7409 Deerberg Dr · Indianapolis city (balance), IN 46259

$250,000

5 bd · 3.0 ba · 3,170 sqft · Land · 4 Days on market

Built 2025 9,060 sqft lot $53/mo HOA · 2% of rent ↓ 2% since listing

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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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the potential of 7409 Deerberg Drive, a newly built home, with a backyard view of water, completed at the end of 2025, now offering a unique opportunity for investors, builders, or buyers with a vision. While this modern residence suffered extensive fire damage from a neighboring property incident, the structure and layout still reflect the high-quality design and craftsmanship of a recently completed build. This property is being sold as-is, presenting an exceptional chance to rebuild and restore a nearly new home at a significant discount. Whether you choose to renovate and create your dream residence or restore and resell for a potential profit, this is an opportunity rarely seen in such a desirable Indianapolis location. Situated in a welcoming community with convenient access to shopping, dining, and major commuter routes, 7409 Deerberg Drive has all the makings of a beautiful, high-value property once revitalized. Don’t miss this chance to transform a setback into a major success — rebuild, reimagine, and realize the value of this exceptional piece of real estate. Important: No one is permitted to enter the property without first booking a showing through the appropriate scheduling system.

Key facts

• 9,060 sq ft lot
• 3 garage spots
• Built 2025

Tags

• BACKYARD VIEW OF WATER
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath land listed at $250k.

Deal economics

• At list price, monthly cash flow is $660 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 9.5% 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.
• 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: South Creek Elementary (math 62% / reading 47%, grade C, #197 of 994 statewide, top 22%, 627 students, 46% 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 46% FRL vs 29% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 159 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,906 units permitted in Marion County in 2024 (621 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 $8k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $250,000

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: 1.24% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.31%
• DSCR: 1.50
• GRM: 6.7

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,593
• Equity at exit: $37,276

10-year hold

• IRR: 10.3%
• Equity multiple: 1.80×
• Total profit: $55,823
• 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 46259

• Home prices YoY: -26.8%
• Active inventory: 159
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,089 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$53
• Vacancy / Maint / Mgmt: −$649
• Net cashflow: $660

Break-even live

Break-even rent $2,254

Max offer price $250,000

Occupancy floor 74%

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8110 Meadow Bend Dr Indianapolis, IN	4.0	2.5	2880	$2,455	$0.85	23d	1	0.92mi
7975 Meadow Bend Dr Indianapolis, IN	4.0	2.5	2529	$2,600	$1.03	10d	1	1.02mi

HOA detail

• Monthly dues: $53 · $636/yr
• Likely covers: water

Listing history 5 events

1. 2026-04-20
   soldstatus $246,000 Closed 1235-char remark

   Show marketing remark (1235 chars)

   Discover the potential of 7409 Deerberg Drive, a newly built home, with a backyard view of water, completed at the end of 2025, now offering a unique opportunity for investors, builders, or buyers with a vision. While this modern residence suffered extensive fire damage from a neighboring property incident, the structure and layout still reflect the high-quality design and craftsmanship of a recently completed build. This property is being sold as-is, presenting an exceptional chance to rebuild and restore a nearly new home at a significant discount. Whether you choose to renovate and create your dream residence or restore and resell for a potential profit, this is an opportunity rarely seen in such a desirable Indianapolis location. Situated in a welcoming community with convenient access to shopping, dining, and major commuter routes, 7409 Deerberg Drive has all the makings of a beautiful, high-value property once revitalized. Don’t miss this chance to transform a setback into a major success — rebuild, reimagine, and realize the value of this exceptional piece of real estate. Important: No one is permitted to enter the property without first booking a showing through the appropriate scheduling system.

2. 2026-04-02
   status Pending

   Show marketing remark (1235 chars)

   Discover the potential of 7409 Deerberg Drive, a newly built home, with a backyard view of water, completed at the end of 2025, now offering a unique opportunity for investors, builders, or buyers with a vision. While this modern residence suffered extensive fire damage from a neighboring property incident, the structure and layout still reflect the high-quality design and craftsmanship of a recently completed build. This property is being sold as-is, presenting an exceptional chance to rebuild and restore a nearly new home at a significant discount. Whether you choose to renovate and create your dream residence or restore and resell for a potential profit, this is an opportunity rarely seen in such a desirable Indianapolis location. Situated in a welcoming community with convenient access to shopping, dining, and major commuter routes, 7409 Deerberg Drive has all the makings of a beautiful, high-value property once revitalized. Don’t miss this chance to transform a setback into a major success — rebuild, reimagine, and realize the value of this exceptional piece of real estate. Important: No one is permitted to enter the property without first booking a showing through the appropriate scheduling system.

