7739 Inverness Dr · Indianapolis city (balance), IN 46237

$246,000

3 bd · 1.5 ba · 1,384 sqft · SingleFamily public records · 104 Days on market

Built 1982 0.31 ac lot Est $255k · 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 +17.7/30.0
• ARV discount +9.0/15.0
• DSCR +5.5/10.0
• 1% rule +4.2/10.0
• Schools +4.0/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MUST SEE completely updated home in the highly sought after Franklin Twshp! This home offers 4 bedrooms and 1 1/2 baths. The 1/2 bath could easily be converted to a FULL. Brand new carpet throughout entire home. Sellers just installed new french doors that open to HUGE deck overlooking private backyard. Freshly painted neutral walls with newer windows and upgraded fixtures throughout both levels! Don't miss out on this fantastic opportunity in Muirfield subdivision. Move in ready!

Key facts

• Deck
• Accent backsplash
• 0.31 acre lot

Tags

• PARTIAL FLOORING REPLACEMENT
• ACCENT BACKSPLASH
• DECK

Property features AI

Exterior

• Parking: Attached 2-car garage (458 sq ft)
• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; Residential property; Multi/split stories
• Construction: Vinyl siding; Slab foundation
• Exterior features: Approximately 0.31-acre lot (1/4–1/2 acre)

Interior

• Kitchen: Electric oven; Dishwasher
• Bedrooms: Three main-level bedrooms; One basement bedroom; Primary bedroom details: see remarks
• Bathrooms: One full bath (main) with tub and shower; One half bath in basement
• Heating & cooling: Forced air heating; Cooling: Other
• Interior features: Appliances include dishwasher and electric oven; Finished basement; Multi/split level layout
• Laundry & utility: Solid waste service available

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $246k.

Deal economics

• At list price, monthly cash flow is $200 ($2k/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 $226k (8.3% below list).
• Recommended offer: $224k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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.
• Franklin Township Community School Corporation (urban): math 42% / reading 47% proficiency, ranked #87 of 301 in IN (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mary Adams Elementary School (math 67% / reading 62%, grade B, #78 of 994 statewide, top 9%, 519 students, 49% FRL); Franklin Central High School (math 41% / reading 69%, grade C, #77 of 369 statewide, top 21%, 3,319 students, 46% FRL) — zoned schools average 47% FRL vs 29% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 60% at this address vs 44% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Franklin Township Community School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.8%/yr); 261 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 34% of the median local income ($79k/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

• It's been on market 104 days — a 9% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y 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 $223,860 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.92% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.48%
• DSCR: 1.15
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $254,656
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7640 Gordon Way	0.09mi	3/2.0	1,440 (+4%)	4mo	$266,500	$185	84
7819 Inverness Dr	0.07mi	3/1.5	1,224 (-12%)	2mo	$235,000	$192	76
7528 Gunyon Dr	0.51mi	3/2.0	1,408 (+2%)	0mo	$265,000	$188	71
8042 Southern Trails Pl	0.48mi	3/2.0	1,410 (+2%)	2mo	$290,000	$206	71
8036 Southern Trails Pl	0.47mi	3/2.0	1,424 (+3%)	3mo	$255,000	$179	69
6932 Turnberry Way	0.38mi	3/2.0	1,460 (+6%)	4mo	$249,500	$171	68
6820 Troon Way	0.39mi	3/2.0	1,297 (-6%)	2mo	$235,000	$181	67
7402 5 Points Rd	0.42mi	3/2.0	1,275 (-8%)	1mo	$255,000	$200	65
7545 Turnberry Ct	0.19mi	3/2.0	1,584 (+14%)	1mo	$285,000	$180	64
6549 Southern Cross Dr	0.53mi	3/2.0	1,440 (+4%)	4mo	$250,000	$174	63
6324 Muirfield Way	0.46mi	3/2.0	1,499 (+8%)	2mo	$260,000	$173	61
7509 Gunyon Ct	0.43mi	3/2.5	1,520 (+10%)	4mo	$280,000	$184	56

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.63×
• Total profit: $-25,403
• Equity at exit: $36,679

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,533
• Equity at exit: $21,270

Cash invested: $68,880 (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 46237

• Rents YoY: 3.8%
• Active inventory: 261
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,256 high
• Mortgage (P&I): −$1,290
• Tax from tax record: −$190 /mo · $2,280/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $200

Break-even live

Break-even rent $2,003

Max offer price $246,000

Occupancy floor 86%

Sensitivity live

Price	-10% $339	-5% $269	+0% $200	+5% $130	+10% $60
Rent	-10% $21	-5% $111	+0% $200	+5% $289	+10% $378
Rate	-1.0pp $323	-0.5pp $262	base $200	+0.5pp $136	+1.0pp $71

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: $61,500
• Closing costs: $7,380
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8107 Southern Trails Pl Indianapolis, IN	4.0	2.0	1746	$2,000	$1.15	5d	1	0.48mi
6404 Amarillo Way Indianapolis, IN	3.0	2.0	1494	$1,845	$1.23	4d	1	0.50mi
7825 Jaclyn Dr Indianapolis, IN	3.0	2.0	1244	$1,875	$1.51	4d	1	0.63mi
6210 Carrie Cir Indianapolis, IN	3.0	2.0	1226	$1,890	$1.54	4d	1	0.72mi
7703 Janel Ct Indianapolis, IN	4.0	2.5	1824	$4,950	$2.71	24d	1	0.76mi
5945 Arlo Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1092	$2,020	$1.85	2d	12	1.29mi
7925 Carlington Rd Indianapolis, IN	2.0	2.0	1455	$2,079	$1.43	2d	17	1.39mi

