6990 E Dakota Ln · Indianapolis city (balance), IN 46113

$248,500

3 bd · 2.0 ba · 1,528 sqft · SingleFamily public records · 16 Days on market

Built 2023 Good condition 0.28 ac lot Est $264k · 6% under $190/mo HOA · 9% 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 +11.5/30.0
• ARV discount +10.2/15.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This single-story single-family residence, constructed in 2023, presents an attractive property in Camby in one of Heartland Crossing newer neighborhoods. The spacious kitchen, a true highlight of the home, features elegant shaker cabinets, a practical kitchen bar, and a generously sized kitchen island, all contributing to an inviting environment for culinary exploration and social interaction. The residence encompasses 1528 square feet of living area, thoughtfully designed with an open floor plan that creates an expansive and inviting atmosphere throughout the primary spaces. Two full bathrooms enhance the comfort of this home, including one thoughtfully designed with a spacious walk in sh

Key facts

• Open floor plan
• Spacious kitchen
• Kitchen island

Tags

• SPACIOUS KITCHEN
• ELEGANT SHAKER CABINETS
• KITCHEN ISLAND
• OPEN FLOOR PLAN
• WALK IN SHOWER
• PATIO

Property features AI

Finance

• Other: Property listed as part of The Enclave At Heartland Crossing (lot: Lot 324)
• HOA & community: Has HOA with monthly dues of $190; HOA services include lawn care, maintenance, management, snow removal, and upkeep of common entrance areas; HOA disclosures include other assessments and rules & regulations

Exterior

• Parking: Attached 2-car garage
• Security: No specific security features listed
• Utilities: Public water; Municipal sewer connected; Solid waste service not listed
• Home design: Single-family residence; One story; Mandatory-fee ownership (association)
• Construction: Cement siding; Slab foundation; Built on a lot of approximately 0.28 acres
• Exterior features: Covered porch; Sidewalks

Interior

• Kitchen: Main-level kitchen (appliance details not provided)
• Bedrooms: Three main-level bedrooms with a bedroom-split layout and walk-in closet in primary
• Flooring: Flooring details not provided
• Bathrooms: Two full bathrooms on the main level; Primary bathroom with double sinks and a full shower stall
• Heating & cooling: Forced-air heating (natural gas); Central air conditioning
• Interior features: Open main-level living and dining areas; Covered front porch
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $248k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-80 ($-955/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (16.1% below list).
• Recommended offer: $208k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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.
• Mooresville Consolidated School Corporation (suburban): math 41% / reading 43% proficiency, ranked #111 of 301 in IN (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Madison Elementary School (math 48% / reading 33%, grade F, #491 of 994 statewide, top 50%, 632 students, 46% FRL); Mooresville High School (math 43% / reading 74%, grade C, #60 of 369 statewide, top 16%, 1,404 students, 39% FRL).
• Market conditions: Rents rising (+2.9%/yr); 63 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 330 units permitted in Morgan County in 2024 (0 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 $7k of value loss. Plan a longer hold.
• Morgan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($245k) is reasonable based on typical stale-listing flexibility.

Recommended offer $208,496 (16.1% 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. 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: 0.84% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $264,344
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6933 E Bean Blossom Dr	0.21mi	3/2.0	1,528 (0%)	1mo	$345,000	$226	89
13849 N Kennard Way	0.07mi	3/2.0	1,338 (-12%)	3mo	$269,990	$202	74
13863 N Americus Way	0.06mi	3/2.0	1,338 (-12%)	8mo	$288,555	$216	70
13862 N Americus Way	0.09mi	3/2.0	1,694 (+11%)	10mo	$292,425	$173	69
13849 N Fairwood Dr	0.40mi	3/2.0	1,658 (+8%)	0mo	$265,000	$160	67
13835 N Cardonia Dr	0.26mi	4/2.5 (+1)	1,680 (+10%)	3mo	$31,000	$18	62
6360 E Old Otto Ct S	0.63mi	3/2.0	1,568 (+3%)	5mo	$243,000	$155	62
7051 E Bean Blossom Dr	0.23mi	3/2.0	1,340 (-12%)	10mo	$300,000	$224	61
13420 N Carefree Ct	0.71mi	2/2.0 (-1)	1,665 (+9%)	1mo	$305,000	$183	46
13813 N Hawkers Hill Dr	0.36mi	4/2.5 (+1)	1,740 (+14%)	12mo	$290,000	$167	43
6360 E Ablington Ct	0.75mi	3/2.0	1,692 (+11%)	10mo	$280,000	$165	39
13381 N White Cloud Ct	0.73mi	2/2.5 (-1)	1,722 (+13%)	10mo	$260,000	$151	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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.35×
• Total profit: $-45,550
• Equity at exit: $37,052

