776 Shore View Dr · Franklin, IN 46131

$255,000

3 bd · 2.5 ba · 1,644 sqft · SingleFamily public records · 48 Days on market

Built 1995 10,367 sqft lot $155/sqft · 15% below area Est $299k · 15% under $17/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).

• ARV discount +14.1/15.0
• Cash flow +9.2/30.0
• Rent growth +3.7/5.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors and bargain shoppers! This home is a true fixer-upper, but has great bones and a gorgeous pond view. This home will need new carpet, paint, appliances and a deep cleaning. A large deck overlooking the pond adds great value. Inside is a woodburning fireplace with flanking built in oak bookcases. Roof approximately 7 years. HVAC & Water Heater approximately 5 years old. Please note: Home has strong pet odor and is in rough condition. Priced to sell quickly.

Key facts

• Large deck
• Pond view
• 0.24 acre lot

Tags

• POND VIEW
• LARGE DECK
• WOODBURNING FIREPLACE
• BUILT IN OAK BOOKCASES

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $-192 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (26.5% below list).
• Recommended offer: $187k (26.5% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 4.0% in Franklin — 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 65/100 on livability (#351 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Franklin Community School Corporation (suburban): math 36% / reading 44% proficiency, ranked #133 of 301 in IN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 282 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; solid renter incomes; 1,133 units permitted in Johnson 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 $8k of value loss. Plan a longer hold.
• Johnson County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.

Recommended offer $187,327 (26.5% 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. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 27% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.24%
• DSCR: 0.86
• GRM: 11.3

CMA / ARV

• ARV (median comp): $298,567
• List price: $255,000
• Delta: -14.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
776 Shore View Dr	0.00mi	3/2.5	1,644 (0%)	0mo	$215,000	$131	100
731 Franklin Lakes Blvd	0.16mi	3/2.0	1,652 (+0%)	2mo	$259,900	$157	88
607 S View Ct	0.05mi	3/2.0	1,612 (-2%)	9mo	$290,000	$180	85
982 Youngs Creek Dr	0.38mi	3/2.0	1,553 (-6%)	1mo	$272,500	$175	70
921 Sagittarius Ave	0.53mi	3/2.0	1,692 (+3%)	2mo	$325,000	$192	67
1195 Andromeda Dr	0.68mi	3/2.0	1,613 (-2%)	1mo	$310,000	$192	62
990 Constellation Way	0.54mi	4/2.5 (+1)	1,623 (-1%)	8mo	$305,000	$188	60
1177 Pegasus Dr	0.68mi	3/2.0	1,687 (+3%)	2mo	$324,995	$193	60
1009 Foxtail Dr	0.49mi	3/2.5	1,842 (+12%)	2mo	$315,000	$171	55
1237 Supernova Dr	0.70mi	3/2.0	1,613 (-2%)	9mo	$307,508	$191	55
1020 Constellation Way	0.59mi	3/2.0	1,804 (+10%)	2mo	$310,000	$172	53
1157 Supernova Dr	0.61mi	3/2.0	1,866 (+14%)	6mo	$324,900	$174	42

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 · 4.68% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.29×
• Total profit: $-50,389
• Equity at exit: $38,021

10-year hold

• IRR: -9.9%
• Equity multiple: 0.35×
• Total profit: $-46,103
• Equity at exit: $22,048

Cash invested: $71,400 (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 46131

• Home prices YoY: -27.8%
• Rents YoY: 4.7%
• Active inventory: 282
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,873 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$212 /mo · $2,543/yr
• Insurance: −$106
• HOA: −$17
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $-192

Break-even live

Break-even rent $2,117

Max offer price $220,994

Occupancy floor —

Sensitivity live

Price	-10% $-48	-5% $-120	+0% $-192	+5% $-265	+10% $-337
Rent	-10% $-340	-5% $-266	+0% $-192	+5% $-119	+10% $-45
Rate	-1.0pp $-64	-0.5pp $-128	base $-192	+0.5pp $-259	+1.0pp $-326

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1037 W Jefferson St Franklin, IN	2.0–3.0	2.0	1131	$1,633	$1.44	2d	6	0.63mi
150 S Main St Franklin, IN	3.0	2.0	1500	$2,400	$1.60	45d	1	0.66mi
399 N Main St Unit 1 Franklin, IN	2.0	2.0	1177	$1,150	$0.98	45d	1	0.98mi
399 N Main St Unit 2 Franklin, IN	2.0	2.0	1177	$1,150	$0.98	24d	1	0.98mi

HOA detail

• Monthly dues: $17 · $204/yr
• Likely covers: water

Listing history 1 events

1. 2026-04-09
   listed $255,000 Active 486-char remark

   Show marketing remark (486 chars)

   Calling all investors and bargain shoppers! This home is a true fixer-upper, but has great bones and a gorgeous pond view. This home will need new carpet, paint, appliances and a deep cleaning. A large deck overlooking the pond adds great value. Inside is a woodburning fireplace with flanking built in oak bookcases. Roof approximately 7 years. HVAC & Water Heater approximately 5 years old. Please note: Home has strong pet odor and is in rough condition. Priced to sell quickly.

ⓘ 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: $2,543 · $212/mo
• Projected year-2 tax: $2,543 · $212/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 4/10 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,479
• − Mortgage interest: −$14,284
• − Property taxes: −$2,543
• − Insurance: −$1,275
• − Repairs & maintenance: −$1,798
• − Management: −$1,798
• − HOA: −$204
• − Depreciation: −$7,418
• Taxable loss: −$6,841
• Est. tax savings @ 24.0%: +$1,642
• After-tax cash flow: $-668/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 Community School Corporation
• NCES district ID: 1803690
• Math proficiency: 36% ▼ -11.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $54,855
• Composite: 34.93/100
• National rank: #5066
• State rank: #133 of 301 in IN

Livability — Franklin

• Score: 65/100
• State rank: #351
• US rank: #13428

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, IN
• County: Johnson County · 154,261 people
• City population: 34,647
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 34,647
• Household income: $85,076
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 984.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 170,080 people
• By 2030: 179,983 · +5.8%
• By 2040: 198,580 · +16.8%
• By 2050: 214,661 · +26.2%
• By 2075: 247,990 · +45.8%
• By 2100: 257,821 · +51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+34.3) · D 32.0% · R 66.3% · Other 1.7%
• 2008→2024 swing: -8.9pp toward R · 2008: -25.5pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+34.1 2016: R+42.5 2012: R+38.5 2008: R+25.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.53%
• Current HPI: 235.0009
• Rent YoY: ▲ 4.68%
• 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

1 event — show timeline

• 2026-04-09 Listed $255,000 MIBOR as Distributed by MLS Grid

Property tax history

+6.8%/yr

Latest (2024): $2,543 · +3.4% YoY. Source: county tax records.