10210 Carya Ct · Indianapolis city (balance), IN 46259

$359,000

4 bd · 2.5 ba · 2,308 sqft · Land · 43 Days on market

Built 2024 0.31 ac lot $55/mo HOA · 2% of rent ↓ 7% 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 +7.5/15.0
• Cash flow +7.0/30.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Key facts

• 0.31 acre lot
• 2 garage spots
• Built 2024

Property features AI

Finance

• Other: Lot about 0.31 acres (1/4–1/2 acre range); GPS-friendly directions
• HOA & community: Homeowners association with semi-annual fee

Exterior

• Parking: Attached garage with garage door opener; 2-car garage (approximately 420 sq ft)
• Security: Security system; Smoke detectors
• Utilities: Public water; Municipal sewer connected; 200+ amp electric service; Electricity connected; Natural gas connected
• Home design: Single family residence; Two levels; Residential property; Mandatory fee ownership
• Construction: Vinyl with brick and stone exterior; Slab foundation; Built by MI Homes
• Exterior features: Covered patio; Patio area; Fire pit; Cul-de-sac lot; On trail access; Sidewalks and street lights; Small trees (under 20 ft)

Interior

• Kitchen: Electric cooktop; Double oven; Electric oven; Microwave; Dishwasher; Disposal; Refrigerator; Kitchen island; Breakfast bar; Eat-in kitchen; Pantry
• Bedrooms: 4 bedrooms on the upper level; Primary bedroom with walk-in closet
• Bathrooms: 2 full bathrooms (upper); 1 half bathroom (main); Primary bathroom with double sinks and a full shower stall
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Kitchen island; Eat-in kitchen; Pantry; Breakfast bar; Tray ceilings; Walk-in closets; Living room (formal); Utility room; Electric fireplace in living room
• Laundry & utility: Upper level laundry room; Washer and dryer included; Electric water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $359k.

Deal economics

• At list price, monthly cash flow is $-531 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (26.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (31.7% below list).
• Recommended offer: $245k (31.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — 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: Acton Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 534 students, 46% 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 46% FRL vs 29% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 162 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $11k 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 43 days — a 3% lower offer ($348k) is reasonable based on typical stale-listing flexibility.

Recommended offer $245,294 (31.7% 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 43 days. Have you received any prior offers? Is the seller open to a 32% 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. 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: 0.68% ✗
• Cap rate: 4.52%
• Cash-on-cash: -6.34%
• DSCR: 0.72
• GRM: 12.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -27.2%
• Equity multiple: 0.08×
• Total profit: $-91,983
• Equity at exit: $53,528

10-year hold

• IRR: -25.1%
• Equity multiple: -0.23×
• Total profit: $-123,550
• Equity at exit: $31,040

Cash invested: $100,520 (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 46259

• Home prices YoY: -26.8%
• Active inventory: 162
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,453 medium
• Mortgage (P&I): −$1,883
• Tax from tax record: −$382 /mo · $4,583/yr
• Insurance: −$150
• HOA: −$55
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $-531

Break-even live

Break-even rent $3,125

Max offer price $265,142

Occupancy floor —

Sensitivity live

Price	-10% $-328	-5% $-430	+0% $-531	+5% $-633	+10% $-735
Rent	-10% $-725	-5% $-628	+0% $-531	+5% $-434	+10% $-338
Rate	-1.0pp $-351	-0.5pp $-440	base $-531	+0.5pp $-624	+1.0pp $-719

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8842 Faulkner Dr Indianapolis, IN	3.0	2.0	1792	$1,795	$1.00	0d	1	1.37mi

HOA detail

• Monthly dues: $55 · $660/yr

Listing history 6 events

1. 2026-05-22
   status Pending
2. 2026-05-06
   price $359,000
3. 2026-04-22
   price $364,990
4. 2026-04-18
   price $369,900
5. 2026-04-15
   price $375,000
6. 2026-04-09
   listed $385,000 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: $4,583 · $382/mo
• Projected year-2 tax: $4,583 · $382/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $29,435
• − Mortgage interest: −$20,110
• − Property taxes: −$4,583
• − Insurance: −$1,795
• − Repairs & maintenance: −$2,355
• − Management: −$2,355
• − HOA: −$660
• − Depreciation: −$10,444
• Taxable loss: −$12,866
• Est. tax savings @ 24.0%: +$3,088
• After-tax cash flow: $-3,288/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): 15,169
• Household income: $129,345
• Rent vs Own: 4.5% rent · 95.5% own
• Severe rent burden: 78.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 9% Asian 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 4% Lithuanian 4% Italian 3%
• Foreign-born: 7% · Canada, Dominican Republic
• Languages at home: 89% English-only · Other Indo-European 8% Spanish 2% Tagalog/Filipino 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: ▼ -86.96%
• Current HPI: 237.9165
• Rent YoY: —
• 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

-6.8% since first listed

6 events — show timeline

• 2026-05-22 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-06 Price Changed $359,000 MIBOR as Distributed by MLS Grid
• 2026-04-22 Price Changed $364,990 MIBOR as Distributed by MLS Grid
• 2026-04-18 Price Changed $369,900 MIBOR as Distributed by MLS Grid
• 2026-04-15 Price Changed $375,000 MIBOR as Distributed by MLS Grid
• 2026-04-09 Listed $385,000 MIBOR as Distributed by MLS Grid

Property tax history

+32682.4%/yr

Latest (2025): $4,583 · +32682.4% YoY. Source: county tax records.