9849 N Anchor Bnd · McCordsville, IN 46055

$489,000

4 bd · 2.5 ba · 3,853 sqft · SingleFamily public records · 1 Days on market

Built 2007 0.25 ac lot Est $570k · 14% under

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Why this score? — see what drove the B- 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 +26.4/30.0
• ARV discount +13.9/15.0
• DSCR +9.0/10.0
• 1% rule +6.4/10.0
• Schools +4.1/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This luxurious, pond-view home will have you swooning. With almost 4,000 square feet and extra tall ceilings you will never run out of space. Gourmet kitchen features double wall ovens, huge pantry, and an adjacent dry bar. All appliances stay, even the conveniently located upstairs washer and dryer. Outdoor space includes a deck, fully fenced in backyard, and a perfect view of the pond. Curl up by the fire or soak in the sunshine in the sunroom or neighborhood pool! Brand new roof, gutters, and downspouts. Just minutes from Geist Reservoir, Fort Harrison State Park, and I-465.

Key facts

• Open-plan kitchen
• Central island
• Double vanity

Tags

• OPEN-PLAN KITCHEN
• STAINLESS STEEL APPLIANCES
• DOUBLE OVEN
• CENTRAL ISLAND
• DOUBLE VANITY
• WALK-IN SHOWER

Property features AI

Exterior

• Parking: Attached 3-car garage with garage door opener
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single family residence; Two levels
• Construction: Vinyl with brick and brick exterior; Slab foundation; Built on two stories
• Exterior features: Covered patio/porch; Deck; Full fencing; On waterfront with pond; Updated/remodeled condition; Satellite dish

Interior

• Kitchen: Electric cooktop; Electric oven; Double oven; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: Four bedrooms on the upper level; Primary bedroom: see remarks
• Bathrooms: Two full bathrooms (both on upper level); One half bathroom on the main level; Primary bathroom with full shower stall
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Kitchen island; Utility room; One fireplace in the family room
• Laundry & utility: Laundry room (upper level); Washer; Dryer; Water heater (includes gas water heater)

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $489k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $489k).
• Cap rate 9.4% vs local median 3.9% in McCordsville — 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 69/100 on livability (#181 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mt Vernon Community School Corporation (rural): math 43% / reading 48% proficiency, ranked #70 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.2%/yr); 422 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).
• At $5,553/mo this rent would consume 59% of the median local household income ($114k/yr) (locally 58% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $137k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $346k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $489,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-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?
3. 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.
4. 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.
5. 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: 1.14% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.22%
• DSCR: 1.50
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $570,244
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5401 W Stream Dr	0.32mi	5/4.5 (+1)	3,690 (-4%)	0mo	$565,000	$153	64
9712 N Port Dr	0.23mi	5/3.5 (+1)	3,487 (-10%)	0mo	$484,000	$139	64
9773 N Moonstone Pl	0.37mi	3/3.0 (-1)	4,017 (+4%)	8mo	$595,000	$148	62
9333 N Bayhill Cir	0.56mi	4/2.5	4,236 (+10%)	4mo	$415,000	$98	54
5345 Ridgecrest Ln	0.49mi	5/4.5 (+1)	3,725 (-3%)	7mo	$545,000	$146	52
9896 Timberwood Ln	0.48mi	4/2.5	3,335 (-13%)	7mo	$570,000	$171	49
9800 Ridgecrest Ln	0.43mi	5/3.5 (+1)	3,344 (-13%)	4mo	$405,000	$121	46
14479 Brook Meadow Dr	0.56mi	5/3.5 (+1)	4,305 (+12%)	3mo	$507,000	$118	43
10238 Wicklow Ct	0.64mi	4/3.5	4,287 (+11%)	6mo	$670,000	$156	42
9770 Highland Springs Dr N	0.63mi	5/3.0 (+1)	3,458 (-10%)	8mo	$600,000	$174	39
6404 Briarway Ct	0.70mi	5/3.5 (+1)	4,177 (+8%)	9mo	$625,000	$150	37
14462 Brook Meadow Dr	0.56mi	5/3.5 (+1)	4,390 (+14%)	8mo	$457,500	$104	35

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 · 5.18% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.11×
• Total profit: $14,634
• Equity at exit: $72,911

10-year hold

• IRR: 14.2%
• Equity multiple: 2.25×
• Total profit: $170,764
• Equity at exit: $42,280

Cash invested: $136,920 (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 46055

• Home prices YoY: -20.1%
• Rents YoY: 5.2%
• Active inventory: 422
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $5,553 medium
• Mortgage (P&I): −$2,564
• Tax from tax record: −$339 /mo · $4,071/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,166
• Net cashflow: $1,280

Break-even live

Break-even rent $3,933

Max offer price $489,000

Occupancy floor 72%

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10057 Backstretch Row Unit NA Fortville, IN	5.0	5.0	5541	$4,499	$0.81	2d	1	0.78mi
8775 N Springview Dr McCordsville, IN	4.0	2.5	3062	$2,476	$0.81	12d	1	1.09mi
10599 Geist View Dr Fishers, IN	5.0	4.5	5119	$11,900	$2.32	44d	1	1.11mi
10599 Geist View Dr Fishers, IN	5.0	4.5	5119	$7,500	$1.47	8d	1	1.11mi

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $489,000 Active 1 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: $4,071 · $339/mo
• Projected year-2 tax: $4,114 · $343/mo
• Expected delta: +$43/yr (+$4/mo · 1.0%)

ⓘ 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 ≥100°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $66,641
• − Mortgage interest: −$27,392
• − Property taxes: −$4,071
• − Insurance: −$2,445
• − Repairs & maintenance: −$5,331
• − Management: −$5,331
• − Depreciation: −$14,225
• Taxable income: $7,845
• Est. tax owed @ 24.0%: −$1,883
• After-tax cash flow: $13,475/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: Mt Vernon Community School Corporation
• NCES district ID: 1807260
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $73,671
• Composite: 41.3/100
• National rank: #3514
• State rank: #70 of 301 in IN

Livability — McCordsville

• Score: 69/100
• State rank: #181
• US rank: #8388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McCordsville, IN
• County: Hancock County · 59,521 people
• City population: 16,010
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 16,010
• Household income: $113,784
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 58.0

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 13% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Lithuanian 3% Italian 3% Romanian 3%
• Foreign-born: 4% · Canada, Vietnam, Jamaica
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.35%
• Current HPI: 207.9764
• Rent YoY: ▲ 5.18%
• 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

+60.3% since first listed

16 events — show timeline

• 2026-06-16 Listed $489,000 MIBOR as Distributed by MLS Grid
• 2020-12-15 Sold (MLS) $346,000 MIBOR as Distributed by MLS Grid
• 2020-11-24 Pending — MIBOR as Distributed by MLS Grid
• 2020-11-02 Pending — MIBOR as Distributed by MLS Grid
• 2020-10-23 Listed $350,000 MIBOR as Distributed by MLS Grid
• 2014-08-05 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-08-01 Sold (MLS) $258,000 MIBOR as Distributed by MLS Grid
• 2014-05-28 Listed $270,000 MIBOR as Distributed by MLS Grid
• 2013-05-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-11-13 Listed $275,000 MIBOR as Distributed by MLS Grid
• 2012-02-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-01-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-01-26 Listed $277,400 MIBOR as Distributed by MLS Grid
• 2010-01-18 Listed $277,400 MIBOR as Distributed by MLS Grid
• 2010-01-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-10-08 Listed $305,000 MIBOR as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $4,071 · -6.4% YoY. Source: county tax records.