13821 N Rising Sun Cir E · Indianapolis city (balance), IN 46113

$325,000

4 bd · 2.5 ba · 2,200 sqft · SingleFamily public records · 51 Days on market

Built 2023 Good condition 7,013 sqft lot Est $350k · 7% under $30/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 +13.2/30.0
• ARV discount +10.7/15.0
• DSCR +4.0/10.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Rent growth +3.2/5.0
• 1% rule +2.7/10.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

HUGE PRICE REDUCTION!! Why wait on new construction when the upgrades are already done? Built in 2023, this 4 bedroom, 2.5 bath home offers the fresh, newer-home feel buyers want, plus the after-closing extras they usually have to budget for later. Inside, you'll find new LVP flooring throughout, a dedicated office, spacious loft, and a flexible layout that works beautifully for everyday living, guests, working from home, or a growing household. Outside, the fully fenced backyard, premium lot, fire pit area, and brand new Trex deck make the outdoor space ready to enjoy right away. Transferable warranties on select updates add peace of mind, and the home is move-in ready without the wait, du

Key facts

• Premium lot
• Fire pit
• Updated home

Tags

• UPDATED HOME
• PREMIUM LOT
• NEW LVP FLOORING
• NEW TREX DECK
• FULLY FENCED BACKYARD
• FIRE PIT

Property features AI

Finance

• Other: Lot about 0.16 acres (< 1/4 acre)
• HOA & community: HOA with annual fee of $365; HOA includes insurance, park, playground, management, common entrance maintenance

Exterior

• Parking: Attached 2-car garage (approx. 400 sq ft)
• Utilities: Public water; Municipal sewer connected; Electricity connected; Natural gas connected; Cable available
• Home design: Single-family residence; Two levels; Built by Ryan Homes; Mandatory HOA
• Construction: Vinyl siding; Slab foundation
• Exterior features: Deck; Fire pit; Chain link full fence; Sidewalks; Rural-subdivision setting

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: Primary bedroom with walk-in closet; Four upper-level bedrooms
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Kitchen island; Eat-in kitchen; Pantry; Walk-in closets; Double sinks in primary bathroom

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $325k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-8 ($-94/yr) — negative.
• To cash-flow at today's rent, offer at most $324k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (22.9% below list).
• Recommended offer: $250k (22.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.4% in Indianapolis city (balance) — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Mooresville Consolidated School Corporation (suburban): math 41% / reading 43% proficiency, ranked #111 of 301 in IN (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Madison Elementary School (math 48% / reading 33%, grade F, #491 of 994 statewide, top 50%, 632 students, 46% FRL); Paul Hadley Middle School (math 31% / reading 38%, grade F, #167 of 330 statewide, top 52%, 687 students, 47% FRL); Mooresville High School (math 43% / reading 74%, grade C, #60 of 369 statewide, top 16%, 1,404 students, 39% FRL).
• Market conditions: Rents rising (+2.9%/yr); 67 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 330 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($84k/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 $10k of value loss. Plan a longer hold.
• Morgan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.

Recommended offer $250,434 (22.9% 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 51 days. Have you received any prior offers? Is the seller open to a 23% 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. 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?
6. 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.
7. 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.
8. 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: 0.77% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.10%
• DSCR: 1.00
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $349,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7147 E Rising Sun Cir S	0.20mi	4/2.5	2,203 (+0%)	4mo	$320,000	$145	87
13820 N Cardonia Dr	0.31mi	5/2.5 (+1)	2,203 (+0%)	14mo	$325,000	$148	69
13885 N Rising Sun Cir E	0.11mi	5/2.5 (+1)	1,918 (-13%)	0mo	$273,000	$142	68
13874 N Hawkers Hill Dr	0.21mi	4/2.5	1,900 (-14%)	3mo	$305,000	$161	65
13781 N Rising Sun Cir E	0.09mi	4/2.5	1,903 (-14%)	14mo	$310,500	$163	62
13841 N Cardonia Dr	0.28mi	4/2.5	1,920 (-13%)	5mo	$105,000	$55	62
13777 N Rising Sun Cir E	0.10mi	4/2.5	1,903 (-14%)	14mo	$302,999	$159	61
7208 E Rising Sun Cir N	0.19mi	4/2.5	1,903 (-14%)	10mo	$304,945	$160	60
7111 E Rising Sun Cir N	0.27mi	4/2.5	1,924 (-12%)	8mo	$317,000	$165	60
7119 E Rising Sun Cir N	0.26mi	4/2.5	1,903 (-14%)	9mo	$289,990	$152	58
13844 N Cardonia Dr	0.31mi	4/2.5	1,920 (-13%)	10mo	$263,000	$137	56
13860 N Tiosa Ln	0.26mi	4/2.5	1,900 (-14%)	13mo	$320,000	$168	54

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.41×
• Total profit: $-53,586
• Equity at exit: $48,459

