6278 Lakeland Blvd · Indianapolis city (balance), IN 46234

$319,900

3 bd · 2.0 ba · 1,368 sqft · SingleFamily public records · 2 Days on market

Built 1967 0.50 ac lot Est $320k · at est.

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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 +11.7/30.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• Rent growth +4.4/5.0
• DSCR +3.4/10.0
• 1% rule +2.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 BR, 2 BA updated brick ranch sits in a great location in a quiet parklike setting on .5 acres with a fully fenced-in backyard with voluntary HOA. Spend your summer by the fully decked swimming pool with a pool house/storage. Cool off on your 200 SF screed-in porch, or enjoy an evening fire on the 12x10 Patio. Fish or Paddle in the private community pond. Brownsburg Schools and Close to Eagle Creek Park. Gorgeous Hardwood Floors throughout with Atlas Concord Ceramic Tile Floor in Kitchen and Entry, Custom Kitchen Remodel 2020, New Furnace/AC 2018, New Windows 2018, Updated Lighting added recessed lighting and ceiling fans 2016, New Siding 2021. Many more updates. Don't miss this one. It will go quickly.

Key facts

• In-ground pool
• Screened-in porch
• Remodeled kitchen

Tags

• IN-GROUND POOL
• POOL HOUSE
• SCREENED-IN PORCH
• FIRE PIT AREA
• HARDWOOD FLOORS
• REMODELED KITCHEN

Property features AI

Finance

• Other: Property sits on approximately 0.5 acre with mature trees

Exterior

• Parking: Attached garage; Finished 2-car garage with approximately 400 sq ft; Garage door opener; Keyless entry
• Utilities: Municipal sewer connected; Private well water; 100 amp electric service; Cable connected; Natural gas connected; Septic system present; Renewable fuel source
• Home design: Single-family residence; Updated / remodeled condition; One-level home; South-facing; Has a view
• Construction: Brick and vinyl siding exterior; Block foundation
• Exterior features: Covered, screened patio; Patio; Fire pit; Storage shed; Full yard fence

Interior

• Kitchen: Dishwasher; Electric oven; Microwave with hood; Disposal; Refrigerator
• Bedrooms: Three bedrooms on the main level (examples: 10x9, 13x9, and additional bedroom dimensions listed)
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: High-efficiency natural gas heating (90%+ AFUE); Central air conditioning
• Interior features: Attic pull-down stairs; Hardwood floors; Smart thermostat; Laundry located in the garage
• Laundry & utility: Washer and dryer connections; Washer and dryer included; Electric water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $303k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (23.8% below list).
• Recommended offer: $244k (23.8% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 D — affects rentability + tenant quality, not the cash-flow math above.
• Brownsburg Community School Corporation (suburban): math 72% / reading 72% proficiency, ranked #2 of 301 in IN (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: White Lick Elementary School (math 83% / reading 77%, grade A+, #7 of 994 statewide, top 1%, 658 students, 28% FRL); Brownsburg High School (math 61% / reading 83%, grade B+, #12 of 369 statewide, top 4%, 3,177 students, 33% FRL).
• Market conditions: Rents rising fast (+7.6%/yr); 66 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).
• This rent runs 35% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 25y 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.

Recommended offer $243,762 (23.8% 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 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.76% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $320,112
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6278 Lakeland Blvd	0.00mi	3/2.0	1,368 (0%)	0mo	$320,000	$234	100
10358 River Park Way	0.30mi	2/2.0 (-1)	1,243 (-9%)	0mo	$279,990	$225	66
10362 River Park Way	0.29mi	2/2.0 (-1)	1,227 (-10%)	14mo	$286,800	$234	53
10349 Gateway Dr	0.36mi	2/2.0 (-1)	1,243 (-9%)	13mo	$296,931	$239	52
10363 River Park Way	0.30mi	2/2.0 (-1)	1,247 (-9%)	18mo	$275,709	$221	51
6046 Bluecrest Dr	0.29mi	2/2.0 (-1)	1,247 (-9%)	19mo	$286,141	$229	50
6036 Bluecrest Dr	0.34mi	2/2.0 (-1)	1,243 (-9%)	18mo	$305,320	$246	48

