4729 Hittle Dr · Indianapolis city (balance), IN 46239

$249,999

3 bd · 2.0 ba · 2,105 sqft · SingleFamily public records · 329 Days on market

Built 1900 0.46 ac lot Est $318k · 21% under ↓ 15% since listing

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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 +14.0/30.0
• DSCR +4.2/10.0
• Rent growth +4.0/5.0
• Schools +4.0/10.0
• 1% rule +3.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A Rare Find in Franklin Township - Country Feel, Suburban Convenience! Welcome to your next chapter! Nestled on a beautiful . 46-acre lot in the heart of Franklin Township, this spacious 4-bedroom home offers the best of both worlds - the serenity of country living with all the conveniences of city life just minutes away. Imagine coming home to a peaceful retreat that feels worlds away from the hustle and bustle, yet remains close to shopping, dining, parks, and top-rated schools. Highlights You'll Love: -4 bedrooms with room to spread out, grow, and make it your own -A primary suite featuring an impressive 15 x 8 walk-in closet - truly a dream for anyone who loves space an

Key facts

• Primary suite
• Private piece
• Detached garage

Tags

• PRIMARY SUITE
• DETACHED GARAGE
• PRIVATE PIECE

Property features AI

Finance

• Other: Approximately 0.46-acre lot

Exterior

• Parking: Detached 3-car garage
• Utilities: Municipal sewer connected; Private water source; 200+ amp electric service; Natural gas connected; Solid waste service available
• Home design: Single family residence; Two levels
• Construction: Vinyl siding; Concrete perimeter foundation (cellar/other foundations present)
• Exterior features: Deck and porch; Fire pit; Outbuilding

Interior

• Kitchen: Electric oven
• Bedrooms: Primary bedroom with walk-in closet; Four bedrooms total (2 on main level, 2 on upper level)
• Bathrooms: Two full bathrooms total; Primary bathroom is a suite
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Living room fireplace; Jack-and-Jill bath configuration; Bedroom on main level
• Laundry & utility: Washer and dryer (connections provided); Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $31 ($367/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 $208k (16.7% below list).
• Recommended offer: $208k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Franklin Central High School (math 41% / reading 69%, grade C, #77 of 369 statewide, top 21%, 3,319 students, 46% FRL) — zoned schools average 46% FRL vs 29% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 333 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 329 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $208,298 (16.7% below list)

Questions for the listing agent

1. It's been on market 329 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.83% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.52%
• DSCR: 1.02
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $317,855
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5150 Hickory Rd	0.55mi	3/1.5	2,193 (+4%)	1mo	$388,000	$177	65
9125 Imperial Dr	0.33mi	3/2.0	2,352 (+12%)	5mo	$255,000	$108	61
9731 Violet Cir	0.54mi	3/2.5	2,006 (-5%)	6mo	$325,000	$162	60
8735 Carver Dr	0.67mi	4/2.5 (+1)	2,095 (-0%)	3mo	$349,900	$167	59
9234 Fitzgerald Dr	0.48mi	4/2.5 (+1)	2,346 (+11%)	0mo	$354,900	$151	51
9202 Hemingway Dr	0.45mi	4/2.5 (+1)	2,346 (+11%)	4mo	$336,285	$143	49
9238 Hemingway Dr	0.46mi	4/2.5 (+1)	2,346 (+11%)	5mo	$341,900	$146	49
9334 Hemingway Dr	0.50mi	4/2.5 (+1)	2,346 (+11%)	5mo	$330,900	$141	47
9346 Hemingway Dr	0.51mi	4/2.5 (+1)	2,346 (+11%)	6mo	$329,900	$141	45
9408 Hemingway Dr	0.52mi	4/2.5 (+1)	2,346 (+11%)	6mo	$353,950	$151	45
5228 Cartland Dr	0.47mi	4/2.5 (+1)	2,346 (+11%)	9mo	$367,900	$157	44
8866 Twain Ln	0.71mi	2/2.0 (-1)	1,950 (-7%)	9mo	$313,400	$161	42

