10688 Glenayr Dr · Indianapolis city (balance), IN 46113

$200,000

3 bd · 2.0 ba · 1,143 sqft · SingleFamily public records · 3 Days on market

Built 2000 6,098 sqft lot Est $215k · 7% under $30/mo HOA · 2% of rent

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Why this score? — see what drove the C 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 +21.2/30.0
• ARV discount +10.6/15.0
• DSCR +6.8/10.0
• Schools +5.5/10.0
• 1% rule +4.8/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Open concept ranch with landscaped fenced yard. Finished garage. Enjoy the quick access to SR67 for Indy commuters, lots of shopping options, medical care near by, and many parks/recreation/pool opportunities to enjoy. For the busy family...ideal. Home is ready to move into and the open kitchen & living room makes it feel even more spacious. Convenience is so important these days and this home's location offers it al...l without being in the midst of the traffic or long drives. Affordably priced.

Key facts

• Open concept ranch
• 6,098 sq ft lot
• 2 garage spots

Tags

• OPEN CONCEPT RANCH
• FULLY FENCED BACKYARD

Property features AI

Finance

• Other: Property is in a mandatory-fee association; Lot roughly 0.14 acre (< 1/4 acre)
• HOA & community: Homeowners association with annual fee; Annual association fee of $365; HOA provides clubhouse, grounds maintenance, management, playground and tennis courts; Covenants & restrictions apply

Exterior

• Parking: Attached 2-car garage (approximately 380 sq ft)
• Utilities: Public water; Municipal sewer; Electricity connected; Natural gas connected; Cable available; Water connected; Solid waste service available; Renewable fuel source
• Home design: Single family residence; One level
• Construction: Vinyl siding; Slab foundation
• Exterior features: Front porch; Privacy fence (full, complete); Street lights nearby; Mature trees; Suburban setting

Interior

• Kitchen: Electric oven; Dishwasher; Refrigerator; Disposal; Exhaust fan; Gas water heater
• Bedrooms: Three bedrooms on the main level; Primary bedroom with walk-in closet
• Bathrooms: Two full bathrooms; Primary bathroom with full shower stall
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic access; Walk-in closet(s); Painted woodwork
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (2.5% below list).
• Recommended offer: $195k (2.5% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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 C — affects rentability + tenant quality, not the cash-flow math above.
• Plainfield Community School Corporation (suburban): math 62% / reading 65% proficiency, ranked #11 of 301 in IN (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Brentwood Elementary School (math 62% / reading 59%, grade B-, #122 of 994 statewide, top 12%, 423 students, 43% FRL); Plainfield High School (math 59% / reading 84%, grade B+, #15 of 369 statewide, top 4%, 1,782 students, 26% FRL).
• Market conditions: Rents rising (+2.9%/yr); 63 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,294 units permitted in Hendricks County in 2024 (18 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 $6k 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.
• 6 sale attempts since 26y 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 $135k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $195,081 (2.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.98% ✗
• Cap rate: 8.03%
• Cash-on-cash: 6.19%
• DSCR: 1.28
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $214,884
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10891 Sweetsen Rd	0.21mi	2/2.0 (-1)	1,069 (-6%)	10mo	$207,000	$194	66
10793 Walnut Grove Bnd	0.13mi	2/2.0 (-1)	1,057 (-8%)	14mo	$199,000	$188	65
10921 Walnut Grv	0.24mi	2/2.0 (-1)	1,057 (-8%)	15mo	$205,000	$194	59
10821 Walnut Grv	0.16mi	2/2.0 (-1)	1,057 (-8%)	20mo	$190,000	$180	58
10886 Glenayr Dr	0.21mi	3/2.5	1,308 (+14%)	21mo	$219,500	$168	46

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: -6.9%
• Equity multiple: 0.74×
• Total profit: $-14,305
• Equity at exit: $29,821

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $10,055
• Equity at exit: $17,292

Cash invested: $56,000 (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: 63
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,951 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$90 /mo · $1,083/yr
• Insurance: −$83
• HOA: −$30
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $289

Break-even live

Break-even rent $1,585

Max offer price $200,000

Occupancy floor 80%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10893 Glenayr Dr Camby, IN	3.0	2.0	1171	$1,659	$1.42	11d	1	0.20mi
8396 Gunnoah Way E Camby, IN	1.0–2.0	1.0–2.0	929	$1,800	$1.94	2d	18	0.29mi
8607 Bluff Point Dr Camby, IN	3.0	2.0	1224	$1,650	$1.35	20d	1	0.49mi
13147 N Becks Grove Ct Camby, IN	3.0	2.0	1440	$1,885	$1.31	4d	1	1.45mi

HOA detail

• Monthly dues: $30 · $360/yr
• Likely covers: pool

Listing history 4 events

1. 2026-06-15
   statusdays on market $200,000 Pending 3 DOM
2. 2026-06-13
   days on market $200,000 Active 2 DOM
3. 2026-06-13
   remarks 699-char remark
4. 2026-06-13
   listed $200,000 Active 1 DOM

ⓘ 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: $1,083 · $90/mo
• Projected year-2 tax: $1,392 · $116/mo
• Expected delta: +$308/yr (+$26/mo · 28.5%)

ⓘ 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 · 20 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: $23,410
• − Mortgage interest: −$11,203
• − Property taxes: −$1,083
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,873
• − Management: −$1,873
• − HOA: −$360
• − Depreciation: −$5,818
• Taxable income: $200
• Est. tax owed @ 24.0%: −$48
• After-tax cash flow: $3,417/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: Plainfield Community School Corporation
• NCES district ID: 1808970
• Math proficiency: 62% ▼ -8.00%
• Reading proficiency: 65% ▼ -8.00%
• Median HH income: $58,531
• Composite: 54.79/100
• National rank: #1315
• State rank: #11 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 (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: 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 · 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: ▼ -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

+129.1% since first listed

12 events — show timeline

• 2026-06-11 Listed $200,000 MIBOR as Distributed by MLS Grid
• 2019-10-04 Sold (MLS) $135,000 MIBOR as Distributed by MLS Grid
• 2019-08-23 Pending — MIBOR as Distributed by MLS Grid
• 2019-08-22 Price Changed $134,900 MIBOR as Distributed by MLS Grid
• 2019-08-22 Relisted — MIBOR as Distributed by MLS Grid
• 2019-08-17 Pending — MIBOR as Distributed by MLS Grid
• 2019-08-12 Listed $139,500 MIBOR as Distributed by MLS Grid
• 2015-05-29 Sold (MLS) $102,000 MIBOR as Distributed by MLS Grid
• 2015-04-15 Pending — MIBOR as Distributed by MLS Grid
• 2015-04-01 Listed $102,000 MIBOR as Distributed by MLS Grid
• 2015-04-01 Listed $102,000 MIBOR as Distributed by MLS Grid
• 2000-06-30 Listed $87,309 MIBOR as Distributed by MLS Grid

Property tax history

+15.0%/yr

Latest (2025): $1,083 · +17.8% YoY. Source: county tax records.