12857 Rotterdam Rd · Fishers, IN 46037

$375,000

3 bd · 3.5 ba · 3,287 sqft · SingleFamily public records · 92 Days on market

Built 2011 7,841 sqft lot $114/sqft · 27% below area Est $478k · 22% under $58/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).

• ARV discount +15.0/15.0
• Cash flow +5.3/30.0
• Schools +5.3/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare find in Avalon of Fishers. This home has it all with plenty of room to move around with 5 bedrooms and 3.5 baths. The home features a main level bedroom & full bath, full basement with huge finished bonus room and half bath, fenced in back yard, formal dining room, and much more. The home is located near the award winning HSE Schools, Hamilton Town Center Shopping, and major thoroughfares. The home does need some TLC but is priced accordingly.

Key facts

• Main level bedroom
• Formal dining room
• Finished bonus room

Tags

• MAIN LEVEL BEDROOM
• FULL BASEMENT
• FINISHED BONUS ROOM
• FENCED IN BACK YARD
• FORMAL DINING ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-826 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (38.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (29.3% below list).
• Recommended offer: $229k (38.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 83/100 on livability (#11 in IN, #898 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities 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.
• Market conditions: Rents rising fast (+6.7%/yr); 329 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 4,661 units permitted in Hamilton County in 2024 (1,528 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Hamilton County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($341k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $58k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $283k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $229,048 (38.9% 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. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.71% ✗
• Cap rate: 3.65%
• Cash-on-cash: -9.44%
• DSCR: 0.58
• GRM: 11.8

CMA / ARV

• ARV (median comp): $477,838
• List price: $375,000
• Delta: -21.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12770 Bristow Ln	0.13mi	4/3.5 (+1)	3,315 (+1%)	15mo	$500,000	$151	75
12543 Eddington Pl	0.29mi	4/4.5 (+1)	3,311 (+1%)	2mo	$420,000	$127	75
12753 Bristow Ln	0.11mi	4/3.5 (+1)	3,418 (+4%)	13mo	$499,000	$146	72
14156 Avalon Dr E	0.13mi	4/3.5 (+1)	3,089 (-6%)	9mo	$455,000	$147	72
12880 Oxbridge Pl	0.41mi	3/2.5	3,430 (+4%)	1mo	$430,000	$125	69
14030 Avalon East Dr	0.22mi	4/3.0 (+1)	3,168 (-4%)	11mo	$470,000	$148	68
14039 Avalon Blvd	0.27mi	4/3.5 (+1)	3,124 (-5%)	8mo	$467,500	$150	68
12971 Pinner Ave	0.31mi	3/3.0	3,658 (+11%)	0mo	$472,000	$129	65
12959 Balfour Rd	0.39mi	4/2.5 (+1)	3,280 (-0%)	11mo	$515,000	$157	63
14446 Chapelwood Ln	0.72mi	4/3.5 (+1)	3,258 (-1%)	1mo	$430,000	$132	59
13019 Pinner Ave	0.36mi	2/3.0 (-1)	3,548 (+8%)	7mo	$440,000	$124	57
14416 Chapelwood Ln	0.71mi	3/2.5	3,010 (-8%)	1mo	$432,500	$144	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 · 6.71% rent growth · sell at horizon

5-year hold

• IRR: -28.4%
• Equity multiple: 0.02×
• Total profit: $-102,872
• Equity at exit: $55,914

10-year hold

• IRR: -16.0%
• Equity multiple: -0.06×
• Total profit: $-110,850
• Equity at exit: $32,423

Cash invested: $105,000 (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 46037

• Home prices YoY: -18.6%
• Rents YoY: 6.7%
• Active inventory: 329
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,653 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$741 /mo · $8,895/yr
• Insurance: −$156
• HOA: −$58
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $-826

Break-even live

Break-even rent $3,699

Max offer price $229,048

Occupancy floor —

Sensitivity live

Price	-10% $-614	-5% $-720	+0% $-826	+5% $-932	+10% $-1,038
Rent	-10% $-1,036	-5% $-931	+0% $-826	+5% $-721	+10% $-617
Rate	-1.0pp $-637	-0.5pp $-731	base $-826	+0.5pp $-923	+1.0pp $-1,022

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13496 Erlen Dr Fishers, IN	3.0	2.5	2300	$3,500	$1.52	44d	1	1.01mi
12916 Courage Xing Fishers, IN	3.0	2.5	2340	$1,891	$0.81	44d	1	1.45mi

