10625 Gathering Dr · Indianapolis city (balance), IN 46259

$300,000

4 bd · 2.5 ba · 2,572 sqft · SingleFamily public records · 13 Days on market

Built 2007 0.31 ac lot Est $283k · 6% over $38/mo HOA · 1% of rent

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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).

• Cash flow +13.8/30.0
• ARV discount +4.8/15.0
• DSCR +4.2/10.0
• Schools +4.0/10.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 4 bedroom, 2.5 bath home offers an open-concept layout, perfect for comfortable living and entertaining. The upstairs loft provides extra flexibility-ideal for a home office, playroom or extra lounge space. Step outside and enjoy one of the largest yards in the neighborhood-perfect for volleyball, football, outdoor gatherings or simply relaxing. The property boasts great curb appeal and space to shoot hoops out front. Located in a quiet community just about 10 minutes from downtown Indianapolis and convenient shopping, this home offers the perfect balance of peace and accessibility.

Key facts

• Expansive backyard
• 0.31 acre lot
• 2 garage spots

Tags

• OPEN-CONCEPT FLOOR PLAN
• VERSATILE UPSTAIRS LOFT
• EXPANSIVE BACKYARD
• CONVENIENT ACCESS TO SHOPPING

Property features AI

Finance

• Other: Lot size approximately 0.31 acre; Ownership interest: Mandatory fee
• HOA & community: HOA with quarterly fee of $115; HOA maintains walking trails

Exterior

• Parking: Attached 2-car garage (approximately 380 sq ft)
• Utilities: Public water; Municipal sewer connected
• Home design: Single family residence (attached property); Two levels
• Construction: Vinyl with brick exterior; Slab foundation
• Exterior features: Covered patio

Interior

• Kitchen: Dishwasher; Microwave; Gas oven; Refrigerator; Eat-in kitchen with pantry
• Bedrooms: Primary bedroom with walk-in closet; Four bedrooms on upper level
• Bathrooms: Two full baths (upper level); One half bath (main level)
• Heating & cooling: High-efficiency furnace (90%+ AFUE); Central air conditioning
• Interior features: Attic access; Eat-in kitchen; Pantry; Walk-in closet(s); Central air; High-efficiency heating (90%+ AFUE)
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $25 ($300/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 $254k (15.3% below list).
• Recommended offer: $254k (15.3% 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.
• Market conditions: 159 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 $9k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 6y 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 $254,101 (15.3% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.85% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $282,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10625 Gathering Dr	0.00mi	4/2.5	2,572 (0%)	12mo	$295,900	$115	90
8158 Retreat Ln	0.06mi	3/2.5 (-1)	2,687 (+4%)	6mo	$295,000	$110	79
10708 Inspiration Dr	0.14mi	4/2.5	2,615 (+2%)	14mo	$285,000	$109	79
10905 Inspiration Dr	0.32mi	4/2.5	2,637 (+2%)	3mo	$290,000	$110	78
8147 Retreat Ln	0.03mi	4/2.5	2,354 (-8%)	10mo	$285,000	$121	76
8238 Crackling Ln	0.16mi	3/2.5 (-1)	2,430 (-6%)	12mo	$275,000	$113	68
7950 Crackling Ln	0.22mi	3/2.5 (-1)	2,707 (+5%)	10mo	$300,500	$111	68
8243 Retreat Ln	0.12mi	3/2.5 (-1)	2,842 (+10%)	6mo	$275,000	$97	67
10841 Maze Rd	0.46mi	4/2.0	2,405 (-6%)	3mo	$355,000	$148	64
8220 Firefly Way	0.31mi	4/2.5	2,669 (+4%)	22mo	$285,000	$107	61
10808 Inspiration Dr	0.21mi	4/2.5	2,842 (+10%)	16mo	$282,000	$99	59
10946 Maze Rd	0.46mi	4/3.0	2,219 (-14%)	10mo	$225,000	$101	45

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: -15.7%
• Equity multiple: 0.44×
• Total profit: $-47,040
• Equity at exit: $44,731

10-year hold

• IRR: -7.3%
• Equity multiple: 0.54×
• Total profit: $-38,985
• Equity at exit: $25,939

Cash invested: $84,000 (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 46259

• Home prices YoY: -26.8%
• Active inventory: 159
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,541 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$246 /mo · $2,954/yr
• Insurance: −$125
• HOA: −$38
• Vacancy / Maint / Mgmt: −$534
• Net cashflow: $25

Break-even live

Break-even rent $2,509

Max offer price $300,000

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8234 Gathering Cir Indianapolis, IN	3.0	2.5	2110	$2,200	$1.04	2d	1	0.26mi

HOA detail

• Monthly dues: $38 · $456/yr

Listing history 9 events

1. 2026-06-18
   days on market $300,000 Active 13 DOM
2. 2026-06-17
   days on market $300,000 Active 12 DOM
3. 2026-06-16
   days on market $300,000 Active 11 DOM
4. 2026-06-15
   days on market $300,000 Active 10 DOM
5. 2026-06-13
   days on market $300,000 Active 8 DOM
6. 2026-06-09
   days on market $300,000 Active 4 DOM
7. 2026-06-08
   days on market $300,000 Active 3 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $300,000 Active 2 DOM

ⓘ 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: $2,954 · $246/mo
• Projected year-2 tax: $2,954 · $246/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 4/10 Moderate 7 d/yr ≥101°F today · 20 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: $30,492
• − Mortgage interest: −$16,805
• − Property taxes: −$2,954
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,439
• − Management: −$2,439
• − HOA: −$456
• − Depreciation: −$8,727
• Taxable loss: −$4,829
• Est. tax savings @ 24.0%: +$1,159
• After-tax cash flow: $1,459/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

+62.2% since first listed

10 events — show timeline

• 2026-06-05 Listed $300,000 MIBOR as Distributed by MLS Grid
• 2025-06-12 Sold (MLS) $295,900 MIBOR as Distributed by MLS Grid
• 2025-05-14 Pending — MIBOR as Distributed by MLS Grid
• 2025-04-30 Listed $298,900 MIBOR as Distributed by MLS Grid
• 2023-06-28 Price Changed $295,500 MIBOR as Distributed by MLS Grid
• 2023-06-09 Price Changed $300,000 MIBOR as Distributed by MLS Grid
• 2023-05-20 Listed $311,200 MIBOR as Distributed by MLS Grid
• 2020-05-08 Sold (MLS) $193,500 MIBOR as Distributed by MLS Grid
• 2020-04-01 Pending — MIBOR as Distributed by MLS Grid
• 2020-03-29 Listed $185,000 MIBOR as Distributed by MLS Grid

Property tax history

+6.7%/yr

Latest (2025): $2,954 · -4.5% YoY. Source: county tax records.