3648 Fieldmint Ct · Indianapolis city (balance), IN 46235

$220,000

3 bd · 1.5 ba · 1,798 sqft · SingleFamily public records · 1 Days on market

Built 1997 4,008 sqft lot Est $225k · at est. $17/mo HOA · 1% 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 +14.3/30.0
• ARV discount +8.5/15.0
• DSCR +4.3/10.0
• 1% rule +3.7/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is the one you have been waiting for!! Come and take a look at this great 3-bedroom, 2 1/2 bath 2-story home on the Eastside near 38th St & German Church Rd. There are many recent updates which include new vinyl plank flooring & tile throughout! This home has an open floor plan w/ a large living room with a beautiful stone fireplace that opens into the formal dining room. Large master bedroom w/ a vaulted ceiling & a walk-in closet. There is a spacious loft w/ lots of natural light & built-in bookcases. Large, fully fenced back yard w/ a huge paver patio w/ a bar & pergola. There is also a finished 2-car garage. This home is close to shopping, restaurants & interstates for easy access to anywhere in Indy. This one will go fast.

Key facts

• Open-concept kitchen
• Private ensuite bath
• 4,008 sq ft lot

Tags

• PROFESSIONAL LANDSCAPING
• OPEN-CONCEPT KITCHEN
• COZY WOOD-BURNING FIREPLACE
• VINYL HARDWOOD FLOORING
• PRIVATE ENSUITE BATH
• FULLY FENCED BACKYARD

Property features AI

Finance

• Other: Lot under 1/4 acre
• HOA & community: Homeowners association with annual fee; Annual association fee covers entrance/common area maintenance, park and playground; Association amenities include maintenance, park, playground

Exterior

• Parking: Attached 2-car garage; Guest street parking
• Utilities: Public water; Municipal sewer connected; 200+ amp electric service
• Home design: Single family residence; Two levels; Mandatory-fee ownership
• Construction: Vinyl siding with brick exterior; Slab foundation
• Exterior features: Covered patio; Privacy fencing; Street lights; Mature trees; Suburban setting; Storm sewer

Interior

• Kitchen: Electric cooktop; Gas oven; Dishwasher; Garbage disposal; Microwave with hood; Refrigerator; Pantry
• Bedrooms: Primary bedroom with walk-in closet; Three bedrooms located on the upper level
• Flooring: Luxury vinyl plank flooring throughout main and upper rooms
• Bathrooms: Two full bathrooms; One half bathroom; Primary bath includes full tub with shower and whirlpool tub
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning
• Interior features: Attic access; Built-in features; Pantry; Walk-in closets; Painted woodwork; Utility room
• Laundry & utility: Main level laundry room; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $40 ($479/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 $192k (12.5% below list).
• Recommended offer: $192k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Indianapolis Public Schools (urban): math 14% / reading 20% proficiency, ranked #286 of 301 in IN (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 54 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 39% of the median local income ($59k/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 $7k 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.
• 6 sale attempts since 20y 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 $192,439 (12.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.87% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.78%
• DSCR: 1.03
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $224,750
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3648 Fieldmint Ct	0.00mi	3/2.5	1,798 (0%)	0mo	$220,000	$122	96
3693 Dayflower Way	0.09mi	3/2.5	1,680 (-7%)	3mo	$209,900	$125	79
10835 Penwell Way	0.17mi	3/2.5	1,843 (+2%)	15mo	$245,000	$133	72
3542 Lacebark Dr	0.26mi	3/2.5	1,872 (+4%)	6mo	$209,500	$112	72
10833 Penwell Way	0.17mi	3/2.5	1,844 (+3%)	15mo	$246,460	$134	71
3727 Limberpine Dr	0.24mi	4/2.5 (+1)	1,832 (+2%)	17mo	$229,900	$125	62
10804 Penwell	0.23mi	3/2.5	1,843 (+2%)	24mo	$243,460	$132	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 · 2.56% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-33,952
• Equity at exit: $32,803

10-year hold

• IRR: -7.8%
• Equity multiple: 0.52×
• Total profit: $-29,724
• Equity at exit: $19,022

Cash invested: $61,600 (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 46235

• Home prices YoY: -4.3%
• Rents YoY: 2.6%
• Active inventory: 54
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,924 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$218 /mo · $2,616/yr
• Insurance: −$92
• HOA: −$17
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $40

Break-even live

Break-even rent $1,874

Max offer price $220,000

Occupancy floor 93%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10905 Penwell Way Indianapolis, IN	4.0	2.5	2026	$1,950	$0.96	23d	1	0.13mi
3661 Cedar Pine Pl Indianapolis, IN	3.0	3.0	1668	$1,701	$1.02	7d	1	0.16mi
11511 Presidio Dr Indianapolis, IN	4.0	2.5	2328	$2,081	$0.89	12d	1	0.81mi
4129 Winding Park Dr Indianapolis, IN	3.0	3.0	1620	$1,900	$1.17	17d	1	0.96mi
9962 Catalina Dr Indianapolis, IN	3.0	1.0	1236	$1,600	$1.29	4d	1	1.08mi
9949 Ellis Dr Indianapolis, IN	4.0	2.0	1421	$1,580	$1.11	3d	1	1.18mi
4530 Hovenweep Way Indianapolis, IN	4.0	2.5	2011	$2,150	$1.07	7d	1	1.25mi
9513 Baker Ct Indianapolis, IN	4.0	2.0	1702	$1,825	$1.07	7d	1	1.49mi

