13120 N Brick Chapel Dr · Indianapolis city (balance), IN 46113

$234,900

3 bd · 2.0 ba · 1,239 sqft · SingleFamily public records · 20 Days on market

Built 2001 4,487 sqft lot Est $229k · at est. $33/mo HOA · 2% of rent

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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 +12.7/30.0
• ARV discount +6.4/15.0
• 1% rule +3.8/10.0
• DSCR +3.8/10.0
• Schools +3.7/10.0
• 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

BRAND NEW FLOOR COVERINGS AND STILL PRICED TO SELL! Split bedroom concept. Great location close to parks and pool. Partial fenced patio.

Key facts

• Recent updates
• Great location
• 4,487 sq ft lot

Tags

• VINYL PATIO PRIVACY FENCE
• RECENT UPDATES
• GREAT LOCATION

Property features AI

Finance

• Other: Ownership interest: Mandatory fee within a planned unit development; Lot is approximately 0.1 acre (<1/4 acre)
• HOA & community: Homeowners association with annual fee; Annual association fee includes clubhouse, entrance/common areas, parks/playground, tennis courts and walking trails; Community amenities include pool, clubhouse, playground, park, tennis courts, basketball court and trails; HOA governed by covenants and restrictions

Exterior

• Parking: Attached 2-car garage with automatic door opener
• Security: Fire alarm; Smoke detectors
• Utilities: Public water; Municipal sewer; 200+ amp electrical service; Cable available; Electricity connected; Natural gas connected
• Home design: Single-family residence; One level; Property faces east
• Construction: Vinyl with brick exterior; Slab foundation; Built on one level
• Exterior features: Patio; Porch; Curbs, sidewalks and street lights

Interior

• Kitchen: Electric oven; Microwave (over range/microhood); Refrigerator; Dishwasher; Disposal
• Bedrooms: Primary suite with walk-in closet and split bedroom layout; Three bedrooms on the main level
• Bathrooms: Two full bathrooms; Primary bath with full tub/shower and garden tub
• Heating & cooling: Forced-air heating (natural gas); Central air conditioning
• Interior features: Attic access; Eat-in kitchen; Walk-in closet(s); Living room (formal); Utility room; Smoke alarm
• Laundry & utility: Main-level laundry room; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-26 ($-308/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (12.1% below list).
• Recommended offer: $206k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Mooresville Consolidated School Corporation (suburban): math 41% / reading 43% proficiency, ranked #111 of 301 in IN (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mooresville High School (math 43% / reading 74%, grade C, #60 of 369 statewide, top 16%, 1,404 students, 39% FRL).
• Zoned-school proficiency averages 58% at this address vs 42% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Mooresville Consolidated School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.9%/yr); 63 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 330 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

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.
• Morgan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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.

Recommended offer $206,415 (12.1% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.88% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.47%
• DSCR: 0.98
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $229,215
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13116 N Becks Grove Dr	0.14mi	3/2.0	1,258 (+2%)	2mo	$220,000	$175	89
13094 N Etna Green Dr	0.05mi	3/2.0	1,214 (-2%)	12mo	$240,000	$198	85
13250 N Brick Chapel Dr	0.11mi	3/2.0	1,240 (+0%)	14mo	$200,000	$161	83
13332 N Brick Chapel Dr	0.20mi	3/2.0	1,258 (+2%)	14mo	$225,599	$179	76
6261 E Ablington Ct	0.55mi	3/2.0	1,206 (-3%)	1mo	$232,000	$192	70
13446 N Carwood Ct	0.31mi	3/2.0	1,328 (+7%)	14mo	$235,000	$177	62
13430 N Carwood Ct	0.27mi	3/2.0	1,293 (+4%)	22mo	$223,000	$172	61
6150 E Terhune Ct	0.71mi	3/2.0	1,294 (+4%)	5mo	$240,000	$185	56
12830 Meagan Dr N	0.64mi	3/2.0	1,253 (+1%)	16mo	$238,500	$190	55
12825 Meagan Dr N	0.60mi	3/2.0	1,209 (-2%)	19mo	$239,000	$198	52
12865 N John Charles Ct N	0.71mi	3/2.0	1,249 (+1%)	18mo	$220,000	$176	50
6200 E Ayrshire Cir	0.46mi	3/2.0	1,402 (+13%)	22mo	$267,000	$190	38

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: -17.2%
• Equity multiple: 0.39×
• Total profit: $-39,896
• Equity at exit: $35,024

