6525 Emerald Hill Ct #206 · Indianapolis city (balance), IN 46237

$158,900

2 bd · 2.0 ba · 1,549 sqft · Condo · 304 Days on market

Built 2003 Good condition $103/sqft · 12% below area Est $180k · 12% under $340/mo HOA · 18% of rent

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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 +15.4/30.0
• ARV discount +12.8/15.0
• 1% rule +6.9/10.0
• DSCR +4.7/10.0
• Schools +4.1/10.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Maintenance free living at it's best. Nestled at 6525 Emerald Hill Ct Unit 206 in the heart of Perry Township, this condominium offers an inviting home, ready for you to move in. Imagine starting your day in the spacious kitchen, crafting your favorite breakfast at the kitchen peninsula, before stepping out onto the balcony to enjoy the fresh air. The residence offers two full bathrooms, including one that features a walk in shower. The condominium also features a laundry room, adding to the ease and convenience of daily living, and a deck that provides a space to unwind. Both of the bedrooms include a walk-in closet (and double walk-ins in the Primary Bedroom), providing generous storage.

Key facts

• Laundry room
• Spacious kitchen
• Deck

Tags

• SPACIOUS KITCHEN
• KITCHEN PENINSULA
• WALK IN SHOWER
• LAUNDRY ROOM
• DECK

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $159k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $60 ($716/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.5% 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.
• Perry Township Schools (urban): math 36% / reading 45% proficiency, ranked #138 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mary Bryan Elementary School (math 46% / reading 46%, grade D-, #357 of 994 statewide, top 37%, 912 students, 71% FRL); Southport Middle School (math 22% / reading 40%, grade F, #201 of 330 statewide, top 61%, 1,194 students, 72% FRL); Southport High School (math 25% / reading 53%, grade F, #235 of 369 statewide, top 65%, 2,355 students, 70% FRL) — zoned schools average 71% FRL vs 54% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.8%/yr); 576 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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 304 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.

Recommended offer $139,832 (12.0% below list)

Questions for the listing agent

1. It's been on market 304 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.19% ✓
• Cap rate: 6.74%
• Cash-on-cash: 1.61%
• DSCR: 1.07
• GRM: 7.0

CMA / ARV

• ARV (median comp): $179,940
• List price: $158,900
• Delta: -11.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6509 Emerald Hill Ct #102	0.04mi	2/2.0	1,442 (-7%)	1mo	$185,000	$128	86
5148 Waybridge Ln	0.23mi	2/2.0	1,326 (-14%)	1mo	$200,000	$151	64
5726 Somers Dr	1.34mi	3/1.5 (+1)	1,564 (+1%)	1mo	$262,000	$168	56
5402 Pappas Dr	1.39mi	3/1.5 (+1)	1,484 (-4%)	1mo	$219,000	$148	50
4541 Lois Ln	1.30mi	3/1.5 (+1)	1,405 (-9%)	1mo	$260,000	$185	42
5826 Quail Run Dr	1.24mi	2/2.0	1,163 (-25%)	0mo	$194,750	$167	40
3939 Gray Pond Ct	1.02mi	2/2.0	1,222 (-21%)	1mo	$205,000	$168	39
3423 Harmon Dr	1.29mi	3/2.0 (+1)	1,351 (-13%)	1mo	$275,000	$204	38
6050 Blue Fox Ln	0.75mi	3/2.0 (+1)	1,822 (+18%)	1mo	$355,000	$195	34
4813 Chervil Ct	1.19mi	3/2.5 (+1)	1,872 (+21%)	0mo	$385,000	$206	33
7534 Carolling Way	1.23mi	3/2.5 (+1)	1,907 (+23%)	1mo	$185,000	$97	32
5442 Chisolm Ct	1.27mi	3/1.5 (+1)	1,162 (-25%)	1mo	$205,000	$176	32

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.55×
• Total profit: $-20,209
• Equity at exit: $23,693

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-5,485
• Equity at exit: $13,739

Cash invested: $44,492 (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 46237

• Rents YoY: 3.8%
• Active inventory: 576
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,896 high
• Mortgage (P&I): −$833
• Tax est. 1.5%: −$199 /mo · $2,384/yr
• Insurance: −$66
• HOA: −$340
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $60

Break-even live

Break-even rent $1,820

Max offer price $158,900

Occupancy floor 92%

Sensitivity live

Price	-10% $170	-5% $115	+0% $60	+5% $5	+10% $-50
Rent	-10% $-90	-5% $-15	+0% $60	+5% $135	+10% $209
Rate	-1.0pp $140	-0.5pp $100	base $60	+0.5pp $19	+1.0pp $-23

