14095 Farmstead Dr · Fishers, IN 46040

$659,900

3 bd · 2.5 ba · 3,259 sqft · SingleFamily public records · 45 Days on market

Built 2004 0.46 ac lot $202/sqft · 33% above area Est $718k · 8% under $48/mo HOA · 2% of rent ↓ 9% since listing

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Why this score? — see what drove the F 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 +11.1/15.0
• Schools +5.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +1.2/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

An exceptional opportunity awaits in The Reserve at Geist! 14095 Farmstead DR in FISHERS, IN This expansive single-family residence offers an impressive 4,723 square feet. The two story home features 5 bedrooms, 3.5 bathrooms with a formal dining room and front office. The primary suite has a large soaking tub, separate shower, two walk in closets and a bonus room currently being used as a workout space. The living room has built in shelving surrounding a gas fire place. Hardwood floors flow through a welcoming eat in kitchen. A center island creates amble space for cooking or entertaining guests in a freshly painted kitchen. A spacious, fully renovated basement features a bonus space with endless possibilities, an eating area and bar as well as an additional family room great for movie nights! The basement offers a total of 4 separate storage areas. Situated on a half acre with mature trees, this home has a cozy front porch as well as a concrete patio in a fully fenced in backyard. A must see opportunity in Hamilton County with easy access to Geist Reservoir, Hamilton Town Center, restaurants, shopping and parks! Home warranty included!

Key facts

• Large soaking tub
• Formal dining room
• Built in shelving

Tags

• FORMAL DINING ROOM
• LARGE SOAKING TUB
• SEPARATE SHOWER
• WALK IN CLOSETS
• BONUS ROOM
• BUILT IN SHELVING

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $660k.

Deal economics

• At list price, monthly cash flow is $-3k ($-32k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (71.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (69.9% below list).
• Recommended offer: $191k (71.1% below list) — sets the bar for cash-flow.
• Cap rate 1.5% vs local median 3.6% in Fishers — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 303 active listings in the ZIP; 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 $5k of loan paydown is wiped out by about $20k 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 45 days — a 3% lower offer ($640k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $190,885 (71.1% 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 45 days. Have you received any prior offers? Is the seller open to a 71% 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: 0.30% ✗
• Cap rate: 1.46%
• Cash-on-cash: -17.24%
• DSCR: 0.23
• GRM: 27.7

CMA / ARV

• ARV (median comp): $717,691
• List price: $659,900
• Delta: -8.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10591 Misty Cove Ln	0.39mi	4/3.0 (+1)	3,287 (+1%)	1mo	$725,000	$221	72
9896 Timberwood Ln	0.52mi	4/2.5 (+1)	3,335 (+2%)	7mo	$570,000	$171	61

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -50.6%
• Equity multiple: -0.49×
• Total profit: $-276,205
• Equity at exit: $98,393

10-year hold

• IRR: —
• Equity multiple: -1.48×
• Total profit: $-458,967
• Equity at exit: $57,056

Cash invested: $184,772 (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 46040

• Home prices YoY: -24.4%
• Active inventory: 303
• Price-to-rent: 27.7×

Monthly cashflow live

• Estimated rent: $1,989 medium
• Mortgage (P&I): −$3,461
• Tax from tax record: −$443 /mo · $5,311/yr
• Insurance: −$275
• HOA: −$48
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $-2,655

Break-even live

Break-even rent $5,350

Max offer price $190,885

Occupancy floor —

Sensitivity live

Price	-10% $-2,281	-5% $-2,468	+0% $-2,655	+5% $-2,842	+10% $-3,029
Rent	-10% $-2,812	-5% $-2,734	+0% $-2,655	+5% $-2,576	+10% $-2,498
Rate	-1.0pp $-2,323	-0.5pp $-2,487	base $-2,655	+0.5pp $-2,826	+1.0pp $-3,000

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: $164,975
• Closing costs: $19,797
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $48 · $576/yr
• Likely covers: gas

Listing history 9 events

1. 2026-05-11
   status Pending 1156-char remark

   Show marketing remark (1156 chars)

   An exceptional opportunity awaits in The Reserve at Geist! 14095 Farmstead DR in FISHERS, IN This expansive single-family residence offers an impressive 4,723 square feet. The two story home features 5 bedrooms, 3.5 bathrooms with a formal dining room and front office. The primary suite has a large soaking tub, separate shower, two walk in closets and a bonus room currently being used as a workout space. The living room has built in shelving surrounding a gas fire place. Hardwood floors flow through a welcoming eat in kitchen. A center island creates amble space for cooking or entertaining guests in a freshly painted kitchen. A spacious, fully renovated basement features a bonus space with endless possibilities, an eating area and bar as well as an additional family room great for movie nights! The basement offers a total of 4 separate storage areas. Situated on a half acre with mature trees, this home has a cozy front porch as well as a concrete patio in a fully fenced in backyard. A must see opportunity in Hamilton County with easy access to Geist Reservoir, Hamilton Town Center, restaurants, shopping and parks! Home warranty included!

