6334 Jakes Pl · Indianapolis city (balance), IN 46237

$349,900

5 bd · 3.5 ba · 2,688 sqft · SingleFamily public records · 25 Days on market

Built 2001 0.27 ac lot Est $358k · at est. $17/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 +13.3/30.0
• ARV discount +8.5/15.0
• DSCR +4.0/10.0
• Schools +4.0/10.0
• Rent growth +3.4/5.0
• 1% rule +3.2/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable 4 BR/2.5 Bath 2-Story in Franklin Township is NOW AVAILABLE! Home Sits on a Corner Lot w/ Nice Landscaping around Front. Bamboo Flooring on Main & Newer A/C Unit (2018). Spacious Master Bedroom with a Cathedral Ceiling, Ceiling Fan, & Nice Walk-In Closet. Beautifully Renovated Master Bath with Custom Ceramic Tile Shower & Nice Vanity with Double Sinks. Adorable Kitchen Features Breakfast/Dining Area, Walk-In Pantry, Granite Countertops, Stainless Steel Appliances, White Cabinets, & Tile Backsplash. Living Room with Corner Gas Log Fireplace. Separate Family Room off Entry & Upstairs Laundry Room. Large Backyard with Privacy Fence, Nice Wood Deck, & Mini Barn. Franklin Township School System! Don't Miss Your Chance to Fall in Love!

Key facts

• In-law suite
• Kitchenette
• Private bedroom

Tags

• IN-LAW SUITE
• PRIVATE BEDROOM
• KITCHENETTE
• LAUNDRY BATHROOM
• OPEN CONCEPT LIVING ROOM
• FIREPLACE

Property features AI

Finance

• Other: Ownership interest: Mandatory fee
• HOA & community: Homeowners association with annual fee (approximately $200) covering maintenance; HOA governed by covenants and restrictions

Exterior

• Parking: Attached garage, 2 spaces (approx. 400 sq ft)
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; Two levels
• Construction: Vinyl with brick exterior; Slab foundation
• Exterior features: Deck; Mini barn; Corner lot with sidewalks; Approximately 0.27 acre lot

Interior

• Kitchen: Dishwasher; Microwave (over-the-range/microhood); Gas oven; Refrigerator; Kitchen island; Pantry
• Bedrooms: Five bedrooms total — four upstairs, one on the main level; Primary bedroom with walk-in closet
• Bathrooms: Three full bathrooms; One half bathroom; Primary bathroom with double sinks and a full shower stall
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Kitchen island; In-law arrangement; Pantry; Walk-in closets; Gas-started fireplace in living room
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $2 ($24/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 $288k (17.8% below list).
• Recommended offer: $288k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Zoned schools: Bunker Hill Elementary School (math 67% / reading 52%, grade B-, #128 of 994 statewide, top 15%, 501 students, 42% 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 44% FRL vs 29% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 57% at this address vs 44% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Franklin Township Community School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.8%/yr); 270 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 44% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 25 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y 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.
• Current owner paid $199k; list at $350k implies a 76% gain — meaningful room to come down on a strong offer.

Recommended offer $287,502 (17.8% 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: 0.82% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.02%
• DSCR: 1.00
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $357,504
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6625 Wolverine Way	0.57mi	4/2.5 (-1)	2,581 (-4%)	1mo	$342,000	$133	57
7150 Pheasant Ridge Dr	0.66mi	5/2.5	2,720 (+1%)	11mo	$331,000	$122	54
7138 Eagle Trace Way	0.68mi	4/2.5 (-1)	2,660 (-1%)	4mo	$275,000	$103	54
8136 Amble Way	0.33mi	4/2.5 (-1)	2,400 (-11%)	5mo	$295,000	$123	54
6719 Heritage Hill Dr	0.66mi	4/2.5 (-1)	2,736 (+2%)	8mo	$360,000	$132	51
6552 Locust Grove Dr	0.51mi	4/2.5 (-1)	2,443 (-9%)	5mo	$300,000	$123	48
6527 Southern Ridge Dr	0.39mi	4/2.5 (-1)	2,326 (-14%)	4mo	$330,000	$142	47
8434 Smithfield Ln	0.70mi	4/2.5 (-1)	2,563 (-5%)	7mo	$312,000	$122	45
8030 5 Points Rd	0.67mi	4/3.5 (-1)	2,448 (-9%)	10mo	$470,000	$192	40
6830 Shoals Way	0.69mi	4/2.5 (-1)	2,492 (-7%)	8mo	$350,000	$140	40
8048 Garden Ridge Rd	0.46mi	4/2.5 (-1)	2,323 (-14%)	13mo	$359,900	$155	36
6311 Feather Run Dr	0.52mi	4/2.5 (-1)	2,314 (-14%)	14mo	$322,000	$139	32