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 · 6.11% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.54×
• Total profit: $-31,878
• Equity at exit: $37,276

10-year hold

• IRR: 0.7%
• Equity multiple: 1.06×
• Total profit: $3,997
• Equity at exit: $21,615

Cash invested: $70,000 (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 46239

• Home prices YoY: -29.2%
• Rents YoY: 6.1%
• Active inventory: 333
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,083 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$200 /mo · $2,397/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $31

Break-even live

Break-even rent $2,044

Max offer price $249,999

Occupancy floor 94%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9237 Kavanaugh Dr Indianapolis, IN	3.0	2.0	1503	$2,200	$1.46	17d	1	0.37mi
8836 Kipling Dr Indianapolis, IN	4.0	2.5	1686	$2,200	$1.30	23d	1	0.52mi
4127 S Post Rd Indianapolis, IN	3.0	2.0	1460	$1,585	$1.09	23d	1	0.71mi
4146 Palermo Garden Indianapolis, IN	3.0	2.0	1790	$2,100	$1.17	1d	1	0.90mi
10166 Southeastern Ave Indianapolis, IN	2.0	1.5	1625	$1,295	$0.80	23d	1	1.03mi
4526 Wild Turkey Dr Indianapolis, IN	4.0	2.5	1880	$1,950	$1.04	7d	1	1.18mi
4225 Tiana Cir Indianapolis, IN	3.0	2.0	1946	$2,071	$1.06	12d	1	1.19mi
5602 Wild Horse Dr Indianapolis, IN	3.0	2.0	1616	$1,911	$1.18	7d	1	1.37mi
5330 Himalayan Dr Indianapolis, IN	3.0	2.5	2120	$2,179	$1.03	4d	1	1.37mi
8051 Little River Ln Indianapolis, IN	3.0	2.5	2135	$1,801	$0.84	7d	1	1.48mi

Listing history 12 events

1. 2026-06-07
   statusdays on market $249,999 Pending 329 DOM
2. 2026-06-03
   days on market $249,999 Active 328 DOM
3. 2026-06-02
   days on market $249,999 Active 327 DOM
4. 2026-06-01
   days on market $249,999 Active 326 DOM
5. 2026-05-31
   days on market $249,999 Active 325 DOM
6. 2026-05-17
   price $249,999
7. 2026-04-19
   price $265,000
8. 2026-03-31
   price $275,000
9. 2026-01-16
   price $280,000
10. 2025-11-19
    price $285,000
11. 2025-08-21
    price $289,000
12. 2025-07-10
    listed $295,000 Active

ⓘ 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: $2,397 · $200/mo
• Projected year-2 tax: $2,397 · $200/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 ≥101°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: $24,996
• − Mortgage interest: −$14,004
• − Property taxes: −$2,397
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,000
• − Management: −$2,000
• − Depreciation: −$7,273
• Taxable loss: −$3,927
• Est. tax savings @ 24.0%: +$943
• After-tax cash flow: $1,310/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): 33,931
• Household income: $100,331
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 567.0

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 0.61)
• Race & ethnicity: White 57% Black 24% Hispanic / Latino 9% Two or more races 9% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 1%
• Foreign-born: 7% · Canada, Philippines, China
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% Chinese 1%

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: ▼ -93.15%
• Current HPI: 226.1965
• Rent YoY: ▲ 6.11%
• 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

-15.3% since first listed

7 events — show timeline

• 2026-05-17 Price Changed $249,999 MIBOR as Distributed by MLS Grid
• 2026-04-19 Price Changed $265,000 MIBOR as Distributed by MLS Grid
• 2026-03-31 Price Changed $275,000 MIBOR as Distributed by MLS Grid
• 2026-01-16 Price Changed $280,000 MIBOR as Distributed by MLS Grid
• 2025-11-19 Price Changed $285,000 MIBOR as Distributed by MLS Grid
• 2025-08-21 Price Changed $289,000 MIBOR as Distributed by MLS Grid
• 2025-07-10 Listed $295,000 MIBOR as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2025): $2,397 · -4.2% YoY. Source: county tax records.