5643 Twin Lakes Ct · Indianapolis city (balance), IN 46237

$175,000

2 bd · 2.0 ba · 1,103 sqft · Condo public records · 1 Days on market

Built 1977 $285/mo HOA · 17% 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 +11.3/30.0
• ARV discount +7.5/15.0
• 1% rule +4.6/10.0
• Schools +4.0/10.0
• Rent growth +3.4/5.0
• DSCR +3.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this completely updated condo with a huge master suite on the 2nd floor. This is truly ready for you to move right in. The layout is perfect, opening up to the living room with a cozy wood burning fire place, open concept dining room, 2nd bedroom on the main, modern kitchen, and a sunroom for you to sit outside any enjoy the view. All appliances stay. Brand new roof and siding. You have your own attached garage and the privacy of being on a court. You are sure to love the location as you are minutes away from 65 and 465.

Key facts

• Heated sunroom
• Spacious backyard
• Wooded cul-de-sac

Tags

• WOODED CUL-DE-SAC
• TWO-STORY STONE CHIMNEY
• HEATED SUNROOM
• CURVED-GLASS ADDITION
• SPACIOUS BACKYARD
• STONE FIRE PIT AREA

Property features AI

Finance

• HOA & community: HOA with monthly fee (includes clubhouse, lawn care, maintenance of structure, snow removal, tennis courts and entrance common areas); Community amenities include pool and clubhouse; Mandatory fees and planned unit development; Low-maintenance lifestyle; no one lives above

Exterior

• Parking: Attached garage (1 car) with service door
• Security: Smoke alarm
• Utilities: Public water; Municipal sewer connected; Electricity connected (100 amp service); Cable available
• Home design: Condominium (vertical type) with private building entry at ground level; Attached property; Two levels; Faces north; Updated/remodeled condition
• Construction: Built with wood and stone exterior; Slab foundation
• Exterior features: Covered porch; Patio/porch; Tennis courts in the community; Property on a cul-de-sac; Wooded lot

Interior

• Kitchen: Electric oven; Microwave with hood; Refrigerator; Dishwasher; Pantry
• Bedrooms: Two bedrooms total — one on the main level and one on the upper level (upper bedroom approx. 17x12; main bedroom approx. 10x13)
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms — one on the main level and one on the upper level; Primary bath is a suite with a tub and shower
• Heating & cooling: Forced air heating (electric); Central air conditioning
• Interior features: High ceilings; Hardwood floors; Pantry; Smart thermostat; Stained/painted woodwork; Living room is two-story; One wood-burning fireplace in the living room
• Laundry & utility: Washer and dryer included; Laundry on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-64 ($-770/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (4.2% below list).
• Recommended offer: $164k (6.5% below list) — sets the bar for cash-flow.
• Cap rate 5.9% 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.
• Zoned schools: Arlington Elementary School (math 47% / reading 37%, grade F, #434 of 994 statewide, top 48%, 484 students, 75% 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 60% FRL vs 29% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.8%/yr); 261 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $100k; list at $175k implies a 75% gain — meaningful room to come down on a strong offer.

Recommended offer $163,663 (6.5% 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. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.96% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.57%
• DSCR: 0.93
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.37×
• Total profit: $-30,984
• Equity at exit: $26,093

10-year hold

• IRR: -8.2%
• Equity multiple: 0.47×
• Total profit: $-26,166
• Equity at exit: $15,131

Cash invested: $49,000 (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 46237

• Rents YoY: 3.8%
• Active inventory: 261
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,676 high
• Mortgage (P&I): −$918
• Tax from tax record: −$113 /mo · $1,354/yr
• Insurance: −$73
• HOA: −$285
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-64

Break-even live

Break-even rent $1,758

Max offer price $163,663

Occupancy floor 99%

Sensitivity live

Price	-10% $35	-5% $-15	+0% $-64	+5% $-114	+10% $-163
Rent	-10% $-197	-5% $-130	+0% $-64	+5% $2	+10% $68
Rate	-1.0pp $24	-0.5pp $-20	base $-64	+0.5pp $-110	+1.0pp $-156

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5844 Timber Lake Blvd Indianapolis, IN	3.0	2.0	1250	$1,856	$1.48	2d	1	0.64mi
5140 Emerson Village Pl Indianapolis, IN	1.0–2.0	1.0–2.0	805	$1,360	$1.69	2d	16	0.78mi
5717 Hacienda Ct Indianapolis, IN	3.0	1.5	1322	$1,631	$1.23	16d	1	0.79mi
5334 Padre Ln Indianapolis, IN	3.0	1.5	1016	$1,695	$1.67	15d	1	0.81mi
5723 Ensenada Ave Indianapolis, IN	3.0	2.0	1168	$1,775	$1.52	2d	1	0.84mi
5309 Waterton Lakes Dr Indianapolis, IN	3.0	2.0	1390	$1,865	$1.34	8d	1	0.88mi
4901 S Emerson Ave Indianapolis, IN	1.0–4.0	1.0–2.0	998	$1,417	$1.42	2d	10	1.15mi
7251 Windsor Lakes Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1103	$1,540	$1.40	2d	36	1.20mi

HOA detail condo

• Monthly dues: $285 · $3,420/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $175,000 Active 1 DOM

ⓘ 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: $1,354 · $113/mo
• Projected year-2 tax: $1,421 · $118/mo
• Expected delta: +$67/yr (+$6/mo · 4.9%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,116
• − Mortgage interest: −$9,803
• − Property taxes: −$1,354
• − Insurance: −$875
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − HOA: −$3,420
• − Depreciation: −$5,091
• Taxable loss: −$3,645
• Est. tax savings @ 24.0%: +$875
• After-tax cash flow: $105/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

+75.0% since first listed

4 events — show timeline

• 2026-06-18 Listed $175,000 MIBOR as Distributed by MLS Grid
• 2018-11-19 Sold (MLS) $100,000 MIBOR as Distributed by MLS Grid
• 2018-10-29 Pending — MIBOR as Distributed by MLS Grid
• 2018-10-18 Listed $100,000 MIBOR as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2025): $1,354 · -9.2% YoY. Source: county tax records.