9207 Fitzgerald Dr · Indianapolis city (balance), IN 46239

$359,284

5 bd · 3.0 ba · 2,600 sqft · Land · 21 Days on market

Built 2026 8,843 sqft lot $42/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 +9.2/30.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Schools +4.0/10.0
• 1% rule +3.0/10.0
• DSCR +2.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

D. R. Horton, America's Builder, is thrilled to unveil the enchanting Henley plan-a true epitome of modern elegance and comfort. This stunning two-story home features five spacious bedrooms and three opulent full baths, making it an ideal haven for families seeking both luxury and ample living space. As you enter the main level, you are welcomed by a seamless expanse of solid surface flooring, offering both easy maintenance and a touch of refined sophistication. The family room provides a warm and inviting atmosphere and leads to a beautifully crafted staircase, ensuring both privacy and accessibility. Culinary enthusiasts will be captivated by the kitchen's exquisite gray cabinetry, genero

Key facts

• Generous pantry
• Built-in island
• Gray cabinetry

Tags

• SOLID SURFACE FLOORING
• BEAUTIFULLY CRAFTED STAIRCASE
• GRAY CABINETRY
• GENEROUS PANTRY
• BUILT-IN ISLAND
• DEDICATED STUDY

Property features AI

Finance

• Other: Lot is approximately 0.2 acres (< 1/4 acre)
• HOA & community: Homeowners association present; HOA semi-annual fee; HOA provides insurance, maintenance, management, park/playground, walking trails, and entrance/common area maintenance; HOA governed by covenants and restrictions

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; New construction; Two levels; Proposed construction stage
• Construction: Cement siding; Slab foundation; Built by D.R. Horton
• Exterior features: Covered patio

Interior

• Kitchen: Dishwasher; Gas oven; Microhood; Disposal
• Bedrooms: 5 bedrooms total (1 on main level, 4 on upper level); Primary bedroom with walk-in closet
• Bathrooms: 3 full bathrooms total; Primary bathroom with double sinks and full shower stall
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: High ceilings; Kitchen island; Pantry; Smart thermostat; Walk-in closets; Painted woodwork
• Laundry & utility: Laundry on upper level; Electric water heater

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath land listed at $359k.

Deal economics

• At list price, monthly cash flow is $-268 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $321k (10.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $286k (20.5% below list).
• Recommended offer: $286k (20.5% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 4.4% in Indianapolis city (balance) — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 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); 337 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 34% of the median local income ($100k/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 $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 21 days — a 2% lower offer ($354k) is reasonable based on typical stale-listing flexibility.

Recommended offer $285,690 (20.5% 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: 0.80% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.20%
• DSCR: 0.86
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.11% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.34×
• Total profit: $-66,000
• Equity at exit: $53,570

10-year hold

• IRR: -5.2%
• Equity multiple: 0.61×
• Total profit: $-38,847
• Equity at exit: $31,064

Cash invested: $100,600 (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 46239

• Home prices YoY: -29.2%
• Rents YoY: 6.1%
• Active inventory: 337
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,857 medium
• Mortgage (P&I): −$1,884
• Tax est. 1.5%: −$449 /mo · $5,389/yr
• Insurance: −$150
• HOA: −$42
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $-268

Break-even live

Break-even rent $3,196

Max offer price $320,507

Occupancy floor —

Sensitivity live

Price	-10% $-20	-5% $-144	+0% $-268	+5% $-392	+10% $-516
Rent	-10% $-494	-5% $-381	+0% $-268	+5% $-155	+10% $-42
Rate	-1.0pp $-87	-0.5pp $-177	base $-268	+0.5pp $-361	+1.0pp $-456

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: $89,821
• Closing costs: $10,779
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8709 Rowling Way Indianapolis, IN	5.0	3.5	3250	$2,600	$0.80	25d	1	0.64mi
4526 Wild Turkey Dr Indianapolis, IN	4.0	2.5	1880	$1,950	$1.04	9d	1	1.35mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 2 events

1. 2026-05-05
   status Pending
2. 2026-04-14
   listed $359,284 Active

ⓘ 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 ≥101°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: $34,283
• − Mortgage interest: −$20,125
• − Property taxes: −$5,389
• − Insurance: −$1,796
• − Repairs & maintenance: −$2,743
• − Management: −$2,743
• − HOA: −$504
• − Depreciation: −$10,452
• Taxable loss: −$9,470
• Est. tax savings @ 24.0%: +$2,273
• After-tax cash flow: $-943/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): 33,931
• Household income: $100,331
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 567.0

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 0.61)
• 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%

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

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

• 2026-05-05 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-14 Listed $359,284 MIBOR as Distributed by MLS Grid

Property tax history

+0.1%/yr

Latest (2025): $10 · +0.1% YoY. Source: county tax records.