HOA detail

• Monthly dues: $17 · $204/yr

Listing history 16 events

1. 2026-05-19
   status Pending
2. 2026-05-18
   listed $220,000 Active
3. 2021-11-19
   soldstatus $201,000 Closed 766-char remark

   Show marketing remark (766 chars)

   This is the one you have been waiting for!! Come and take a look at this great 3-bedroom, 2 1/2 bath 2-story home on the Eastside near 38th St & German Church Rd. There are many recent updates which include new vinyl plank flooring & tile throughout! This home has an open floor plan w/ a large living room with a beautiful stone fireplace that opens into the formal dining room. Large master bedroom w/ a vaulted ceiling & a walk-in closet. There is a spacious loft w/ lots of natural light & built-in bookcases. Large, fully fenced back yard w/ a huge paver patio w/ a bar & pergola. There is also a finished 2-car garage. This home is close to shopping, restaurants & interstates for easy access to anywhere in Indy. This one will go fast.

4. 2021-10-29
   status Pending 766-char remark

   Show marketing remark (766 chars)

   This is the one you have been waiting for!! Come and take a look at this great 3-bedroom, 2 1/2 bath 2-story home on the Eastside near 38th St & German Church Rd. There are many recent updates which include new vinyl plank flooring & tile throughout! This home has an open floor plan w/ a large living room with a beautiful stone fireplace that opens into the formal dining room. Large master bedroom w/ a vaulted ceiling & a walk-in closet. There is a spacious loft w/ lots of natural light & built-in bookcases. Large, fully fenced back yard w/ a huge paver patio w/ a bar & pergola. There is also a finished 2-car garage. This home is close to shopping, restaurants & interstates for easy access to anywhere in Indy. This one will go fast.

5. 2021-10-26
   status Active 766-char remark

   Show marketing remark (766 chars)

   This is the one you have been waiting for!! Come and take a look at this great 3-bedroom, 2 1/2 bath 2-story home on the Eastside near 38th St & German Church Rd. There are many recent updates which include new vinyl plank flooring & tile throughout! This home has an open floor plan w/ a large living room with a beautiful stone fireplace that opens into the formal dining room. Large master bedroom w/ a vaulted ceiling & a walk-in closet. There is a spacious loft w/ lots of natural light & built-in bookcases. Large, fully fenced back yard w/ a huge paver patio w/ a bar & pergola. There is also a finished 2-car garage. This home is close to shopping, restaurants & interstates for easy access to anywhere in Indy. This one will go fast.

6. 2021-10-26
   price $193,900 766-char remark

   Show marketing remark (766 chars)

   This is the one you have been waiting for!! Come and take a look at this great 3-bedroom, 2 1/2 bath 2-story home on the Eastside near 38th St & German Church Rd. There are many recent updates which include new vinyl plank flooring & tile throughout! This home has an open floor plan w/ a large living room with a beautiful stone fireplace that opens into the formal dining room. Large master bedroom w/ a vaulted ceiling & a walk-in closet. There is a spacious loft w/ lots of natural light & built-in bookcases. Large, fully fenced back yard w/ a huge paver patio w/ a bar & pergola. There is also a finished 2-car garage. This home is close to shopping, restaurants & interstates for easy access to anywhere in Indy. This one will go fast.

7. 2021-08-24
   status Pending 766-char remark

   Show marketing remark (766 chars)

   This is the one you have been waiting for!! Come and take a look at this great 3-bedroom, 2 1/2 bath 2-story home on the Eastside near 38th St & German Church Rd. There are many recent updates which include new vinyl plank flooring & tile throughout! This home has an open floor plan w/ a large living room with a beautiful stone fireplace that opens into the formal dining room. Large master bedroom w/ a vaulted ceiling & a walk-in closet. There is a spacious loft w/ lots of natural light & built-in bookcases. Large, fully fenced back yard w/ a huge paver patio w/ a bar & pergola. There is also a finished 2-car garage. This home is close to shopping, restaurants & interstates for easy access to anywhere in Indy. This one will go fast.

8. 2021-08-20
   listed $189,900 Active 766-char remark

   Show marketing remark (766 chars)

   This is the one you have been waiting for!! Come and take a look at this great 3-bedroom, 2 1/2 bath 2-story home on the Eastside near 38th St & German Church Rd. There are many recent updates which include new vinyl plank flooring & tile throughout! This home has an open floor plan w/ a large living room with a beautiful stone fireplace that opens into the formal dining room. Large master bedroom w/ a vaulted ceiling & a walk-in closet. There is a spacious loft w/ lots of natural light & built-in bookcases. Large, fully fenced back yard w/ a huge paver patio w/ a bar & pergola. There is also a finished 2-car garage. This home is close to shopping, restaurants & interstates for easy access to anywhere in Indy. This one will go fast.

