942 Brookstone Dr · Franklin, IN 46131

$225,000

3 bd · 2.0 ba · 1,223 sqft · SingleFamily public records · 38 Days on market

Built 2008 4,225 sqft lot $184/sqft · 11% below area Est $253k · 11% under

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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).

• ARV discount +12.5/15.0
• Cash flow +10.2/30.0
• Rent growth +3.7/5.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this 3 bedroom, 2 bath ranch-style home in the highly sought after city of Franklin! Your new home offers a spacious great room, laminate flooring and an attached 2-car garage. Enjoy the access to the community pool, with none of the upkeep a pool requires. Hit the links, as this property is across the street from The Legends Golf Club. Take the short drive to downtown Franklin and enjoy the multitude of amenities the city has to offer or hop right on I-65 and get anywhere expediently. The clubhouse has even been converted into a fitness center to boot!

Key facts

• Laminate flooring
• Kitchen appliances
• Natural sunlight

Tags

• PROGRAMMABLE THERMOSTAT
• LAMINATE FLOORING
• KITCHEN APPLIANCES
• NATURAL SUNLIGHT
• OPEN FLOW
• WALK IN PANTRY

Property features AI

Exterior

• Parking: Attached garage (1-car, approx. 380 sq ft)
• Utilities: Public water; Municipal sewer connected; Municipal solid waste service
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Slab foundation
• Exterior features: Lot smaller than 1/4 acre (approx. 0.1 acre)

Interior

• Kitchen: Dishwasher; Electric oven; Range hood; Refrigerator; Gas water heater
• Bedrooms: Three bedrooms on the main level; Primary bedroom with walk-in closet
• Bathrooms: Two full bathrooms; Primary bathroom with tub and shower
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Smart thermostat
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-126 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (9.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (26.2% below list).
• Recommended offer: $166k (26.2% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.0% in Franklin — 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 65/100 on livability (#351 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Franklin Community School Corporation (suburban): math 36% / reading 44% proficiency, ranked #133 of 301 in IN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Needham Elementary School (math 42% / reading 32%, grade F, #550 of 994 statewide, top 57%, 326 students, 49% FRL); Franklin Community Middle School (math 25% / reading 42%, grade F, #176 of 330 statewide, top 54%, 759 students, 48% FRL); Franklin Community High School (math 29% / reading 69%, grade D, #136 of 369 statewide, top 37%, 1,610 students, 41% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 282 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,133 units permitted in Johnson County in 2024 (0 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 $7k of value loss. Plan a longer hold.
• Johnson County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 17y 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.

Recommended offer $166,126 (26.2% 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. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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 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: 0.74% ✗
• Cap rate: 5.62%
• Cash-on-cash: -2.40%
• DSCR: 0.89
• GRM: 11.3

CMA / ARV

• ARV (median comp): $253,222
• List price: $225,000
• Delta: -11.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2080 Bridlewood Dr	0.13mi	3/2.0	1,264 (+3%)	11mo	$245,000	$194	79
2253 Bridlewood Dr	0.41mi	3/2.0	1,192 (-2%)	10mo	$239,000	$201	68
1980 Bridlewood Dr	0.11mi	3/2.0	1,370 (+12%)	11mo	$252,000	$184	66
2425 Bristol Dr	0.66mi	3/2.0	1,370 (+12%)	1mo	$251,500	$184	48
997 Yandes St	0.64mi	2/1.0 (-1)	1,200 (-2%)	12mo	$234,000	$195	48
2462 Cedarmill Dr	0.72mi	3/2.0	1,204 (-2%)	22mo	$225,000	$187	46
651 Hamilton Ave	0.69mi	2/1.0 (-1)	1,116 (-9%)	5mo	$165,000	$148	40
2432 Bridlewood Dr	0.68mi	3/2.0	1,370 (+12%)	11mo	$247,000	$180	39
2477 Bristol Dr	0.73mi	3/2.0	1,370 (+12%)	10mo	$260,000	$190	37
874 Glendale Dr	0.74mi	3/2.0	1,344 (+10%)	24mo	$200,000	$149	29

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 · 4.68% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.34×
• Total profit: $-41,680
• Equity at exit: $33,548

10-year hold

• IRR: -8.3%
• Equity multiple: 0.45×
• Total profit: $-34,697
• Equity at exit: $19,454

