photos were taken in fall and the home has since been cleaned up. Seller is still moving items out. Underneath all the items in the photos the home is actually in great shape!

17. 2026-03-13
    listed $200,000 Active 1120-char remark

    Show marketing remark (1120 chars)

    Welcome to this new opportunity to live inside of Plainfield School District! Upon entering this residence, an open floor plan creates an expansive and airy atmosphere, allowing for effortless movement throughout the main living areas. The Living Room provides a comforting focal point with its elegant fireplace, offering a perfect setting for quiet evenings. Kitchen offers ample cabinet space and pantry. The residence encompasses two comfortable Bedrooms, one of which offers the privacy and convenience of an ensuite bathroom, providing a personal retreat. A second full bathroom serves the home, ensuring comfort and utility for all. All on a split floor plan. Practicality is thoughtfully integrated throughout the home, including a dedicated laundry room designed for ease of use. Outside, the fenced backyard provides a secure and private outdoor space, complemented by a convenient shed for additional storage solutions. These home photos were taken in fall and the home has since been cleaned up. Seller is still moving items out. Underneath all the items in the photos the home is actually in great shape!

ⓘ 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: $1,010 · $84/mo
• Projected year-2 tax: $1,291 · $108/mo
• Expected delta: +$281/yr (+$23/mo · 27.8%)

ⓘ 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 4/10 Moderate 7 d/yr ≥102°F today · 19 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,317
• − Mortgage interest: −$10,363
• − Property taxes: −$1,010
• − Insurance: −$925
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − HOA: −$360
• − Depreciation: −$5,382
• Taxable loss: −$134
• Est. tax savings @ 24.0%: +$32
• After-tax cash flow: $2,935/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: Plainfield Community School Corporation
• NCES district ID: 1808970
• Math proficiency: 62% ▼ -8.00%
• Reading proficiency: 65% ▼ -8.00%
• Median HH income: $58,531
• Composite: 54.79/100
• National rank: #1315
• State rank: #11 of 301 in IN

Livability — Indianapolis city (balance)

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

Census & demographics

• County: Marion County · 998,460 people
• City population: 881,119
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 17,192
• Household income: $84,463
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 201.0

Population outlook (Hendricks County) Hauer SSP2

• Today (2025): 187,418 people
• By 2030: 201,494 · +7.5%
• By 2040: 228,487 · +21.9%
• By 2050: 253,068 · +35.0%
• By 2075: 308,920 · +64.8%
• By 2100: 336,510 · +79.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Hispanic 5% Lithuanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 5% French/Haitian/Cajun 5%

Political lean MEDSL · Hendricks

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.7%
• 2008→2024 swing: +1.9pp toward D · 2008: -23.4pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+23.9 2016: R+34.2 2012: R+34.9 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.73%
• Current HPI: 225.185
• Rent YoY: ▲ 2.88%
• 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

-7.5% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $185,000 MIBOR as Distributed by MLS Grid
• 2026-05-01 Price Changed $190,000 MIBOR as Distributed by MLS Grid
• 2026-04-02 Price Changed $199,000 MIBOR as Distributed by MLS Grid
• 2026-03-13 Listed $200,000 MIBOR as Distributed by MLS Grid

Property tax history

+8.9%/yr

Latest (2025): $1,010 · +18.9% YoY. Source: county tax records.