9647 Brook Meadow Dr · Fishers, IN 46055

$425,000

3 bd · 3.0 ba · 3,120 sqft · SingleFamily public records · 38 Days on market

Built 2012 0.27 ac lot $136/sqft · 14% below area Est $496k · 14% under $29/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).

• ARV discount +14.0/15.0
• Cash flow +6.1/30.0
• Schools +5.3/10.0
• Livability +4.2/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +0.9/10.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in Westbrooke at Geist and the highly desirable HSE School District, this beautiful and well maintained 5 bedroom, 3 full bath home offers over 3,000 square feet with a flexible layout that is hard to find. Enjoy relaxing mornings on the adorable covered front porch before stepping inside to a welcoming entry with a front flex room off the foyer that works well as a home office or formal dining space, along with a main floor bedroom and full bath that is ideal for guests or multigenerational living. The spacious kitchen offers abundant cabinet and counter space, stainless steel appliances, double ovens, pantry, & breakfast nook that opens to the living area with gas fireplace. Upstairs you will find a large loft plus an impressive 19 by 16 primary suite with tray ceiling, oversized walk in closet, and private bath with separate shower and garden tub. Additional highlights include upstairs laundry, walk in closets, two story foyer, garage bump out for extra storage, and backyard fire pit. Conveniently located just minutes from Geist Reservoir, Flat Fork Creek Park, walking trails, dining, and more!

Key facts

• 0.27 acre lot
• 2 garage spots
• Built 2012

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $425k.

Deal economics

• At list price, monthly cash flow is $-785 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $286k (32.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (40.6% below list).
• Recommended offer: $252k (40.6% below list) — sets the bar for 1% rule.

Location & tenants

• 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; 1 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 $13k 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 38 days — a 3% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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 $231k; list at $425k implies a 84% gain — meaningful room to come down on a strong offer.

Recommended offer $252,492 (40.6% 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 38 days. Have you received any prior offers? Is the seller open to a 41% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.59% ✗
• Cap rate: 4.08%
• Cash-on-cash: -7.92%
• DSCR: 0.65
• GRM: 14.0

CMA / ARV

• ARV (median comp): $496,164
• List price: $425,000
• Delta: -14.34%
• 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
9690 Highview Ln	0.47mi	4/2.5 (+1)	3,092 (-1%)	1mo	$507,500	$164	68
4913 Waterline St	0.58mi	4/3.5 (+1)	3,159 (+1%)	1mo	$519,990	$165	64
9711 Ridgecrest Ln	0.42mi	4/2.5 (+1)	2,988 (-4%)	4mo	$394,000	$132	63
9896 Timberwood Ln	0.42mi	4/2.5 (+1)	3,335 (+7%)	7mo	$570,000	$171	56
9741 Forest Ridge Ln	0.56mi	4/3.5 (+1)	3,226 (+3%)	7mo	$549,261	$170	55
9671 Ridgecrest Ln	0.53mi	4/2.5 (+1)	2,988 (-4%)	11mo	$475,000	$159	52
9909 Timberwood Ln	0.41mi	3/3.0	2,696 (-14%)	8mo	$518,000	$192	52
14026 Short Stone Pl	0.37mi	4/3.5 (+1)	2,688 (-14%)	3mo	$461,500	$172	50
9598 N Mariners Crst	0.59mi	3/2.5	2,751 (-12%)	10mo	$428,000	$156	42
9444 Gaskin Dr	0.70mi	3/3.0	2,688 (-14%)	6mo	$490,120	$182	40
5334 Devonshire Way	0.73mi	3/4.0	2,700 (-14%)	3mo	$480,795	$178	37
9671 Holborn Ave	0.62mi	3/4.0	2,688 (-14%)	8mo	$475,000	$177	37

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 · 5.18% rent growth · sell at horizon

5-year hold

• IRR: -28.0%
• Equity multiple: 0.05×
• Total profit: $-113,262
• Equity at exit: $63,369

