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13678 Cunningham Dr
Carmel, IN

13678 Cunningham Dr

$685,000
5 bd • 5 ba • 4,899 sf

This analysis was generated by artificial intelligence on 1/27/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$685,000

Price/Sq.Ft

$140

Year Built

2006

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Prime Location in Long Ridge Estates: This property is located in the highly sought-after Long Ridge Estates, known for its well-maintained homes and family-friendly environment. The neighborhood is very desirable. • Spacious and Well-Designed Layout: With 5 bedrooms and 4.5 bathrooms across 4,899 sqft, the home offers ample space for families. The open-concept design, separate dining room and office, and large bedrooms provide a functional and comfortable living experience. The main level bedroom with a full bath is a rare and valuable feature. • Modern Features and Updates: The home includes stainless steel appliances, granite countertops, a smart thermostat, and a recently updated en suite bathroom in the primary bedroom. These modern amenities add to the home's appeal and value. The seller’s commitment to replacing the garage door adds further value. • High-Quality School District: The property is located within the highly-rated Carmel Clay School District, with College Wood Elementary (8/10), Creekside Middle School (9/10), and Carmel High School (10/10) all nearby, making it a very attractive location for families with children. • Desirable Outdoor Space: The large, fully fenced backyard with a deck and stone patio provides a private outdoor space for relaxation and entertainment. The curved lot enhances privacy. The sprinkler system makes lawn maintenance easier. • Functional Second Floor Laundry: The second-floor laundry room with generous space, cabinetry, countertop space, and a linen closet is a very useful feature.

The Bad

• High Price Point: At $685,000 and $139.82 per sqft, the property is priced at the higher end of the market. While the home has many features and is in a desirable neighborhood, the price may deter some buyers. • Unfinished Basement: While the unfinished basement offers customization potential, it also represents an additional expense for buyers who want more functional living space. This may be a drawback for those seeking a move-in ready home. • HOA Fees: While the HOA includes some useful amenities, the specific fees are not mentioned. These fees add to the monthly ownership costs and should be considered by potential buyers. The lack of transparency on these fees is concerning. • Moderate Climate Risks: Although the flood risk is minimal, the moderate fire, air quality, and heat risks may lead to higher insurance premiums and should be taken into consideration. • Dependence on Car: Carmel is a car-dependent city, and this property is not within walking distance of many retail or entertainment options. This may be a drawback for buyers who prefer walkability.

The Ugly

• Potential for High Monthly Carrying Costs: Considering the $685,000 price, high property taxes in Carmel, HOA fees, and estimated insurance at $2,466/year, the monthly carrying costs could be substantial. Buyers should carefully assess their budget to ensure they can comfortably afford these expenses. • Uncertain HOA Fees: The listing does not specify the exact HOA fees. This lack of transparency makes it difficult for buyers to accurately assess their total monthly costs. Potential buyers should request this information before making an offer, as they can add significantly to monthly costs. • Moderate Climate Risks: While the flood risk is minimal, the moderate fire, air quality, and heat risks may lead to higher insurance premiums and potential mitigation expenses. The moderate fire risk (3/10) could be a concern if the area experiences dry conditions. The moderate air quality risk (4/10) and heat risk (3/10) are also factors to consider, especially for those with respiratory issues or sensitivity to heat. • Incomplete Basement: The unfinished basement, while offering customization potential, may require a significant investment to finish, both in terms of time and money. This could be seen as a drawback by some buyers who prefer a move-in ready home. The plumbed bath/wet bar might incur additional costs if the buyer wants to add those features. • Potential for Future Development: Ongoing construction projects and development in Carmel could lead to disruptions and potential noise issues near the property. Buyers should investigate any planned developments in the area and consider their impacts.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Growing Families: The 5-bedroom, 4.5-bathroom layout is ideal for families needing ample space. The main level bedroom with a full bath also provides flexibility for multi-generational living or guests. • Buyers Prioritizing School Quality: The property is located within the highly-rated Carmel Clay School district, with College Wood Elementary (8/10), Creekside Middle School (9/10), and Carmel High School (10/10) all nearby. This is a major draw for families with school-aged children. • Homebuyers Seeking Move-In Ready Properties: Built in 2006, the home features modern amenities like stainless steel appliances, granite countertops, and a smart thermostat. Recent updates, such as the primary bathroom, add to its appeal. The seller also plans to replace the single bay garage door, ensuring the home is well-maintained from the outset. • Those Desiring a Large, Private Backyard: The fully fenced backyard, complete with a deck and stone patio, offers a private outdoor space for relaxation and entertainment. The curved lot design enhances this privacy. • Buyers Who Need Flexible Living Spaces: The home offers a separate dining room, an office/additional living space with bay windows, and a large unfinished basement with 9' ceilings. These spaces allow for customization to fit various lifestyle needs.

