7525 Turnberry Ct · Indianapolis city (balance), IN 46237

$245,000

3 bd · 1.5 ba · 1,614 sqft · SingleFamily public records · 2 Days on market

Built 1978 10,001 sqft lot Est $289k · 15% under

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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 +18.9/30.0
• ARV discount +14.3/15.0
• DSCR +6.0/10.0
• 1% rule +4.3/10.0
• Schools +4.0/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful three bedroom home on large lot. Mature trees, large deck with built-in table. Sunny kitchen with large breakfast nook. Seperate living and family rooms. Woodburning fireplace. Great location in Franklin Township!

Key facts

• Attached garage
• Backyard deck
• Fresh landscaping

Tags

• FRESH LANDSCAPING
• BACKYARD DECK
• WATERPROOFED BASEMENT
• ATTACHED GARAGE
• FUNCTIONAL FLOOR PLAN
• EASY ACCESS TO AMENITIES

Property features AI

Exterior

• Parking: Attached 2-car garage (484 garage sq ft)
• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; Multi/split and one-story configuration; Faces west
• Construction: Built with vinyl and brick exterior; Block foundation
• Exterior features: Deck; Fire pit; Storage shed; Fenced yard (full privacy fence); Cul-de-sac lot; Sidewalks; Mature trees; Has a view

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric oven; Range hood; Refrigerator
• Bedrooms: 3 bedrooms (main level); Primary bedroom with walk-in closet
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Walk-in closet(s); Finished basement; Laundry located in garage; One fireplace (wood-burning, masonry) serving living room and basement
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $252 ($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 $229k (6.6% below list).
• Recommended offer: $229k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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: Mary Adams Elementary School (math 67% / reading 62%, grade B, #78 of 994 statewide, top 9%, 519 students, 49% 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 47% FRL vs 29% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 60% at this address vs 44% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Franklin Township Community School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.8%/yr); 270 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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).
• This rent runs 35% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Marion County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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.
• Current owner paid $80k; list at $245k implies a 206% gain — meaningful room to come down on a strong offer.

Recommended offer $228,896 (6.6% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.93% ✗
• Cap rate: 7.53%
• Cash-on-cash: 4.41%
• DSCR: 1.20
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $288,906
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7525 Turnberry Ct	0.00mi	3/2.5	1,614 (0%)	0mo	$247,000	$153	96
7545 Turnberry Ct	0.06mi	3/2.0	1,584 (-2%)	2mo	$285,000	$180	91
7416 Troon Dr	0.29mi	4/2.0 (+1)	1,680 (+4%)	0mo	$280,000	$167	73
6820 Inverness Way	0.36mi	4/2.0 (+1)	1,604 (-1%)	3mo	$260,000	$162	73
7640 Gordon Way	0.16mi	3/2.0	1,440 (-11%)	4mo	$266,500	$185	70
6623 Southern Ridge Dr	0.64mi	3/2.0	1,654 (+2%)	1mo	$289,900	$175	63
8108 Garden Ridge Rd	0.59mi	4/2.0 (+1)	1,628 (+1%)	2mo	$260,000	$160	62
6324 Muirfield Way	0.53mi	3/2.0	1,499 (-7%)	2mo	$260,000	$173	60
7528 Gunyon Dr	0.52mi	3/2.0	1,408 (-13%)	1mo	$265,000	$188	52
7301 Muirfield Pl	0.69mi	3/2.0	1,420 (-12%)	0mo	$280,500	$198	46
8036 Southern Trails Pl	0.68mi	3/2.0	1,424 (-12%)	3mo	$255,000	$179	45
8042 Southern Trails Pl	0.69mi	3/2.0	1,410 (-13%)	2mo	$290,000	$206	43

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: -8.6%
• Equity multiple: 0.68×
• Total profit: $-21,866
• Equity at exit: $36,530

10-year hold

• IRR: 1.8%
• Equity multiple: 1.13×
• Total profit: $9,002
• Equity at exit: $21,183

Cash invested: $68,600 (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: 270
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,289 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$169 /mo · $2,028/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $252

Break-even live

Break-even rent $1,970

Max offer price $245,000

Occupancy floor 84%

Sensitivity live

Price	-10% $391	-5% $322	+0% $252	+5% $183	+10% $114
Rent	-10% $72	-5% $162	+0% $252	+5% $343	+10% $433
Rate	-1.0pp $376	-0.5pp $315	base $252	+0.5pp $189	+1.0pp $124

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6210 Carrie Cir Indianapolis, IN	3.0	2.0	1226	$1,890	$1.54	6d	1	0.61mi
6404 Amarillo Way Indianapolis, IN	3.0	2.0	1494	$1,845	$1.23	6d	1	0.68mi
8107 Southern Trails Pl Indianapolis, IN	4.0	2.0	1746	$2,000	$1.15	6d	1	0.70mi
7825 Jaclyn Dr Indianapolis, IN	3.0	2.0	1244	$1,875	$1.51	6d	1	0.72mi
7703 Janel Ct Indianapolis, IN	4.0	2.5	1824	$4,950	$2.71	25d	1	0.76mi
8130 Amble Way Indianapolis, IN	3.0	2.5	2144	$1,955	$0.91	6d	1	0.82mi
7925 Carlington Rd Indianapolis, IN	2.0	2.0	1455	$2,079	$1.43	0d	17	1.39mi
5945 Arlo Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1092	$2,000	$1.83	0d	11	1.48mi
7251 Windsor Lakes Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1103	$1,800	$1.63	3d	36	1.49mi