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: $39,725
• Closing costs: $4,767
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4933 Opal Ridge Ln Indianapolis, IN	2.0	2.0	1124	$1,800	$1.60	112d	1	0.06mi
6438 Marble Ln Indianapolis, IN	3.0	2.0	1800	$3,200	$1.78	37d	1	0.29mi
6810 Valley Ridge Dr Indianapolis, IN	1.0–3.0	1.0–2.0	981	$1,280	$1.30	0d	7	0.45mi
6436 Perry Pines Ct Indianapolis, IN	3.0	2.0	1296	$1,700	$1.31	138d	1	0.72mi
7251 Windsor Lakes Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1103	$1,590	$1.44	2d	25	0.72mi
7213 Sundance Dr Indianapolis, IN	1.0–2.0	1.0–2.0	993	$1,587	$1.60	0d	6	0.75mi
5500 S Emerson Ave Indianapolis, IN	2.0–3.0	2.5	1492	$1,899	$1.27	12d	2	1.03mi
5515 Prairie Dog Dr Indianapolis, IN	3.0	2.0	1056	$1,645	$1.56	10d	1	1.17mi
5405 Helena Ave Indianapolis, IN	3.0	2.0	1902	$2,250	$1.18	0d	1	1.19mi
7925 Carlington Rd Indianapolis, IN	2.0	2.0	1360	$1,962	$1.44	0d	9	1.20mi
5505 Straw Hat Dr Indianapolis, IN	3.0	1.0	1602	$1,700	$1.06	55d	1	1.20mi
5505 Straw Hat Dr Indianapolis, IN	3.0	1.0	1602	$1,700	$1.06	10d	1	1.20mi
5534 Cherry Birch Dr Indianapolis, IN	3.0	2.5	1912	$1,806	$0.94	10d	1	1.25mi
5439 Durango Ct Indianapolis, IN	3.0	1.5	1348	$1,481	$1.10	105d	1	1.32mi

Property features AI

Finance

• Other: Covenants & restrictions applyCoin laundry availableClubhouse and community pool1 common wall
• HOA & community: Has HOAMonthly association feeHOA covers clubhouse, entrance/common areas, insurance, laundry connection in unit, lawn care, grounds maintenance, structure maintenance, management, and snow removalCommunity amenities include clubhouse and pool

Exterior

• Parking: Assigned parkingAssigned outside parking
• Utilities: Public waterMunicipal sewer connected100 Amp electric serviceCable connectedSolid waste service available
• Home design: Attached condominium in a horizontal regimeOne story (upper-level unit entry on upper level)Building common entryLow-maintenance lifestyle
• Construction: Brick and cedar constructionSlab foundation
• Exterior features: BalconyExterior lightingSidewalksMature treesWooded setting

Interior

• Kitchen: DishwasherDisposalMicrowave with hoodElectric ovenRefrigerator
• Bedrooms: 2 bedrooms on the main levelPrimary bedroom with walk-in closet
• Bathrooms: 2 full bathroomsPrimary bathroom with tub and shower
• Heating & cooling: Forced air heatingCentral air conditioning
• Interior features: StorageWalk-in closet(s)Woodwork paintedLaundry in unitUpper-level unit (located on second floor)
• Laundry & utility: WasherDryerWater heater

HOA detail $340/mo · $4,080/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-11-08
   days on market $158,900 Active 304 DOM
2. 2026-11-07
   days on market $158,900 Active 303 DOM
3. 2026-11-06
   days on market $158,900 Active 302 DOM
4. 2026-11-05
   days on market $158,900 Active 301 DOM
5. 2026-11-04
   days on market $158,900 Active 300 DOM
6. 2026-11-02
   days on market $158,900 Active 298 DOM
7. 2026-11-01
   days on market $158,900 Active 297 DOM
8. 2026-10-31
   days on market $158,900 Active 296 DOM
9. 2026-10-30
   days on market $158,900 Active 295 DOM
10. 2026-10-29
    days on market $158,900 Active 294 DOM
11. 2026-10-28
    days on market $158,900 Active 293 DOM
12. 2026-10-27
    days on market $158,900 Active 292 DOM
13. 2026-10-26
    days on market $158,900 Active 291 DOM
14. 2026-10-26
    days on market $158,900 Active 290 DOM
15. 2026-10-24
    days on market $158,900 Active 289 DOM
16. 2026-10-23
    days on market $158,900 Active 288 DOM
17. 2026-10-22
    days on market $158,900 Active 287 DOM
18. 2026-10-21
    days on market $158,900 Active 286 DOM
19. 2026-10-20
    days on market $158,900 Active 285 DOM
20. 2026-10-19
    days on market $158,900 Active 284 DOM
21. 2026-10-18
    days on market $158,900 Active 283 DOM
22. 2026-10-17
    days on market $158,900 Active 282 DOM
23. 2026-10-16
    days on market $158,900 Active 281 DOM
24. 2026-10-15
    days on market $158,900 Active 280 DOM
25. 2026-10-14
    days on market $158,900 Active 279 DOM
26. 2026-10-13
    days on market $158,900 Active 278 DOM
27. 2026-10-12
    days on market $158,900 Active 277 DOM
28. 2026-10-11
    days on market $158,900 Active 276 DOM
29. 2026-10-10
    days on market $158,900 Active 275 DOM
30. 2026-10-09
    days on market $158,900 Active 274 DOM
31. 2026-10-08
    days on market $158,900 Active 273 DOM
32. 2026-10-07
    days on market $158,900 Active 272 DOM
33. 2026-10-06
    days on market $158,900 Active 271 DOM
34. 2026-10-05
    days on market $158,900 Active 270 DOM
35. 2026-10-04
    days on market $158,900 Active 269 DOM
36. 2026-10-04
    days on market $158,900 Active 268 DOM
37. 2026-10-02
    days on market $158,900 Active 267 DOM
38. 2026-10-01
    days on market $158,900 Active 266 DOM
39. 2026-09-30
    days on market $158,900 Active 265 DOM
40. 2026-09-29
    days on market $158,900 Active 264 DOM
41. 2026-09-28
    days on market $158,900 Active 263 DOM
42. 2026-09-27
    days on market $158,900 Active 262 DOM
43. 2026-09-25
    days on market $158,900 Active 260 DOM
44. 2026-09-24
    days on market $158,900 Active 259 DOM
45. 2026-09-23
    days on market $158,900 Active 258 DOM
46. 2026-09-22
    days on market $158,900 Active 257 DOM
47. 2026-09-21
    days on market $158,900 Active 256 DOM
48. 2026-09-20
    days on market $158,900 Active 255 DOM
49. 2026-09-19
    days on market $158,900 Active 254 DOM
50. 2026-09-18
    days on market $158,900 Active 253 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,752
• − Mortgage interest: −$8,901
• − Property taxes: −$2,384
• − Insurance: −$794
• − Repairs & maintenance: −$1,820
• − Management: −$1,820
• − HOA: −$4,080
• − Depreciation: −$4,623
• Taxable loss: −$1,670
• Est. tax savings @ 24.0%: +$401
• After-tax cash flow: $1,117/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 · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $7,745–$23,235 screening