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-54,344
• Equity at exit: $52,171

10-year hold

• IRR: -5.8%
• Equity multiple: 0.61×
• Total profit: $-37,871
• Equity at exit: $30,253

Cash invested: $97,972 (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 46237

• Rents YoY: 3.8%
• Active inventory: 270
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,875 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$272 /mo · $3,258/yr
• Insurance: −$146
• HOA: −$17
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $2

Break-even live

Break-even rent $2,872

Max offer price $349,900

Occupancy floor 95%

Sensitivity live

Price	-10% $200	-5% $101	+0% $2	+5% $-97	+10% $-196
Rent	-10% $-225	-5% $-112	+0% $2	+5% $116	+10% $229
Rate	-1.0pp $178	-0.5pp $91	base $2	+0.5pp $-89	+1.0pp $-181

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7703 Janel Ct Indianapolis, IN	4.0	2.5	1824	$4,950	$2.71	25d	1	0.34mi

HOA detail

• Monthly dues: $17 · $204/yr
• Likely covers: gaslandscaping

Listing history 19 events

1. 2026-06-01
   status $349,900 Pending 25 DOM
2. 2026-05-31
   days on market $349,900 Active 25 DOM
3. 2026-05-06
   listed $359,900 Active
4. 2025-09-01
   status Active
5. 2024-12-04
   price $365,000
6. 2024-11-19
   price $369,900
7. 2024-11-18
   price $375,000
8. 2024-11-18
   price $369,900
9. 2024-11-12
   listed $375,000 Active
10. 2020-01-10
    soldstatus $199,000 Sold 772-char remark

    Show marketing remark (772 chars)

    Adorable 4 BR/2.5 Bath 2-Story in Franklin Township is NOW AVAILABLE! Home Sits on a Corner Lot w/ Nice Landscaping around Front. Bamboo Flooring on Main & Newer A/C Unit (2018). Spacious Master Bedroom with a Cathedral Ceiling, Ceiling Fan, & Nice Walk-In Closet. Beautifully Renovated Master Bath with Custom Ceramic Tile Shower & Nice Vanity with Double Sinks. Adorable Kitchen Features Breakfast/Dining Area, Walk-In Pantry, Granite Countertops, Stainless Steel Appliances, White Cabinets, & Tile Backsplash. Living Room with Corner Gas Log Fireplace. Separate Family Room off Entry & Upstairs Laundry Room. Large Backyard with Privacy Fence, Nice Wood Deck, & Mini Barn. Franklin Township School System! Don't Miss Your Chance to Fall in Love!

11. 2019-12-08
    status Pending 772-char remark

    Show marketing remark (772 chars)

    Adorable 4 BR/2.5 Bath 2-Story in Franklin Township is NOW AVAILABLE! Home Sits on a Corner Lot w/ Nice Landscaping around Front. Bamboo Flooring on Main & Newer A/C Unit (2018). Spacious Master Bedroom with a Cathedral Ceiling, Ceiling Fan, & Nice Walk-In Closet. Beautifully Renovated Master Bath with Custom Ceramic Tile Shower & Nice Vanity with Double Sinks. Adorable Kitchen Features Breakfast/Dining Area, Walk-In Pantry, Granite Countertops, Stainless Steel Appliances, White Cabinets, & Tile Backsplash. Living Room with Corner Gas Log Fireplace. Separate Family Room off Entry & Upstairs Laundry Room. Large Backyard with Privacy Fence, Nice Wood Deck, & Mini Barn. Franklin Township School System! Don't Miss Your Chance to Fall in Love!