10-year hold

• IRR: -9.3%
• Equity multiple: 0.43×
• Total profit: $-37,655
• Equity at exit: $20,310

Cash invested: $65,772 (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: 9.5×

Monthly cashflow live

• Estimated rent: $2,064 medium
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,524/yr
• Insurance: −$98
• HOA: −$33
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $-26

Break-even live

Break-even rent $2,097

Max offer price $231,187

Occupancy floor 96%

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13147 N Becks Grove Ct Camby, IN	3.0	2.0	1440	$1,885	$1.31	4d	1	0.08mi
13857 N Mardenis Dr W Camby, IN	3.0	2.0	1440	$1,905	$1.32	24d	1	1.04mi
10893 Glenayr Dr Camby, IN	3.0	2.0	1171	$1,659	$1.42	11d	1	1.34mi

HOA detail

• Monthly dues: $33 · $396/yr
• Likely covers: pool

Listing history 13 events

1. 2026-06-18
   days on market $234,900 Active 20 DOM
2. 2026-06-17
   days on market $234,900 Active 19 DOM
3. 2026-06-16
   days on market $234,900 Active 18 DOM
4. 2026-06-15
   days on market $234,900 Active 17 DOM
5. 2026-06-13
   days on market $234,900 Active 15 DOM
6. 2026-06-13
   days on market $234,900 Active 14 DOM
7. 2026-06-09
   days on market $234,900 Active 11 DOM
8. 2026-06-08
   pricedays on market $234,900 Active 10 DOM
9. 2026-06-07
   days on market $239,900 Active 9 DOM
10. 2026-06-03
    days on market $239,900 Active 5 DOM
11. 2026-06-02
    days on market $239,900 Active 4 DOM
12. 2026-06-01
    days on market $239,900 Active 3 DOM
13. 2026-05-31
    days on market $239,900 Active 2 DOM

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

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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,770
• − Mortgage interest: −$13,158
• − Property taxes: −$3,524
• − Insurance: −$1,174
• − Repairs & maintenance: −$1,982
• − Management: −$1,982
• − HOA: −$396
• − Depreciation: −$6,833
• Taxable loss: −$4,279
• Est. tax savings @ 24.0%: +$1,027
• After-tax cash flow: $719/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: Mooresville Consolidated School Corporation
• NCES district ID: 1807140
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 43% ▼ -9.00%
• Median HH income: $59,316
• Composite: 37.04/100
• National rank: #4511
• State rank: #111 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 (Morgan County) Hauer SSP2

• Today (2025): 71,081 people
• By 2030: 71,178 · +0.1%
• By 2040: 69,907 · -1.7%
• By 2050: 66,455 · -6.5%
• By 2075: 57,291 · -19.4%
• By 2100: 43,782 · -38.4%

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 · Morgan

• 2024 margin: Solid R (+54.3) · D 22.0% · R 76.3% · Other 1.7%
• 2008→2024 swing: -27.3pp toward R · 2008: -27.1pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+54.6 2016: R+56.6 2012: R+41.1 2008: R+27.1

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

+128.7% since first listed

14 events — show timeline

• 2026-05-29 Listed $239,900 MIBOR as Distributed by MLS Grid
• 2024-05-30 Sold (MLS) $225,000 MIBOR as Distributed by MLS Grid
• 2024-04-24 Pending — MIBOR as Distributed by MLS Grid
• 2024-04-20 Relisted — MIBOR as Distributed by MLS Grid
• 2024-03-27 Price Changed $229,900 MIBOR as Distributed by MLS Grid
• 2024-03-20 Listed $235,000 MIBOR as Distributed by MLS Grid
• 2018-10-26 Sold (MLS) $123,900 MIBOR as Distributed by MLS Grid
• 2018-10-09 Pending — MIBOR as Distributed by MLS Grid
• 2018-10-02 Price Changed $129,900 MIBOR as Distributed by MLS Grid
• 2018-09-20 Price Changed $138,900 MIBOR as Distributed by MLS Grid
• 2018-09-11 Listed $140,000 MIBOR as Distributed by MLS Grid
• 2015-12-10 Sold (MLS) $104,900 MIBOR as Distributed by MLS Grid
• 2015-11-04 Pending — MIBOR as Distributed by MLS Grid
• 2015-10-20 Listed $104,900 MIBOR as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2025): $452 · -25.7% YoY. Source: county tax records.