2. 2026-04-24
   price $659,900 1156-char remark

   Show marketing remark (1156 chars)

   An exceptional opportunity awaits in The Reserve at Geist! 14095 Farmstead DR in FISHERS, IN This expansive single-family residence offers an impressive 4,723 square feet. The two story home features 5 bedrooms, 3.5 bathrooms with a formal dining room and front office. The primary suite has a large soaking tub, separate shower, two walk in closets and a bonus room currently being used as a workout space. The living room has built in shelving surrounding a gas fire place. Hardwood floors flow through a welcoming eat in kitchen. A center island creates amble space for cooking or entertaining guests in a freshly painted kitchen. A spacious, fully renovated basement features a bonus space with endless possibilities, an eating area and bar as well as an additional family room great for movie nights! The basement offers a total of 4 separate storage areas. Situated on a half acre with mature trees, this home has a cozy front porch as well as a concrete patio in a fully fenced in backyard. A must see opportunity in Hamilton County with easy access to Geist Reservoir, Hamilton Town Center, restaurants, shopping and parks! Home warranty included!

3. 2026-04-16
   price $684,900 1156-char remark

   Show marketing remark (1156 chars)

   An exceptional opportunity awaits in The Reserve at Geist! 14095 Farmstead DR in FISHERS, IN This expansive single-family residence offers an impressive 4,723 square feet. The two story home features 5 bedrooms, 3.5 bathrooms with a formal dining room and front office. The primary suite has a large soaking tub, separate shower, two walk in closets and a bonus room currently being used as a workout space. The living room has built in shelving surrounding a gas fire place. Hardwood floors flow through a welcoming eat in kitchen. A center island creates amble space for cooking or entertaining guests in a freshly painted kitchen. A spacious, fully renovated basement features a bonus space with endless possibilities, an eating area and bar as well as an additional family room great for movie nights! The basement offers a total of 4 separate storage areas. Situated on a half acre with mature trees, this home has a cozy front porch as well as a concrete patio in a fully fenced in backyard. A must see opportunity in Hamilton County with easy access to Geist Reservoir, Hamilton Town Center, restaurants, shopping and parks! Home warranty included!

4. 2026-02-27
   listed $689,900 Active 1156-char remark

   Show marketing remark (1156 chars)

   An exceptional opportunity awaits in The Reserve at Geist! 14095 Farmstead DR in FISHERS, IN This expansive single-family residence offers an impressive 4,723 square feet. The two story home features 5 bedrooms, 3.5 bathrooms with a formal dining room and front office. The primary suite has a large soaking tub, separate shower, two walk in closets and a bonus room currently being used as a workout space. The living room has built in shelving surrounding a gas fire place. Hardwood floors flow through a welcoming eat in kitchen. A center island creates amble space for cooking or entertaining guests in a freshly painted kitchen. A spacious, fully renovated basement features a bonus space with endless possibilities, an eating area and bar as well as an additional family room great for movie nights! The basement offers a total of 4 separate storage areas. Situated on a half acre with mature trees, this home has a cozy front porch as well as a concrete patio in a fully fenced in backyard. A must see opportunity in Hamilton County with easy access to Geist Reservoir, Hamilton Town Center, restaurants, shopping and parks! Home warranty included!

5. 2025-10-25
   historical
6. 2025-09-29
   status Active
7. 2025-09-09
   status Pending
8. 2025-08-29
   price $695,000
9. 2025-08-07
   listed $725,000 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: $5,311 · $443/mo
• Projected year-2 tax: $5,460 · $455/mo
• Expected delta: +$149/yr (+$12/mo · 2.8%)

ⓘ 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 0% 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: $23,866
• − Mortgage interest: −$36,965
• − Property taxes: −$5,311
• − Insurance: −$3,300
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − HOA: −$576
• − Depreciation: −$19,197
• Taxable loss: −$45,301
• Est. tax savings @ 24.0%: +$10,872
• After-tax cash flow: $-20,988/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
• City population: 92,467
• Population (ZIP): 17,891

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 (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 4% Asian 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Romanian 2% Portuguese 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Arabic 1% Spanish 1%

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: ▼ -71.54%
• Current HPI: 221.8703
• Rent YoY: —
• Metro: —
• 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

-9.0% since first listed

9 events — show timeline

• 2026-05-11 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-24 Price Changed $659,900 MIBOR as Distributed by MLS Grid
• 2026-04-16 Price Changed $684,900 MIBOR as Distributed by MLS Grid
• 2026-02-27 Listed $689,900 MIBOR as Distributed by MLS Grid
• 2025-10-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-09-29 Relisted — MIBOR as Distributed by MLS Grid
• 2025-09-09 Pending — MIBOR as Distributed by MLS Grid
• 2025-08-29 Price Changed $695,000 MIBOR as Distributed by MLS Grid
• 2025-08-07 Listed $725,000 MIBOR as Distributed by MLS Grid

Property tax history

+3.5%/yr

Latest (2025): $5,311 · -3.7% YoY. Source: county tax records.