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 · 7.56% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.48×
• Total profit: $-46,144
• Equity at exit: $47,698

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $4,612
• Equity at exit: $27,659

Cash invested: $89,572 (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 46234

• Home prices YoY: -33.0%
• Rents YoY: 7.6%
• Active inventory: 66
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,438 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$208 /mo · $2,494/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $-93

Break-even live

Break-even rent $2,555

Max offer price $303,472

Occupancy floor 99%

Sensitivity live

Price	-10% $88	-5% $-2	+0% $-93	+5% $-184	+10% $-274
Rent	-10% $-286	-5% $-189	+0% $-93	+5% $3	+10% $100
Rate	-1.0pp $68	-0.5pp $-12	base $-93	+0.5pp $-176	+1.0pp $-260

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10309 Gateway Dr Indianapolis, IN	2.0	2.0	1260	$2,295	$1.82	45d	1	0.43mi
5548 James Blair Dr Indianapolis, IN	3.0	2.0	1572	$2,000	$1.27	25d	1	0.74mi

Listing history 22 events

1. 2026-05-18
   status Pending
2. 2026-05-16
   listed $319,900 Active
3. 2023-06-27
   soldstatus $300,000 Closed 720-char remark

   Show marketing remark (720 chars)

   This 3 BR, 2 BA updated brick ranch sits in a great location in a quiet parklike setting on .5 acres with a fully fenced-in backyard with voluntary HOA. Spend your summer by the fully decked swimming pool with a pool house/storage. Cool off on your 200 SF screed-in porch, or enjoy an evening fire on the 12x10 Patio. Fish or Paddle in the private community pond. Brownsburg Schools and Close to Eagle Creek Park. Gorgeous Hardwood Floors throughout with Atlas Concord Ceramic Tile Floor in Kitchen and Entry, Custom Kitchen Remodel 2020, New Furnace/AC 2018, New Windows 2018, Updated Lighting added recessed lighting and ceiling fans 2016, New Siding 2021. Many more updates. Don't miss this one. It will go quickly.

4. 2023-05-21
   status Pending 720-char remark

   Show marketing remark (720 chars)

   This 3 BR, 2 BA updated brick ranch sits in a great location in a quiet parklike setting on .5 acres with a fully fenced-in backyard with voluntary HOA. Spend your summer by the fully decked swimming pool with a pool house/storage. Cool off on your 200 SF screed-in porch, or enjoy an evening fire on the 12x10 Patio. Fish or Paddle in the private community pond. Brownsburg Schools and Close to Eagle Creek Park. Gorgeous Hardwood Floors throughout with Atlas Concord Ceramic Tile Floor in Kitchen and Entry, Custom Kitchen Remodel 2020, New Furnace/AC 2018, New Windows 2018, Updated Lighting added recessed lighting and ceiling fans 2016, New Siding 2021. Many more updates. Don't miss this one. It will go quickly.

5. 2023-05-18
   listed $285,000 Active 720-char remark

   Show marketing remark (720 chars)

   This 3 BR, 2 BA updated brick ranch sits in a great location in a quiet parklike setting on .5 acres with a fully fenced-in backyard with voluntary HOA. Spend your summer by the fully decked swimming pool with a pool house/storage. Cool off on your 200 SF screed-in porch, or enjoy an evening fire on the 12x10 Patio. Fish or Paddle in the private community pond. Brownsburg Schools and Close to Eagle Creek Park. Gorgeous Hardwood Floors throughout with Atlas Concord Ceramic Tile Floor in Kitchen and Entry, Custom Kitchen Remodel 2020, New Furnace/AC 2018, New Windows 2018, Updated Lighting added recessed lighting and ceiling fans 2016, New Siding 2021. Many more updates. Don't miss this one. It will go quickly.

6. 2016-03-17
   soldstatus $156,500 Sold 105-char remark

   Show marketing remark (105 chars)

   Lovely 3 bedroom ranch in Hendricks county! Relax by the welcoming inground pool! Newer exterior paint!

