9637 W Stargazer Dr · Ingalls, IN 46064

$293,000

4 bd · 2.5 ba · 2,404 sqft · SingleFamily public records · 35 Days on market

Built 2008 4,792 sqft lot Est $325k · 10% 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 +14.1/30.0
• ARV discount +11.9/15.0
• DSCR +4.3/10.0
• Schools +4.2/10.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT Floor plan! Nice foyer space, front Home office or Formal dining room. Straight ahead to a spacious LR/Great Room w/bricked Gas FP and open to Huge Dining area w/nearby half bath. Mud room entry from garage leads into Large Kitchen w/SS appliances, lots of cabinets & prep-space. Windows galore provide a wide open view, no rear neighbors! Upstairs Loft, Laundry Room for your convenience, 3 Bedrooms PLUS The Master Suite. Community Clubhouse, Pool, Tennis & Playground. Easy access to I-69.

Key facts

• Main floor office
• Updated half bath
• Loft game room

Tags

• GREAT ROOM
• GAS LOG FIREPLACE
• MAIN FLOOR OFFICE
• LOFT GAME ROOM
• UPDATED HALF BATH
• NEW WINDOWS

Property features AI

Finance

• HOA & community: Homeowners association with semi-annual fee; Association fee includes clubhouse, entrance/common areas, insurance, maintenance, nature areas/park/playground, management, snow removal, tennis courts, and walking trails; Community amenities: clubhouse, pool, park, playground, tennis courts, trails

Exterior

• Parking: Attached garage; Two garage spaces (approximately 380 sq ft)
• Security: Smoke alarm
• Utilities: Public water; Municipal sewer connected; Cable available
• Home design: Single-family residence; Two levels; Mandatory HOA
• Construction: Vinyl with brick exterior; Slab foundation
• Exterior features: Gazebo; Patio; Full privacy fencing; Sidewalks

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric oven; Refrigerator; Pantry
• Bedrooms: Primary bedroom with walk-in closet; Four bedrooms on the upper level
• Bathrooms: Two full bathrooms (both on upper level); One half bathroom (main level); Primary bathroom is a suite
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Pantry; Walk-in closets; Painted wood trim; Gas log fireplace in the great room; One fireplace total
• Laundry & utility: Upper-level laundry; Gas water heater; Owned water softener

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $293k.

Deal economics

• At list price, monthly cash flow is $45 ($540/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 $242k (17.2% below list).
• Recommended offer: $242k (17.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.0% in Ingalls — 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 64/100 on livability (#391 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• South Madison Community School Corporation (rural): math 44% / reading 52% proficiency, ranked #60 of 301 in IN (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Maple Ridge Elementary School (math 42% / reading 41%, grade F, #478 of 994 statewide, top 49%, 783 students, 46% FRL); Pendleton Heights Middle School (math 37% / reading 48%, grade D-, #98 of 330 statewide, top 30%, 721 students, 36% FRL); Pendleton Heights High School (math 36% / reading 77%, grade C, #70 of 369 statewide, top 19%, 1,357 students, 31% FRL).
• Market conditions: 237 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Madison County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($284k) is reasonable based on typical stale-listing flexibility.
• 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 $180k; list at $293k implies a 63% gain — meaningful room to come down on a strong offer.

