6122 Cheri Ct · Indianapolis city (balance), IN 46237

$265,900

3 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 2 Days on market

Built 1992 0.33 ac lot Est $266k · at est.

---

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 +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.1/10.0
• 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

Come see this beautiful 3 bedroom, 2 full bathroom home in the desirable Southern Lake Estates in Franklin Township! This home has a big, fenced-in yard that is perfect for a growing family. Open concept, with a split bedroom floor plan! The master bedroom is HUGE with a walk-in closing and en-suite bathroom. Come see this home before it's too late!

Key facts

• 0.33 acre lot
• 2 garage spots
• Built 1992

Property features AI

Finance

• Other: Approximately 0.33 acre lot

Exterior

• Parking: Attached garage with garage door opener; Two garage spaces
• Security: Smoke detector(s)
• Utilities: Municipal sewer connected; Private water
• Home design: Single family residence; One level
• Construction: Vinyl with brick exterior; Slab foundation
• Exterior features: Storage shed; Has a view

Interior

• Kitchen: Gas oven; Microwave; Refrigerator; Eat-in kitchen; Pantry
• 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; Cathedral ceilings; Walk-in closet(s); Eat-in kitchen; Pantry; Laundry in unit
• Laundry & utility: Laundry room on the main level; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $266k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $266k).
• Cap rate 8.1% 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.
• Market conditions: Rents rising (+3.8%/yr); 261 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 41% 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 $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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 25y 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 $160k; list at $266k implies a 66% gain — meaningful room to come down on a strong offer.

Recommended offer $265,900

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. 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.
3. 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.
4. 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: 1.01% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.62%
• DSCR: 1.29
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $266,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7528 Gunyon Dr	0.20mi	3/2.0	1,408 (+1%)	0mo	$265,000	$188	85
5914 Edelle Dr	0.27mi	3/2.0	1,392 (-1%)	2mo	$265,000	$190	81
7301 Muirfield Pl	0.36mi	3/2.0	1,420 (+1%)	0mo	$280,500	$198	77
6324 Muirfield Way	0.19mi	3/2.0	1,499 (+7%)	2mo	$260,000	$173	74
8042 Southern Trails Pl	0.48mi	3/2.0	1,410 (+1%)	2mo	$290,000	$206	71
8036 Southern Trails Pl	0.46mi	3/2.0	1,424 (+2%)	3mo	$255,000	$179	69
7518 Chris Anne Dr	0.21mi	3/2.0	1,244 (-11%)	1mo	$257,550	$207	67
8244 Amarillo Dr	0.58mi	3/2.0	1,410 (+1%)	1mo	$280,000	$199	67
6032 Rockdell Dr	0.34mi	2/2.0 (-1)	1,492 (+7%)	1mo	$250,000	$168	64
7819 Inverness Dr	0.69mi	3/1.5	1,224 (-13%)	2mo	$235,000	$192	44
7545 Turnberry Ct	0.69mi	3/2.0	1,584 (+13%)	1mo	$285,000	$180	41
6820 Inverness Way	0.73mi	4/2.0 (+1)	1,604 (+15%)	3mo	$260,000	$162	30

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-14,835
• Equity at exit: $39,647

10-year hold

• IRR: 5.2%
• Equity multiple: 1.40×
• Total profit: $29,459
• Equity at exit: $22,990

Cash invested: $74,452 (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: 8.3×

Monthly cashflow live

• Estimated rent: $2,681 high
• Mortgage (P&I): −$1,394
• Tax from tax record: −$202 /mo · $2,419/yr
• Insurance: −$111
• HOA: −$0
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $411

Break-even live

Break-even rent $2,160

Max offer price $265,900

Occupancy floor 80%

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: $66,475
• Closing costs: $7,977
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7703 Janel Ct Indianapolis, IN	4.0	2.5	1824	$4,950	$2.71	23d	1	0.09mi
7825 Jaclyn Dr Indianapolis, IN	3.0	2.0	1244	$1,875	$1.51	4d	1	0.15mi
6210 Carrie Cir Indianapolis, IN	3.0	2.0	1226	$1,890	$1.54	4d	1	0.35mi
6404 Amarillo Way Indianapolis, IN	3.0	2.0	1494	$1,845	$1.23	4d	1	0.42mi
8107 Southern Trails Pl Indianapolis, IN	4.0	2.0	1746	$2,000	$1.15	4d	1	0.53mi
7925 Carlington Rd Indianapolis, IN	2.0	2.0	1455	$2,079	$1.43	2d	17	0.69mi
5945 Arlo Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1092	$2,020	$1.85	2d	12	0.96mi
7251 Windsor Lakes Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1103	$1,800	$1.63	2d	36	0.97mi
8035 Preidt Pl Indianapolis, IN	2.0	1.0	947	$1,235	$1.30	23d	1	1.50mi

Listing history 2 events

1. 2026-06-01
   status $265,900 Pending 2 DOM
2. 2026-05-31
   days on market $265,900 Active 2 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: $2,419 · $202/mo
• Projected year-2 tax: $2,419 · $202/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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,168
• − Mortgage interest: −$14,895
• − Property taxes: −$2,419
• − Insurance: −$1,330
• − Repairs & maintenance: −$2,573
• − Management: −$2,573
• − Depreciation: −$7,735
• Taxable income: $643
• Est. tax owed @ 24.0%: −$154
• After-tax cash flow: $4,777/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

+135.5% since first listed

9 events — show timeline

• 2026-05-29 Listed $265,900 MIBOR as Distributed by MLS Grid
• 2018-04-30 Sold (MLS) $160,000 MIBOR as Distributed by MLS Grid
• 2018-03-18 Pending — MIBOR as Distributed by MLS Grid
• 2018-03-15 Listed $159,900 MIBOR as Distributed by MLS Grid
• 2005-08-23 Sold (MLS) $93,000 MIBOR as Distributed by MLS Grid
• 2005-07-18 Listed $97,900 MIBOR as Distributed by MLS Grid
• 2001-04-10 Sold (Public Records) $110,838 Public Records
• 2001-03-23 Sold (MLS) $110,900 MIBOR as Distributed by MLS Grid
• 2001-02-02 Listed $112,900 MIBOR as Distributed by MLS Grid

Property tax history

+6.7%/yr

Latest (2025): $2,419 · -5.2% YoY. Source: county tax records.