Cash invested: $63,000 (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 46131

• Home prices YoY: -27.8%
• Rents YoY: 4.7%
• Active inventory: 282
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,661 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$165 /mo · $1,977/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-126

Break-even live

Break-even rent $1,821

Max offer price $202,731

Occupancy floor —

Sensitivity live

Price	-10% $1	-5% $-62	+0% $-126	+5% $-190	+10% $-253
Rent	-10% $-257	-5% $-192	+0% $-126	+5% $-60	+10% $5
Rate	-1.0pp $-13	-0.5pp $-69	base $-126	+0.5pp $-184	+1.0pp $-244

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7505 Founders Way Franklin, IN	1.0–3.0	1.0–2.0	1045	$2,038	$1.95	0d	16	0.73mi
401 N Main St Unit 4B Franklin, IN	2.0	1.0	900	$1,350	$1.50	9d	1	1.15mi
401 N Main St Unit 6A Franklin, IN	2.0	1.0	900	$650	$0.72	25d	1	1.15mi
399 N Main St Unit 2 Franklin, IN	2.0	2.0	1177	$1,150	$0.98	25d	1	1.17mi
399 N Main St Unit 1 Franklin, IN	2.0	2.0	1177	$1,150	$0.98	45d	1	1.17mi
1600 Traditions Ct Franklin, IN	2.0–4.0	2.0	1190	$1,692	$1.42	0d	5	1.17mi
1541 Brookfield Cir Franklin, IN	2.0	1.5	1297	$1,595	$1.23	3d	1	1.22mi
278 Walnut St Unit 6 Franklin, IN	2.0	1.0	800	$1,300	$1.62	45d	1	1.38mi
278 Walnut St Unit 7 Franklin, IN	2.0	1.0	800	$1,300	$1.62	0d	1	1.38mi

Listing history 33 events

1. 2026-06-21
   days on market $225,000 Active 38 DOM
2. 2026-06-18
   price $225,000 Active 35 DOM
3. 2026-06-18
   days on market $235,000 Active 35 DOM
4. 2026-06-17
   days on market $235,000 Active 34 DOM
5. 2026-06-16
   days on market $235,000 Active 33 DOM
6. 2026-06-15
   days on market $235,000 Active 32 DOM
7. 2026-06-13
   days on market $235,000 Active 30 DOM
8. 2026-06-13
   days on market $235,000 Active 29 DOM
9. 2026-06-09
   days on market $235,000 Active 26 DOM
10. 2026-06-08
    days on market $235,000 Active 25 DOM
11. 2026-06-07
    days on market $235,000 Active 24 DOM
12. 2026-06-03
    days on market $235,000 Active 20 DOM
13. 2026-06-02
    days on market $235,000 Active 19 DOM
14. 2026-06-01
    days on market $235,000 Active 18 DOM
15. 2026-05-31
    days on market $235,000 Active 17 DOM
16. 2026-05-13
    listed $235,000 Active 748-char remark
17. 2023-04-27
    soldstatus $202,900 Closed 574-char remark

    Show marketing remark (574 chars)

    Come check out this 3 bedroom, 2 bath ranch-style home in the highly sought after city of Franklin! Your new home offers a spacious great room, laminate flooring and an attached 2-car garage. Enjoy the access to the community pool, with none of the upkeep a pool requires. Hit the links, as this property is across the street from The Legends Golf Club. Take the short drive to downtown Franklin and enjoy the multitude of amenities the city has to offer or hop right on I-65 and get anywhere expediently. The clubhouse has even been converted into a fitness center to boot!

18. 2023-03-07
    status Pending 574-char remark

    Show marketing remark (574 chars)

    Come check out this 3 bedroom, 2 bath ranch-style home in the highly sought after city of Franklin! Your new home offers a spacious great room, laminate flooring and an attached 2-car garage. Enjoy the access to the community pool, with none of the upkeep a pool requires. Hit the links, as this property is across the street from The Legends Golf Club. Take the short drive to downtown Franklin and enjoy the multitude of amenities the city has to offer or hop right on I-65 and get anywhere expediently. The clubhouse has even been converted into a fitness center to boot!