HOA detail

• Monthly dues: $58 · $696/yr

Listing history 26 events

1. 2026-06-21
   days on market $375,000 Active 92 DOM
2. 2026-06-18
   days on market $375,000 Active 89 DOM
3. 2026-06-17
   days on market $375,000 Active 88 DOM
4. 2026-06-16
   days on market $375,000 Active 87 DOM
5. 2026-06-15
   days on market $375,000 Active 86 DOM
6. 2026-06-13
   days on market $375,000 Active 84 DOM
7. 2026-06-09
   days on market $375,000 Active 80 DOM
8. 2026-06-08
   days on market $375,000 Active 79 DOM
9. 2026-06-07
   pricedays on market $375,000 Active 78 DOM
10. 2026-06-03
    days on market $399,900 Active 74 DOM
11. 2026-06-02
    days on market $399,900 Active 73 DOM
12. 2026-06-01
    days on market $399,900 Active 72 DOM
13. 2026-05-31
    days on market $399,900 Active 71 DOM
14. 2026-05-04
    price $410,000 461-char remark

    Show marketing remark (461 chars)

    Rare find in Avalon of Fishers. This home has it all with plenty of room to move around with 5 bedrooms and 3.5 baths. The home features a main level bedroom & full bath, full basement with huge finished bonus room and half bath, fenced in back yard, formal dining room, and much more. The home is located near the award winning HSE Schools, Hamilton Town Center Shopping, and major thoroughfares. The home does need some TLC but is priced accordingly.

15. 2026-04-20
    price $415,500 461-char remark

    Show marketing remark (461 chars)

    Rare find in Avalon of Fishers. This home has it all with plenty of room to move around with 5 bedrooms and 3.5 baths. The home features a main level bedroom & full bath, full basement with huge finished bonus room and half bath, fenced in back yard, formal dining room, and much more. The home is located near the award winning HSE Schools, Hamilton Town Center Shopping, and major thoroughfares. The home does need some TLC but is priced accordingly.

16. 2026-04-05
    price $425,400 461-char remark

    Show marketing remark (461 chars)

    Rare find in Avalon of Fishers. This home has it all with plenty of room to move around with 5 bedrooms and 3.5 baths. The home features a main level bedroom & full bath, full basement with huge finished bonus room and half bath, fenced in back yard, formal dining room, and much more. The home is located near the award winning HSE Schools, Hamilton Town Center Shopping, and major thoroughfares. The home does need some TLC but is priced accordingly.

17. 2026-03-21
    listed $432,900 Active 461-char remark

    Show marketing remark (461 chars)

    Rare find in Avalon of Fishers. This home has it all with plenty of room to move around with 5 bedrooms and 3.5 baths. The home features a main level bedroom & full bath, full basement with huge finished bonus room and half bath, fenced in back yard, formal dining room, and much more. The home is located near the award winning HSE Schools, Hamilton Town Center Shopping, and major thoroughfares. The home does need some TLC but is priced accordingly.

18. 2016-06-17
    soldstatus $282,900 Sold 522-char remark

    Show marketing remark (522 chars)

    FANTASTIC LOCATION! Beautiful & move-in ready 5BR 3.5BA in popular Avalon of Fishers! Fully fenced rear yard boasts great deck & patio for entertaining. Spacious open floorplan, huge kitchen w/center island, staggered cabinets, SS applcs. Expansive master suite w/wall of windows, walk-in closet, luxurious bath. Full finished lower level w/bath and egress windows! Fabulous n’hood amenities: pools, tennis, playground, basketball & walking paths. Minutes to I-69 & Hamilton Town Center. HSE Schools!

19. 2016-06-03
    historical Active with Contingency 522-char remark

    Show marketing remark (522 chars)

    FANTASTIC LOCATION! Beautiful & move-in ready 5BR 3.5BA in popular Avalon of Fishers! Fully fenced rear yard boasts great deck & patio for entertaining. Spacious open floorplan, huge kitchen w/center island, staggered cabinets, SS applcs. Expansive master suite w/wall of windows, walk-in closet, luxurious bath. Full finished lower level w/bath and egress windows! Fabulous n’hood amenities: pools, tennis, playground, basketball & walking paths. Minutes to I-69 & Hamilton Town Center. HSE Schools!

20. 2016-05-26
    status Active 522-char remark

    Show marketing remark (522 chars)

    FANTASTIC LOCATION! Beautiful & move-in ready 5BR 3.5BA in popular Avalon of Fishers! Fully fenced rear yard boasts great deck & patio for entertaining. Spacious open floorplan, huge kitchen w/center island, staggered cabinets, SS applcs. Expansive master suite w/wall of windows, walk-in closet, luxurious bath. Full finished lower level w/bath and egress windows! Fabulous n’hood amenities: pools, tennis, playground, basketball & walking paths. Minutes to I-69 & Hamilton Town Center. HSE Schools!