Recommended offer $242,471 (17.2% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 17% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.83% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $324,540
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8115 S Cricket Ln	0.39mi	4/2.5	2,328 (-3%)	7mo	$310,000	$133	71
9366 W Rising Sun Dr	0.38mi	3/2.5 (-1)	2,318 (-4%)	2mo	$313,000	$135	69
8715 Moyer Pl	0.53mi	4/2.5	2,256 (-6%)	1mo	$354,900	$157	64
9399 W Rising Sun Dr	0.35mi	3/2.5 (-1)	2,620 (+9%)	3mo	$280,000	$107	61
9543 W Campfire Dr	0.44mi	3/2.5 (-1)	2,226 (-7%)	2mo	$286,500	$129	60
8346 S Firefly Dr	0.17mi	3/2.5 (-1)	2,050 (-15%)	5mo	$268,000	$131	58
9317 W Quarter Moon Dr	0.36mi	3/2.5 (-1)	2,694 (+12%)	0mo	$275,000	$102	58
8032 W Campfire Dr	0.50mi	3/2.5 (-1)	2,174 (-10%)	2mo	$287,000	$132	54
9155 Casey Rd	0.69mi	4/2.5	2,256 (-6%)	4mo	$375,000	$166	54
8690 Lester Pl	0.32mi	5/3.0 (+1)	2,736 (+14%)	2mo	$397,000	$145	54
9203 Larson Dr	0.45mi	5/3.0 (+1)	2,736 (+14%)	6mo	$395,000	$144	44
13367 Champagne St	0.55mi	3/2.0 (-1)	2,052 (-15%)	6mo	$460,000	$224	38

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: -15.3%
• Equity multiple: 0.46×
• Total profit: $-44,673
• Equity at exit: $43,687

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-35,449
• Equity at exit: $25,333

Cash invested: $82,040 (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 46064

• Active inventory: 237
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,425 medium
• Mortgage (P&I): −$1,537
• Tax from tax record: −$174 /mo · $2,087/yr
• Insurance: −$122
• HOA: −$38
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $45

Break-even live

Break-even rent $2,368

Max offer price $293,000

Occupancy floor 93%

Sensitivity live

Price	-10% $211	-5% $128	+0% $45	+5% $-38	+10% $-121
Rent	-10% $-147	-5% $-51	+0% $45	+5% $141	+10% $237
Rate	-1.0pp $193	-0.5pp $119	base $45	+0.5pp $-31	+1.0pp $-108

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: $73,250
• Closing costs: $8,790
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9435 W Quarter Moon Dr Pendleton, IN	4.0	2.5	2434	$2,215	$0.91	0d	1	0.23mi
9160 Larson Dr Pendleton, IN	5.0	3.5	3059	$2,796	$0.91	25d	1	0.52mi
15905 Tharp Woods Dr Fishers, IN	4.0	3.0	2442	$2,850	$1.17	13d	1	1.26mi

HOA detail

• Monthly dues: $38 · $456/yr
• Likely covers: gaspool

Listing history 21 events

1. 2026-06-17
   status $293,000 Pending 35 DOM
2. 2026-06-17
   days on market $293,000 Active 35 DOM
3. 2026-06-16
   pricedays on market $293,000 Active 34 DOM
4. 2026-06-15
   days on market $298,000 Active 33 DOM
5. 2026-06-13
   days on market $298,000 Active 31 DOM
6. 2026-06-13
   days on market $298,000 Active 30 DOM
7. 2026-06-09
   pricedays on market $298,000 Active 27 DOM
8. 2026-06-08
   days on market $302,000 Active 26 DOM
9. 2026-06-07
   days on market $302,000 Active 25 DOM
10. 2026-06-05
    days on market $302,000 Active 22 DOM
11. 2026-06-03
    days on market $302,000 Active 21 DOM
12. 2026-06-02
    days on market $302,000 Active 20 DOM
13. 2026-06-01
    days on market $302,000 Active 19 DOM
14. 2026-05-31
    days on market $302,000 Active 18 DOM
15. 2026-05-12
    listed $305,000 Active
16. 2019-11-18
    soldstatus $180,000 Sold
17. 2019-11-09
    listed $180,000
18. 2019-11-08
    historical
19. 2017-06-05
    soldstatus $154,000 Sold 507-char remark

    Show marketing remark (507 chars)

    GREAT Floor plan! Nice foyer space, front Home office or Formal dining room. Straight ahead to a spacious LR/Great Room w/bricked Gas FP and open to Huge Dining area w/nearby half bath. Mud room entry from garage leads into Large Kitchen w/SS appliances, lots of cabinets & prep-space. Windows galore provide a wide open view, no rear neighbors! Upstairs Loft, Laundry Room for your convenience, 3 Bedrooms PLUS The Master Suite. Community Clubhouse, Pool, Tennis & Playground. Easy access to I-69.

