Bellamy Plan · Indianapolis city (balance), IN 46239

$332,900

4 bd · 2.5 ba · 2,053 sqft · SingleFamily · 58 Days on market

Good condition

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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 +5.7/30.0
• Schools +4.8/10.0
• Rent growth +4.0/5.0
• Condition / age +4.0/5.0
• Livability +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Introducing the Bellamy by D. R. Horton, America's Builder-a masterpiece of modern architecture designed to balance sophisticated style with the practical needs of a busy household. This impressive two-story residence offers a spacious and inviting atmosphere from the moment you arrive. The main level is defined by its open-concept design, creating a fluid transition between the kitchen, dining, and living areas. Durable and stylish solid surface flooring flows throughout the entire first floor for easy maintenance. A unique feature of the Bellamy is the turnback staircase, intentionally tucked away from the foyer to provide enhanced privacy.

Key facts

• Open concept design
• Turnback staircase
• Massive pantry

Tags

• OPEN CONCEPT DESIGN
• TURNBACK STAIRCASE
• VERSATILE STUDY
• MASSIVE PANTRY
• LARGE BUILT-IN ISLAND
• OVERSIZED PRIMARY SUITE

🏗️ New construction. The $332,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $360,374.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $333k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-744 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (24.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (33.6% below list).
• Recommended offer: $221k (33.6% 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: South Creek Elementary (math 62% / reading 47%, grade C, #197 of 994 statewide, top 22%, 627 students, 46% FRL); Franklin Central Junior High (math 31% / reading 40%, grade F, #162 of 330 statewide, top 49%, 1,711 students, 51% 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 48% FRL vs 29% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 502 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 86d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 81% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 58 days — a 3% lower offer ($323k) is reasonable based on typical stale-listing flexibility.

Recommended offer $221,067 (33.6% 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 58 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
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: 0.61% ✗
• Cap rate: 3.82%
• Cash-on-cash: -8.85%
• DSCR: 0.61
• GRM: 13.6

CMA / ARV

• ARV (median comp): $360,374
• List price: $332,900
• Delta: -7.62%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8420 Grand Appaloosa Way	0.16mi	4/3.0	2,170 (+6%)	2mo	$349,000	$161	80
5250 Hearst Ln	0.25mi	3/2.0 (-1)	2,062 (+0%)	1mo	$298,000	$145	80
8276 Grand Appaloosa Way	0.26mi	4/3.0	2,170 (+6%)	2mo	$350,000	$161	75
5225 Hearst Ln	0.30mi	4/2.5	2,244 (+9%)	0mo	$349,900	$156	71
8233 E Thompson Rd	0.42mi	4/2.0	1,939 (-6%)	2mo	$293,000	$151	68
8810 Rowling Way	0.36mi	3/2.5 (-1)	2,295 (+12%)	1mo	$335,000	$146	58
8969 Faulkner Dr	0.57mi	4/2.5	2,289 (+12%)	1mo	$275,000	$120	53
8017 Raindance Trl	0.69mi	3/2.5 (-1)	2,154 (+5%)	2mo	$370,000	$172	53
5327 Twin Bridge Blvd	0.74mi	4/2.0	1,912 (-7%)	2mo	$299,900	$157	51
8967 Blue Hill St	0.62mi	4/2.0	1,771 (-14%)	0mo	$340,000	$192	46
5726 Flat Hill Dr	0.69mi	4/2.0	1,771 (-14%)	1mo	$343,000	$194	42
9114 Faulkner Dr	0.72mi	4/2.5	2,346 (+14%)	2mo	$349,900	$149	41

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 · 6.11% rent growth · sell at horizon

5-year hold

• IRR: -28.6%
• Equity multiple: 0.02×
• Total profit: $-98,617
• Equity at exit: $53,733

10-year hold

• IRR: -18.9%
• Equity multiple: -0.15×
• Total profit: $-115,556
• Equity at exit: $31,159

Cash invested: $100,905 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 49 active · 41 under contract
• Months of supply: 5.3 mo (19%/mo absorbed)
• Median asking: $345,000 ($165/sqft)
• Median days on market: 89 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +6.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46239

• Home prices YoY: -29.2%
• Rents YoY: 6.1%
• Active inventory: 502
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $2,211 high
• Mortgage (P&I): −$1,890
• Tax est. 1.5%: −$450 /mo · $5,406/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $-744

Break-even live

Break-even rent $3,152

Max offer price $252,712

Occupancy floor —

Sensitivity live

Price	-10% $-495	-5% $-620	+0% $-744	+5% $-869	+10% $-993
Rent	-10% $-919	-5% $-831	+0% $-744	+5% $-657	+10% $-569
Rate	-1.0pp $-563	-0.5pp $-652	base $-744	+0.5pp $-837	+1.0pp $-932