7. 2016-02-14
   status Pending 105-char remark

   Show marketing remark (105 chars)

   Lovely 3 bedroom ranch in Hendricks county! Relax by the welcoming inground pool! Newer exterior paint!

8. 2016-01-08
   listed $159,900 Active 105-char remark

   Show marketing remark (105 chars)

   Lovely 3 bedroom ranch in Hendricks county! Relax by the welcoming inground pool! Newer exterior paint!

9. 2015-10-01
   historical
10. 2015-06-10
    listed $169,900 Active
11. 2014-10-16
    historical
12. 2014-06-11
    listed $165,000
13. 2013-11-07
    historical
14. 2013-07-29
    listed $169,000
15. 2006-06-29
    soldstatus $136,000
16. 2006-04-06
    listed $142,900
17. 2006-01-30
    historical
18. 2006-01-27
    listed $142,900
19. 2005-12-03
    historical
20. 2005-06-03
    listed $142,900
21. 2001-04-19
    soldstatus $144,000
22. 2001-01-31
    listed $147,900

ⓘ 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: $2,494 · $208/mo
• Projected year-2 tax: $2,607 · $217/mo
• Expected delta: +$113/yr (+$9/mo · 4.5%)

ⓘ 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 3/10 Moderate 7 d/yr ≥100°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,251
• − Mortgage interest: −$17,919
• − Property taxes: −$2,494
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,340
• − Management: −$2,340
• − Depreciation: −$9,306
• Taxable loss: −$6,748
• Est. tax savings @ 24.0%: +$1,619
• After-tax cash flow: $504/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: Brownsburg Community School Corporation
• NCES district ID: 1801020
• Math proficiency: 72% ▼ -5.00%
• Reading proficiency: 72% ▼ -4.00%
• Median HH income: $75,304
• Composite: 63.45/100
• National rank: #616
• State rank: #2 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): 28,300
• Household income: $83,190
• Rent vs Own: 23.5% rent · 76.5% own
• Severe rent burden: 764.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Black 19% Hispanic / Latino 10% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 2% Romanian 2% Iranian 2%
• Foreign-born: 11% · Canada, China, United Kingdom
• Languages at home: 82% English-only · Spanish 8% Other Indo-European 3% French/Haitian/Cajun 3%

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: ▼ -106.23%
• Current HPI: 215.5854
• Rent YoY: ▲ 7.56%
• 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

+116.3% since first listed

22 events — show timeline

• 2026-05-18 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-16 Listed $319,900 MIBOR as Distributed by MLS Grid
• 2023-06-27 Sold (MLS) $300,000 MIBOR as Distributed by MLS Grid
• 2023-05-21 Pending — MIBOR as Distributed by MLS Grid
• 2023-05-18 Listed $285,000 MIBOR as Distributed by MLS Grid
• 2016-03-17 Sold (MLS) $156,500 MIBOR as Distributed by MLS Grid
• 2016-02-14 Pending — MIBOR as Distributed by MLS Grid
• 2016-01-08 Listed $159,900 MIBOR as Distributed by MLS Grid
• 2015-10-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-06-10 Listed $169,900 MIBOR as Distributed by MLS Grid
• 2014-10-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-06-11 Listed $165,000 MIBOR as Distributed by MLS Grid
• 2013-11-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-07-29 Listed $169,000 MIBOR as Distributed by MLS Grid
• 2006-06-29 Sold (MLS) $136,000 MIBOR as Distributed by MLS Grid
• 2006-04-06 Listed $142,900 MIBOR as Distributed by MLS Grid
• 2006-01-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-01-27 Listed $142,900 MIBOR as Distributed by MLS Grid
• 2005-12-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-06-03 Listed $142,900 MIBOR as Distributed by MLS Grid
• 2001-04-19 Sold (MLS) $144,000 MIBOR as Distributed by MLS Grid
• 2001-01-31 Listed $147,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.7%/yr

Latest (2025): $2,494 · +35.6% YoY. Source: county tax records.