3. 2026-04-02
   status Pending 1235-char remark

   Show marketing remark (1235 chars)

   Discover the potential of 7409 Deerberg Drive, a newly built home, with a backyard view of water, completed at the end of 2025, now offering a unique opportunity for investors, builders, or buyers with a vision. While this modern residence suffered extensive fire damage from a neighboring property incident, the structure and layout still reflect the high-quality design and craftsmanship of a recently completed build. This property is being sold as-is, presenting an exceptional chance to rebuild and restore a nearly new home at a significant discount. Whether you choose to renovate and create your dream residence or restore and resell for a potential profit, this is an opportunity rarely seen in such a desirable Indianapolis location. Situated in a welcoming community with convenient access to shopping, dining, and major commuter routes, 7409 Deerberg Drive has all the makings of a beautiful, high-value property once revitalized. Don’t miss this chance to transform a setback into a major success — rebuild, reimagine, and realize the value of this exceptional piece of real estate. Important: No one is permitted to enter the property without first booking a showing through the appropriate scheduling system.

4. 2026-03-27
   listed $250,000 Active 1235-char remark

   Show marketing remark (1235 chars)

   Discover the potential of 7409 Deerberg Drive, a newly built home, with a backyard view of water, completed at the end of 2025, now offering a unique opportunity for investors, builders, or buyers with a vision. While this modern residence suffered extensive fire damage from a neighboring property incident, the structure and layout still reflect the high-quality design and craftsmanship of a recently completed build. This property is being sold as-is, presenting an exceptional chance to rebuild and restore a nearly new home at a significant discount. Whether you choose to renovate and create your dream residence or restore and resell for a potential profit, this is an opportunity rarely seen in such a desirable Indianapolis location. Situated in a welcoming community with convenient access to shopping, dining, and major commuter routes, 7409 Deerberg Drive has all the makings of a beautiful, high-value property once revitalized. Don’t miss this chance to transform a setback into a major success — rebuild, reimagine, and realize the value of this exceptional piece of real estate. Important: No one is permitted to enter the property without first booking a showing through the appropriate scheduling system.

5. 2026-03-27
   listed $250,000 Active

   Show marketing remark (1235 chars)

   Discover the potential of 7409 Deerberg Drive, a newly built home, with a backyard view of water, completed at the end of 2025, now offering a unique opportunity for investors, builders, or buyers with a vision. While this modern residence suffered extensive fire damage from a neighboring property incident, the structure and layout still reflect the high-quality design and craftsmanship of a recently completed build. This property is being sold as-is, presenting an exceptional chance to rebuild and restore a nearly new home at a significant discount. Whether you choose to renovate and create your dream residence or restore and resell for a potential profit, this is an opportunity rarely seen in such a desirable Indianapolis location. Situated in a welcoming community with convenient access to shopping, dining, and major commuter routes, 7409 Deerberg Drive has all the makings of a beautiful, high-value property once revitalized. Don’t miss this chance to transform a setback into a major success — rebuild, reimagine, and realize the value of this exceptional piece of real estate. Important: No one is permitted to enter the property without first booking a showing through the appropriate scheduling system.

ⓘ 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 3/10 Moderate 7 d/yr ≥101°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,071
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,966
• − Management: −$2,966
• − HOA: −$636
• − Depreciation: −$7,273
• Taxable income: $4,227
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $6,903/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: 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): 15,169
• Household income: $129,345
• Rent vs Own: 4.5% rent · 95.5% own
• Severe rent burden: 78.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 9% Asian 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 4% Lithuanian 4% Italian 3%
• Foreign-born: 7% · Canada, Dominican Republic
• Languages at home: 89% English-only · Other Indo-European 8% Spanish 2% Tagalog/Filipino 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: ▼ -86.96%
• Current HPI: 237.9165
• 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

-1.6% since first listed

5 events — show timeline

• 2026-04-20 Sold (MLS) $246,000 IRMLS
• 2026-04-02 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-02 Pending — IRMLS
• 2026-03-27 Listed $250,000 MIBOR as Distributed by MLS Grid
• 2026-03-27 Listed $250,000 IRMLS

Property tax history

+0.1%/yr

Latest (2025): $10 · +0.1% YoY. Source: county tax records.