Woodford Plan · Indianapolis city (balance), IN 46239

$317,990

5 bd · 3.0 ba · 2,275 sqft · SingleFamily · 75 Days on market

Good condition

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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 +12.6/30.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to The Woodford at Palermo Gardens, the lowest-priced new single-family homes in Franklin Township. This single-family home offers the space you've been searching for! The welcoming great room opens into the gourmet kitchen and dining area with a large eat-at island. Take dinner parties outside with an optional rear covered patio. The convenient first-floor bedroom and bath provides flexibility for guests or multi-generational living. Upstairs, three bedrooms and a versatile loft space offer room for the whole family. You luxurious owner's suite features dual walk-in closets and a spa-like double vanity. Complete with a two-car garage, you'll have plenty of room for your vehicles an

Key facts

• First-floor bedroom
• Gourmet kitchen
• Dining area

Tags

• GREAT ROOM
• GOURMET KITCHEN
• DINING AREA
• LARGE EAT-AT ISLAND
• REAR COVERED PATIO
• FIRST-FLOOR BEDROOM

Property features AI

Finance

• Other: Address: 4133 Palermo Dr, Indianapolis, IN 46239; Listing status: Active
• Financial info: List price $317,990

Exterior

• Parking: 2 parking spaces
• Utilities: Has cooling (central air)
• Home design: Plan: Woodford; New construction plan
• Exterior features: Living area of 2,275 (listed)

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Central air conditioning

🏗️ New construction. The $317,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $320,775.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $318k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-39 ($-472/yr) — negative.
• To cash-flow at today's rent, offer at most $315k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (13.3% below list).
• Recommended offer: $276k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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.
• Franklin Township Community School Corporation (urban): math 42% / reading 47% proficiency, ranked #87 of 301 in IN (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklin Central Junior High (math 31% / reading 40%, grade F, #162 of 330 statewide, top 49%, 1,711 students, 51% FRL); Franklin Central High School (math 41% / reading 69%, grade C, #77 of 369 statewide, top 21%, 3,319 students, 46% FRL) — zoned schools average 48% FRL vs 29% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 337 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 33% of the median local income ($100k/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.
• Marion County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($299k) is reasonable based on typical stale-listing flexibility.

Recommended offer $275,634 (13.3% 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 75 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.86% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.53%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $320,775
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10451 Pintail Ln	0.42mi	4/3.0 (-1)	2,302 (+1%)	2mo	$315,000	$137	72
10334 Deercrest Ln	0.29mi	4/2.5 (-1)	2,291 (+1%)	11mo	$338,000	$148	69
10644 Pintail Ln	0.64mi	5/3.0	2,308 (+2%)	3mo	$342,500	$148	65
10447 Pintail Ln	0.41mi	4/2.5 (-1)	2,322 (+2%)	11mo	$329,000	$142	62
4329 Wild Turkey Dr	0.38mi	4/3.0 (-1)	2,302 (+1%)	23mo	$320,000	$139	56
10602 Pintail Ln	0.56mi	4/2.5 (-1)	2,326 (+2%)	12mo	$329,000	$141	54
4218 Mendocino Blvd	0.74mi	5/3.0	2,422 (+6%)	8mo	$335,000	$138	48
4142 Mendocino Blvd	0.73mi	5/3.0	2,427 (+7%)	8mo	$346,000	$143	48
10448 Pintail Ln	0.40mi	4/2.5 (-1)	2,512 (+10%)	11mo	$310,000	$123	48
4236 Mendocino Blvd	0.74mi	5/3.0	2,427 (+7%)	9mo	$345,000	$142	47
10419 Pronghorn Ln	0.42mi	5/3.5	2,580 (+13%)	12mo	$350,000	$136	46
4328 Blue Note Dr	0.40mi	4/2.5 (-1)	2,516 (+11%)	18mo	$345,998	$138	42

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 · 6.11% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.49×
• Total profit: $-45,547
• Equity at exit: $47,829

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-3,812
• Equity at exit: $27,735

Cash invested: $89,817 (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 46239

• Home prices YoY: -29.2%
• Rents YoY: 6.1%
• Active inventory: 337
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,756 medium
• Mortgage (P&I): −$1,682
• Tax est. 1.5%: −$401 /mo · $4,812/yr
• Insurance: −$134
• HOA: −$0
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $-39

Break-even live

Break-even rent $2,806

Max offer price $315,089

Occupancy floor 96%

Sensitivity live

Price	-10% $182	-5% $72	+0% $-39	+5% $-150	+10% $-261
Rent	-10% $-257	-5% $-148	+0% $-39	+5% $70	+10% $178
Rate	-1.0pp $122	-0.5pp $42	base $-39	+0.5pp $-122	+1.0pp $-207

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: $80,194
• Closing costs: $9,623
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4526 Wild Turkey Dr Indianapolis, IN	4.0	2.5	1880	$1,950	$1.04	9d	1	0.43mi
5824 Fire Opal Way Indianapolis, IN	5.0	3.5	2750	$2,950	$1.07	25d	1	1.27mi

Listing history 13 events

1. 2026-06-21
   days on market $317,990 Active 75 DOM
2. 2026-06-18
   days on market $317,990 Active 72 DOM
3. 2026-06-17
   days on market $317,990 Active 71 DOM
4. 2026-06-16
   days on market $317,990 Active 70 DOM
5. 2026-06-15
   days on market $317,990 Active 69 DOM
6. 2026-06-13
   days on market $317,990 Active 67 DOM
7. 2026-06-09
   days on market $317,990 Active 63 DOM
8. 2026-06-08
   days on market $317,990 Active 62 DOM
9. 2026-06-07
   days on market $317,990 Active 61 DOM
10. 2026-06-03
    days on market $317,990 Active 57 DOM
11. 2026-06-02
    days on market $317,990 Active 56 DOM
12. 2026-06-01
    days on market $317,990 Active 55 DOM
13. 2026-05-31
    days on market $317,990 Active 54 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $33,076
• − Mortgage interest: −$17,968
• − Property taxes: −$4,812
• − Insurance: −$1,604
• − Repairs & maintenance: −$2,646
• − Management: −$2,646
• − Depreciation: −$9,332
• Taxable loss: −$5,932
• Est. tax savings @ 24.0%: +$1,424
• After-tax cash flow: $952/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 · 6 photos

Good 80/100 Cosmetic rehab

This well-maintained single-family home in Franklin Township offers a modern kitchen, hardwood floors, and a good curb appeal. It is ready for move-in and can be enhanced with minor exterior updates and smart home devices to boost its value.

Value-add opportunities

• Both Paint exterior shutters — Enhances curb appeal and can increase both resale and rental value
• Both Install smart home devices — Improves convenience and can attract tech-savvy buyers
• Both Add a smart thermostat — Saves energy and can lower utility bills

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior shutters — Enhances curb appeal and can increase both resale and rental value ↑
• Both Install smart home devices — Improves convenience and can attract tech-savvy buyers ↑
• Both Add a smart thermostat — Saves energy and can lower utility bills ↑

ⓘ 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: Franklin Township Community School Corporation
• NCES district ID: 1803750
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $67,825
• Composite: 39.91/100
• National rank: #3852
• State rank: #87 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): 33,931
• Household income: $100,331
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 567.0

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 0.61)
• Race & ethnicity: White 57% Black 24% Hispanic / Latino 9% Two or more races 9% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 1%
• Foreign-born: 7% · Canada, Philippines, China
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% Chinese 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: ▼ -93.15%
• Current HPI: 226.1965
• Rent YoY: ▲ 6.11%
• 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