Multi-Level Residential Income
For Sale
$210,000
5707 Bradston Way, Indianapolis, IN 46237
Three-bedroom condominium with a private deck, flexible bonus room, and access to shared recreational amenities.
Property Size1,999 SF
Price / SF$105.05
Days on Market53
Property Features for 5707 Bradston Way
General Information
Standard status
Active
Size
1,999 SF
Property subtype
Commercial
Amenities
pool
clubhouse
tennis courts
wood deck
fireplace
laundry
Building Details
Year Built
1978
Listing Agency:
Bif Ward Real Estate Group
Listed By:
Bif Ward
(317) 580-7871
Source:
Bifward
Added: Jul 14
Changed: Sep 2
Last Checked: Aug 31 at 12:44PM
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 1,999-square-foot condominium, built in 1978, is arranged across multiple levels and includes 3 bedrooms and 2 full baths. Interior features include a two-story foyer, a great room with a wood-burning fireplace, a dining area, and a kitchen with a center island, substantial cabinetry, and appliances included. A wood deck extends from the kitchen area, while the uppermost level provides a bonus room suitable for office, recreation, exercise, or additional living space.
The residence is located at 5707 Bradston Way in Indianapolis, Indiana 46237. Community amenities include a pool, clubhouse, and tennis courts. HOA service covers exterior building maintenance, along with lawn mowing and snow removal.
The residence is located at 5707 Bradston Way in Indianapolis, Indiana 46237. Community amenities include a pool, clubhouse, and tennis courts. HOA service covers exterior building maintenance, along with lawn mowing and snow removal.
Key Highlights
- 1,999‑square‑foot condominium built in 1978
- 3 bedrooms and 2 full baths across multiple levels
- Two‑story foyer and great room with wood‑burning fireplace
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
$18,021
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
8.58%
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%
$360,420
$360.4K
Cap Rate 7%
$257,443
$257.4K
Cap Rate 9%
$200,233
$200.2K
Market Conditions
NOI Build-Up for 1,999 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
$34.8K $17.40/SF
− Vacancy
−$2.0K −$1.01/SF
EGI
$32.8K $16.39/SF
− OpEx
−$14.7K −$7.38/SF
NOI
$18.0K $9.01/SF
Area
ZIP 46237
Vacancy
5.80%
Lease Rate
$17.40 /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%
$360,420
Cap Rate 7%
$257,443
Cap Rate 9%
$200,233
Alternative Uses
Best Use
Apartment 5plus
$257.4K
$225.3K – $300.4K
NOI $18,021 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$470.9K
$412.1K – $549.4K
NOI $32,965 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Explore this area
Business Placement
Demographics for 46237, IN
44,378
Population
17,660
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
89%
High-School Grad
14.7 sq mi
ZIP Area
3,019
Density / Sq Mi
$76,676
Median Household Income
$47,742
Median Earnings
$1,272
Median Rent
$216,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condominium with a private deck, flexible bonus room, and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 5707 Bradston Way Indianapolis, IN.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 1,999‑square‑foot condominium built in 1978; 3 bedrooms and 2 full baths across multiple levels; Two‑story foyer and great room with wood‑burning fireplace
