7402 5 Points Rd · Indianapolis city (balance), IN 46259

$262,000

3 bd · 1.0 ba · 1,275 sqft · SingleFamily public records · 19 Days on market

Built 1988 10,001 sqft lot Est $240k · 9% over ↓ 1% since listing

---

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 +19.1/30.0
• DSCR +6.0/10.0
• 1% rule +4.5/10.0
• Schools +4.0/10.0
• ARV discount +3.3/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into this completely remodeled 3-bedroom, 2-bath ranch where modern style meets everyday comfort. This move-in-ready home features brand new carpet and fresh paint throughout, complemented by stunning granite countertops and beautifully tiled bathrooms that add a touch of luxury. Enjoy the convenience of all-new appliances, updated hardware, sleek faucets, and stylish ceiling fans in every room. Outside, you'll find a fully fenced backyard offering privacy and space to relax, along with an oversized back patio that's perfect for summer entertaining, grilling, or simply unwinding. With every detail thoughtfully updated, this home has been fully modernized from top to bottom. Located in

Key facts

• Fresh paint
• Remodeled ranch
• All new appliances

Tags

• REMODELED RANCH
• BRAND NEW CARPET
• FRESH PAINT
• GRANITE COUNTERTOPS
• TILED BATHROOMS
• ALL NEW APPLIANCES

Property features AI

Exterior

• Parking: Attached 2-car garage with finished interior and garage door opener
• Utilities: Public water; Municipal sewer connected; Electricity connected; Natural gas connected
• Home design: Single-family residence; Updated/remodeled condition; One level
• Construction: Brick construction; Slab foundation
• Exterior features: Covered patio; Patio; Fenced yard

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Gas oven; Refrigerator
• Bedrooms: Primary bedroom with walk-in closet; Three bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic access with pull-down stairs; Eat-in kitchen; Pantry; Walk-in closet(s); Utility room; Wood-burning fireplace in family room (1 fireplace)
• Laundry & utility: Dedicated laundry room; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $262k.

Deal economics

• At list price, monthly cash flow is $277 ($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 $248k (5.3% below list).
• Recommended offer: $248k (5.3% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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.
• Market conditions: 159 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($258k) is reasonable based on typical stale-listing flexibility.

Recommended offer $248,130 (5.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 0.95% ✗
• Cap rate: 7.56%
• Cash-on-cash: 4.53%
• DSCR: 1.20
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $239,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7402 5 Points Rd	0.00mi	3/2.0	1,275 (0%)	1mo	$255,000	$200	95
6820 Troon Way	0.14mi	3/2.0	1,297 (+2%)	2mo	$235,000	$181	85
7819 Inverness Dr	0.46mi	3/1.5	1,224 (-4%)	2mo	$235,000	$192	68
6932 Turnberry Way	0.04mi	3/2.0	1,460 (+14%)	4mo	$249,500	$171	66
7740 5 Points Rd	0.39mi	3/2.0	1,284 (+1%)	13mo	$240,000	$187	66
7628 Combs Rd	0.56mi	3/2.0	1,286 (+1%)	8mo	$255,000	$198	62
7140 Combs Rd	0.57mi	3/2.0	1,320 (+4%)	8mo	$227,000	$172	57
7640 Gordon Way	0.34mi	3/2.0	1,440 (+13%)	4mo	$266,500	$185	56
7807 Inverness Dr	0.44mi	4/2.0 (+1)	1,236 (-3%)	13mo	$250,000	$202	54
7437 Lorene Ct	0.55mi	3/2.0	1,200 (-6%)	12mo	$260,000	$217	51
7715 Combs Rd	0.57mi	3/2.0	1,380 (+8%)	7mo	$199,000	$144	50
7528 Gunyon Dr	0.70mi	3/2.0	1,408 (+10%)	0mo	$265,000	$188	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-24,856
• Equity at exit: $39,065

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $904
• Equity at exit: $22,653

Cash invested: $73,360 (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: 8.8×

Monthly cashflow live

• Estimated rent: $2,481 high
• Mortgage (P&I): −$1,374
• Tax from tax record: −$200 /mo · $2,402/yr
• Insurance: −$109
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $277

Break-even live

Break-even rent $2,131

Max offer price $262,000

Occupancy floor 84%

Sensitivity live

Price	-10% $425	-5% $351	+0% $277	+5% $203	+10% $129
Rent	-10% $81	-5% $179	+0% $277	+5% $375	+10% $473
Rate	-1.0pp $409	-0.5pp $344	base $277	+0.5pp $209	+1.0pp $140

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: $65,500
• Closing costs: $7,860
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6210 Carrie Cir Indianapolis, IN	3.0	2.0	1226	$1,890	$1.54	4d	1	0.76mi
6404 Amarillo Way Indianapolis, IN	3.0	2.0	1494	$1,845	$1.23	4d	1	0.89mi
8107 Southern Trails Pl Indianapolis, IN	4.0	2.0	1746	$2,000	$1.15	5d	1	0.90mi
7825 Jaclyn Dr Indianapolis, IN	3.0	2.0	1244	$1,875	$1.51	4d	1	0.92mi
7703 Janel Ct Indianapolis, IN	4.0	2.5	1824	$4,950	$2.71	24d	1	0.95mi

Listing history 3 events

1. 2026-04-27
   status Pending
2. 2026-04-22
   price $262,000
3. 2026-04-08
   listed $265,000 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: $2,402 · $200/mo
• Projected year-2 tax: $2,402 · $200/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,776
• − Mortgage interest: −$14,676
• − Property taxes: −$2,402
• − Insurance: −$1,310
• − Repairs & maintenance: −$2,382
• − Management: −$2,382
• − Depreciation: −$7,622
• Taxable loss: −$998
• Est. tax savings @ 24.0%: +$240
• After-tax cash flow: $3,563/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

-1.1% since first listed

3 events — show timeline

• 2026-04-27 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-22 Price Changed $262,000 MIBOR as Distributed by MLS Grid
• 2026-04-08 Listed $265,000 MIBOR as Distributed by MLS Grid

Property tax history

+8.0%/yr

Latest (2025): $2,402 · +2.1% YoY. Source: county tax records.