9565 Edgewater Ct · Brownsburg, IN 46112

$270,000

3 bd · 2.0 ba · 1,527 sqft · SingleFamily public records · 1 Days on market

Built 1972 0.49 ac lot Est $392k · 31% under · waterfront $50/mo HOA · 2% of rent

---

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).

• ARV discount +15.0/15.0
• Cash flow +13.1/30.0
• Schools +6.3/10.0
• Rent growth +4.1/5.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 BEDROOM PAINTED BRICK VENEER RANCH, 2 FULL BATHS, CUSTOM CLOSET DESIGNS, HOME BACKS UP TO LAKEWOOD TERRACE WITH APPROX 300 FT FRONTAGE ON WATER, OVERSIZED 2 CAR ATTACHED GAR WITH STORAGE SHED ATTACHED, UTILITY ROOM OFF GAR FOR ACCESS TO WATER HEATER, SOFTENER AND FURNACE IN ATTIC CRAWL, STACKED WASHER/DRYER IN CLOSET IN HOUSE. KITCHEN/GREAT ROOM COMBO WITH FULL WALL FIREPLACE, SEPARATE LIVING ROOM WITH HARDWOOD FLOORS, GAS LINES HAS BEEN ROUGHED IN FOR RANGE AND WATER HEATER,

Key facts

• Water frontage
• Fresh paint
• Natural light

Tags

• WATERFRONT
• WATER FRONTAGE
• UPDATED FLOORING
• FRESH PAINT
• UPDATED KITCHEN
• NATURAL LIGHT

Property features AI

Finance

• Other: Property listed as residential with view; Lot characterized by mature trees in a suburban setting (approx. 0.49 acre)
• HOA & community: Mandatory HOA with annual fee (maintenance and irrigation included); Low-maintenance lifestyle

Exterior

• Parking: Attached 2-car garage (approx. 580 sq ft)
• Security: Security system; Smoke detectors
• Utilities: Private water; Septic sewage
• Home design: Single-family residence; One level
• Construction: Brick and stucco exterior; Crawl space foundation
• Exterior features: Covered patio/porch; Partial wrought iron fencing; Located on or with access to waterfront and water views (lake front, lake privileges, water access)

Interior

• Kitchen: Microwave; Refrigerator; Dishwasher
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level; Primary bath with tub and shower
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Breakfast bar; Laundry in unit; Masonry fireplace in living room
• Laundry & utility: Washer and dryer included; Laundry closet with full connections

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-8 ($-99/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (16.8% below list).
• Recommended offer: $225k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.9% in Brownsburg — 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 75/100 on livability (#61 in IN, #4,105 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Brownsburg Community School Corporation (suburban): math 72% / reading 72% proficiency, ranked #2 of 301 in IN (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Brownsburg High School (math 61% / reading 83%, grade B+, #12 of 369 statewide, top 4%, 3,177 students, 33% FRL) — zoned schools average 33% FRL vs 17% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.3%/yr); 341 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,294 units permitted in Hendricks County in 2024 (18 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.
• Hendricks County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y 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 $224,773 (16.8% 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. Built in 1972 — 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. 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $391,676
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3085 N County Road 950 E	0.05mi	3/2.0	1,520 (-0%)	8mo	$315,000	$207	90
3225 N County Road 950 E	0.12mi	3/2.0	1,501 (-2%)	20mo	$275,000	$183	74
9189 Dawn Dr	0.32mi	3/2.0	1,545 (+1%)	11mo	$250,000	$162	74
3530 N County Road 950 E	0.41mi	3/2.0	1,540 (+1%)	14mo	$267,875	$174	68
9170 E County Road 300 N	0.29mi	3/2.0	1,369 (-10%)	2mo	$260,000	$190	67
9458 Dawn Dr	0.17mi	3/2.0	1,326 (-13%)	5mo	$278,000	$210	66
9303 Leroy Rd	0.17mi	3/2.5	1,677 (+10%)	13mo	$288,000	$172	63
3605 N County Road 950 E	0.46mi	4/3.0 (+1)	1,600 (+5%)	1mo	$284,900	$178	61
3700 Country Ln	0.62mi	3/2.0	1,540 (+1%)	23mo	$354,000	$230	51
3733 N County Road 900 E	0.75mi	3/2.0	1,694 (+11%)	16mo	$340,000	$201	34

