$410,000
6 Bed · 3.5 Bath · 4,104 Sq Ft
Dual master suites, 3-car garage, fenced yard in Spyglass Falls
6
Beds
3.5
Baths
4,104
Sq Ft
2003
Built
0.22 acres
Lot
3-car attached
Garage
Step onto the deep screened-in porch and you immediately understand why this Spyglass Falls residence becomes the setting for summer evenings and weekend gatherings. Built in 2003 and stretched across 4,104 finished square feet, 9987 Rainbow Falls Lane balances family-sized scale with rooms that feel intentionally comfortable: nine-foot first-floor ceilings, a welcoming fireplace, and large bedrooms — including two full master suites — that provide flexible live/work options.
Downstairs, the finished basement transforms usable square footage into lifestyle space: a wet bar, open entertainment area and an additional bedroom-suite make it ideal for multigenerational living, a private guest suite, or a dedicated media room. Upstairs, walk-in closets and well-proportioned baths give each bedroom privacy and storage; finishes are well maintained and the home’s footprint is thoughtfully laid out for both daily life and hosting larger groups.
Outside, the fenced yard, firepit and wiring for a hot tub create a private backyard retreat while the three-car attached garage answers the call for storage and workshop space. The façade—vinyl with brick accents—and asphalt-shingle roof present classic curb appeal in good condition, and utilities include central AC and forced air heating for year-round comfort.
Location is a practical highlight: Spyglass Falls sits within easy reach of Ironwood Golf Club (approx. 1.5 miles), Saxony Beach, Ritchey Woods Nature Preserve and shopping at Hamilton Town Center and the Fishers District. Families will value Hamilton Southeastern Schools — Lantern Road Elementary, Riverside Junior High and Hamilton Southeastern High — all noted for strong programs and extracurriculars.
This property was owner-occupied after a September 2025 sale and presents a rare combination of size, functional living areas and community amenities. Whether you’re expanding a household, seeking rental potential with a finished basement, or prioritizing top-rated schools and recreation close to home, 9987 Rainbow Falls Lane delivers both space and versatility in a market that continues to favor well-priced, move-in-ready family homes.
Spyglass Falls is a family-oriented community in Fishers that blends suburban calm with easy access to regional amenities. Residents enjoy proximity to Ironwood Golf Club, Saxony Beach, Ritchey Woods Nature Preserve and both Hamilton Town Center and the Fishers District for dining and shopping. The neighborhood feeds into Hamilton Southeastern Schools, prized for academics and extracurriculars, making it a popular choice for growing households. Streets are primarily residential and maintained, offering a quiet environment while keeping major road connections within a short drive.
Fishers remains a seller-favored market with limited supply and steady demand. Current market metrics show roughly 2.5 months of inventory and an average days-on-market near 41 — conditions that typically favor sellers and encourage multiple-offer scenarios for well-prepared listings. Local comps within 0.5 miles have closed in the $420K–$500K range over the past six months, and the neighborhood median sale price sits near $433,000. Year-over-year appreciation is modest but positive (approximately 5% last 12 months) while five-year gains approach 25%, indicating sustained long-term demand. For this single-family product type — larger homes with finished basements and three-car garages — buyer interest is particularly strong among growing families seeking extra living space and top-rated schools. For buyers, limited inventory means competitive offers and the need for quick decisions; for sellers, current conditions support pricing confidently but require thorough pre-listing preparation (inspections, staging, and verifying HOA details) to capture top market value.
Hamilton Southeastern High School
High
Riverside Junior High
Middle
Lantern Road Elementary School
Elementary
Very good access to outdoor recreation: Ironwood Golf Club ~1.5 miles away, Saxony Beach and Ritchey Woods Nature Preserve within a short drive, plus local parks and trails for walking, biking and family weekends.
Well-maintained traditional home in a desirable Fishers neighborhood with ample space and amenities. The finished basement and dual master suites offer flexibility for various living arrangements. Strong market trends and top-rated schools enhance the property's appeal.
Buyers should conduct independent due diligence before making any purchase decisions.
Low
$395K
Midpoint
$410K
High
$425K
$100/SF estimated price per square foot
Sales comparison approach using 3 comparable sales within 0.5 miles sold in last 6 months. Adjusted for size, condition, and features. Assessed value of $400,700 aligns with market estimate.
As of 2026-06-15
This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.
Fishers has experienced significant growth over the past decade, with a strong influx of families and professionals. The area boasts a high median income and low unemployment rate.
Close proximity to shopping centers, recreational facilities, and nature preserves. Easy access to major highways and downtown Fishers.
Market data is based on aggregated public records and may not reflect real-time conditions.
Allowed Uses
$90/SF
Arm's length transaction
$75/SF
Arm's length transaction
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