10346 Strongbow Rd · Fishers, IN 46040

$649,999

4 bd · 3.5 ba · 3,572 sqft · SingleFamily public records · 40 Days on market

Built 2006 Est $611k · 6% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Schools +5.3/10.0
• ARV discount +4.6/15.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great Drees & quot; York& quot; all brick ranch plan with 40x15 full finished basement with rec/play room, 4th bdrm & amp; 3rd full bath. Hardwoods in open entry lead to 20x14 Great room. Open to Kitchen with granite countertops & amp; cherry cabinets; breakfast rm with hardwoods. Great master suite w/ raised ceiling; master bath with double sinks, garden tub & amp; full tile shower. Split bedroom plan with 2nd & amp; 3rd bdrm on main floor. 14x12 Dining rm with wainscoating & amp; crown molding give custom look & amp; feel. For sale by owner but open to working with Buyers Agents.

Key facts

• Double sinks
• Cherry cabinets
• Raised ceiling

Tags

• FULL FINISHED BASEMENT
• GRANITE COUNTERTOPS
• CHERRY CABINETS
• RAISED CEILING
• DOUBLE SINKS
• GARDEN TUB

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $650k.

Deal economics

• At list price, monthly cash flow is $3k ($42k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $650k).
• Recommended offer: $630k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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: Geist Elementary School (math 78% / reading 69%, grade A, #23 of 994 statewide, top 3%, 707 students, 13% FRL); Hamilton Se Int And Jr High Sch (math 50% / reading 60%, grade B-, #26 of 330 statewide, top 8%, 1,269 students, 13% FRL); Hamilton Southeastern Hs (math 66% / reading 85%, grade A-, #7 of 369 statewide, top 2%, 3,450 students, 15% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: 307 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $4k of loan paydown is wiped out by about $20k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $182k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($630k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y 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 $399k; list at $650k implies a 63% gain — meaningful room to come down on a strong offer.

Recommended offer $630,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.49% ✓
• Cap rate: 12.71%
• Cash-on-cash: 22.90%
• DSCR: 2.02
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $610,812
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14494 Christie Ann Dr	0.37mi	4/3.5	3,782 (+6%)	9mo	$679,525	$180	66
10591 Misty Cove Ln	0.43mi	4/3.0	3,287 (-8%)	1mo	$725,000	$221	64
9896 Timberwood Ln	0.35mi	4/2.5	3,335 (-7%)	7mo	$570,000	$171	63
10297 Anees Ln	0.66mi	3/3.5 (-1)	3,560 (-0%)	12mo	$850,000	$239	54
13836 Fieldcrest Dr	0.49mi	4/3.5	3,961 (+11%)	10mo	$615,000	$155	50
9756 Brook Meadow Dr	0.51mi	4/3.5	4,048 (+13%)	11mo	$460,000	$114	44
9787 Clay Brook Dr	0.58mi	4/3.5	3,184 (-11%)	17mo	$420,000	$132	40
10055 Win Star Way	0.61mi	4/4.5	4,069 (+14%)	14mo	$615,000	$151	33

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.8%
• Equity multiple: 1.64×
• Total profit: $115,877
• Equity at exit: $96,917

10-year hold

• IRR: 24.5%
• Equity multiple: 3.12×
• Total profit: $385,631
• Equity at exit: $56,200

Cash invested: $182,000 (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 46040

• Home prices YoY: -24.4%
• Active inventory: 307
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $9,700 medium
• Mortgage (P&I): −$3,409
• Tax from tax record: −$510 /mo · $6,117/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,037
• Net cashflow: $3,474

Break-even live

Break-even rent $5,303

Max offer price $649,999

Occupancy floor 59%

Sensitivity live

Price	-10% $3,842	-5% $3,658	+0% $3,474	+5% $3,290	+10% $3,106
Rent	-10% $2,707	-5% $3,091	+0% $3,474	+5% $3,857	+10% $4,240
Rate	-1.0pp $3,801	-0.5pp $3,639	base $3,474	+0.5pp $3,305	+1.0pp $3,134

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10599 Geist View Dr Fishers, IN	5.0	4.5	5119	$11,900	$2.32	45d	1	0.48mi
10599 Geist View Dr Fishers, IN	5.0	4.5	5119	$7,500	$1.47	9d	1	0.48mi

Listing history 23 events

1. 2026-06-21
   days on market $649,999 Active 40 DOM
2. 2026-06-18
   days on market $649,999 Active 37 DOM
3. 2026-06-17
   days on market $649,999 Active 36 DOM
4. 2026-06-16
   days on market $649,999 Active 35 DOM
5. 2026-06-15
   days on market $649,999 Active 34 DOM
6. 2026-06-13
   days on market $649,999 Active 32 DOM
7. 2026-06-09
   days on market $649,999 Active 28 DOM
8. 2026-06-08
   days on market $649,999 Active 27 DOM
9. 2026-06-07
   days on market $649,999 Active 26 DOM
10. 2026-06-03
    days on market $649,999 Active 22 DOM
11. 2026-06-02
    days on market $649,999 Active 21 DOM
12. 2026-06-01
    days on market $649,999 Active 20 DOM
13. 2026-05-31
    days on market $649,999 Active 19 DOM
14. 2026-05-12
    listed $649,999 Active 591-char remark
15. 2025-07-31
    historical
16. 2025-06-28
    price $749,900
17. 2025-06-23
    listed $799,900 Active
18. 2012-08-18
    historical
19. 2012-04-05
    listed $305,600
20. 2007-06-29
    soldstatus $399,300
21. 2007-04-26
    listed $449,900
22. 2007-04-25
    historical
23. 2006-12-21
    listed $449,900

ⓘ 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: $6,117 · $510/mo
• Projected year-2 tax: $6,117 · $510/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 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $116,400
• − Mortgage interest: −$36,410
• − Property taxes: −$6,117
• − Insurance: −$3,250
• − Repairs & maintenance: −$9,312
• − Management: −$9,312
• − Depreciation: −$18,909
• Taxable income: $33,090
• Est. tax owed @ 24.0%: −$7,942
• After-tax cash flow: $33,743/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: 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

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

• Census place: Fishers, IN
• City population: 92,467
• Population (ZIP): 17,891

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 4% Asian 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Romanian 2% Portuguese 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Arabic 1% Spanish 1%

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: ▼ -71.54%
• Current HPI: 221.8703
• Rent YoY: —
• Metro: —
• 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

+44.5% since first listed

10 events — show timeline

• 2026-05-12 Listed $649,999 FSBO.com
• 2025-07-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-06-28 Price Changed $749,900 MIBOR as Distributed by MLS Grid
• 2025-06-23 Listed $799,900 MIBOR as Distributed by MLS Grid
• 2012-08-18 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-04-05 Listed $305,600 MIBOR as Distributed by MLS Grid
• 2007-06-29 Sold (MLS) $399,300 MIBOR as Distributed by MLS Grid
• 2007-04-26 Listed $449,900 MIBOR as Distributed by MLS Grid
• 2007-04-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-12-21 Listed $449,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $6,117 · +4.4% YoY. Source: county tax records.