7467 Woodshire Pl · Indianapolis city (balance), IN 46217

$142,000

3 bd · 1.5 ba · 1,176 sqft · Condo public records · 56 Days on market

Built 1975 $250/mo HOA · 15% of rent

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Why this score? — see what drove the C- 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 +20.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• DSCR +6.5/10.0
• Schools +3.5/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come tour this beautifully updated condo in Perry Township! This move-in ready home offers 3 bedrooms and 1.5 baths. The main level welcomes you with a modern living space featuring a cozy wood-burning fireplace, a separate dining area, and an updated kitchen with quartz countertops and new appliances. Upstairs, you'll find three spacious bedrooms and a full bath. Enjoy low-maintenance living with community amenities including a pool, clubhouse, and playground. The condo includes an assigned parking spot plus additional guest parking. HOA dues include water/sewer. Recent updates include a new roof (October 2025), new HVAC (2026), all new windows, and a new patio door-making this a fantastic

Key facts

• Quartz countertops
• Community amenities
• Updated kitchen

Tags

• UPDATED KITCHEN
• QUARTZ COUNTERTOPS
• WOOD-BURNING FIREPLACE
• COMMUNITY AMENITIES
• ASSIGNED PARKING
• NEW ROOF

Property features AI

Finance

• HOA & community: Has HOA; Monthly HOA fee of $250; HOA covers sewer, snow removal, and tennis courts; Community amenities include parking, snow removal, and tennis courts

Exterior

• Parking: Assigned parking; Assigned outside parking; 1 garage space
• Utilities: Community sewer; Private water; Solid waste service available
• Home design: Residential condominium; Horizontal property regime; Two levels; Entry/primary living on main and upper levels
• Construction: Brick construction; Slab foundation
• Exterior features: Attached condominium; 2+ common walls; Ground-level condo unit; Lot less than 1/4 acre

Interior

• Kitchen: Electric cooktop; Dishwasher; Disposal; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the upper level
• Bathrooms: 1 full bathroom (upper level); 1 half bathroom (main level)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Eat-in kitchen; Supplemental storage; Masonry fireplace in living room; 7 total rooms
• Laundry & utility: In-unit laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $142k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $138k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 C — affects rentability + tenant quality, not the cash-flow math above.
• Perry Township Schools (urban): math 36% / reading 45% proficiency, ranked #138 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.5%/yr); 210 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $982 of loan paydown is wiped out by about $4k 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 56 days — a 3% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $137,740 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.65%
• DSCR: 1.25
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.46% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-10,193
• Equity at exit: $21,173

10-year hold

• IRR: 3.4%
• Equity multiple: 1.26×
• Total profit: $10,147
• Equity at exit: $12,278

Cash invested: $39,760 (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 46217

• Rents YoY: 3.5%
• Active inventory: 210
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,661 high
• Mortgage (P&I): −$745
• Tax from tax record: −$71 /mo · $855/yr
• Insurance: −$59
• HOA: −$250
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $187

Break-even live

Break-even rent $1,424

Max offer price $142,000

Occupancy floor 84%

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: $35,500
• Closing costs: $4,260
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7621 Orchard Village Dr Indianapolis, IN	2.0	2.0	1082	$1,400	$1.29	23d	1	0.19mi
7266 Lockwood Ln Indianapolis, IN	1.0–2.0	1.0–2.0	824	$1,440	$1.75	2d	18	0.22mi
7114 McLain Dr Indianapolis, IN	3.0	2.0	1000	$1,650	$1.65	3d	1	0.44mi
7536 S Katherine Dr Indianapolis, IN	3.0	2.0	1161	$1,816	$1.56	23d	1	0.45mi
8141 Valley Estates Dr Indianapolis, IN	3.0	2.0	1302	$1,650	$1.27	7d	1	0.78mi
6789 S East St Indianapolis, IN	1.0–3.0	1.0–2.0	1075	$1,459	$1.36	2d	24	1.05mi
6512 Bridge Crossing Dr Indianapolis, IN	1.0–2.0	1.0–2.0	965	$2,177	$2.26	1d	27	1.21mi
1009 Lismore Ln Indianapolis, IN	1.0–2.0	1.0–2.0	875	$1,365	$1.56	23d	1	1.35mi
6909 Murphys Landing Ln Indianapolis, IN	1.0–3.0	1.0–2.0	950	$1,792	$1.89	2d	11	1.43mi
1451 E Southport Rd Indianapolis, IN	1.0–3.0	1.0–2.5	1250	$1,656	$1.32	1d	13	1.47mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: watersewerpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-05-07
   price $142,000
2. 2026-04-24
   price $143,999
3. 2026-04-15
   price $146,000
4. 2026-04-10
   price $147,999
5. 2026-04-03
   listed $149,999 Active
6. 2025-11-13
   historical
7. 2025-10-24
   price $92,500
8. 2025-10-17
   price $94,000
9. 2025-10-02
   price $96,000
10. 2025-09-23
    price $98,000
11. 2025-09-13
    listed $99,900 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: $855 · $71/mo
• Projected year-2 tax: $1,031 · $86/mo
• Expected delta: +$176/yr (+$15/mo · 20.6%)

ⓘ 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 ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,936
• − Mortgage interest: −$7,954
• − Property taxes: −$855
• − Insurance: −$710
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − HOA: −$3,000
• − Depreciation: −$4,131
• Taxable income: $96
• Est. tax owed @ 24.0%: −$23
• After-tax cash flow: $2,225/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: Perry Township Schools
• NCES district ID: 1808820
• Math proficiency: 36% ▼ -13.00%
• Reading proficiency: 45% ▼ -6.00%
• Median HH income: $47,170
• Composite: 34.61/100
• National rank: #5153
• State rank: #138 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): 36,917
• Household income: $92,029
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 472.0

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 0.60)
• Race & ethnicity: White 59% Asian 20% Black 10% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 1%
• Foreign-born: 17% · Philippines, Canada, China
• Languages at home: 76% English-only · Other Asian/Pacific 15% Spanish 6% Other Indo-European 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: ▼ -221.18%
• Current HPI: 223.147
• Rent YoY: ▲ 3.46%
• 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

+42.1% since first listed

11 events — show timeline

• 2026-05-07 Price Changed $142,000 MIBOR as Distributed by MLS Grid
• 2026-04-24 Price Changed $143,999 MIBOR as Distributed by MLS Grid
• 2026-04-15 Price Changed $146,000 MIBOR as Distributed by MLS Grid
• 2026-04-10 Price Changed $147,999 MIBOR as Distributed by MLS Grid
• 2026-04-03 Listed $149,999 MIBOR as Distributed by MLS Grid
• 2025-11-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-10-24 Price Changed $92,500 MIBOR as Distributed by MLS Grid
• 2025-10-17 Price Changed $94,000 MIBOR as Distributed by MLS Grid
• 2025-10-02 Price Changed $96,000 MIBOR as Distributed by MLS Grid
• 2025-09-23 Price Changed $98,000 MIBOR as Distributed by MLS Grid
• 2025-09-13 Listed $99,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2025): $855 · -3.9% YoY. Source: county tax records.