8527 Zephyr Dr · Indianapolis city (balance), IN 46217

$150,000

3 bd · 1.0 ba · 1,425 sqft · SingleFamily public records · 2 Days on market

Built 1984 0.46 ac lot Est $239k · 37% 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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.7/10.0
• Schools +3.5/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NOT MUCH WORK NEEDED TO BRING THIS TO A BEAUTIFUL HOME. PARQUET HW FLOORS IN KITCHEN, ENTRY WAY AND DINING ROOM. COZY ALL BRICK FIREPLACE IN THE LIVING ROOM THAT BURNS REAL WOOD AND DOUBLE DOORS THAT LEAD TO A WOOD DECK IN YOUR ALL WOODED BACK YARD.

Key facts

• Large lot
• Large living space
• Open layout

Tags

• LARGE LIVING SPACE
• OPEN LAYOUT
• FIREPLACE
• LARGE LOT
• NO NEIGHBORS BEHIND

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.6% 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 B — affects rentability + tenant quality, not the cash-flow math above.
• Perry Township Schools (urban): math 36% / reading 45% proficiency, ranked #138 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Glenns Valley Elementary School (math 53% / reading 41%, grade D-, #325 of 994 statewide, top 36%, 726 students, 70% FRL); Perry Meridian High School (math 34% / reading 64%, grade D, #136 of 369 statewide, top 37%, 2,350 students, 58% FRL).
• Market conditions: Rents rising (+3.5%/yr); 210 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Marion County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 25y 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 $85k; list at $150k implies a 76% gain — meaningful room to come down on a strong offer.

Recommended offer $150,000

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. 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.
3. 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.
4. 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: 1.17% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.36%
• DSCR: 1.37
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $239,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8527 Zephyr Dr	0.00mi	3/2.0	1,425 (0%)	0mo	$153,000	$107	96
8203 Railroad Rd	0.35mi	3/1.0	1,473 (+3%)	1mo	$220,000	$149	77
1137 Gulf Dr	0.17mi	3/2.0	1,320 (-7%)	2mo	$170,000	$129	74
8817 Depot Dr	0.34mi	3/2.0	1,506 (+6%)	1mo	$190,000	$126	70
1346 Boone Ct	0.36mi	3/2.0	1,335 (-6%)	3mo	$265,500	$199	66
8125 Maple Stream Ln	0.41mi	3/2.5	1,553 (+9%)	0mo	$214,900	$138	59
8151 Bold Forbes Ct	0.43mi	3/2.0	1,538 (+8%)	4mo	$265,000	$172	59
8740 Royal Meadow Dr	0.47mi	3/2.0	1,534 (+8%)	3mo	$324,900	$212	59
8602 Bishops Ln	0.33mi	3/2.0	1,610 (+13%)	2mo	$275,000	$171	57
7811 Savannah Dr	0.73mi	3/1.5	1,380 (-3%)	3mo	$225,000	$163	56
8815 Royal Meadow Dr	0.56mi	3/2.0	1,570 (+10%)	4mo	$264,500	$168	50
7820 Cannonade Dr	0.72mi	3/2.0	1,270 (-11%)	4mo	$245,000	$193	41

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 · 3.46% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-4,796
• Equity at exit: $22,365

10-year hold

• IRR: 7.2%
• Equity multiple: 1.56×
• Total profit: $23,452
• Equity at exit: $12,969

Cash invested: $42,000 (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 46217

• Rents YoY: 3.5%
• Active inventory: 210
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,757 high
• Mortgage (P&I): −$787
• Tax from tax record: −$246 /mo · $2,957/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $293

Break-even live

Break-even rent $1,387

Max offer price $150,000

Occupancy floor 78%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8611 Gandy Ct Indianapolis, IN	3.0	2.0	1064	$1,626	$1.53	17d	1	0.18mi
8705 Zephyr Dr Indianapolis, IN	3.0	1.5	1064	$1,575	$1.48	4d	1	0.23mi
8145 Maple Stream Ln Indianapolis, IN	3.0	2.5	1688	$1,756	$1.04	23d	1	0.35mi
8101 Railroad Rd Indianapolis, IN	4.0	1.5	1604	$1,766	$1.10	21d	1	0.42mi
8020 Lake Tree Cir Indianapolis, IN	3.0	2.5	1690	$1,835	$1.09	7d	1	0.48mi
7536 S Katherine Dr Indianapolis, IN	3.0	2.0	1161	$1,816	$1.56	23d	1	1.08mi
7621 Orchard Village Dr Indianapolis, IN	2.0	2.0	1082	$1,400	$1.29	23d	1	1.28mi
2755 Bloom Dr Greenwood, IN	1.0–3.0	1.0–2.0	1172	$2,000	$1.71	1d	79	1.32mi
8141 Valley Estates Dr Indianapolis, IN	3.0	2.0	1302	$1,650	$1.27	7d	1	1.39mi
7114 McLain Dr Indianapolis, IN	3.0	2.0	1000	$1,650	$1.65	3d	1	1.47mi
7266 Lockwood Ln Indianapolis, IN	1.0–2.0	1.0–2.0	824	$1,440	$1.75	2d	18	1.48mi

Listing history 8 events

1. 2026-03-10
   status Pending
2. 2026-03-07
   listed $150,000 Active
3. 2008-04-08
   soldstatus $85,000 249-char remark

   Show marketing remark (249 chars)

   NOT MUCH WORK NEEDED TO BRING THIS TO A BEAUTIFUL HOME. PARQUET HW FLOORS IN KITCHEN, ENTRY WAY AND DINING ROOM. COZY ALL BRICK FIREPLACE IN THE LIVING ROOM THAT BURNS REAL WOOD AND DOUBLE DOORS THAT LEAD TO A WOOD DECK IN YOUR ALL WOODED BACK YARD.

