3046 Crimson Ct E #61 · Carmel, IN 46033

$250,000

2 bd · 2.0 ba · 1,194 sqft · Condo public records · 4 Days on market

Built 1986 $272/mo HOA · 13% of rent

---

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 +9.8/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Rent growth +4.6/5.0
• Livability +4.2/5.0
• 1% rule +3.6/10.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Conveniently located, meticulously maintained and cute as a "button" this 2 bedroom, 2 bathroom low-maintenance condo is move-in ready with new paint, new siding and a perfect layout for someone looking to downsize with ease. This main floor living condo features a 2 car garage with plenty of storage, and a fenced patio/courtyard. Enter from a covered porch into a generously sized great room large enough to entertain all of your friends and family and sit by the cozy fireplace. The newly painted kitchen is light and bright with with white cabinetry and plenty of space for your dining table and hutch. The newly painted primary bedroom offers two closets, an attached bathroom with w

Key facts

• Fenced patio
• Covered porch
• New siding

Tags

• NEW PAINT
• NEW SIDING
• FENCED PATIO
• COVERED PORCH
• GREAT ROOM
• COZY FIREPLACE

Property features AI

Finance

• Other: Horizontal property regime ownership; Community features include clubhouse, pool, curbs and sidewalks; 1 common wall; low-maintenance lifestyle
• HOA & community: Part of an HOA with monthly dues; HOA provides clubhouse, pool, grounds maintenance, snow removal and management; HOA fee includes homeowner insurance, lawn care, maintenance, and laundry connection in unit; Covenants & restrictions, rental restrictions, and rules & regulations apply

Exterior

• Parking: Attached 2-car garage with concrete driveway; Garage has a door opener and guest street parking available
• Security: Smoke detectors
• Utilities: Municipal sewer connection; Private water source; 200+ amp electric service; Cable, electricity and natural gas connected; separate electric, gas and sewer meters; Solid waste service available
• Home design: Condominium (horizontal, ground-level, private entry); One-level home facing west
• Construction: Built by C P Morgan; Vinyl with brick exterior; Slab foundation; One-story construction
• Exterior features: Covered patio; Privacy fencing; Corner lot in a cul-de-sac with curbs, sidewalks, storm sewer and mature trees; Low-maintenance suburban setting

Interior

• Kitchen: Electric oven; Microwave (with hood); Dishwasher; Garbage disposal; Refrigerator
• Bedrooms: 2 bedrooms on the main level; Primary bedroom features a split layout and direct patio access
• Flooring: Luxury vinyl plank throughout main living areas
• Bathrooms: 2 full bathrooms on the main level; Primary bath has double sinks and a full tub with separate shower
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Covered, ground-level private entry; 1 fireplace located in the great room
• Laundry & utility: In-unit laundry on the main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $-161 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (14.4% below list).
• Recommended offer: $214k (14.4% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.7% in Carmel — 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 84/100 on livability (#7 in IN, #726 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Carmel Clay Schools (urban): math 68% / reading 70% proficiency, ranked #1 of 301 in IN (top 0%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Woodbrook Elementary School (math 85% / reading 57%, grade A-, #36 of 994 statewide, top 4%, 595 students, 13% FRL); Clay Middle School (math 56% / reading 67%, grade B+, #11 of 330 statewide, top 3%, 1,423 students, 14% FRL); Carmel High School (math 77% / reading 90%, grade A, #3 of 369 statewide, top 1%, 5,192 students, 13% FRL).
• Market conditions: Rents rising fast (+8.4%/yr); 204 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,661 units permitted in Hamilton County in 2024 (1,528 in 5+ unit buildings).
• This rent is only 17% of the median local income ($153k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Hamilton County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $213,910 (14.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.86% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.44×
• Total profit: $-39,348
• Equity at exit: $37,276

10-year hold

• IRR: 0.7%
• Equity multiple: 1.06×
• Total profit: $4,430
• Equity at exit: $21,615

Cash invested: $70,000 (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 46033

• Rents YoY: 8.4%
• Active inventory: 204
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,139 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$164 /mo · $1,963/yr
• Insurance: −$104
• HOA: −$272
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $-161

Break-even live

Break-even rent $2,343

Max offer price $221,572

Occupancy floor —

Sensitivity live

Price	-10% $-19	-5% $-90	+0% $-161	+5% $-232	+10% $-302
Rent	-10% $-330	-5% $-245	+0% $-161	+5% $-76	+10% $8
Rate	-1.0pp $-35	-0.5pp $-97	base $-161	+0.5pp $-226	+1.0pp $-292