10-year hold

• IRR: -20.6%
• Equity multiple: -0.17×
• Total profit: $-138,961
• Equity at exit: $36,746

Cash invested: $119,000 (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 46055

• Home prices YoY: -20.1%
• Rents YoY: 5.2%
• Active inventory: 425
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $2,525 medium
• Mortgage (P&I): −$2,229
• Tax from tax record: −$345 /mo · $4,138/yr
• Insurance: −$177
• HOA: −$29
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $-785

Break-even live

Break-even rent $3,519

Max offer price $286,335

Occupancy floor —

Sensitivity live

Price	-10% $-544	-5% $-665	+0% $-785	+5% $-905	+10% $-1,026
Rent	-10% $-984	-5% $-885	+0% $-785	+5% $-685	+10% $-585
Rate	-1.0pp $-571	-0.5pp $-677	base $-785	+0.5pp $-895	+1.0pp $-1,007

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8775 N Springview Dr McCordsville, IN	4.0	2.5	3062	$2,376	$0.78	0d	1	1.35mi

HOA detail

• Monthly dues: $29 · $348/yr
• Likely covers: gas

Listing history 13 events

1. 2026-05-16
   price $425,000 1127-char remark

   Show marketing remark (1127 chars)

   Located in Westbrooke at Geist and the highly desirable HSE School District, this beautiful and well maintained 5 bedroom, 3 full bath home offers over 3,000 square feet with a flexible layout that is hard to find. Enjoy relaxing mornings on the adorable covered front porch before stepping inside to a welcoming entry with a front flex room off the foyer that works well as a home office or formal dining space, along with a main floor bedroom and full bath that is ideal for guests or multigenerational living. The spacious kitchen offers abundant cabinet and counter space, stainless steel appliances, double ovens, pantry, & breakfast nook that opens to the living area with gas fireplace. Upstairs you will find a large loft plus an impressive 19 by 16 primary suite with tray ceiling, oversized walk in closet, and private bath with separate shower and garden tub. Additional highlights include upstairs laundry, walk in closets, two story foyer, garage bump out for extra storage, and backyard fire pit. Conveniently located just minutes from Geist Reservoir, Flat Fork Creek Park, walking trails, dining, and more!

2. 2026-05-11
   price $430,000 1127-char remark

   Show marketing remark (1127 chars)

   Located in Westbrooke at Geist and the highly desirable HSE School District, this beautiful and well maintained 5 bedroom, 3 full bath home offers over 3,000 square feet with a flexible layout that is hard to find. Enjoy relaxing mornings on the adorable covered front porch before stepping inside to a welcoming entry with a front flex room off the foyer that works well as a home office or formal dining space, along with a main floor bedroom and full bath that is ideal for guests or multigenerational living. The spacious kitchen offers abundant cabinet and counter space, stainless steel appliances, double ovens, pantry, & breakfast nook that opens to the living area with gas fireplace. Upstairs you will find a large loft plus an impressive 19 by 16 primary suite with tray ceiling, oversized walk in closet, and private bath with separate shower and garden tub. Additional highlights include upstairs laundry, walk in closets, two story foyer, garage bump out for extra storage, and backyard fire pit. Conveniently located just minutes from Geist Reservoir, Flat Fork Creek Park, walking trails, dining, and more!

3. 2026-04-30
   price $435,000 1127-char remark

   Show marketing remark (1127 chars)

   Located in Westbrooke at Geist and the highly desirable HSE School District, this beautiful and well maintained 5 bedroom, 3 full bath home offers over 3,000 square feet with a flexible layout that is hard to find. Enjoy relaxing mornings on the adorable covered front porch before stepping inside to a welcoming entry with a front flex room off the foyer that works well as a home office or formal dining space, along with a main floor bedroom and full bath that is ideal for guests or multigenerational living. The spacious kitchen offers abundant cabinet and counter space, stainless steel appliances, double ovens, pantry, & breakfast nook that opens to the living area with gas fireplace. Upstairs you will find a large loft plus an impressive 19 by 16 primary suite with tray ceiling, oversized walk in closet, and private bath with separate shower and garden tub. Additional highlights include upstairs laundry, walk in closets, two story foyer, garage bump out for extra storage, and backyard fire pit. Conveniently located just minutes from Geist Reservoir, Flat Fork Creek Park, walking trails, dining, and more!

