12374 Wolverton Way · Fishers, IN 46037

$399,000

4 bd · 2.5 ba · 2,318 sqft · SingleFamily public records · 81 Days on market

Built 2013 7,840 sqft lot $172/sqft · 8% below area Est $433k · 8% under $55/mo HOA · 2% 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).

• ARV discount +11.0/15.0
• Cash flow +7.7/30.0
• Schools +5.3/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect home nestled in a desirable neighborhood featuring 3 bedrooms with 2.5 bath ranch with loft along with separate office room and fully fenced backyard. Spacious family room with the 20' soaring ceilings extending into breakfast/dining area overlooking the private fenced backyard with brick paver patio and firepit perfect for peaceful mornings and evening sunsets. Kitchen boasts granite countertops, SS appliances and custom cabinets double oven, breakfast bar and island. Primary bedroom with large walk-in closet, dual sink with soaking tub and separate shower. Two other bedrooms with jack & jill bathrooms. Also has private study/home office. Upstairs with loft area great for entertainment. Neighborhood amenities include playground, pool. walking trails. Recent upgrades include Cooktop Stove (2025), Roof (2023), Whole house flooring (2023) Water softener (2023) Dishwasher (2023). Close Hamilton southeastern shopping dining and highway access along with close proximity to award winning HSE schools.

Key facts

• Firepit
• Custom cabinets
• Brick paver patio

Tags

• FULLY FENCED BACKYARD
• BRICK PAVER PATIO
• FIREPIT
• GRANITE COUNTERTOPS
• SS APPLIANCES
• CUSTOM CABINETS

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $399k.

Deal economics

• At list price, monthly cash flow is $-467 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $316k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (30.8% below list).
• Recommended offer: $276k (30.8% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 3.6% in Fishers — 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 83/100 on livability (#11 in IN, #898 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: commute F.
• Hamilton Southeastern Schools (suburban): math 57% / reading 59% proficiency, ranked #14 of 301 in IN (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+6.7%/yr); 322 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d 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; 4,661 units permitted in Hamilton County in 2024 (1,528 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Hamilton County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($375k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $30k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $270k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $276,166 (30.8% 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. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.69% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.02%
• DSCR: 0.78
• GRM: 12.0

CMA / ARV

• ARV (median comp): $432,616
• List price: $399,000
• Delta: -7.77%
• 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
12232 Wolverton Way	0.15mi	4/2.5	2,308 (-0%)	4mo	$417,000	$181	89
14514 Glapthorn Rd	0.40mi	4/2.5	2,362 (+2%)	7mo	$415,000	$176	72
14453 Glapthorn Rd	0.34mi	4/2.5	2,471 (+7%)	11mo	$435,000	$176	64
14475 Milton Rd	0.40mi	4/2.5	2,560 (+10%)	1mo	$459,000	$179	63
11791 Moate Dr	0.61mi	4/2.5	2,190 (-6%)	6mo	$330,000	$151	57
14058 Southwood Cir	0.43mi	4/2.5	2,596 (+12%)	6mo	$345,900	$133	55
14466 Chapelwood Ln	0.31mi	3/2.5 (-1)	2,101 (-9%)	12mo	$355,000	$169	55
14052 Rayners Ln	0.43mi	4/2.5	2,092 (-10%)	10mo	$399,000	$191	55
12878 Ari Ln	0.60mi	4/3.0	2,566 (+11%)	4mo	$400,000	$156	49
14584 Hinton Dr	0.57mi	4/2.5	2,598 (+12%)	6mo	$439,950	$169	48
11919 Gatwick View Dr	0.46mi	4/2.5	2,616 (+13%)	12mo	$404,000	$154	47
14620 Hinton Dr	0.60mi	4/2.5	2,590 (+12%)	9mo	$425,000	$164	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 · 6.71% rent growth · sell at horizon

5-year hold

• IRR: -21.0%
• Equity multiple: 0.25×
• Total profit: $-83,751
• Equity at exit: $59,492

10-year hold

• IRR: -7.9%
• Equity multiple: 0.43×
• Total profit: $-63,992
• Equity at exit: $34,498

Cash invested: $111,720 (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 46037

• Home prices YoY: -18.6%
• Rents YoY: 6.7%
• Active inventory: 322
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,762 medium
• Mortgage (P&I): −$2,092
• Tax from tax record: −$335 /mo · $4,025/yr
• Insurance: −$166
• HOA: −$55
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $-467

Break-even live

Break-even rent $3,353

Max offer price $316,447

Occupancy floor —

Sensitivity live

Price	-10% $-241	-5% $-354	+0% $-467	+5% $-580	+10% $-693
Rent	-10% $-685	-5% $-576	+0% $-467	+5% $-358	+10% $-249
Rate	-1.0pp $-266	-0.5pp $-366	base $-467	+0.5pp $-571	+1.0pp $-676