9. 2015-04-24
   soldstatus $100,000 Sold 477-char remark

   Show marketing remark (477 chars)

   Beautiful 2 story home in Briarbrook Village! This home features 3 bedrooms, 2-1/2 baths, nice kitchen with separate dining area, living room with fireplace, beautiful open entry way, and nice loft with built-in bookshelves. Master bedroom has vaulted ceiling and a master bath with a garden tub. Home also features a 2 car attached garage and sits on a quiet cul-de-sac. Close to shopping, entertainment, dining, schools, etc.. Don't miss the opportunity to see this house!

10. 2015-03-16
    status Pending 477-char remark

    Show marketing remark (477 chars)

    Beautiful 2 story home in Briarbrook Village! This home features 3 bedrooms, 2-1/2 baths, nice kitchen with separate dining area, living room with fireplace, beautiful open entry way, and nice loft with built-in bookshelves. Master bedroom has vaulted ceiling and a master bath with a garden tub. Home also features a 2 car attached garage and sits on a quiet cul-de-sac. Close to shopping, entertainment, dining, schools, etc.. Don't miss the opportunity to see this house!

11. 2015-03-10
    historical Contingent - Backup Pending Contracts 477-char remark

    Show marketing remark (477 chars)

    Beautiful 2 story home in Briarbrook Village! This home features 3 bedrooms, 2-1/2 baths, nice kitchen with separate dining area, living room with fireplace, beautiful open entry way, and nice loft with built-in bookshelves. Master bedroom has vaulted ceiling and a master bath with a garden tub. Home also features a 2 car attached garage and sits on a quiet cul-de-sac. Close to shopping, entertainment, dining, schools, etc.. Don't miss the opportunity to see this house!

12. 2015-02-06
    listed $104,900 Active 477-char remark

    Show marketing remark (477 chars)

    Beautiful 2 story home in Briarbrook Village! This home features 3 bedrooms, 2-1/2 baths, nice kitchen with separate dining area, living room with fireplace, beautiful open entry way, and nice loft with built-in bookshelves. Master bedroom has vaulted ceiling and a master bath with a garden tub. Home also features a 2 car attached garage and sits on a quiet cul-de-sac. Close to shopping, entertainment, dining, schools, etc.. Don't miss the opportunity to see this house!

13. 2007-03-26
    soldstatus $90,000
14. 2007-01-08
    listed $87,900
15. 2006-11-30
    historical
16. 2006-07-26
    listed $94,900

ⓘ 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: $2,616 · $218/mo
• Projected year-2 tax: $2,616 · $218/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,093
• − Mortgage interest: −$12,323
• − Property taxes: −$2,616
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,847
• − Management: −$1,847
• − HOA: −$204
• − Depreciation: −$6,400
• Taxable loss: −$3,246
• Est. tax savings @ 24.0%: +$779
• After-tax cash flow: $1,258/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: Indianapolis Public Schools
• NCES district ID: 1804770
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 20% ▼ -3.00%
• Median HH income: $32,034
• Composite: 13.69/100
• National rank: #9499
• State rank: #286 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): 36,317
• Household income: $58,951
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 1901.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Black 57% White 18% Hispanic / Latino 17% Two or more races 11%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Hispanic 3% Slovak 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 80% English-only · Spanish 15% French/Haitian/Cajun 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: ▼ -12.41%
• Current HPI: 275.1505
• Rent YoY: ▲ 2.56%
• 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

+131.8% since first listed

16 events — show timeline

• 2026-05-19 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-18 Listed $220,000 MIBOR as Distributed by MLS Grid
• 2021-11-19 Sold (MLS) $201,000 MIBOR as Distributed by MLS Grid
• 2021-10-29 Pending — MIBOR as Distributed by MLS Grid
• 2021-10-26 Relisted — MIBOR as Distributed by MLS Grid
• 2021-10-26 Price Changed $193,900 MIBOR as Distributed by MLS Grid
• 2021-08-24 Pending — MIBOR as Distributed by MLS Grid
• 2021-08-20 Listed $189,900 MIBOR as Distributed by MLS Grid
• 2015-04-24 Sold (MLS) $100,000 MIBOR as Distributed by MLS Grid
• 2015-03-16 Pending — MIBOR as Distributed by MLS Grid
• 2015-03-10 Contingent — MIBOR as Distributed by MLS Grid
• 2015-02-06 Listed $104,900 MIBOR as Distributed by MLS Grid
• 2007-03-26 Sold (MLS) $90,000 MIBOR as Distributed by MLS Grid
• 2007-01-08 Listed $87,900 MIBOR as Distributed by MLS Grid
• 2006-11-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-07-26 Listed $94,900 MIBOR as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2025): $2,616 · -2.0% YoY. Source: county tax records.