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1825 Jefferson Dr W Carmel, IN	1.0–3.0	1.0–2.5	1350	$1,992	$1.48	0d	23	0.54mi
945 Mohawk Hills Dr Carmel, IN	1.0–3.0	1.0–2.5	1210	$1,568	$1.30	0d	34	0.60mi
1685 E 116th St Carmel, IN	2.0	1.0–2.0	892	$2,475	$2.77	0d	26	0.83mi
1225 Veterans Way Carmel, IN	1.0–2.0	1.0–2.0	926	$2,478	$2.68	0d	11	0.89mi
720 S Rangeline Rd Carmel, IN	1.0–2.0	1.0–2.0	1090	$3,345	$3.07	0d	1	1.10mi
880 Monon Green Blvd Carmel, IN	3.0	1.0–2.0	1044	$2,632	$2.52	45d	5	1.11mi
750 Veterans Way Carmel, IN	1.0–3.0	1.0–2.5	1144	$3,041	$2.66	0d	1	1.14mi
881 3rd Ave SW Carmel, IN	1.0–2.0	1.0–2.0	1135	$1,999	$1.76	0d	2	1.18mi
301 American Way N Carmel, IN	1.0–3.0	1.0–2.0	1167	$2,315	$1.98	0d	1	1.24mi
358 Dartmouth St Carmel, IN	2.0	2.0	1188	$2,095	$1.76	5d	1	1.35mi
591 Monon Blvd Carmel, IN	3.0	1.0–2.0	791	$2,409	$3.04	0d	23	1.35mi
675 Beacon St Carmel, IN	1.0–3.0	1.0–2.5	1322	$2,395	$1.81	0d	18	1.41mi
110 Bryn Mawr Ln Unit 220-06 Carmel, IN	2.0	2.0	876	$1,499	$1.71	0d	1	1.44mi
110 Bryn Mawr Ln Unit T-209 Carmel, IN	3.0	1.5	1280	$2,026	$1.58	0d	1	1.44mi
110 Bryn Mawr Ln Unit 221-08 Carmel, IN	2.0	1.5	876	$1,499	$1.71	0d	1	1.44mi
110 Bryn Mawr Ln Unit 221-03 Carmel, IN	2.0	1.5	876	$1,499	$1.71	22d	1	1.44mi
110 Bryn Mawr Ln Unit 220-03 Carmel, IN	2.0	2.0	876	$1,449	$1.65	0d	1	1.44mi
110 Bryn Mawr Ln Unit T-203 Carmel, IN	3.0	1.5	1280	$2,199	$1.72	9d	1	1.44mi
221 E Main St Carmel, IN	1.0–3.0	1.0–2.0	1010	$1,724	$1.71	0d	8	1.45mi

HOA detail condo

• Monthly dues: $272 · $3,264/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-12
   status Pending
2. 2026-05-08
   listed $250,000 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: $1,963 · $164/mo
• Projected year-2 tax: $2,044 · $170/mo
• Expected delta: +$81/yr (+$7/mo · 4.1%)

ⓘ 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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,669
• − Mortgage interest: −$14,004
• − Property taxes: −$1,963
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,054
• − Management: −$2,054
• − HOA: −$3,264
• − Depreciation: −$7,273
• Taxable loss: −$6,192
• Est. tax savings @ 24.0%: +$1,486
• After-tax cash flow: $-445/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: Carmel Clay Schools
• NCES district ID: 1801200
• Math proficiency: 68% ▼ -7.00%
• Reading proficiency: 70% ▼ -7.00%
• Median HH income: $102,347
• Composite: 63.54/100
• National rank: #608
• State rank: #1 of 301 in IN

Livability — Carmel

• Score: 84/100
• State rank: #7
• US rank: #726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carmel, IN
• County: Hamilton County · 337,479 people
• City population: 99,910
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 40,881
• Household income: $153,143
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 378.0

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 381,938 people
• By 2030: 417,496 · +9.3%
• By 2040: 486,684 · +27.4%
• By 2050: 549,805 · +44.0%
• By 2075: 687,078 · +79.9%
• By 2100: 754,495 · +97.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Asian 8% Two or more races 8% Hispanic / Latino 7% Black 2%
• Hispanic origin (detail): Mexican 3% Salvadoran 1%
• Common ancestry: Romanian 4% Italian 3% Lithuanian 2%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% Chinese 3% Other Asian/Pacific 1%

Political lean MEDSL · Hamilton

• 2024 margin: Lean R (+6.1) · D 46.0% · R 52.1% · Other 1.9%
• 2008→2024 swing: +16.2pp toward D · 2008: -22.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+6.8 2016: R+19.6 2012: R+34.3 2008: R+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.29%
• Current HPI: 226.6783
• Rent YoY: ▲ 8.44%
• 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

• 2026-05-12 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-08 Listed $250,000 MIBOR as Distributed by MLS Grid

Property tax history

+11.4%/yr

Latest (2025): $1,963 · -9.4% YoY. Source: county tax records.