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14081 Tenbury Way Fishers, IN	3.0	2.5	1909	$2,200	$1.15	44d	1	1.07mi
13496 Erlen Dr Fishers, IN	3.0	2.5	2300	$3,500	$1.52	44d	1	1.29mi
13519 134th St Fishers, IN	3.0	2.5	2073	$2,650	$1.28	18d	1	1.32mi
13172 S Elster Way Fishers, IN	3.0	2.5	2027	$2,325	$1.15	2d	1	1.39mi

HOA detail

• Monthly dues: $55 · $660/yr
• Likely covers: waterpool

Listing history 10 events

1. 2026-05-13
   price $399,000 1021-char remark

   Show marketing remark (1021 chars)

   Perfect home nestled in a desirable neighborhood featuring 3 bedrooms with 2.5 bath ranch with loft along with separate office room and fully fenced backyard. Spacious family room with the 20' soaring ceilings extending into breakfast/dining area overlooking the private fenced backyard with brick paver patio and firepit perfect for peaceful mornings and evening sunsets. Kitchen boasts granite countertops, SS appliances and custom cabinets double oven, breakfast bar and island. Primary bedroom with large walk-in closet, dual sink with soaking tub and separate shower. Two other bedrooms with jack & jill bathrooms. Also has private study/home office. Upstairs with loft area great for entertainment. Neighborhood amenities include playground, pool. walking trails. Recent upgrades include Cooktop Stove (2025), Roof (2023), Whole house flooring (2023) Water softener (2023) Dishwasher (2023). Close Hamilton southeastern shopping dining and highway access along with close proximity to award winning HSE schools.

2. 2026-04-16
   price $405,000 1021-char remark

   Show marketing remark (1021 chars)

   Perfect home nestled in a desirable neighborhood featuring 3 bedrooms with 2.5 bath ranch with loft along with separate office room and fully fenced backyard. Spacious family room with the 20' soaring ceilings extending into breakfast/dining area overlooking the private fenced backyard with brick paver patio and firepit perfect for peaceful mornings and evening sunsets. Kitchen boasts granite countertops, SS appliances and custom cabinets double oven, breakfast bar and island. Primary bedroom with large walk-in closet, dual sink with soaking tub and separate shower. Two other bedrooms with jack & jill bathrooms. Also has private study/home office. Upstairs with loft area great for entertainment. Neighborhood amenities include playground, pool. walking trails. Recent upgrades include Cooktop Stove (2025), Roof (2023), Whole house flooring (2023) Water softener (2023) Dishwasher (2023). Close Hamilton southeastern shopping dining and highway access along with close proximity to award winning HSE schools.

3. 2026-04-01
   price $419,000 1021-char remark

   Show marketing remark (1021 chars)

   Perfect home nestled in a desirable neighborhood featuring 3 bedrooms with 2.5 bath ranch with loft along with separate office room and fully fenced backyard. Spacious family room with the 20' soaring ceilings extending into breakfast/dining area overlooking the private fenced backyard with brick paver patio and firepit perfect for peaceful mornings and evening sunsets. Kitchen boasts granite countertops, SS appliances and custom cabinets double oven, breakfast bar and island. Primary bedroom with large walk-in closet, dual sink with soaking tub and separate shower. Two other bedrooms with jack & jill bathrooms. Also has private study/home office. Upstairs with loft area great for entertainment. Neighborhood amenities include playground, pool. walking trails. Recent upgrades include Cooktop Stove (2025), Roof (2023), Whole house flooring (2023) Water softener (2023) Dishwasher (2023). Close Hamilton southeastern shopping dining and highway access along with close proximity to award winning HSE schools.

4. 2026-03-06
   listed $429,000 Active 1021-char remark

   Show marketing remark (1021 chars)

   Perfect home nestled in a desirable neighborhood featuring 3 bedrooms with 2.5 bath ranch with loft along with separate office room and fully fenced backyard. Spacious family room with the 20' soaring ceilings extending into breakfast/dining area overlooking the private fenced backyard with brick paver patio and firepit perfect for peaceful mornings and evening sunsets. Kitchen boasts granite countertops, SS appliances and custom cabinets double oven, breakfast bar and island. Primary bedroom with large walk-in closet, dual sink with soaking tub and separate shower. Two other bedrooms with jack & jill bathrooms. Also has private study/home office. Upstairs with loft area great for entertainment. Neighborhood amenities include playground, pool. walking trails. Recent upgrades include Cooktop Stove (2025), Roof (2023), Whole house flooring (2023) Water softener (2023) Dishwasher (2023). Close Hamilton southeastern shopping dining and highway access along with close proximity to award winning HSE schools.

