5826 Scotland St · Indianapolis city (balance), IN 46234

$299,900

3 bd · 2.0 ba · 1,620 sqft · SingleFamily public records · 3 Days on market

Built 2004 10,454 sqft lot Est $272k · 10% over $33/mo HOA · 1% 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 +12.0/30.0
• Schools +6.3/10.0
• Rent growth +4.4/5.0
• DSCR +3.5/10.0
• 1% rule +3.0/10.0
• ARV discount +2.9/15.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Exciting contemporary 1620 Sq Ft ranch waiting for you. Soaring ceilings throughout. New vinyl plank flooring in 2019 in the Entry, GR, Kit, & DR . Covered brick inlaid front porch w/room for a small table. The Entry welcomes you into the 20x13 GR. Open floor plan between the GR, Dr, Kit, and Office. The GR features a floor to ceiling brick faced gas fireplace & skylights. Cathedral ceiling over the GR, DR, & Kit. DR can be used formally or informally. Kit microwave, refrigerator, R/O, & dishwasher all stay. 13x11 Office w/double door entry and access to MBR. MBR suite w/ cathedral ceiling & 8x5 W-I-C. MBR BA w/2 sink vanity & huge shower w/built-in seats. 9' ceilings in other rooms/areas. W & D stay. 18 x 14 Deck. Accenting landscaping.

Key facts

• Covered front porch
• Brick inlay
• Bonus flex rm

Tags

• MOVE IN READY
• BONUS FLEX RM
• ONE LEVEL LIVING
• NEW ROOF
• COVERED FRONT PORCH
• BRICK INLAY

Property features AI

Finance

• Other: Radon mitigation system installed
• HOA & community: Homeowners association with semi-annual fee (approximately $200); HOA provides entrance/common area maintenance, insurance, park/playground, management, snow removal, tennis courts, basketball court, pool, and trails; HOA governed by covenants and restrictions

Exterior

• Parking: Attached garage (2 car, approximately 400 sq ft)
• Security: Security system; Smoke alarms
• Utilities: Public water; Municipal sewer connected; Natural gas connected; Cable available
• Home design: Single-family residence; One story
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Covered patio/porch; Deck; Sidewalks; Mature trees

Interior

• Kitchen: Electric oven; Microwave with hood; Dishwasher; Garbage disposal; Refrigerator; Breakfast bar; Pantry
• Bedrooms: Three bedrooms on the main level; Primary bedroom with walk-in closet
• Flooring: Luxury vinyl plank in kitchen, great room, and dining room
• Bathrooms: Two full bathrooms; Primary bathroom with double sinks, full shower stall, and suite layout
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Breakfast bar; Cathedral vaulted ceilings; High ceilings; Pantry; Smart thermostat; Walk-in closets; Painted woodwork
• Laundry & utility: Washer and dryer included; Laundry closet; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-73 ($-875/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (20.2% below list).
• Recommended offer: $239k (20.2% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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.
• Brownsburg Community School Corporation (suburban): math 72% / reading 72% proficiency, ranked #2 of 301 in IN (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Brownsburg High School (math 61% / reading 83%, grade B+, #12 of 369 statewide, top 4%, 3,177 students, 33% FRL) — zoned schools average 33% FRL vs 17% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.6%/yr); 66 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).
• This rent runs 35% of the median local income ($83k/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 $9k of value loss. Plan a longer hold.
• Hendricks County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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 $217k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $239,419 (20.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.80% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.04%
• DSCR: 0.95
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $272,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5809 Scotland St	0.04mi	4/2.0 (+1)	1,656 (+2%)	12mo	$315,000	$190	80
10585 Windward Dr	0.18mi	4/2.0 (+1)	1,656 (+2%)	10mo	$335,000	$202	75
5890 Jamestown Square Ln	0.19mi	3/2.0	1,693 (+4%)	17mo	$277,500	$164	69
5919 Jamestown Square Ln	0.23mi	3/2.0	1,630 (+1%)	23mo	$299,900	$184	69
5788 Independence Ave	0.22mi	3/2.0	1,704 (+5%)	18mo	$285,000	$167	66
5849 Jamestown Square Ln	0.21mi	3/2.0	1,816 (+12%)	14mo	$305,000	$168	58
10436 Kings Gap Way	0.58mi	3/2.0	1,782 (+10%)	2mo	$290,000	$163	55
10056 Clear Creek Cir	0.70mi	3/2.0	1,762 (+9%)	2mo	$275,000	$156	51
10275 Memorial Knoll Dr	0.71mi	3/2.0	1,770 (+9%)	1mo	$294,000	$166	51
6261 Lakeland Ln	0.44mi	4/2.0 (+1)	1,832 (+13%)	9mo	$325,000	$177	45
5525 Wythe Ln	0.32mi	3/2.0	1,854 (+14%)	21mo	$313,000	$169	44
10112 Split Rock Way	0.68mi	3/2.0	1,858 (+15%)	6mo	$290,000	$156	39