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: $90,093
• Closing costs: $10,811
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5639 Wood Hollow Dr Indianapolis, IN	3.0	2.0	1422	$1,795	$1.26	81d	1	0.35mi
5639 Wood Hollow Dr Indianapolis, IN	3.0	2.0	1422	$1,725	$1.21	40d	1	0.35mi
8842 Faulkner Dr Indianapolis, IN	3.0	2.0	1792	$1,795	$1.00	94d	1	0.39mi
5602 Wild Horse Dr Indianapolis, IN	3.0	2.0	1616	$1,806	$1.12	82d	1	0.40mi
8836 Kipling Dr Indianapolis, IN	4.0	2.5	1686	$2,200	$1.30	119d	1	0.45mi
8119 Rambling Rd Indianapolis, IN	3.0	2.5	1637	$1,826	$1.12	40d	1	0.45mi
5330 Himalayan Dr Indianapolis, IN	3.0	2.5	2120	$2,179	$1.03	100d	1	0.50mi
8644 Hornady Dr Indianapolis, IN	3.0	2.5	2238	$2,371	$1.06	4d	1	0.51mi
8051 Little River Ln Indianapolis, IN	3.0	2.5	2135	$1,801	$0.84	103d	1	0.51mi
5325 Montavia Ln Indianapolis, IN	3.0	2.0	1632	$1,849	$1.13	119d	1	0.65mi
5426 Basin Park Dr Indianapolis, IN	4.0	2.5	2652	$2,399	$0.90	64d	1	0.65mi
9203 Hemingway Dr Indianapolis, IN	3.0	2.0	1498	$2,395	$1.60	86d	1	0.80mi
9203 Hemingway Dr Indianapolis, IN	3.0	2.0	1498	$2,295	$1.53	62d	1	0.80mi
9237 Kavanaugh Dr Indianapolis, IN	3.0	2.0	1503	$2,200	$1.46	113d	1	0.89mi
5236 Choctaw Ridge Way Indianapolis, IN	3.0	2.5	2130	$2,275	$1.07	0d	1	0.95mi
5532 Burning Tree Ct Indianapolis, IN	3.0	2.0	1424	$1,695	$1.19	10d	1	1.03mi
7260 Kidwell Dr Indianapolis, IN	3.0	2.0	1409	$1,899	$1.35	93d	1	1.16mi
4225 Tiana Cir Indianapolis, IN	3.0	2.0	1946	$2,071	$1.06	108d	1	1.22mi
7905 Housefinch Ln Indianapolis, IN	4.0	2.5	2234	$2,299	$1.03	68d	1	1.22mi
8446 Coppel Ln Indianapolis, IN	3.0	2.5	1928	$2,035	$1.06	10d	1	1.24mi
7203 Tresa Dr Indianapolis, IN	3.0	2.5	2173	$1,956	$0.90	40d	1	1.27mi
7141 Bracken Ln Indianapolis, IN	3.0	2.0	1572	$1,850	$1.18	88d	1	1.32mi
4410 Viva Ln Indianapolis, IN	4.0	2.5	2876	$2,450	$0.85	100d	1	1.34mi
4613 Bethel Cove Dr Indianapolis, IN	3.0	3.0	2362	$2,750	$1.16	9d	1	1.34mi
7650 Lara Lee Dr Indianapolis, IN	4.0	2.0	1696	$2,039	$1.20	119d	1	1.37mi
4127 S Post Rd Indianapolis, IN	3.0	2.0	1460	$1,585	$1.09	119d	1	1.37mi

Listing history 16 events

1. 2026-06-26
   days on market $332,900 Active 58 DOM
2. 2026-06-24
   days on market $332,900 Active 56 DOM
3. 2026-06-22
   days on market $332,900 Active 54 DOM
4. 2026-06-21
   days on market $332,900 Active 53 DOM
5. 2026-06-18
   days on market $332,900 Active 50 DOM
6. 2026-06-17
   days on market $332,900 Active 49 DOM
7. 2026-06-16
   days on market $332,900 Active 48 DOM
8. 2026-06-15
   days on market $332,900 Active 47 DOM
9. 2026-06-13
   days on market $332,900 Active 45 DOM
10. 2026-06-09
    days on market $332,900 Active 41 DOM
11. 2026-06-08
    days on market $332,900 Active 40 DOM
12. 2026-06-07
    days on market $332,900 Active 39 DOM
13. 2026-06-03
    days on market $332,900 Active 35 DOM
14. 2026-06-02
    days on market $332,900 Active 34 DOM
15. 2026-06-01
    days on market $332,900 Active 33 DOM
16. 2026-05-31
    days on market $332,900 Active 32 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,528
• − Mortgage interest: −$20,187
• − Property taxes: −$5,406
• − Insurance: −$1,802
• − Repairs & maintenance: −$2,122
• − Management: −$2,122
• − Depreciation: −$10,484
• Taxable loss: −$15,594
• Est. tax savings @ 24.0%: +$3,743
• After-tax cash flow: $-5,186/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This Bellamy by D.R. Horton is a well-maintained, move-in-ready home with good condition and potential for minor updates to enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Resale Updating the kitchen backsplash — A fresh backsplash can add value to the kitchen ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value ↑

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary South Creek Elementary C IN #197/994 Nat'l #9,801/41,679 Middle Franklin Central Junior High F IN #162/330 Nat'l #7,347/14,009 High Franklin Central High School C IN #77/369 Nat'l #4,413/17,239

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 · 1,025,572 people
• City population: 881,119
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 33,931
• Household income: $100,331
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 7% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 57% Black 24% Hispanic / Latino 9% Two or more races 9% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 1%
• Foreign-born: 7% · Canada, Philippines, China
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% Chinese 1%

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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: ▼ -93.15%
• Current HPI: 226.1965
• Rent YoY: ▲ 6.11%
• Metro: Indianapolis-Carmel-Anderson, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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