Listing history 8 events

1. 2026-05-15
   status Pending
2. 2026-05-13
   listed $245,000 Active
3. 2015-05-27
   soldstatus $80,000 Sold 224-char remark

   Show marketing remark (224 chars)

   Wonderful three bedroom home on large lot. Mature trees, large deck with built-in table. Sunny kitchen with large breakfast nook. Seperate living and family rooms. Woodburning fireplace. Great location in Franklin Township!

4. 2015-03-16
   status Pending 224-char remark

   Show marketing remark (224 chars)

   Wonderful three bedroom home on large lot. Mature trees, large deck with built-in table. Sunny kitchen with large breakfast nook. Seperate living and family rooms. Woodburning fireplace. Great location in Franklin Township!

5. 2015-03-11
   historical Contingent - Backup Pending Contracts 224-char remark

   Show marketing remark (224 chars)

   Wonderful three bedroom home on large lot. Mature trees, large deck with built-in table. Sunny kitchen with large breakfast nook. Seperate living and family rooms. Woodburning fireplace. Great location in Franklin Township!

6. 2015-02-11
   listed $79,900 Active 224-char remark

   Show marketing remark (224 chars)

   Wonderful three bedroom home on large lot. Mature trees, large deck with built-in table. Sunny kitchen with large breakfast nook. Seperate living and family rooms. Woodburning fireplace. Great location in Franklin Township!

7. 2005-12-05
   soldstatus $117,000 489-char remark

   Show marketing remark (489 chars)

   COME AND SEE FRANKLIN TOWNSHIP'S NICEST 2-STORY IN MUIRFIELD EXPERIENCE SUMMERTIME FUN IN THE METICULOUSLY KEPT BACKYARD & POOL. ENJOYING SUMMER PLEASURES CAN BE MADE EASIER W/A HUGE DECK W/CARPETING, WET SLIDE OR SWING ING ON THE PLAYSET. HOME FEATURES 3 LRG BDRMS/2.5 BATHS. MSTR BDRM HAS 2 WALK-IN CLOSETS. MANY UPDATES INCLUDE: NEWER CARPET, VINYL THERMOPANE WINDOWS, & WOOD LAMINATE FLOORING. KITCHEN IS VERY SPACIOUS & NEUTRAL. FAM RM IS VERY LRG & HAS A BRICK FRPLC.

8. 2005-09-20
   listed $122,900 489-char remark

   Show marketing remark (489 chars)

   COME AND SEE FRANKLIN TOWNSHIP'S NICEST 2-STORY IN MUIRFIELD EXPERIENCE SUMMERTIME FUN IN THE METICULOUSLY KEPT BACKYARD & POOL. ENJOYING SUMMER PLEASURES CAN BE MADE EASIER W/A HUGE DECK W/CARPETING, WET SLIDE OR SWING ING ON THE PLAYSET. HOME FEATURES 3 LRG BDRMS/2.5 BATHS. MSTR BDRM HAS 2 WALK-IN CLOSETS. MANY UPDATES INCLUDE: NEWER CARPET, VINYL THERMOPANE WINDOWS, & WOOD LAMINATE FLOORING. KITCHEN IS VERY SPACIOUS & NEUTRAL. FAM RM IS VERY LRG & HAS A BRICK FRPLC.

ⓘ 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: $2,028 · $169/mo
• Projected year-2 tax: $2,055 · $171/mo
• Expected delta: +$27/yr (+$2/mo · 1.3%)

ⓘ 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: $27,468
• − Mortgage interest: −$13,724
• − Property taxes: −$2,028
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,197
• − Management: −$2,197
• − Depreciation: −$7,127
• Taxable loss: −$1,032
• Est. tax savings @ 24.0%: +$248
• After-tax cash flow: $3,276/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): 43,473
• Household income: $79,078
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1245.0

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 (71%)
• Race & ethnicity: White 71% Asian 13% Hispanic / Latino 7% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 12% · Canada, Philippines
• Languages at home: 84% English-only · Other Asian/Pacific 5% Spanish 5% Other Indo-European 4%

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

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

+99.3% since first listed

8 events — show timeline

• 2026-05-15 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-13 Listed $245,000 MIBOR as Distributed by MLS Grid
• 2015-05-27 Sold (MLS) $80,000 MIBOR as Distributed by MLS Grid
• 2015-03-16 Pending — MIBOR as Distributed by MLS Grid
• 2015-03-11 Contingent — MIBOR as Distributed by MLS Grid
• 2015-02-11 Listed $79,900 MIBOR as Distributed by MLS Grid
• 2005-12-05 Sold (MLS) $117,000 MIBOR as Distributed by MLS Grid
• 2005-09-20 Listed $122,900 MIBOR as Distributed by MLS Grid

Property tax history

+0.5%/yr

Latest (2025): $2,028 · +0.5% YoY. Source: county tax records.