6160 E 116th St · Fishers, IN 46038

$275,500

3 bd · 1.5 ba · 1,092 sqft · SingleFamily public records · 194 Days on market

Built 1960 Fair condition 0.64 ac lot $252/sqft · 20% below area Est $344k · 20% under

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Why this score? — see what drove the C- 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 +15.0/15.0
• Cash flow +13.5/30.0
• Schools +6.3/10.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• Rent growth +2.8/5.0
• 1% rule +2.6/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is your chance to live in the heart of Fishers with NO HOA!! So many possibilities with this 3 bedroom ranch that is situated on over a half acre lot! Brand new A/C and furnace! Big ticket items are done! Great opportunity to add your finishing touches and make it your own!

Key facts

• Large eat in kitchen
• Great location
• Inviting living room

Tags

• OVER A HALF ACRE
• MATURE TREES
• LARGE EAT IN KITCHEN
• INVITING LIVING ROOM
• GREAT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $276k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-417 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (26.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (23.8% below list).
• Recommended offer: $202k (26.8% below list) — sets the bar for cash-flow.
• Cap rate 6.3% 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: crime A+, amenities A+, employment 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.
• Zoned schools: New Britton Elementary School (math 70% / reading 59%, grade B, #78 of 994 statewide, top 9%, 624 students, 27% FRL); Riverside Junior High (math 42% / reading 56%, grade C-, #53 of 330 statewide, top 16%, 895 students, 25% FRL); Fishers High School (math 64% / reading 82%, grade B+, #8 of 369 statewide, top 2%, 3,674 students, 22% FRL).
• Market conditions: Rents rising (+1.3%/yr); 445 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 110d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $2k of loan paydown is wiped out by about $8k 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 194 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y ago; this cycle's ask has dropped $24k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $276k implies a 190% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,787 (26.8% 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 194 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 0.76% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 10.9

CMA / ARV

• ARV (median comp): $344,024
• List price: $275,500
• Delta: -19.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6811 Wild Cherry Dr	0.67mi	3/2.0	1,229 (+12%)	6mo	$310,000	$252	41
6751 Wild Cherry Dr	0.60mi	3/2.0	1,200 (+10%)	17mo	$282,500	$235	39
6838 Cherry Laurel Ln	0.69mi	3/2.0	1,200 (+10%)	13mo	$316,000	$263	38
11560 Cherry Blossom West Dr	0.57mi	3/2.0	1,200 (+10%)	20mo	$298,500	$249	38
11518 Cherry Blossom Dr W	0.56mi	3/2.0	1,253 (+15%)	14mo	$320,000	$255	35
6892 Cherry Blossom E Dr E	0.73mi	3/2.0	1,244 (+14%)	23mo	$310,000	$249	21

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 · 1.27% rent growth · sell at horizon

5-year hold

• IRR: -29.6%
• Equity multiple: 0.03×
• Total profit: $-74,674
• Equity at exit: $41,078

10-year hold

• IRR: -40.6%
• Equity multiple: -0.46×
• Total profit: $-112,923
• Equity at exit: $23,820

Cash invested: $77,140 (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: 2 active · 4 under contract
• Months of supply: 3.0 mo (33%/mo absorbed)
• Median asking: $302,450 ($250/sqft)
• Median days on market: 44 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +25.9% above current asking $/sqft

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

ZIP-level market 46038

• Home prices YoY: -14.2%
• Rents YoY: 1.3%
• Active inventory: 445
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,099 medium
• Mortgage (P&I): −$1,445
• Tax from tax record: −$89 /mo · $1,071/yr
• Insurance: −$115
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $-417

Break-even live

Break-even rent $2,627

Max offer price $201,787

Occupancy floor —

Sensitivity live

Price	-10% $-261	-5% $-339	+0% $-417	+5% $-495	+10% $-573
Rent	-10% $-583	-5% $-500	+0% $-417	+5% $-334	+10% $-251
Rate	-1.0pp $-279	-0.5pp $-347	base $-417	+0.5pp $-489	+1.0pp $-561

