Sales comparison approach using 3 comparable sales within 0.5 miles sold in last 6 months. Adjusted for size, condition, and bedroom count. Assessed value of $194,400 appears below market.
Expansive 8-Bedroom Contemporary on a Level 0.39-Acre Lot
This two-story contemporary at 1600 Sherri Way delivers uncommon scale and flexibility: eight bedrooms and four full baths across 2,325 square feet on a level 0.39-acre parcel in Saddlebrook. From the street the home presents clean lines and a generous driveway leading to a two-car attached garage — a practical arrival for busy households and multi-vehicle families.
Inside, the home was built to accommodate large-family living and multi-use layouts. With central air conditioning and forced-air gas heat, the house is described in good condition and offers comfortable, everyday systems (buyers should verify ages of HVAC and roofing during inspection). The absence of a basement simplifies maintenance while the two full stories concentrate living space for clear separation of activity zones — bedrooms, study areas, and guest suites can be configured to fit modern family needs, long-term multigenerational living, or an income-producing rental setup.
The backyard is level and ready for play, garden projects, or a future patio/landscape upgrade. Saddlebrook’s wider streets and mature yards create a calm residential setting; practical neighborhood advantages are immediate. Crestdale Elementary is just 0.6 miles away, Glen Miller Park sits roughly 1.5 miles from the front door, and Reid Health hospital is about 2 miles — amenities that matter for families and those seeking convenient access to healthcare and recreation. IU East campus lies about 3 miles away, making the location attractive for students, staff, and faculty seeking nearby housing.
From a value perspective, recent comparables in the subdivision indicate a local market range between $250,000 and $275,000, with a midpoint valuation near $262,500 and an assessed value listed at $194,400. Richmond’s broader market shows moderate appreciation (around 4% year-over-year, 15% over five years), a balanced inventory (approx. 2.5 months) and average days on market near 54 — conditions that support a timely sale for competitively priced single-family homes. Buyers should schedule a full inspection to confirm system ages and property boundaries; for those needing size, proximity to schools and medical care, and straightforward lot potential, this Saddlebrook residence is a compelling option.
See the properties helping shape the valuation.
Comparable sales
- 51 SF larger
- 4 fewer bedrooms
- 1 fewer bathroom
- Similar lot size
- 3 years newer
- 623 SF larger
- 5 fewer bedrooms
- 1 fewer bathroom
- 4,338 SF smaller lot
- 2 years newer
- 684 SF larger
- 5 fewer bedrooms
- Similar lot size
- 19 years older
A 1988 contemporary on 0.39 acres.
Building
Site & utilities
Saddlebrook
Researched nearby locations
Location
1600 Sherri Way, Richmond, IN 47374
Saddlebrook is a mature, family-oriented subdivision characterized by wide residential streets, established yards and straightforward access to Richmond’s key amenities. Families will appreciate being under a mile from Crestdale Elementary and within a short drive of Glen Miller Park’s green space. The neighborhood offers an easy commute to Reid Health and IU East, plus local shopping and services are a short drive away. Quiet and residential in character, Saddlebrook is favored by buyers seeking space, safety, and proximity to schools and community resources.
Good local recreation access: Glen Miller Park is about 1.5 miles away with walking space and community facilities; IU East and neighborhood green spaces are within 3 miles for additional outdoor and campus activities.
A factual market snapshot around 1600 Sherri Way.
Richmond’s single-family market is currently balanced with a slight lean toward sellers in neighborhoods like Saddlebrook. Inventory sits around 2.5 months — below what agents consider 'neutral' — and average days on market hover near 54, meaning well-priced homes typically move in roughly two months. Local median sale price for the broader area is about $169,900, but recent sales inside Saddlebrook show stronger pricing: comparable closings within a half-mile clustered between $250K and $275K, yielding a local price-per-square-foot near $112.90. Appreciation has been modest but steady (roughly 4% over the past year and 15% over five years), supporting near-term price stability. For a large 8-bedroom property, demand is more niche: the size and bedroom count attract families, caretakers, or investors seeking rental capacity, and may require targeted marketing. Given the low-to-moderate inventory and recent comparable sales, buyers considering 1600 Sherri Way benefit from current market clarity — competitive but not overheated — while sellers can expect reasonable interest if the property is priced within the $250K–$275K range. Verify home-system ages and lot lines before contract exchange to avoid surprises and to strengthen negotiating position.
Single Family Residential
Zoning
Research-indicated uses
- Single Family
- Accessory Dwelling Unit
- Home Occupation
Assessment data and recorded transactions.
Assessed value is kept visually separate from the CompCasa market-value estimate.
Tax assessment
Sale history
What the research supports — and what is still worth verifying.
Key findings
- Assessed value of $194,400 (land $35K, improvements $159.4K) — annual taxes $3,900
- Zoned R-1 — Single Family Residential
- Comparable sales within 0.5 miles in last 6 months range $250K–$275K
- Average days on market in Richmond: 54 days
- Proximity to Crestdale Elementary School (0.6 mi) and Glen Miller Park (1.5 mi)
Still worth verifying
Routine buyer due diligence items; these are not known defects.
- Confirm lot dimensions and boundaries
- Verify age and condition of HVAC and roofing systems
- Professional home inspection
- Review school district assignments and ratings
What stands out about this property.
Interior Features
- 8 bedrooms, 4 full bathrooms
- 2,325 square feet across two stories
- Central air conditioning
- Forced-air gas heating
- Good overall condition (buyer to verify systems)
- No basement
Exterior & Lot
- Level 0.39-acre lot (approx. 16,988 sq ft)
- 2-car attached garage
- Asphalt shingle roof
- Standard residential driveway from Sherri Way
- Residential frontage in Saddlebrook subdivision
Location & Neighborhood
- Saddlebrook subdivision
- Crestdale Elementary — 0.6 miles
- Glen Miller Park — 1.5 miles
- Reid Health — 2 miles
- IU East campus — 3 miles
- Richmond Community Schools
Walkability & Recreation
- Walkability Rating: 45/100 — Car-Dependent/Somewhat Walkable
- Glen Miller Park and neighborhood green spaces within 2 miles
- IU East campus and community amenities within 3 miles
- Nearby walking paths and park facilities at Glen Miller Park
- Community recreation and sports opportunities nearby
Sources & research confidence.
See where the property research came from and how confidence varies by field.