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-49,035
• Equity at exit: $28,100

Cash invested: $91,000 (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 46113

• Home prices YoY: -13.0%
• Rents YoY: 2.9%
• Active inventory: 67
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,504 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$116 /mo · $1,398/yr
• Insurance: −$135
• HOA: −$30
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $-8

Break-even live

Break-even rent $2,514

Max offer price $323,618

Occupancy floor 95%

Sensitivity live

Price	-10% $176	-5% $84	+0% $-8	+5% $-100	+10% $-192
Rent	-10% $-206	-5% $-107	+0% $-8	+5% $91	+10% $190
Rate	-1.0pp $156	-0.5pp $75	base $-8	+0.5pp $-92	+1.0pp $-178

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13823 N Cardonia Dr Camby, IN	5.0	2.5	2200	$2,675	$1.22	19d	1	0.28mi
13857 N Mardenis Dr W Camby, IN	3.0	2.0	1440	$1,890	$1.31	0d	1	0.39mi
13320 N White Cloud Ct Camby, IN	3.0	2.0	1911	$2,000	$1.05	18d	1	1.09mi
13134 N Etna Green Dr Camby, IN	3.0	2.5	1613	$1,855	$1.15	18d	1	1.35mi
13147 N Becks Grove Ct Camby, IN	3.0	2.0	1440	$1,885	$1.31	6d	1	1.37mi

HOA detail

• Monthly dues: $30 · $360/yr

Listing history 15 events

1. 2026-06-21
   days on market $325,000 Active 51 DOM
2. 2026-06-18
   days on market $325,000 Active 48 DOM
3. 2026-06-17
   days on market $325,000 Active 47 DOM
4. 2026-06-16
   days on market $325,000 Active 46 DOM
5. 2026-06-15
   days on market $325,000 Active 45 DOM
6. 2026-06-13
   days on market $325,000 Active 43 DOM
7. 2026-06-13
   days on market $325,000 Active 42 DOM
8. 2026-06-09
   days on market $325,000 Active 39 DOM
9. 2026-06-08
   days on market $325,000 Active 38 DOM
10. 2026-06-07
    pricedays on market $325,000 Active 37 DOM
11. 2026-06-03
    days on market $341,000 Active 33 DOM
12. 2026-06-02
    days on market $341,000 Active 32 DOM
13. 2026-06-01
    days on market $341,000 Active 31 DOM
14. 2026-05-31
    days on market $341,000 Active 30 DOM
15. 2026-04-30
    listed $341,000 Active

ⓘ 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: $1,398 · $116/mo
• Projected year-2 tax: $2,080 · $173/mo
• Expected delta: +$682/yr (+$57/mo · 48.8%)

ⓘ 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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $30,052
• − Mortgage interest: −$18,205
• − Property taxes: −$1,398
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,404
• − Management: −$2,404
• − HOA: −$360
• − Depreciation: −$9,455
• Taxable loss: −$5,799
• Est. tax savings @ 24.0%: +$1,392
• After-tax cash flow: $1,298/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 · 12 photos

Good 80/100 None rehab

This move-in ready home offers a fresh, newer-home feel with modern upgrades and a spacious layout, making it an excellent investment opportunity.

Value-add opportunities

• Both landscaping and curb appeal — enhances curb appeal and adds value
• Resale painting interior walls — fresh paint can make a home more appealing
• Resale upgrading light fixtures — modern lighting can enhance the home's appeal

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping and curb appeal — enhances curb appeal and adds value ↑
• Resale painting interior walls — fresh paint can make a home more appealing ↑
• Resale upgrading light fixtures — modern lighting can enhance the home's appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mooresville Consolidated School Corporation
• NCES district ID: 1807140
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 43% ▼ -9.00%
• Median HH income: $59,316
• Composite: 37.04/100
• National rank: #4511
• State rank: #111 of 301 in IN

Livability — Indianapolis city (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Marion County · 998,460 people
• City population: 881,119
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 17,192
• Household income: $84,463
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 201.0

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 71,081 people
• By 2030: 71,178 · +0.1%
• By 2040: 69,907 · -1.7%
• By 2050: 66,455 · -6.5%
• By 2075: 57,291 · -19.4%
• By 2100: 43,782 · -38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Hispanic 5% Lithuanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 5% French/Haitian/Cajun 5%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+54.3) · D 22.0% · R 76.3% · Other 1.7%
• 2008→2024 swing: -27.3pp toward R · 2008: -27.1pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+54.6 2016: R+56.6 2012: R+41.1 2008: R+27.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.73%
• Current HPI: 225.185
• Rent YoY: ▲ 2.88%
• 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

• 2026-04-30 Listed $341,000 MIBOR as Distributed by MLS Grid

Property tax history

+1572.1%/yr

Latest (2025): $1,398 · -4.0% YoY. Source: county tax records.