1801 Sonesta Way · Indianapolis city (balance), IN 46217

$295,000

3 bd · 1.5 ba · 2,857 sqft · SingleFamily public records · 18 Days on market

Built 2000 5,009 sqft lot Est $314k · 6% under $21/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 +16.7/30.0
• ARV discount +10.3/15.0
• DSCR +5.2/10.0
• 1% rule +4.4/10.0
• 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 MLS

Welcome to your dream home! This charming property boasts an enchanting fireplace, creating a cozy and inviting ambiance. The natural color palette throughout creates a warm and welcoming atmosphere. The kitchen features a spacious walk-in pantry, providing ample storage for all your culinary needs. The master bedroom offers a luxurious walk-in closet, ensuring your clothes and accessories are neatly organized. Additional rooms provide flexible living space to suit your lifestyle. The primary bathroom is a sanctuary with a separate tub and shower, perfect for unwinding after a long day. Enjoy the convenience of good under sink storage in the primary bathroom. Step outside to the fenced backyard, offering both privacy and security. The sitting area in the backyard is the ideal spot for relaxation and outdoor entertaining. Other notable features include fresh interior paint, new flooring throughout the home, and new appliances. Don't miss the opportunity to make this treasure your own.

Key facts

• Over-sized pantry
• Expansive loft
• Open concept layout

Tags

• OPEN CONCEPT LAYOUT
• OVER-SIZED PANTRY
• EXPANSIVE LOFT
• PRIVACY-FENCED BACKYARD

Property features AI

Finance

• Other: Lot size approximately 0.12 acres (< 1/4 acre)
• HOA & community: Homeowners association with semi-annual fee of $125; HOA covers entrance/common areas, insurance, park and playground; HOA governed by covenants and restrictions

Exterior

• Parking: Attached 2-car garage with garage door opener; Guest street parking
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Municipal sewer connected; Electricity connected; Natural gas connected
• Home design: Single-family residence; Two levels; Faces north; Ownership subject to mandatory association fee
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Patio; Full privacy fence; Sidewalks, street lights, and mature trees in the neighborhood

Interior

• Kitchen: Dishwasher; Disposal; Over-the-range microwave (MicroHood); Electric oven; Refrigerator; Water softener (owned); Gas water heater
• Bedrooms: Primary bedroom with walk-in closet; Three bedrooms on the upper level; Total of 3 upper-level bedrooms
• Bathrooms: Two full bathrooms; One half bathroom; Primary bathroom with garden tub and separate shower
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Pantry; Walk-in closet(s); Gas log fireplace in the great room; One fireplace total
• Laundry & utility: Laundry room on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $30 ($358/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 $278k (5.8% below list).
• Recommended offer: $278k (5.8% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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.
• 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.
• Zoned schools: Abraham Lincoln Elementary School (math 36% / reading 35%, grade F, #584 of 994 statewide, top 59%, 897 students, 79% FRL); Perry Meridian Middle School (math 33% / reading 51%, grade D-, #102 of 330 statewide, top 32%, 1,292 students, 66% FRL); Perry Meridian High School (math 34% / reading 64%, grade D, #136 of 369 statewide, top 37%, 2,350 students, 58% FRL).
• Market conditions: Rents rising (+3.5%/yr); 213 active listings in the ZIP; 2 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 36% of the median local income ($92k/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 $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