Listing history 30 events

1. 2026-06-18
   days on market $246,000 Active 104 DOM
2. 2026-06-17
   days on market $246,000 Active 103 DOM
3. 2026-06-16
   days on market $246,000 Active 102 DOM
4. 2026-06-15
   days on market $246,000 Active 101 DOM
5. 2026-06-13
   days on market $246,000 Active 99 DOM
6. 2026-06-09
   days on market $246,000 Active 95 DOM
7. 2026-06-08
   days on market $246,000 Active 94 DOM
8. 2026-06-07
   days on market $246,000 Active 93 DOM
9. 2026-06-03
   days on market $246,000 Active 89 DOM
10. 2026-06-02
    days on market $246,000 Active 88 DOM
11. 2026-06-01
    days on market $246,000 Active 87 DOM
12. 2026-05-31
    days on market $246,000 Active 86 DOM
13. 2026-04-30
    price $246,000
14. 2026-04-16
    price $250,000
15. 2026-03-06
    listed $258,000 Active
16. 2026-02-09
    soldstatus $217,400
17. 2025-11-12
    historical
18. 2025-10-02
    price $229,000
19. 2025-09-05
    price $234,900
20. 2025-08-15
    price $237,000
21. 2025-08-06
    listed $245,000 Active
22. 2016-07-01
    soldstatus $123,500 Sold 485-char remark

    Show marketing remark (485 chars)

    MUST SEE completely updated home in the highly sought after Franklin Twshp! This home offers 4 bedrooms and 1 1/2 baths. The 1/2 bath could easily be converted to a FULL. Brand new carpet throughout entire home. Sellers just installed new french doors that open to HUGE deck overlooking private backyard. Freshly painted neutral walls with newer windows and upgraded fixtures throughout both levels! Don't miss out on this fantastic opportunity in Muirfield subdivision. Move in ready!

23. 2016-05-21
    historical Active with Contingency 485-char remark

    Show marketing remark (485 chars)

    MUST SEE completely updated home in the highly sought after Franklin Twshp! This home offers 4 bedrooms and 1 1/2 baths. The 1/2 bath could easily be converted to a FULL. Brand new carpet throughout entire home. Sellers just installed new french doors that open to HUGE deck overlooking private backyard. Freshly painted neutral walls with newer windows and upgraded fixtures throughout both levels! Don't miss out on this fantastic opportunity in Muirfield subdivision. Move in ready!

24. 2016-05-10
    listed $127,900 Active 485-char remark

    Show marketing remark (485 chars)

    MUST SEE completely updated home in the highly sought after Franklin Twshp! This home offers 4 bedrooms and 1 1/2 baths. The 1/2 bath could easily be converted to a FULL. Brand new carpet throughout entire home. Sellers just installed new french doors that open to HUGE deck overlooking private backyard. Freshly painted neutral walls with newer windows and upgraded fixtures throughout both levels! Don't miss out on this fantastic opportunity in Muirfield subdivision. Move in ready!

25. 2012-12-28
    historical
26. 2012-12-20
    soldstatus $71,030
27. 2012-06-30
    listed $75,000
28. 2001-02-22
    soldstatus $122,559
29. 2001-02-15
    soldstatus $97,000
30. 2000-11-01
    listed $99,900

ⓘ 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: $2,280 · $190/mo
• Projected year-2 tax: $2,280 · $190/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 ≥102°F today · 19 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: $27,071
• − Mortgage interest: −$13,780
• − Property taxes: −$2,280
• − Insurance: −$1,230
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − Depreciation: −$7,156
• Taxable loss: −$1,707
• Est. tax savings @ 24.0%: +$410
• After-tax cash flow: $2,805/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: Franklin Township Community School Corporation
• NCES district ID: 1803750
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $67,825
• Composite: 39.91/100
• National rank: #3852
• State rank: #87 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): 43,473
• Household income: $79,078
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1245.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Asian 13% Hispanic / Latino 7% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 12% · Canada, Philippines
• Languages at home: 84% English-only · Other Asian/Pacific 5% Spanish 5% Other Indo-European 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: ▼ -180.33%
• Current HPI: 238.9661
• Rent YoY: ▲ 3.78%
• 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

+146.2% since first listed

18 events — show timeline

• 2026-04-30 Price Changed $246,000 MIBOR as Distributed by MLS Grid
• 2026-04-16 Price Changed $250,000 MIBOR as Distributed by MLS Grid
• 2026-03-06 Listed $258,000 MIBOR as Distributed by MLS Grid
• 2026-02-09 Sold (Public Records) $217,400 Public Records
• 2025-11-12 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-10-02 Price Changed $229,000 MIBOR as Distributed by MLS Grid
• 2025-09-05 Price Changed $234,900 MIBOR as Distributed by MLS Grid
• 2025-08-15 Price Changed $237,000 MIBOR as Distributed by MLS Grid
• 2025-08-06 Listed $245,000 MIBOR as Distributed by MLS Grid
• 2016-07-01 Sold (MLS) $123,500 MIBOR as Distributed by MLS Grid
• 2016-05-21 Contingent — MIBOR as Distributed by MLS Grid
• 2016-05-10 Listed $127,900 MIBOR as Distributed by MLS Grid
• 2012-12-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-12-20 Sold (MLS) $71,030 MIBOR as Distributed by MLS Grid
• 2012-06-30 Listed $75,000 MIBOR as Distributed by MLS Grid
• 2001-02-22 Sold (Public Records) $122,559 Public Records
• 2001-02-15 Sold (MLS) $97,000 MIBOR as Distributed by MLS Grid
• 2000-11-01 Listed $99,900 MIBOR as Distributed by MLS Grid

Property tax history

+10.8%/yr

Latest (2025): $2,280 · +1.1% YoY. Source: county tax records.