4. 2026-04-10
   listed $440,000 Active 1127-char remark

   Show marketing remark (1127 chars)

   Located in Westbrooke at Geist and the highly desirable HSE School District, this beautiful and well maintained 5 bedroom, 3 full bath home offers over 3,000 square feet with a flexible layout that is hard to find. Enjoy relaxing mornings on the adorable covered front porch before stepping inside to a welcoming entry with a front flex room off the foyer that works well as a home office or formal dining space, along with a main floor bedroom and full bath that is ideal for guests or multigenerational living. The spacious kitchen offers abundant cabinet and counter space, stainless steel appliances, double ovens, pantry, & breakfast nook that opens to the living area with gas fireplace. Upstairs you will find a large loft plus an impressive 19 by 16 primary suite with tray ceiling, oversized walk in closet, and private bath with separate shower and garden tub. Additional highlights include upstairs laundry, walk in closets, two story foyer, garage bump out for extra storage, and backyard fire pit. Conveniently located just minutes from Geist Reservoir, Flat Fork Creek Park, walking trails, dining, and more!

5. 2022-09-30
   historical
6. 2022-09-22
   price $419,900
7. 2022-09-09
   price $429,900
8. 2022-08-25
   listed $439,900 Active
9. 2022-05-21
   historical
10. 2022-05-13
    listed $399,995 Active
11. 2012-12-14
    historical
12. 2012-12-14
    soldstatus $231,120
13. 2012-08-08
    listed $249,995

ⓘ 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: $4,138 · $345/mo
• Projected year-2 tax: $4,138 · $345/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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,299
• − Mortgage interest: −$23,807
• − Property taxes: −$4,138
• − Insurance: −$2,125
• − Repairs & maintenance: −$2,424
• − Management: −$2,424
• − HOA: −$348
• − Depreciation: −$12,364
• Taxable loss: −$17,330
• Est. tax savings @ 24.0%: +$4,159
• After-tax cash flow: $-5,260/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: Hancock County · 59,521 people
• City population: 92,467
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 16,010
• Household income: $113,784
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 58.0

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 (77%)
• Race & ethnicity: White 77% Black 13% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Lithuanian 3% Italian 3% Romanian 3%
• Foreign-born: 4% · Canada, Vietnam, Jamaica
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -52.35%
• Current HPI: 207.9764
• Rent YoY: ▲ 5.18%
• 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

+70.0% since first listed

13 events — show timeline

• 2026-05-16 Price Changed $425,000 MIBOR as Distributed by MLS Grid
• 2026-05-11 Price Changed $430,000 MIBOR as Distributed by MLS Grid
• 2026-04-30 Price Changed $435,000 MIBOR as Distributed by MLS Grid
• 2026-04-10 Listed $440,000 MIBOR as Distributed by MLS Grid
• 2022-09-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-09-22 Price Changed $419,900 MIBOR as Distributed by MLS Grid
• 2022-09-09 Price Changed $429,900 MIBOR as Distributed by MLS Grid
• 2022-08-25 Listed $439,900 MIBOR as Distributed by MLS Grid
• 2022-05-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-05-13 Listed $399,995 MIBOR as Distributed by MLS Grid
• 2012-12-14 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-12-14 Sold (MLS) $231,120 MIBOR as Distributed by MLS Grid
• 2012-08-08 Listed $249,995 MIBOR as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2025): $4,138 · +5.9% YoY. Source: county tax records.