10-year hold

• IRR: -11.3%
• Equity multiple: 0.32×
• Total profit: $-47,068
• Equity at exit: $21,486

Cash invested: $69,580 (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 46113

• Home prices YoY: -13.0%
• Rents YoY: 2.9%
• Active inventory: 63
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,085 high
• Mortgage (P&I): −$1,303
• Tax from tax record: −$130 /mo · $1,560/yr
• Insurance: −$104
• HOA: −$190
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $-80

Break-even live

Break-even rent $2,186

Max offer price $234,443

Occupancy floor 99%

Sensitivity live

Price	-10% $61	-5% $-9	+0% $-80	+5% $-150	+10% $-220
Rent	-10% $-244	-5% $-162	+0% $-80	+5% $3	+10% $85
Rate	-1.0pp $46	-0.5pp $-16	base $-80	+0.5pp $-144	+1.0pp $-209

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: $62,125
• Closing costs: $7,455
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13857 N Mardenis Dr W Camby, IN	3.0	2.0	1440	$1,905	$1.32	24d	1	0.10mi
13320 N White Cloud Ct Camby, IN	3.0	2.0	1911	$2,000	$1.05	16d	1	0.78mi
13134 N Etna Green Dr Camby, IN	3.0	2.5	1613	$1,855	$1.15	16d	1	1.04mi
13147 N Becks Grove Ct Camby, IN	3.0	2.0	1440	$1,885	$1.31	5d	1	1.06mi
8735 Limberlost Ct Camby, IN	3.0	2.5	1987	$1,895	$0.95	17d	1	1.07mi
8624 Hosta Way Camby, IN	3.0	2.5	1846	$1,761	$0.95	13d	1	1.43mi

HOA detail

• Monthly dues: $190 · $2,280/yr

Listing history 2 events

1. 2026-04-29
   status Pending
2. 2026-04-11
   listed $248,500 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: $1,560 · $130/mo
• Projected year-2 tax: $1,836 · $153/mo
• Expected delta: +$276/yr (+$23/mo · 17.7%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,020
• − Mortgage interest: −$13,920
• − Property taxes: −$1,560
• − Insurance: −$1,242
• − Repairs & maintenance: −$2,002
• − Management: −$2,002
• − HOA: −$2,280
• − Depreciation: −$7,229
• Taxable loss: −$5,215
• Est. tax savings @ 24.0%: +$1,252
• After-tax cash flow: $297/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 single-story single-family residence in Heartland Crossing is in good condition with a spacious kitchen and two full bathrooms. It is move-in ready with minor maintenance needed.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal
• Rental Clean gutters — Keeps property in good condition

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal ↑
• Rental Clean gutters — Keeps property in good condition ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mooresville Consolidated School Corporation
• NCES district ID: 1807140
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 43% ▼ -9.00%
• Median HH income: $59,316
• Composite: 37.04/100
• National rank: #4511
• State rank: #111 of 301 in IN

Livability — Indianapolis city (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Marion County · 998,460 people
• City population: 881,119
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 17,192
• Household income: $84,463
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 201.0

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 71,081 people
• By 2030: 71,178 · +0.1%
• By 2040: 69,907 · -1.7%
• By 2050: 66,455 · -6.5%
• By 2075: 57,291 · -19.4%
• By 2100: 43,782 · -38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Hispanic 5% Lithuanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 5% French/Haitian/Cajun 5%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+54.3) · D 22.0% · R 76.3% · Other 1.7%
• 2008→2024 swing: -27.3pp toward R · 2008: -27.1pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+54.6 2016: R+56.6 2012: R+41.1 2008: R+27.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.73%
• Current HPI: 225.185
• Rent YoY: ▲ 2.88%
• 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

2 events — show timeline

• 2026-04-29 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-11 Listed $248,500 MIBOR as Distributed by MLS Grid

Property tax history

+1666.3%/yr

Latest (2025): $1,560 · +2.2% YoY. Source: county tax records.