19. 2023-02-28
    status Active 574-char remark

    Show marketing remark (574 chars)

    Come check out this 3 bedroom, 2 bath ranch-style home in the highly sought after city of Franklin! Your new home offers a spacious great room, laminate flooring and an attached 2-car garage. Enjoy the access to the community pool, with none of the upkeep a pool requires. Hit the links, as this property is across the street from The Legends Golf Club. Take the short drive to downtown Franklin and enjoy the multitude of amenities the city has to offer or hop right on I-65 and get anywhere expediently. The clubhouse has even been converted into a fitness center to boot!

20. 2023-02-28
    listed $204,900 Active 574-char remark

    Show marketing remark (574 chars)

    Come check out this 3 bedroom, 2 bath ranch-style home in the highly sought after city of Franklin! Your new home offers a spacious great room, laminate flooring and an attached 2-car garage. Enjoy the access to the community pool, with none of the upkeep a pool requires. Hit the links, as this property is across the street from The Legends Golf Club. Take the short drive to downtown Franklin and enjoy the multitude of amenities the city has to offer or hop right on I-65 and get anywhere expediently. The clubhouse has even been converted into a fitness center to boot!

21. 2015-09-17
    historical
22. 2015-08-19
    listed $99,900 Active
23. 2014-01-12
    historical
24. 2013-07-11
    listed $94,900
25. 2011-06-11
    historical
26. 2010-12-10
    listed $94,900
27. 2010-03-04
    historical
28. 2009-09-03
    listed $94,900
29. 2009-06-05
    historical
30. 2009-05-28
    soldstatus $60,800
31. 2009-03-20
    listed $68,000
32. 2008-12-18
    soldstatus $104,396
33. 2008-12-18
    soldstatus $104,396

ⓘ 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: $1,977 · $165/mo
• Projected year-2 tax: $1,977 · $165/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 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,935
• − Mortgage interest: −$12,603
• − Property taxes: −$1,977
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − Depreciation: −$6,545
• Taxable loss: −$5,506
• Est. tax savings @ 24.0%: +$1,321
• After-tax cash flow: $-191/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 Community School Corporation
• NCES district ID: 1803690
• Math proficiency: 36% ▼ -11.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $54,855
• Composite: 34.93/100
• National rank: #5066
• State rank: #133 of 301 in IN

Livability — Franklin

• Score: 65/100
• State rank: #351
• US rank: #13428

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment C Housing A+ Health & safety F User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, IN
• County: Johnson County · 154,261 people
• City population: 34,647
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 34,647
• Household income: $85,076
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 984.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 170,080 people
• By 2030: 179,983 · +5.8%
• By 2040: 198,580 · +16.8%
• By 2050: 214,661 · +26.2%
• By 2075: 247,990 · +45.8%
• By 2100: 257,821 · +51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+34.3) · D 32.0% · R 66.3% · Other 1.7%
• 2008→2024 swing: -8.9pp toward R · 2008: -25.5pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+34.1 2016: R+42.5 2012: R+38.5 2008: R+25.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.53%
• Current HPI: 235.0009
• Rent YoY: ▲ 4.68%
• 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

+125.1% since first listed

18 events — show timeline

• 2026-05-13 Listed $235,000 MIBOR as Distributed by MLS Grid
• 2023-04-27 Sold (MLS) $202,900 MIBOR as Distributed by MLS Grid
• 2023-03-07 Pending — MIBOR as Distributed by MLS Grid
• 2023-02-28 Relisted — MIBOR as Distributed by MLS Grid
• 2023-02-28 Listed $204,900 MIBOR as Distributed by MLS Grid
• 2015-09-17 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-08-19 Listed $99,900 MIBOR as Distributed by MLS Grid
• 2014-01-12 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-07-11 Listed $94,900 MIBOR as Distributed by MLS Grid
• 2011-06-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-12-10 Listed $94,900 MIBOR as Distributed by MLS Grid
• 2010-03-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-09-03 Listed $94,900 MIBOR as Distributed by MLS Grid
• 2009-06-05 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-05-28 Sold (MLS) $60,800 MIBOR as Distributed by MLS Grid
• 2009-03-20 Listed $68,000 MIBOR as Distributed by MLS Grid
• 2008-12-18 Sold (Public Records) $104,396 Public Records
• 2008-12-18 Sold (Public Records) $104,396 Public Records

Property tax history

+1.6%/yr

Latest (2024): $1,977 · +5.3% YoY. Source: county tax records.