5707 Bradston Way · Indianapolis city (balance), IN 46237

$209,000

3 bd · 1.0 ba · 1,999 sqft · Condo public records · 1 Days on market

Built 1978

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Why this score? — see what drove the F 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 +7.5/30.0
• ARV discount +7.5/15.0
• 1% rule +4.4/10.0
• Schools +4.0/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is perfect for the professional couple, or first time buyers. Three floors of open space with two story entry that has beautiful open stairs that showcases the entire home. Large room sizes, tastefully decorat ed, skylights, stone fireplace, small patio for enjoying quiet evenings, wooded surroundings, small pond across street. Office could be 4th bedroom. Kitchen is open with a large center isle, perfect for intertaining. All bedrooms have walk-in closets

Key facts

• Large windows
• Open concept
• Skylight

Tags

• OPEN CONCEPT
• FIREPLACE
• SKYLIGHT
• LARGE WINDOWS
• STAINLESS STEEL APPLIANCES
• ISLAND

Property features AI

Exterior

• Home design: Built in 1978; Living area of 1,999
• Construction: Built in 1978
• Exterior features: Located in the I-65 / South Emerson subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $209k.

Deal economics

• At list price, monthly cash flow is $-258 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (6.3% below list).
• Recommended offer: $196k (6.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 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 $6k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 27y 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 $108k; list at $209k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $195,897 (6.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.94% ✗
• Cap rate: 4.81%
• Cash-on-cash: -5.29%
• DSCR: 0.76
• GRM: 8.9

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: -24.0%
• Equity multiple: 0.17×
• Total profit: $-48,502
• Equity at exit: $31,163

10-year hold

• IRR: -16.3%
• Equity multiple: 0.04×
• Total profit: $-55,917
• Equity at exit: $18,071

Cash invested: $58,520 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,959 high
• Mortgage (P&I): −$1,096
• Tax from tax record: −$131 /mo · $1,567/yr
• Insurance: −$87
• HOA est. from 1 same-building comp: −$492
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $-258

Break-even live

Break-even rent $2,286

Max offer price $163,413

Occupancy floor —

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5310 Shelbyville Rd Indianapolis, IN	4.0	2.0	1860	$1,850	$0.99	2d	1	0.50mi
5844 Timber Lake Blvd Indianapolis, IN	3.0	2.0	1250	$1,856	$1.48	2d	1	0.56mi
5717 Hacienda Ct Indianapolis, IN	3.0	1.5	1322	$1,631	$1.23	16d	1	0.71mi
5729 Ensenada Ave Indianapolis, IN	4.0	2.0	1506	$1,831	$1.22	23d	1	0.76mi
5739 Ensenada Ave Indianapolis, IN	3.0	2.0	1506	$1,700	$1.13	21d	1	0.77mi
5309 Waterton Lakes Dr Indianapolis, IN	3.0	2.0	1390	$1,865	$1.34	7d	1	0.79mi
4901 S Emerson Ave Indianapolis, IN	1.0–4.0	1.0–2.0	998	$1,712	$1.71	1d	10	1.12mi
7251 Windsor Lakes Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1103	$1,800	$1.63	1d	36	1.28mi
5343 S Linwood Ave Indianapolis, IN	4.0	2.5	2268	$3,000	$1.32	12d	1	1.28mi
4744 Altar Ct Indianapolis, IN	4.0	2.5	2280	$2,116	$0.93	19d	1	1.28mi
418 Andrea Dr Beech Grove, IN	4.0	2.0	1626	$1,836	$1.13	23d	1	1.35mi
4436 Victory Cir Indianapolis, IN	3.0	2.5	1712	$1,850	$1.08	17d	1	1.39mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-17
   remarks 497-char remark
2. 2026-06-17
   listed $209,000 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: $1,567 · $131/mo
• Projected year-2 tax: $1,672 · $139/mo
• Expected delta: +$105/yr (+$9/mo · 6.7%)

ⓘ 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 ≥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: $23,508
• − Mortgage interest: −$11,707
• − Property taxes: −$1,567
• − Insurance: −$1,045
• − Repairs & maintenance: −$1,881
• − Management: −$1,881
• − HOA: −$5,904
• − Depreciation: −$6,080
• Taxable loss: −$6,556
• Est. tax savings @ 24.0%: +$1,574
• After-tax cash flow: $-1,523/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

+102.9% since first listed

7 events — show timeline

• 2026-06-18 Listed $209,000 FSBO.com
• 2004-11-15 Sold (MLS) $107,500 MIBOR as Distributed by MLS Grid
• 2004-08-30 Listed $109,900 MIBOR as Distributed by MLS Grid
• 2004-08-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2003-08-27 Listed $109,900 MIBOR as Distributed by MLS Grid
• 2000-04-26 Sold (MLS) $103,000 MIBOR as Distributed by MLS Grid
• 1999-12-23 Listed $103,000 MIBOR as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2025): $1,567 · -6.0% YoY. Source: county tax records.