• It's been on market 18 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $277,908 (5.8% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.94% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.64%
• DSCR: 1.12
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $314,270
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1735 Sonesta Ln	0.16mi	4/2.5 (+1)	2,860 (+0%)	13mo	$315,000	$110	72
1748 Brassica Ln	0.03mi	4/2.5 (+1)	2,512 (-12%)	1mo	$255,000	$102	68
6518 Sonesta Dr	0.08mi	3/2.5	3,094 (+8%)	13mo	$310,000	$100	68
6545 Newstead Dr	0.13mi	3/2.5	2,493 (-13%)	2mo	$280,000	$112	67
1841 Sonesta Ln	0.17mi	3/2.5	3,118 (+9%)	14mo	$350,000	$112	61
1232 W Banta Rd	0.56mi	3/2.0	2,542 (-11%)	7mo	$265,000	$104	48
6249 Monteo Ln	0.53mi	3/2.5	2,434 (-15%)	1mo	$268,000	$110	46
2520 Senators Way	0.70mi	4/2.5 (+1)	2,588 (-9%)	0mo	$305,000	$118	42
7221 Rooses Dr	0.69mi	3/2.5	2,749 (-4%)	22mo	$448,000	$163	39
6428 Bluff Crest Ct	0.53mi	3/2.5	2,496 (-13%)	15mo	$255,000	$102	38
1818 Blankenship Dr	0.60mi	3/2.5	2,514 (-12%)	22mo	$270,000	$107	30
6331 Monteo Ln	0.50mi	3/2.5	2,430 (-15%)	22mo	$263,000	$108	29

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 · 3.46% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.46×
• Total profit: $-44,488
• Equity at exit: $43,985

10-year hold

• IRR: -5.5%
• Equity multiple: 0.63×
• Total profit: $-30,450
• Equity at exit: $25,506

Cash invested: $82,600 (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 46217

• Rents YoY: 3.5%
• Active inventory: 213
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,779 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$323 /mo · $3,872/yr
• Insurance: −$123
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$21
• Vacancy / Maint / Mgmt: −$584
• Net cashflow: $30

Break-even live

Break-even rent $2,741

Max offer price $295,000

Occupancy floor 94%

Sensitivity live

Price	-10% $197	-5% $113	+0% $30	+5% $-54	+10% $-137
Rent	-10% $-190	-5% $-80	+0% $30	+5% $140	+10% $249
Rate	-1.0pp $178	-0.5pp $105	base $30	+0.5pp $-47	+1.0pp $-124

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6666 Black Antler Dr Indianapolis, IN	3.0	2.5	1998	$1,900	$0.95	16d	1	0.58mi
7907 Shannon Lakes Way Indianapolis, IN	4.0	3.0	3100	$6,500	$2.10	23d	1	1.41mi

HOA detail

• Monthly dues: $21 · $252/yr
• Likely covers: security

Listing history 10 events

1. 2026-06-21
   days on market $295,000 Active 18 DOM
2. 2026-06-18
   days on market $295,000 Active 15 DOM
3. 2026-06-17
   pricedays on market $295,000 Active 14 DOM
4. 2026-06-16
   days on market $299,000 Active 13 DOM
5. 2026-06-15
   days on market $299,000 Active 12 DOM
6. 2026-06-13
   days on market $299,000 Active 10 DOM
7. 2026-06-09
   days on market $299,000 Active 6 DOM
8. 2026-06-08
   days on market $299,000 Active 5 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $299,000 Active 4 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: $3,872 · $323/mo
• Projected year-2 tax: $3,872 · $323/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 AH · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°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: $33,349
• − Mortgage interest: −$16,525
• − Property taxes: −$3,872
• − Insurance: −$3,300
• − Repairs & maintenance: −$2,668
• − Management: −$2,668
• − HOA: −$252
• − Depreciation: −$8,582
• Taxable loss: −$4,516
• Est. tax savings @ 24.0%: +$1,084
• After-tax cash flow: $1,442/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

+110.6% since first listed

12 events — show timeline

• 2026-06-04 Listed $299,000 MIBOR as Distributed by MLS Grid
• 2024-03-29 Sold (Public Records) $296,000 Public Records
• 2024-03-25 Sold (MLS) $296,000 MIBOR as Distributed by MLS Grid
• 2024-02-22 Pending — MIBOR as Distributed by MLS Grid
• 2024-02-22 Price Changed $290,000 MIBOR as Distributed by MLS Grid
• 2024-02-01 Listed $296,000 MIBOR as Distributed by MLS Grid
• 2006-01-06 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-01-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-01-08 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2004-03-08 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2003-01-08 Sold (MLS) $153,464 MIBOR as Distributed by MLS Grid
• 2002-11-19 Listed $142,000 MIBOR as Distributed by MLS Grid

Property tax history

+7.4%/yr

Latest (2025): $3,872 · +1.0% YoY. Source: county tax records.