10781 Oriole Ct · Plainfield, IN 46231

$247,000

2 bd · 2.0 ba · 1,492 sqft · MultiFamily public records · 3 Days on market

Built 2003 5,227 sqft lot

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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 +12.5/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +3.7/10.0
• Livability +3.7/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 10781 Oriole Court, a well-maintained 2 bedroom, 2 bathroom home offering 1,492 square feet of comfortable living space in a desirable HOA community. Owned by just one owner, this property reflects pride of ownership and consistent care throughout. The spacious interior features an open and airy feel with generous living areas, vaulted ceilings, and a layout designed for both everyday living and easy entertaining. Conveniently located just minutes from the airport, about 20 minutes from downtown Indianapolis, and close to the shopping, dining, and everyday conveniences of both Avon and Plainfield, this home offers the perfect blend of comfort, location, and low-maintenance living

Key facts

• 5,227 sq ft lot
• Garage
• Built 2003

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $247k.

Deal economics

• At list price, monthly cash flow is $-36 ($-432/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (21.1% below list).
• Recommended offer: $195k (21.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.7% in Plainfield — 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 74/100 on livability (#69 in IN, #4,418 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Avon Community School Corporation (suburban): math 51% / reading 53% proficiency, ranked #32 of 301 in IN (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Hickory Elementary School (math 65% / reading 52%, grade B-, #156 of 994 statewide, top 16%, 566 students, 45% FRL); Avon Middle School South (math 48% / reading 54%, grade C, #40 of 330 statewide, top 12%, 835 students, 44% FRL); Avon High School (math 44% / reading 76%, grade C+, #46 of 369 statewide, top 13%, 3,348 students, 38% FRL) — zoned schools average 43% FRL vs 20% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 17 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).
• This rent runs 33% of the median local income ($72k/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 $7k of value loss. Plan a longer hold.
• Hendricks County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $194,955 (21.1% 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. 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. 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.79% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.62%
• DSCR: 0.97
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-42,367
• Equity at exit: $36,829

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-40,049
• Equity at exit: $21,356

Cash invested: $69,160 (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 46231

• Home prices YoY: -25.2%
• Active inventory: 17
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,950 high
• Mortgage (P&I): −$1,295
• Tax from tax record: −$178 /mo · $2,135/yr
• Insurance: −$103
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $-36

Break-even live

Break-even rent $1,995

Max offer price $240,646

Occupancy floor 97%

Sensitivity live

Price	-10% $104	-5% $34	+0% $-36	+5% $-106	+10% $-176
Rent	-10% $-190	-5% $-113	+0% $-36	+5% $41	+10% $118
Rate	-1.0pp $88	-0.5pp $27	base $-36	+0.5pp $-100	+1.0pp $-165

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: $61,750
• Closing costs: $7,410
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9225 Concert Way Indianapolis, IN	3.0	2.0	1800	$2,270	$1.26	9d	1	0.15mi
10871 Zimmerman Ln Indianapolis, IN	3.0	2.0	1751	$1,721	$0.98	0d	1	0.24mi
10729 Newgate Ln Indianapolis, IN	3.0	2.0	1468	$1,771	$1.21	25d	1	0.28mi
335 Double Creek Dr Plainfield, IN	1.0–3.0	1.0–2.0	1067	$1,650	$1.55	0d	28	0.84mi
10531 Kings Row Dr Avon, IN	1.0–3.0	1.0–2.0	1080	$1,650	$1.53	0d	10	0.91mi
539 Sun Ridge Blvd Avon, IN	3.0	2.0	1222	$1,800	$1.47	23d	1	1.16mi
10291 Medallion Dr Unit 181 Indianapolis, IN	3.0	1.0	875	$1,195	$1.37	25d	1	1.26mi

Listing history 2 events

1. 2026-04-19
   status Pending
2. 2026-04-16
   listed $247,000 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: $2,135 · $178/mo
• Projected year-2 tax: $2,135 · $178/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 ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,395
• − Mortgage interest: −$13,836
• − Property taxes: −$2,135
• − Insurance: −$1,235
• − Repairs & maintenance: −$1,872
• − Management: −$1,872
• − Depreciation: −$7,185
• Taxable loss: −$4,740
• Est. tax savings @ 24.0%: +$1,138
• After-tax cash flow: $706/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: Avon Community School Corporation
• NCES district ID: 1800270
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 53% ▼ -8.00%
• Median HH income: $75,987
• Composite: 46.93/100
• National rank: #2362
• State rank: #32 of 301 in IN

Livability — Plainfield

• Score: 74/100
• State rank: #69
• US rank: #4418

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plainfield, IN
• County: Marion County · 998,460 people
• City population: 38,826
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 10,371
• Household income: $71,825
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 301.0

Population outlook (Hendricks County) Hauer SSP2

• Today (2025): 187,418 people
• By 2030: 201,494 · +7.5%
• By 2040: 228,487 · +21.9%
• By 2050: 253,068 · +35.0%
• By 2075: 308,920 · +64.8%
• By 2100: 336,510 · +79.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 20% Black 17% Asian 12% Two or more races 7%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Slovak 2% Serbian 1% Romanian 1%
• Foreign-born: 28% · Canada, Vietnam, China
• Languages at home: 69% English-only · Spanish 13% Other Indo-European 8% Chinese 2%

Political lean MEDSL · Hendricks

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.7%
• 2008→2024 swing: +1.9pp toward D · 2008: -23.4pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+23.9 2016: R+34.2 2012: R+34.9 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.87%
• Current HPI: 219.3352
• Rent YoY: —
• 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

2 events — show timeline

• 2026-04-19 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-16 Listed $247,000 MIBOR as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2025): $2,135 · +10.6% YoY. Source: county tax records.