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: $68,875
• Closing costs: $8,265
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6220 Wahpihani Dr Unit 1536667P Fishers, IN	2.0	2.0	1496	$7,340	$4.91	110d	1	0.11mi
11389 Songbird Ln Fishers, IN	3.0	2.0	1212	$2,200	$1.82	139d	1	0.57mi
6815 Cherry Laurel Ln Fishers, IN	3.0	2.0	1220	$2,250	$1.84	7d	1	0.67mi
10190 Allisonville Rd Fishers, IN	1.0–2.0	1.0–2.0	903	$1,490	$1.65	0d	20	1.44mi

Listing history 50 events

1. 2026-08-18
   days on market $275,500 Active 194 DOM
2. 2026-08-17
   days on market $275,500 Active 193 DOM
3. 2026-08-16
   days on market $275,500 Active 192 DOM
4. 2026-08-15
   days on market $275,500 Active 191 DOM
5. 2026-08-14
   days on market $275,500 Active 190 DOM
6. 2026-08-13
   days on market $275,500 Active 189 DOM
7. 2026-08-12
   days on market $275,500 Active 188 DOM
8. 2026-08-11
   days on market $275,500 Active 187 DOM
9. 2026-08-10
   days on market $275,500 Active 186 DOM
10. 2026-08-09
    days on market $275,500 Active 185 DOM
11. 2026-08-08
    days on market $275,500 Active 184 DOM
12. 2026-08-07
    days on market $275,500 Active 183 DOM
13. 2026-08-06
    days on market $275,500 Active 182 DOM
14. 2026-08-05
    days on market $275,500 Active 181 DOM
15. 2026-08-04
    days on market $275,500 Active 180 DOM
16. 2026-08-03
    days on market $275,500 Active 179 DOM
17. 2026-07-31
    days on market $275,500 Active 176 DOM
18. 2026-07-30
    days on market $275,500 Active 174 DOM
19. 2026-07-28
    days on market $275,500 Active 173 DOM
20. 2026-07-26
    days on market $275,500 Active 171 DOM
21. 2026-07-24
    days on market $275,500 Active 169 DOM
22. 2026-07-23
    days on market $275,500 Active 168 DOM
23. 2026-07-22
    days on market $275,500 Active 167 DOM
24. 2026-07-21
    days on market $275,500 Active 166 DOM
25. 2026-07-20
    days on market $275,500 Active 165 DOM
26. 2026-07-18
    days on market $275,500 Active 163 DOM
27. 2026-07-18
    days on market $275,500 Active 162 DOM
28. 2026-07-16
    days on market $275,500 Active 161 DOM
29. 2026-07-15
    days on market $275,500 Active 160 DOM
30. 2026-07-14
    days on market $275,500 Active 159 DOM
31. 2026-07-13
    days on market $275,500 Active 158 DOM
32. 2026-07-13
    days on market $275,500 Active 157 DOM
33. 2026-07-11
    days on market $275,500 Active 156 DOM
34. 2026-07-10
    days on market $275,500 Active 155 DOM
35. 2026-07-09
    days on market $275,500 Active 154 DOM
36. 2026-07-07
    days on market $275,500 Active 152 DOM
37. 2026-07-06
    days on market $275,500 Active 151 DOM
38. 2026-07-05
    days on market $275,500 Active 150 DOM
39. 2026-07-03
    days on market $275,500 Active 148 DOM
40. 2026-07-02
    days on market $275,500 Active 147 DOM
41. 2026-07-01
    days on market $275,500 Active 146 DOM
42. 2026-06-30
    days on market $275,500 Active 145 DOM
43. 2026-06-29
    days on market $275,500 Active 144 DOM
44. 2026-06-28
    days on market $275,500 Active 143 DOM
45. 2026-06-27
    days on market $275,500 Active 142 DOM
46. 2026-06-26
    days on market $275,500 Active 141 DOM
47. 2026-06-22
    days on market $275,500 Active 137 DOM
48. 2026-06-21
    days on market $275,500 Active 136 DOM
49. 2026-06-18
    days on market $275,500 Active 133 DOM
50. 2026-06-17
    days on market $275,500 Active 132 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: $1,071 · $89/mo
• Projected year-2 tax: $1,706 · $142/mo
• Expected delta: +$635/yr (+$53/mo · 59.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% 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 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,185
• − Mortgage interest: −$15,432
• − Property taxes: −$1,071
• − Insurance: −$6,496
• − Repairs & maintenance: −$2,015
• − Management: −$2,015
• − Depreciation: −$8,015
• Taxable loss: −$9,858
• Est. tax savings @ 24.0%: +$2,366
• After-tax cash flow: $-2,641/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 · 10 photos

