A neighborhood where homes went under contract in a median of 10 days. Here is what homes sell for, how long they take, and what to check first.
Start with the map. Filter by price, beds, and neighborhood.
Pheasant Run is in Decatur Township, in the Metropolitan School District of Decatur Township per MLS records. The homes that sold here in the last two years were mostly built between 1979 and 1999, a mix of one-story and two-story homes.
The MLS shows 17 closings in the last 12 months against 16 the year before, at a median of $234,000, up from $227,500. Homes went under contract in a median of 10 days, down from 16.5, and closed at 99.0% of list on average, with 59% closing at or above list.
What you are actually buying: a smaller house, usually around 1,390 square feet and roughly 35 years old. What you are giving up: time. At 10 days to a contract, buyers have little time, so line up financing before you tour.
Every search below is live MLS data. Save one and you'll get new matches by email the morning they list.
Dues, size range and a thin sample.
Association dues are not part of the MLS data behind this page, so I am not quoting a number. Ask the listing agent for the current dues and what they cover, then confirm with the association itself.
See homes →Homes here ran from about 1,211 to 2,045 square feet in the last two years, so a price per square foot of $169 is a better comparison than the sale price alone.
See homes →Homes here were built between about 1979 and 1999, so check the year built of any comparable you rely on.
See homes →At 17 sales in 12 months, one or two unusual closings can move the median. I pull actual comparables for any specific house.
See homes →Pheasant Run sales in the MLS list Metropolitan School District of Decatur Township as the district. Which elementary, middle and high school an address feeds into can change with boundary updates, so confirm the assignment for the specific address with the district.
The district's current operating referendum was approved in 2019 and expires December 31, 2027. On November 3, 2026, voters decide a “Reduce & Replace” referendum that would replace it with a lower maximum rate for eight years, the 2027 through 2034 budget years. Published figures for the rate differ, so check the ballot language. Referendum rates sit outside the 1% cap.
Drive your actual commute at your actual start time before you commit.
Indiana caps homestead property tax at 1% of gross assessed value under the circuit breaker, so most owner-occupants land at or near that figure before any voter-approved referendum rate, which sits outside the cap. Rentals and second homes are capped at 2% and should be modeled separately. Marion County's local income tax is 2.02%, per the Indiana Department of Revenue's county rate notice effective October 1, 2026. Confirm assessments with the Marion County Assessor.
If you want a lower entry price, compare Mars Hill, which sold at a median of $115,950. If you want a newer house, see Crossfield. For all of Decatur Township, see my Decatur Township guide.
The median single-family sale in Pheasant Run was $234,000 over the 12 months through August 2026, on 17 closings, and the middle 80% of sales ran $195,000 to $251,100 (MIBOR BLC).
The median was 10 days on market over the last 12 months, against 16.5 the year before, and 59% of homes closed at or above list price.
Dues are not part of the MLS data behind this page. Ask the listing agent and confirm with the association.
Metropolitan School District of Decatur Township in MLS records. Confirm the specific school assignment for the address with the district.
Most homes that sold in the last two years were built between 1979 and 1999, with a median build year of 1991.
The district's current operating referendum was approved in 2019 and expires December 31, 2027. On November 3, 2026, voters decide a “Reduce & Replace” referendum that would replace it with a lower maximum rate for eight years, the 2027 through 2034 budget years. Published figures for the rate differ, so check the ballot language. Referendum rates sit outside the 1% cap.
I'm Wes Johnston, a Realtor with Trueblood Real Estate, based in Fishers. I cover the whole Indianapolis metro, and every guide on this site is built the same way: MIBOR numbers, public sources, and the trade-offs a listing description won't mention.
My job isn't to open doors. It's to tell you what a house is actually worth, what's wrong with it, and whether it's the right move for what you're trying to do — then negotiate hard on your behalf and own the process from contract to close.
If you're two years out, that's fine. Most of my best clients started with a question, not a showing.
Fishers-based. Honest numbers, every part of the metro. Committed to your success.
About 17 homes sold here in the last year. A saved search gets you each new Pheasant Run listing the morning it hits the market.
Start My Pheasant Run SearchNot a national algorithm guessing from square footage. A real valuation based on what's actually selling near you, from someone who has been inside those houses.