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 · 6.31% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.52×
• Total profit: $-36,562
• Equity at exit: $40,258

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $1,389
• Equity at exit: $23,345

Cash invested: $75,600 (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 46112

• Rents YoY: 6.3%
• Active inventory: 341
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,248 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$206 /mo · $2,467/yr
• Insurance: −$112
• HOA: −$50
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $-8

Break-even live

Break-even rent $2,258

Max offer price $268,536

Occupancy floor 95%

Sensitivity live

Price	-10% $145	-5% $68	+0% $-8	+5% $-85	+10% $-161
Rent	-10% $-186	-5% $-97	+0% $-8	+5% $80	+10% $169
Rate	-1.0pp $128	-0.5pp $60	base $-8	+0.5pp $-78	+1.0pp $-149

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2135 Redland Rd Indianapolis, IN	2.0–3.0	2.0	1136	$1,429	$1.26	4d	1	1.17mi
2294 McGregor Dr Avon, IN	4.0	2.5	1951	$2,205	$1.13	46d	1	1.17mi
8267 Templederry Dr Brownsburg, IN	3.0	2.0	1804	$2,145	$1.19	46d	1	1.19mi
10483 Day Star Dr Indianapolis, IN	3.0	2.5	1840	$2,071	$1.13	46d	1	1.27mi
8802 Benjamin Ln Avon, IN	4.0	3.0	2229	$2,395	$1.07	0d	1	1.35mi
8802 Benjamin Ln Avon, IN	4.0	3.0	2229	$2,395	$1.07	5d	1	1.35mi
460 Brookview Dr Brownsburg, IN	4.0	2.5	2240	$2,600	$1.16	46d	1	1.40mi
8840 Ingram Ln Avon, IN	3.0	2.5	1899	$2,150	$1.13	20d	1	1.50mi

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: watergas

Listing history 9 events

1. 2026-05-21
   listed $270,000 Active
2. 2022-06-10
   soldstatus $236,000 Closed 482-char remark

   Show marketing remark (482 chars)

   3 BEDROOM PAINTED BRICK VENEER RANCH, 2 FULL BATHS, CUSTOM CLOSET DESIGNS, HOME BACKS UP TO LAKEWOOD TERRACE WITH APPROX 300 FT FRONTAGE ON WATER, OVERSIZED 2 CAR ATTACHED GAR WITH STORAGE SHED ATTACHED, UTILITY ROOM OFF GAR FOR ACCESS TO WATER HEATER, SOFTENER AND FURNACE IN ATTIC CRAWL, STACKED WASHER/DRYER IN CLOSET IN HOUSE. KITCHEN/GREAT ROOM COMBO WITH FULL WALL FIREPLACE, SEPARATE LIVING ROOM WITH HARDWOOD FLOORS, GAS LINES HAS BEEN ROUGHED IN FOR RANGE AND WATER HEATER,

3. 2022-05-15
   status Pending 482-char remark

   Show marketing remark (482 chars)

   3 BEDROOM PAINTED BRICK VENEER RANCH, 2 FULL BATHS, CUSTOM CLOSET DESIGNS, HOME BACKS UP TO LAKEWOOD TERRACE WITH APPROX 300 FT FRONTAGE ON WATER, OVERSIZED 2 CAR ATTACHED GAR WITH STORAGE SHED ATTACHED, UTILITY ROOM OFF GAR FOR ACCESS TO WATER HEATER, SOFTENER AND FURNACE IN ATTIC CRAWL, STACKED WASHER/DRYER IN CLOSET IN HOUSE. KITCHEN/GREAT ROOM COMBO WITH FULL WALL FIREPLACE, SEPARATE LIVING ROOM WITH HARDWOOD FLOORS, GAS LINES HAS BEEN ROUGHED IN FOR RANGE AND WATER HEATER,

4. 2022-05-13
   price $232,000 482-char remark

   Show marketing remark (482 chars)