Not For

• Buyers Seeking a Low-Maintenance Property: While the home is move-in ready, the large size and unfurnished basement may require ongoing maintenance and potential upgrades. The large yard will also require regular upkeep. • Budget-Conscious Buyers: At $685,000 and $139.82 per sqft, this property is positioned at the higher end of the market. This does not include annual property taxes, which are likely high in Carmel, and HOA fees. Buyers with a tight budget may find more affordable options elsewhere in the region. • Buyers Prioritizing Walkability: Carmel is a car-dependent community. While this property is located in a desirable neighborhood, it is not within walking distance to many retail or entertainment options. Buyers seeking a walkable lifestyle may find this location less appealing. • Those Needing a Fully Finished Basement: The basement is unfinished and requires additional investment to make usable. Buyers needing a move-in ready living space may find this a drawback. • Buyers Not Comfortable with HOA Restrictions: The property is part of an HOA, which includes certain fees and restrictions. Those who prefer complete control over their property may not like this.
Demographics
Area Median Income

$107,556

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Risk Assessment

Climate Risks

airMODERATE

3 bad air quality days per year

fireMODERATE

Insurance: Recommended

heatMODERATE

7 extreme heat days per year

98th percentile: 101°F

windMINOR

Insurance: Recommended

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

Risk Analysis

• Market Volatility: While Carmel is a desirable area, real estate markets can fluctuate. There is no guarantee that the property will maintain its current value or appreciate at the same rate. The large price increase in recent years may not be sustainable over the long term. • High Property Taxes: Carmel has higher property taxes compared to other areas in Indiana. These taxes, combined with the HOA fees and estimated insurance ($2466/year), will contribute to higher monthly carrying costs. • Unfinished Basement: The basement being unfinished represents both a risk and an opportunity. While it provides potential for customization, it also requires additional investment of time and money to finish. This may deter some buyers or require additional financing. • Moderate Climate Risks: While flood risk is minimal (1/10), the property has moderate fire (3/10), air quality (4/10), and heat (3/10) risks. These factors should be considered when purchasing insurance, and may lead to higher annual costs. The 2/10 wind risk is minor but still requires recommended insurance. • HOA Fees and Restrictions: The HOA includes entrance common, maintenance, park/playground, and tennis court(s). However, detailed HOA fees are not listed, and additional assessments may be imposed in the future. Potential buyers should review these documents carefully to understand their full financial and legal implications. • Potential for Future Development: Carmel is continually evolving with new developments. While this brings amenities, it may also result in construction projects near the property. Buyers should investigate if there are any planned developments nearby.
Insurance
Annual Cost

$2,466

$206 per month

Financials

Monthly Costs
Market Rent (5 bed)

$2,100

Get a detailed rental estimate on Zillow®
HOA Fee

$81

Price History

Property Taxes

$6,063
2023 Tax Assessment
22.1%from previous year
Assessed Value$612,800
Tax Rate0.99%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$880,216

28.5% above list price

Median Price

$962,500

Based on 4 recent sales

Price per Sq.Ft

$183

Comparable Properties

3733 Aldrew Place, Carmel, IN 46074
Price: $962,500
Sq.Ft: 4,819
Beds/Baths: 4/5
$/Sq.Ft:
$20042.8%
Sale Date: 9/5/2024
14343 Kelso Court, Carmel, IN 46074
Price: $1,178,362
Sq.Ft: 5,432
Beds/Baths: 6/6
$/Sq.Ft:
$21755.1%
Sale Date: 1/10/2025
13254 Camillo Court, Carmel, IN 46074
Price: $645,000
Sq.Ft: 4,202
Beds/Baths: 6/4
$/Sq.Ft:
$1539.8%
Sale Date: 11/15/2024
12963 Tuscany Boulevard, Carmel, IN 46032
Price: $735,000
Sq.Ft: 4,557
Beds/Baths: 5/4
$/Sq.Ft:
$16115.4%
Sale Date: 8/1/2024

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