13893 Oak Haven Dr

Fishers, IN 46055

$515,000F

3 bd · 2.5 ba · 3,416 sqft · Built 2009 · SingleFamily · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,569/mo
• Mortgage (P&I): −$2,701
• Tax + insurance: −$704
• HOA: −$54
• Vac / Maint / Mgmt: −$539
• Net cashflow: $-1,429/mo
• Annual: $-17,150/yr
• Cap rate: 2.96%
• Cash-on-cash: -11.89%
• DSCR: 0.47
• 1% rule: 0.50%
• Cash to close: $144,200

Investor read

• This is a 3-bed/2.5-bath single-family listed at $515k.
• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (49.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (50.1% below list).
• It's been on market 64 days — a 6% lower offer ($484k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $257k (50.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#11 in IN, #898 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Hamilton Southeastern Schools (suburban): math 57% / reading 59% proficiency, ranked #14 of 301 in IN (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Geist Elementary School (math 78% / reading 69%, grade A, #23 of 994 statewide, top 3%, 707 students, 13% FRL); Hamilton Se Int And Jr High Sch (math 50% / reading 60%, grade B-, #26 of 330 statewide, top 8%, 1,269 students, 13% FRL); Hamilton Southeastern Hs (math 66% / reading 85%, grade A-, #7 of 369 statewide, top 2%, 3,450 students, 15% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: Rents rising fast (+5.2%/yr); 425 active listings in the ZIP; high-income renter base; 4,661 units permitted in Hamilton County in 2024 (1,528 in 5+ unit buildings).
• Hamilton County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 17y ago; this cycle's ask has dropped $45k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $275k; list at $515k implies a 87% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• 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?
• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 50% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.