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 · 7.56% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.50×
• Total profit: $-41,782
• Equity at exit: $44,716

10-year hold

• IRR: 1.3%
• Equity multiple: 1.11×
• Total profit: $9,324
• Equity at exit: $25,930

Cash invested: $83,972 (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 46234

• Home prices YoY: -33.0%
• Rents YoY: 7.6%
• Active inventory: 66
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,394 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$234 /mo · $2,804/yr
• Insurance: −$125
• HOA: −$33
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-73

Break-even live

Break-even rent $2,486

Max offer price $287,019

Occupancy floor 98%

Sensitivity live

Price	-10% $97	-5% $12	+0% $-73	+5% $-158	+10% $-243
Rent	-10% $-262	-5% $-167	+0% $-73	+5% $22	+10% $116
Rate	-1.0pp $78	-0.5pp $3	base $-73	+0.5pp $-151	+1.0pp $-230

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5548 James Blair Dr Indianapolis, IN	3.0	2.0	1572	$2,000	$1.27	25d	1	0.25mi
10309 Gateway Dr Indianapolis, IN	2.0	2.0	1260	$2,295	$1.82	45d	1	0.38mi

HOA detail

• Monthly dues: $33 · $396/yr
• Likely covers: gaslandscaping

Listing history 4 events

1. 2026-06-16
   status $299,900 Pending 3 DOM
2. 2026-06-15
   days on market $299,900 Active 3 DOM
3. 2026-06-13
   remarks 691-char remark
4. 2026-06-13
   listed $299,900 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: $2,804 · $234/mo
• Projected year-2 tax: $2,804 · $234/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 ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,730
• − Mortgage interest: −$16,799
• − Property taxes: −$2,804
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,298
• − Management: −$2,298
• − HOA: −$396
• − Depreciation: −$8,724
• Taxable loss: −$6,089
• Est. tax savings @ 24.0%: +$1,461
• After-tax cash flow: $586/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: Brownsburg Community School Corporation
• NCES district ID: 1801020
• Math proficiency: 72% ▼ -5.00%
• Reading proficiency: 72% ▼ -4.00%
• Median HH income: $75,304
• Composite: 63.45/100
• National rank: #616
• State rank: #2 of 301 in IN

Livability — Indianapolis city (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Marion County · 998,460 people
• City population: 881,119
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 28,300
• Household income: $83,190
• Rent vs Own: 23.5% rent · 76.5% own
• Severe rent burden: 764.0

Population outlook (Hendricks County) Hauer SSP2

• Today (2025): 187,418 people
• By 2030: 201,494 · +7.5%
• By 2040: 228,487 · +21.9%
• By 2050: 253,068 · +35.0%
• By 2075: 308,920 · +64.8%
• By 2100: 336,510 · +79.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Black 19% Hispanic / Latino 10% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 2% Romanian 2% Iranian 2%
• Foreign-born: 11% · Canada, China, United Kingdom
• Languages at home: 82% English-only · Spanish 8% Other Indo-European 3% French/Haitian/Cajun 3%

Political lean MEDSL · Hendricks

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.7%
• 2008→2024 swing: +1.9pp toward D · 2008: -23.4pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+23.9 2016: R+34.2 2012: R+34.9 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.23%
• Current HPI: 215.5854
• Rent YoY: ▲ 7.56%
• 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

+38.3% since first listed

5 events — show timeline

• 2026-06-12 Listed $299,900 MIBOR as Distributed by MLS Grid
• 2020-11-30 Sold (MLS) $216,900 MIBOR as Distributed by MLS Grid
• 2020-11-24 Pending — MIBOR as Distributed by MLS Grid
• 2020-10-26 Pending — MIBOR as Distributed by MLS Grid
• 2020-10-22 Listed $216,900 MIBOR as Distributed by MLS Grid

Property tax history

+7.4%/yr

Latest (2025): $2,804 · +18.2% YoY. Source: county tax records.