5753 Bradston Way · Indianapolis city (balance), IN 46237

$159,900

3 bd · 2.0 ba · 1,134 sqft · Condo public records · 7 Days on market

Built 1978 $285/mo HOA · 15% of rent

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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 +19.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• DSCR +6.2/10.0
• Schools +4.0/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect condo for retirees or small family – all outside maintenance is taken care of by HOA including brand new roof & siding! Nice open concept, hardwood flooring & vaulted ceiling and stone fireplace in living/dining room. Kitchen has some upgrades including granite countertops. Lots of light and large three season sunroom & two patios. Two generous size bedrooms and two full baths make for versatile living. Attached one car garage and a short walk to the pool/clubhouse.

Key facts

• Updated cabinets
• End-unit condo
• Cozy fireplace

Tags

• END-UNIT CONDO
• OPEN LIVING DINING AREA
• COZY FIREPLACE
• UPDATED CABINETS
• STAINLESS STEEL APPLIANCES
• ATTACHED PRIVATE BATHROOM

Property features AI

Finance

• Other: Mandatory fee ownership interest; Has a view; Lot under 1/4 acre (approx. 0.04 acres)
• HOA & community: HOA with monthly fee (approximately $285); Community amenities include clubhouse, pool, management, grounds and structure maintenance, snow removal, and trash service

Exterior

• Parking: Attached garage (1 car, approximately 317 sq ft)
• Utilities: Public water; Municipal sewer
• Home design: Residential condominium (horizontal); Attached property with 1 common wall; Private building entry at ground level; One story
• Construction: Cement siding with stone accents; Slab foundation; Built on one level
• Exterior features: Glass-enclosed patio; Patio

Interior

• Kitchen: Electric oven; Microwave; Dishwasher
• Bedrooms: 2 bedrooms on main level
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Breakfast bar; Vaulted ceilings; Walk-in closet(s); Living room with fireplace (Great Room)
• Laundry & utility: Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $181 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 7.7% 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.
• 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.
• Market conditions: Rents rising (+3.8%/yr); 261 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 $80k; list at $160k implies a 100% gain — meaningful room to come down on a strong offer.

Recommended offer $159,900

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.86%
• DSCR: 1.22
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-12,749
• Equity at exit: $23,842

10-year hold

• IRR: 3.1%
• Equity multiple: 1.23×
• Total profit: $10,494
• Equity at exit: $13,825

Cash invested: $44,772 (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: 261
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,865 high
• Mortgage (P&I): −$839
• Tax from tax record: −$102 /mo · $1,225/yr
• Insurance: −$67
• HOA: −$285
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $181

Break-even live

Break-even rent $1,636

Max offer price $159,900

Occupancy floor 85%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5844 Timber Lake Blvd Indianapolis, IN	3.0	2.0	1250	$1,856	$1.48	2d	1	0.55mi
5717 Hacienda Ct Indianapolis, IN	3.0	1.5	1322	$1,631	$1.23	16d	1	0.71mi
5309 Waterton Lakes Dr Indianapolis, IN	3.0	2.0	1390	$1,865	$1.34	7d	1	0.75mi
5723 Ensenada Ave Indianapolis, IN	3.0	2.0	1168	$1,775	$1.52	2d	1	0.76mi
5334 Padre Ln Indianapolis, IN	3.0	1.5	1016	$1,695	$1.67	14d	1	0.81mi
5140 Emerson Village Pl Indianapolis, IN	1.0–2.0	1.0–2.0	805	$1,360	$1.69	1d	16	0.83mi
4901 S Emerson Ave Indianapolis, IN	1.0–4.0	1.0–2.0	998	$1,712	$1.71	1d	10	1.15mi
7251 Windsor Lakes Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1103	$1,800	$1.63	1d	36	1.29mi

HOA detail condo

• Monthly dues: $285 · $3,420/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $159,900 Active 7 DOM
2. 2026-06-17
   days on market $159,900 Active 6 DOM
3. 2026-06-16
   days on market $159,900 Active 5 DOM
4. 2026-06-15
   days on market $159,900 Active 4 DOM
5. 2026-06-13
   remarks 624-char remark
6. 2026-06-13
   listed $159,900 Active 2 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: $1,225 · $102/mo
• Projected year-2 tax: $1,292 · $108/mo
• Expected delta: +$67/yr (+$6/mo · 5.5%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,382
• − Mortgage interest: −$8,957
• − Property taxes: −$1,225
• − Insurance: −$800
• − Repairs & maintenance: −$1,791
• − Management: −$1,791
• − HOA: −$3,420
• − Depreciation: −$4,652
• Taxable loss: −$252
• Est. tax savings @ 24.0%: +$61
• After-tax cash flow: $2,235/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

+100.1% since first listed

9 events — show timeline

• 2026-06-11 Listed $159,900 MIBOR as Distributed by MLS Grid
• 2025-09-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-08-01 Price Changed $169,000 MIBOR as Distributed by MLS Grid
• 2025-07-31 Price Changed $175,000 MIBOR as Distributed by MLS Grid
• 2025-07-21 Listed $180,000 MIBOR as Distributed by MLS Grid
• 2017-12-07 Sold (MLS) $79,900 MIBOR as Distributed by MLS Grid
• 2017-12-04 Pending — MIBOR as Distributed by MLS Grid
• 2017-12-01 Contingent — MIBOR as Distributed by MLS Grid
• 2017-11-28 Listed $79,900 MIBOR as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2025): $1,225 · -11.1% YoY. Source: county tax records.