4. 2007-12-10
   listed $89,000 249-char remark

   Show marketing remark (249 chars)

   NOT MUCH WORK NEEDED TO BRING THIS TO A BEAUTIFUL HOME. PARQUET HW FLOORS IN KITCHEN, ENTRY WAY AND DINING ROOM. COZY ALL BRICK FIREPLACE IN THE LIVING ROOM THAT BURNS REAL WOOD AND DOUBLE DOORS THAT LEAD TO A WOOD DECK IN YOUR ALL WOODED BACK YARD.

5. 2005-10-27
   soldstatus $109,900 485-char remark

   Show marketing remark (485 chars)

   GREAT BRICK/WOOD RANCH, ALL APPLCS INCLUDED. PRIVATE FULLY FENCED BACK YARD W/MATURE TREES, WOODED LOT PRICED TO SELL. NEVER HAVE NEIGHBORS BEHIND YOU. UPDATES: ALL NEWER CARPET, NEW WINDOWS, NEWER PARQUET HW FLRS IN KI T & DR, NEW VINYL FLOORING & UPDATES IN BOTH BATHS, NEW CHIMNEY, NEW REAR DOUBLE DOORS TO WONDERFUL 12X12 RAILED DECK, ABOVE GROUND POOL, PLAYSET ALL FRESHLY PAINTED. 2 OR 3 BR'S HAVE W/I CLOSETS. NOTE SIZE OF MSTR. BEAU TIFUL WOOD BURNING FRPLC IN HUGE GR.

6. 2005-08-03
   listed $109,900 485-char remark

   Show marketing remark (485 chars)

   GREAT BRICK/WOOD RANCH, ALL APPLCS INCLUDED. PRIVATE FULLY FENCED BACK YARD W/MATURE TREES, WOODED LOT PRICED TO SELL. NEVER HAVE NEIGHBORS BEHIND YOU. UPDATES: ALL NEWER CARPET, NEW WINDOWS, NEWER PARQUET HW FLRS IN KI T & DR, NEW VINYL FLOORING & UPDATES IN BOTH BATHS, NEW CHIMNEY, NEW REAR DOUBLE DOORS TO WONDERFUL 12X12 RAILED DECK, ABOVE GROUND POOL, PLAYSET ALL FRESHLY PAINTED. 2 OR 3 BR'S HAVE W/I CLOSETS. NOTE SIZE OF MSTR. BEAU TIFUL WOOD BURNING FRPLC IN HUGE GR.

7. 2001-11-25
   historical
8. 2001-05-29
   listed $105,000

ⓘ 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: $2,957 · $246/mo
• Projected year-2 tax: $2,957 · $246/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 ≥102°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,084
• − Mortgage interest: −$8,402
• − Property taxes: −$2,957
• − Insurance: −$750
• − Repairs & maintenance: −$1,687
• − Management: −$1,687
• − Depreciation: −$4,364
• Taxable income: $1,238
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $3,213/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: Perry Township Schools
• NCES district ID: 1808820
• Math proficiency: 36% ▼ -13.00%
• Reading proficiency: 45% ▼ -6.00%
• Median HH income: $47,170
• Composite: 34.61/100
• National rank: #5153
• State rank: #138 of 301 in IN

Livability — Indianapolis city (balance)

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

Census & demographics

• Census place: Indianapolis city (balance), IN
• County: Marion County · 998,460 people
• City population: 881,119
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 36,917
• Household income: $92,029
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 472.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 1,025,572 people
• By 2030: 1,065,727 · +3.9%
• By 2040: 1,141,577 · +11.3%
• By 2050: 1,208,920 · +17.9%
• By 2075: 1,367,288 · +33.3%
• By 2100: 1,438,201 · +40.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Asian 20% Black 10% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 1%
• Foreign-born: 17% · Philippines, Canada, China
• Languages at home: 76% English-only · Other Asian/Pacific 15% Spanish 6% Other Indo-European 1%

Political lean MEDSL · Marion

• 2024 margin: Strong D (+27.7) · D 63.0% · R 35.3% · Other 1.7%
• 2008→2024 swing: -0.7pp no change · 2008: 28.4pp · 2024: 27.7pp
• All cycles: 2024: D+27.7 2020: D+29.1 2016: D+22.8 2012: D+22.2 2008: D+28.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -221.18%
• Current HPI: 223.147
• Rent YoY: ▲ 3.46%
• 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

+42.9% since first listed

8 events — show timeline

• 2026-03-10 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-07 Listed $150,000 MIBOR as Distributed by MLS Grid
• 2008-04-08 Sold (MLS) $85,000 MIBOR as Distributed by MLS Grid
• 2007-12-10 Listed $89,000 MIBOR as Distributed by MLS Grid
• 2005-10-27 Sold (MLS) $109,900 MIBOR as Distributed by MLS Grid
• 2005-08-03 Listed $109,900 MIBOR as Distributed by MLS Grid
• 2001-11-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-05-29 Listed $105,000 MIBOR as Distributed by MLS Grid

Property tax history

+0.5%/yr

Latest (2025): $2,957 · +2.2% YoY. Source: county tax records.