Two-Bedroom Residential Income
For Sale
$209,900
12245 Pebble Street, Fishers, IN 46038
Townhome with attached garage, private outdoor amenities, and community services designed for low-maintenance ownership.
Property Size1,670 SF
Price / SF$125.69
Days on Market21
Property Features for 12245 Pebble Street
General Information
Standard status
Active
Size
1,670 SF
Total Parking Spaces
1
Property subtype
Commercial
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
swimming pool
basketball courts
volleyball courts
playground
24-hour workout facility
clubhouse
fireplace
Building Details
Year Built
2006
Listing Agency:
Bif Ward Real Estate Group
(317) 580-7871
Listed By:
Bif Ward
(317) 580-7871
Source:
Bifward
Added: Aug 10
Changed: Aug 28
Last Checked: Aug 29 at 5:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bif Ward Real Estate Group
Investment Insights
Based on property information with market context.
This 1,670-square-foot residential income property is a two-bedroom, 2.5-bath townhome built in 2006. The main level includes 9-foot ceilings, vinyl plank flooring, a fireplace, open kitchen with cherry cabinetry and breakfast bar, separate dining area, and laundry room. Kitchen and laundry appliances remain in place. A finished attached one-car garage has an epoxy floor, while the upper level features a vaulted primary suite, private full bath with garden tub and shower combination, walk-in closet, second full bath, and loft suitable for office or reading space.
The community offers a swimming pool, basketball and volleyball courts, playground, 24-hour workout facility, and clubhouse. The property is located at 12245 Pebble Street in Fishers, near I-69, shopping, restaurants, and everyday conveniences. HOA services include water, sewer, snow removal, and building maintenance. A home warranty is included.
The community offers a swimming pool, basketball and volleyball courts, playground, 24-hour workout facility, and clubhouse. The property is located at 12245 Pebble Street in Fishers, near I-69, shopping, restaurants, and everyday conveniences. HOA services include water, sewer, snow removal, and building maintenance. A home warranty is included.
Key Highlights
- Two‑bedroom, 2.5‑bath townhome with 1,670 square feet
- Finished attached one‑car garage with epoxy floor
- 9‑foot main‑level ceilings, fireplace, and vinyl plank flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,859
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$337,180
$337.2K
Cap Rate 7%
$240,843
$240.8K
Cap Rate 9%
$187,322
$187.3K
Market Conditions
NOI Build-Up for 1,670 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.1K $19.80/SF
− Vacancy
−$2.4K −$1.45/SF
EGI
$30.7K $18.35/SF
− OpEx
−$13.8K −$8.26/SF
NOI
$16.9K $10.10/SF
Area
Fishers, IN
Vacancy
7.30%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$337,180
Cap Rate 7%
$240,843
Cap Rate 9%
$187,322
Alternative Uses
Best Use
Apartment 5plus
$240.8K
$210.7K – $281.0K
NOI $16,859 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$411.2K
$359.8K – $479.7K
NOI $28,781 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Explore this area
Business Placement
Demographics for 46038, IN
42,694
Population
17,738
Households
2.4
Avg Household Size
36
Median Age
60%
College-Educated
98%
High-School Grad
15.5 sq mi
ZIP Area
2,754
Density / Sq Mi
$105,092
Median Household Income
$61,220
Median Earnings
$1,489
Median Rent
$301,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Townhome with attached garage, private outdoor amenities, and community services designed for low-maintenance ownership.
Where is this residential income property located?
The property is located at 12245 Pebble Street Fishers, IN.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Two‑bedroom, 2.5‑bath townhome with 1,670 square feet; Finished attached one‑car garage with epoxy floor; 9‑foot main‑level ceilings, fireplace, and vinyl plank flooring