5. 2017-09-25
   soldstatus $270,000 Sold 700-char remark

   Show marketing remark (700 chars)

   Better hurry as this home won't last long! 2,318 sf 3 bedrm 2.5 bath ranch with bonus loft and comes complete with all the bells and whistles! From the 20' soaring ceilings and custom archways, to the gourmet kitchen with granite countertops, simply said, this house rocks! Professionally landscaped, custom built brick paver patio with fire pit and privacy fenced backyard. Entertainment is made easy with the open floor plan flowing from the Great Rm to Dining Rm to Breakfast Nook to Kitchen. More features include: double oven, breakfast bar, center island, large master walk in closet, custom lighting, jack & jill bathrm, main level office or den. This house truly shows like a model home.

6. 2017-09-01
   historical Active with Contingency 700-char remark

   Show marketing remark (700 chars)

   Better hurry as this home won't last long! 2,318 sf 3 bedrm 2.5 bath ranch with bonus loft and comes complete with all the bells and whistles! From the 20' soaring ceilings and custom archways, to the gourmet kitchen with granite countertops, simply said, this house rocks! Professionally landscaped, custom built brick paver patio with fire pit and privacy fenced backyard. Entertainment is made easy with the open floor plan flowing from the Great Rm to Dining Rm to Breakfast Nook to Kitchen. More features include: double oven, breakfast bar, center island, large master walk in closet, custom lighting, jack & jill bathrm, main level office or den. This house truly shows like a model home.

7. 2017-08-30
   listed $274,900 Active 700-char remark

   Show marketing remark (700 chars)

   Better hurry as this home won't last long! 2,318 sf 3 bedrm 2.5 bath ranch with bonus loft and comes complete with all the bells and whistles! From the 20' soaring ceilings and custom archways, to the gourmet kitchen with granite countertops, simply said, this house rocks! Professionally landscaped, custom built brick paver patio with fire pit and privacy fenced backyard. Entertainment is made easy with the open floor plan flowing from the Great Rm to Dining Rm to Breakfast Nook to Kitchen. More features include: double oven, breakfast bar, center island, large master walk in closet, custom lighting, jack & jill bathrm, main level office or den. This house truly shows like a model home.

8. 2016-07-29
   soldstatus $255,000 Sold
9. 2016-06-06
   historical Active with Contingency
10. 2016-05-06
    listed $259,900 Active

ⓘ 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: $4,025 · $335/mo
• Projected year-2 tax: $4,025 · $335/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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,140
• − Mortgage interest: −$22,350
• − Property taxes: −$4,025
• − Insurance: −$1,995
• − Repairs & maintenance: −$2,651
• − Management: −$2,651
• − HOA: −$660
• − Depreciation: −$11,607
• Taxable loss: −$12,799
• Est. tax savings @ 24.0%: +$3,072
• After-tax cash flow: $-2,536/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: Hamilton Southeastern Schools
• NCES district ID: 1810650
• Math proficiency: 57% ▼ -11.00%
• Reading proficiency: 59% ▼ -7.00%
• Median HH income: $87,726
• Composite: 53.02/100
• National rank: #1520
• State rank: #14 of 301 in IN

Livability — Fishers

• Score: 83/100
• State rank: #11
• US rank: #898

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fishers, IN
• County: Hamilton County · 337,479 people
• City population: 92,467
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 48,713
• Household income: $141,810
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 738.0

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 381,938 people
• By 2030: 417,496 · +9.3%
• By 2040: 486,684 · +27.4%
• By 2050: 549,805 · +44.0%
• By 2075: 687,078 · +79.9%
• By 2100: 754,495 · +97.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Asian 10% Two or more races 5% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 2% Slovak 2% Iranian 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Other Indo-European 4% Other Asian/Pacific 4% Spanish 2%

Political lean MEDSL · Hamilton

• 2024 margin: Lean R (+6.1) · D 46.0% · R 52.1% · Other 1.9%
• 2008→2024 swing: +16.2pp toward D · 2008: -22.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+6.8 2016: R+19.6 2012: R+34.3 2008: R+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.93%
• Current HPI: 213.5424
• Rent YoY: ▲ 6.71%
• 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

+53.5% since first listed

10 events — show timeline

• 2026-05-13 Price Changed $399,000 MIBOR as Distributed by MLS Grid
• 2026-04-16 Price Changed $405,000 MIBOR as Distributed by MLS Grid
• 2026-04-01 Price Changed $419,000 MIBOR as Distributed by MLS Grid
• 2026-03-06 Listed $429,000 MIBOR as Distributed by MLS Grid
• 2017-09-25 Sold (MLS) $270,000 MIBOR as Distributed by MLS Grid
• 2017-09-01 Contingent — MIBOR as Distributed by MLS Grid
• 2017-08-30 Listed $274,900 MIBOR as Distributed by MLS Grid
• 2016-07-29 Sold (MLS) $255,000 MIBOR as Distributed by MLS Grid
• 2016-06-06 Contingent — MIBOR as Distributed by MLS Grid
• 2016-05-06 Listed $259,900 MIBOR as Distributed by MLS Grid

Property tax history

+62.4%/yr

Latest (2025): $4,025 · +1.3% YoY. Source: county tax records.