This property is in good condition with a good condition score of 75. It has a good roof, exterior siding, and interior walls. The property has a good HVAC system and is in good condition overall. The property has a good curb appeal and is ready for a new owner.

Value-add opportunities

• Both Paint the exterior siding — Painting the exterior siding can improve the curb appeal and increase the property's value. ↑
• Both Replace the carpet in the living areas — Replacing the carpet can improve the living space and increase the property's value. ↑
• Both Clean the HVAC system — A clean HVAC system can improve air quality and increase the property's value. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 41/100

Zoned Schools

Elementary Mary Bryan Elementary School D- IN #357/994 Nat'l #15,585/41,679 Middle Southport 6th Grade Academy F IN #136/330 Nat'l #6,571/14,009 High Southport High School F IN #235/369 Nat'l #8,724/17,239

Schools (NCES district)

• District: Perry Township Schools
• NCES district ID: 1808820
• Math proficiency: 36% ▼ -13.00%
• Reading proficiency: 45% ▼ -6.00%
• Median HH income: $47,170
• Composite: 34.61/100
• National rank: #5153
• State rank: #138 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 · 1,025,572 people
• City population: 881,119
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 43,473
• Household income: $79,078
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Asian 13% Hispanic / Latino 7% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 6%
• Languages at home: 84% English-only · Other Asian/Pacific 5% Spanish 5% Other Indo-European 4%

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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: ▼ -180.33%
• Current HPI: 238.9661
• Rent YoY: ▲ 3.78%
• Metro: Indianapolis-Carmel-Anderson, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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

Property features AI

Finance

• Other: Covenants & restrictions applyCoin laundry availableClubhouse and community pool1 common wall
• HOA & community: Has HOAMonthly association feeHOA covers clubhouse, entrance/common areas, insurance, laundry connection in unit, lawn care, grounds maintenance, structure maintenance, management, and snow removalCommunity amenities include clubhouse and pool

Exterior

• Parking: Assigned parkingAssigned outside parking
• Utilities: Public waterMunicipal sewer connected100 Amp electric serviceCable connectedSolid waste service available
• Home design: Attached condominium in a horizontal regimeOne story (upper-level unit entry on upper level)Building common entryLow-maintenance lifestyle
• Construction: Brick and cedar constructionSlab foundation
• Exterior features: BalconyExterior lightingSidewalksMature treesWooded setting

Interior

• Kitchen: DishwasherDisposalMicrowave with hoodElectric ovenRefrigerator
• Bedrooms: 2 bedrooms on the main levelPrimary bedroom with walk-in closet
• Bathrooms: 2 full bathroomsPrimary bathroom with tub and shower
• Heating & cooling: Forced air heatingCentral air conditioning
• Interior features: StorageWalk-in closet(s)Woodwork paintedLaundry in unitUpper-level unit (located on second floor)
• Laundry & utility: WasherDryerWater heater

Price history

1 event — show timeline

• 2026-01-08 Listed $174,900 MIBOR as Distributed by MLS Grid