20. 2017-04-25
    status Pending 507-char remark

    Show marketing remark (507 chars)

    GREAT Floor plan! Nice foyer space, front Home office or Formal dining room. Straight ahead to a spacious LR/Great Room w/bricked Gas FP and open to Huge Dining area w/nearby half bath. Mud room entry from garage leads into Large Kitchen w/SS appliances, lots of cabinets & prep-space. Windows galore provide a wide open view, no rear neighbors! Upstairs Loft, Laundry Room for your convenience, 3 Bedrooms PLUS The Master Suite. Community Clubhouse, Pool, Tennis & Playground. Easy access to I-69.

21. 2017-04-12
    listed $154,000 Active 507-char remark

    Show marketing remark (507 chars)

    GREAT Floor plan! Nice foyer space, front Home office or Formal dining room. Straight ahead to a spacious LR/Great Room w/bricked Gas FP and open to Huge Dining area w/nearby half bath. Mud room entry from garage leads into Large Kitchen w/SS appliances, lots of cabinets & prep-space. Windows galore provide a wide open view, no rear neighbors! Upstairs Loft, Laundry Room for your convenience, 3 Bedrooms PLUS The Master Suite. Community Clubhouse, Pool, Tennis & Playground. Easy access to I-69.

ⓘ 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: $2,087 · $174/mo
• Projected year-2 tax: $2,289 · $191/mo
• Expected delta: +$202/yr (+$17/mo · 9.7%)

ⓘ 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 ≥101°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,097
• − Mortgage interest: −$16,413
• − Property taxes: −$2,087
• − Insurance: −$1,465
• − Repairs & maintenance: −$2,328
• − Management: −$2,328
• − HOA: −$456
• − Depreciation: −$8,524
• Taxable loss: −$4,503
• Est. tax savings @ 24.0%: +$1,081
• After-tax cash flow: $1,620/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: South Madison Community School Corporation
• NCES district ID: 1810440
• Math proficiency: 44% ▼ -13.00%
• Reading proficiency: 52% ▼ -6.00%
• Median HH income: $63,565
• Composite: 42.4/100
• National rank: #3231
• State rank: #60 of 301 in IN

Livability — Ingalls

• Score: 64/100
• State rank: #391
• US rank: #14479

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,209
• Population (ZIP): 17,730

Population outlook (Madison County) Hauer SSP2

• Today (2025): 125,800 people
• By 2030: 122,640 · -2.5%
• By 2040: 115,420 · -8.3%
• By 2050: 108,148 · -14.0%
• By 2075: 91,838 · -27.0%
• By 2100: 75,670 · -39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 6% Black 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 3% Italian 2% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Madison

• 2024 margin: Strong R (+26.9) · D 35.6% · R 62.5% · Other 1.9%
• 2008→2024 swing: -33.5pp toward R · 2008: 6.5pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+22.6 2016: R+25.7 2012: R+4.5 2008: D+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -160.39%
• Current HPI: 227.4921
• 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

+98.1% since first listed

7 events — show timeline

• 2026-05-12 Listed $305,000 MIBOR as Distributed by MLS Grid
• 2019-11-18 Sold (MLS) $180,000 MIBOR as Distributed by MLS Grid
• 2019-11-09 Listed $180,000 MIBOR as Distributed by MLS Grid
• 2019-11-08 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-06-05 Sold (MLS) $154,000 MIBOR as Distributed by MLS Grid
• 2017-04-25 Pending — MIBOR as Distributed by MLS Grid
• 2017-04-12 Listed $154,000 MIBOR as Distributed by MLS Grid

Property tax history

-1.5%/yr

Latest (2024): $2,087 · -0.1% YoY. Source: county tax records.