   3 BEDROOM PAINTED BRICK VENEER RANCH, 2 FULL BATHS, CUSTOM CLOSET DESIGNS, HOME BACKS UP TO LAKEWOOD TERRACE WITH APPROX 300 FT FRONTAGE ON WATER, OVERSIZED 2 CAR ATTACHED GAR WITH STORAGE SHED ATTACHED, UTILITY ROOM OFF GAR FOR ACCESS TO WATER HEATER, SOFTENER AND FURNACE IN ATTIC CRAWL, STACKED WASHER/DRYER IN CLOSET IN HOUSE. KITCHEN/GREAT ROOM COMBO WITH FULL WALL FIREPLACE, SEPARATE LIVING ROOM WITH HARDWOOD FLOORS, GAS LINES HAS BEEN ROUGHED IN FOR RANGE AND WATER HEATER,

5. 2022-05-08
   listed $249,900 Active 482-char remark

   Show marketing remark (482 chars)

   3 BEDROOM PAINTED BRICK VENEER RANCH, 2 FULL BATHS, CUSTOM CLOSET DESIGNS, HOME BACKS UP TO LAKEWOOD TERRACE WITH APPROX 300 FT FRONTAGE ON WATER, OVERSIZED 2 CAR ATTACHED GAR WITH STORAGE SHED ATTACHED, UTILITY ROOM OFF GAR FOR ACCESS TO WATER HEATER, SOFTENER AND FURNACE IN ATTIC CRAWL, STACKED WASHER/DRYER IN CLOSET IN HOUSE. KITCHEN/GREAT ROOM COMBO WITH FULL WALL FIREPLACE, SEPARATE LIVING ROOM WITH HARDWOOD FLOORS, GAS LINES HAS BEEN ROUGHED IN FOR RANGE AND WATER HEATER,

6. 2010-12-08
   historical
7. 2010-08-20
   listed $114,900
8. 2009-09-14
   historical
9. 2009-06-15
   listed $135,000

ⓘ 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: $2,467 · $206/mo
• Projected year-2 tax: $2,467 · $206/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 · 18 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: $26,973
• − Mortgage interest: −$15,124
• − Property taxes: −$2,467
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,158
• − Management: −$2,158
• − HOA: −$600
• − Depreciation: −$7,855
• Taxable loss: −$4,739
• Est. tax savings @ 24.0%: +$1,137
• After-tax cash flow: $1,038/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: Brownsburg Community School Corporation
• NCES district ID: 1801020
• Math proficiency: 72% ▼ -5.00%
• Reading proficiency: 72% ▼ -4.00%
• Median HH income: $75,304
• Composite: 63.45/100
• National rank: #616
• State rank: #2 of 301 in IN

Livability — Brownsburg

• Score: 75/100
• State rank: #61
• US rank: #4105

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hendricks County · 143,373 people
• City population: 44,220
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 44,220
• Household income: $112,565
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 614.0

Population outlook (Hendricks County) Hauer SSP2

• Today (2025): 187,418 people
• By 2030: 201,494 · +7.5%
• By 2040: 228,487 · +21.9%
• By 2050: 253,068 · +35.0%
• By 2075: 308,920 · +64.8%
• By 2100: 336,510 · +79.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 10% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Slovak 3% Iranian 2% Romanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Hendricks

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.7%
• 2008→2024 swing: +1.9pp toward D · 2008: -23.4pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+23.9 2016: R+34.2 2012: R+34.9 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.99%
• Current HPI: 217.3787
• Rent YoY: ▲ 6.31%
• 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

+100.0% since first listed

10 events — show timeline

• 2026-05-23 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-21 Listed $270,000 MIBOR as Distributed by MLS Grid
• 2022-06-10 Sold (MLS) $236,000 MIBOR as Distributed by MLS Grid
• 2022-05-15 Pending — MIBOR as Distributed by MLS Grid
• 2022-05-13 Price Changed $232,000 MIBOR as Distributed by MLS Grid
• 2022-05-08 Listed $249,900 MIBOR as Distributed by MLS Grid
• 2010-12-08 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-08-20 Listed $114,900 MIBOR as Distributed by MLS Grid
• 2009-09-14 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-06-15 Listed $135,000 MIBOR as Distributed by MLS Grid

Property tax history

+3.5%/yr

Latest (2025): $2,467 · +6.9% YoY. Source: county tax records.