21. 2016-05-17
    historical Active with Contingency 522-char remark

    Show marketing remark (522 chars)

    FANTASTIC LOCATION! Beautiful & move-in ready 5BR 3.5BA in popular Avalon of Fishers! Fully fenced rear yard boasts great deck & patio for entertaining. Spacious open floorplan, huge kitchen w/center island, staggered cabinets, SS applcs. Expansive master suite w/wall of windows, walk-in closet, luxurious bath. Full finished lower level w/bath and egress windows! Fabulous n’hood amenities: pools, tennis, playground, basketball & walking paths. Minutes to I-69 & Hamilton Town Center. HSE Schools!

22. 2016-05-07
    price $282,900 522-char remark

    Show marketing remark (522 chars)

    FANTASTIC LOCATION! Beautiful & move-in ready 5BR 3.5BA in popular Avalon of Fishers! Fully fenced rear yard boasts great deck & patio for entertaining. Spacious open floorplan, huge kitchen w/center island, staggered cabinets, SS applcs. Expansive master suite w/wall of windows, walk-in closet, luxurious bath. Full finished lower level w/bath and egress windows! Fabulous n’hood amenities: pools, tennis, playground, basketball & walking paths. Minutes to I-69 & Hamilton Town Center. HSE Schools!

23. 2016-05-07
    listed $182,900 Active 522-char remark

    Show marketing remark (522 chars)

    FANTASTIC LOCATION! Beautiful & move-in ready 5BR 3.5BA in popular Avalon of Fishers! Fully fenced rear yard boasts great deck & patio for entertaining. Spacious open floorplan, huge kitchen w/center island, staggered cabinets, SS applcs. Expansive master suite w/wall of windows, walk-in closet, luxurious bath. Full finished lower level w/bath and egress windows! Fabulous n’hood amenities: pools, tennis, playground, basketball & walking paths. Minutes to I-69 & Hamilton Town Center. HSE Schools!

24. 2011-11-07
    historical
25. 2011-10-24
    soldstatus $213,000
26. 2011-07-07
    listed $221,440

ⓘ 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: $8,895 · $741/mo
• Projected year-2 tax: $8,895 · $741/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 4/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $31,836
• − Mortgage interest: −$21,006
• − Property taxes: −$8,895
• − Insurance: −$1,875
• − Repairs & maintenance: −$2,547
• − Management: −$2,547
• − HOA: −$696
• − Depreciation: −$10,909
• Taxable loss: −$16,639
• Est. tax savings @ 24.0%: +$3,993
• After-tax cash flow: $-5,921/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: Hamilton Southeastern Schools
• NCES district ID: 1810650
• Math proficiency: 57% ▼ -11.00%
• Reading proficiency: 59% ▼ -7.00%
• Median HH income: $87,726
• Composite: 53.02/100
• National rank: #1520
• State rank: #14 of 301 in IN

Livability — Fishers

• Score: 83/100
• State rank: #11
• US rank: #898

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fishers, IN
• County: Hamilton County · 337,479 people
• City population: 92,467
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 48,713
• Household income: $141,810
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 738.0

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 381,938 people
• By 2030: 417,496 · +9.3%
• By 2040: 486,684 · +27.4%
• By 2050: 549,805 · +44.0%
• By 2075: 687,078 · +79.9%
• By 2100: 754,495 · +97.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Asian 10% Two or more races 5% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 2% Slovak 2% Iranian 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Other Indo-European 4% Other Asian/Pacific 4% Spanish 2%

Political lean MEDSL · Hamilton

• 2024 margin: Lean R (+6.1) · D 46.0% · R 52.1% · Other 1.9%
• 2008→2024 swing: +16.2pp toward D · 2008: -22.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+6.8 2016: R+19.6 2012: R+34.3 2008: R+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.93%
• Current HPI: 213.5424
• Rent YoY: ▲ 6.71%
• 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

+85.2% since first listed

13 events — show timeline

• 2026-05-04 Price Changed $410,000 MIBOR as Distributed by MLS Grid
• 2026-04-20 Price Changed $415,500 MIBOR as Distributed by MLS Grid
• 2026-04-05 Price Changed $425,400 MIBOR as Distributed by MLS Grid
• 2026-03-21 Listed $432,900 MIBOR as Distributed by MLS Grid
• 2016-06-17 Sold (MLS) $282,900 MIBOR as Distributed by MLS Grid
• 2016-06-03 Contingent — MIBOR as Distributed by MLS Grid
• 2016-05-26 Relisted — MIBOR as Distributed by MLS Grid
• 2016-05-17 Contingent — MIBOR as Distributed by MLS Grid
• 2016-05-07 Price Changed $282,900 MIBOR as Distributed by MLS Grid
• 2016-05-07 Listed $182,900 MIBOR as Distributed by MLS Grid
• 2011-11-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-10-24 Sold (MLS) $213,000 MIBOR as Distributed by MLS Grid
• 2011-07-07 Listed $221,440 MIBOR as Distributed by MLS Grid

Property tax history

+11.8%/yr

Latest (2025): $8,895 · +0.7% YoY. Source: county tax records.