Fair 45/100 Moderate rehab Est. rehab $27,300–$49,140 screening

The home is in fair condition with moderate repairs needed, particularly to the exterior and kitchen. Painting the exterior and improving the landscaping would significantly enhance its resale and rental value.

Components & finishes AI

Roof asphalt shingle · good Flooring wood

Deferred maintenance Est. $2,000–$8,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Minor Windows (windows) — No visible signs of damage or wear on the windows.
• Minor Electrical (electrical) — No visible signs of damage or wear on the electrical components.
• Minor Plumbing (plumbing) — No visible signs of damage or wear on the plumbing.

Repairs flagged

• Minor Kitchen cabinets — Slight wear and tear, but not in need of immediate replacement.
• Minor Bathroom vanity — Some wear, but still functional and not in need of immediate replacement.
• Moderate Exterior siding — Some peeling and wear, indicating a need for repainting or minor repairs.
• Minor Driveway — Some cracks and wear, but not in need of immediate replacement.

Value-add opportunities

• Resale Painting exterior siding — Fresh paint can significantly improve the home's curb appeal and resale value. ↑
• Rental Landscaping and yard maintenance — A well-maintained yard can attract more renters and increase rental value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 63/100

Zoned Schools

Elementary New Britton Elementary School B IN #78/994 Nat'l #5,189/41,679 Middle Riverside Intermediate School C+ IN #34/330 Nat'l #2,954/14,009 High Fishers High School B+ IN #8/369 Nat'l #1,820/17,239

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

A Composite livability gradescore 83/100

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

• County: Hamilton County · 381,938 people
• City population: 92,467
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 43,754
• Household income: $106,886
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 7% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Asian 6% Black 6% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 88% English-only · Other Indo-European 3% Spanish 3% Arabic 2%

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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: ▼ -39.52%
• Current HPI: 238.7602
• Rent YoY: ▲ 1.27%
• 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

Price history

+216.0% since first listed

20 events — show timeline

• 2026-04-25 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-04-21 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-18 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-04-17 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-06 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-11-24 Listed $299,900 MIBOR as Distributed by MLS Grid
• 2016-07-29 Sold (MLS) $95,000 MIBOR as Distributed by MLS Grid
• 2016-04-05 Price Changed $91,000 MIBOR as Distributed by MLS Grid
• 2015-10-23 Pending — MIBOR as Distributed by MLS Grid
• 2015-09-25 Price Changed $99,500 MIBOR as Distributed by MLS Grid
• 2015-06-12 Listed $105,000 MIBOR as Distributed by MLS Grid
• 2006-08-31 Sold (MLS) $104,000 MIBOR as Distributed by MLS Grid
• 2006-04-30 Listed $107,900 MIBOR as Distributed by MLS Grid
• 2004-06-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2003-12-19 Listed $109,900 MIBOR as Distributed by MLS Grid
• 2002-01-04 Sold (MLS) $83,000 MIBOR as Distributed by MLS Grid
• 2001-09-12 Listed $86,900 MIBOR as Distributed by MLS Grid
• 2001-07-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-01-31 Listed $94,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2025): $1,071 · -8.5% YoY. Source: county tax records.