12. 2019-12-06
    listed $195,000 Active 772-char remark

    Show marketing remark (772 chars)

    Adorable 4 BR/2.5 Bath 2-Story in Franklin Township is NOW AVAILABLE! Home Sits on a Corner Lot w/ Nice Landscaping around Front. Bamboo Flooring on Main & Newer A/C Unit (2018). Spacious Master Bedroom with a Cathedral Ceiling, Ceiling Fan, & Nice Walk-In Closet. Beautifully Renovated Master Bath with Custom Ceramic Tile Shower & Nice Vanity with Double Sinks. Adorable Kitchen Features Breakfast/Dining Area, Walk-In Pantry, Granite Countertops, Stainless Steel Appliances, White Cabinets, & Tile Backsplash. Living Room with Corner Gas Log Fireplace. Separate Family Room off Entry & Upstairs Laundry Room. Large Backyard with Privacy Fence, Nice Wood Deck, & Mini Barn. Franklin Township School System! Don't Miss Your Chance to Fall in Love!

13. 2015-06-15
    soldstatus $157,000 Sold
14. 2015-04-17
    status Pending
15. 2015-04-14
    historical Contingent - Backup Pending Other
16. 2015-04-08
    listed $160,000 Active
17. 2011-06-16
    historical
18. 2011-06-10
    soldstatus $130,000
19. 2011-04-06
    listed $134,900

ⓘ 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: $3,258 · $272/mo
• Projected year-2 tax: $3,258 · $272/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 ≥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: $34,500
• − Mortgage interest: −$19,600
• − Property taxes: −$3,258
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,760
• − Management: −$2,760
• − HOA: −$204
• − Depreciation: −$10,179
• Taxable loss: −$6,010
• Est. tax savings @ 24.0%: +$1,443
• After-tax cash flow: $1,467/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): 43,473
• Household income: $79,078
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1245.0

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 (71%)
• Race & ethnicity: White 71% Asian 13% Hispanic / Latino 7% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 12% · Canada, Philippines
• Languages at home: 84% English-only · Other Asian/Pacific 5% Spanish 5% Other Indo-European 4%

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: ▼ -180.33%
• Current HPI: 238.9661
• Rent YoY: ▲ 3.78%
• 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

+166.8% since first listed

17 events — show timeline

• 2026-05-06 Listed $359,900 MIBOR as Distributed by MLS Grid
• 2025-09-01 Relisted — MIBOR as Distributed by MLS Grid
• 2024-12-04 Price Changed $365,000 MIBOR as Distributed by MLS Grid
• 2024-11-19 Price Changed $369,900 MIBOR as Distributed by MLS Grid
• 2024-11-18 Price Changed $375,000 MIBOR as Distributed by MLS Grid
• 2024-11-18 Price Changed $369,900 MIBOR as Distributed by MLS Grid
• 2024-11-12 Listed $375,000 MIBOR as Distributed by MLS Grid
• 2020-01-10 Sold (MLS) $199,000 MIBOR as Distributed by MLS Grid
• 2019-12-08 Pending — MIBOR as Distributed by MLS Grid
• 2019-12-06 Listed $195,000 MIBOR as Distributed by MLS Grid
• 2015-06-15 Sold (MLS) $157,000 MIBOR as Distributed by MLS Grid
• 2015-04-17 Pending — MIBOR as Distributed by MLS Grid
• 2015-04-14 Contingent — MIBOR as Distributed by MLS Grid
• 2015-04-08 Listed $160,000 MIBOR as Distributed by MLS Grid
• 2011-06-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-06-10 Sold (MLS) $130,000 MIBOR as Distributed by MLS Grid
• 2011-04-06 Listed $134,900 MIBOR as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2025): $3,258 · +2.9% YoY. Source: county tax records.