Seven sections under one HOA near 116th Street and Brooks School Road. Here is what they sell for, how the market changed this year, and what the ponds mean for your dues.
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Sandstone is a group of seven sections — Sandstone Lakes, Meadows, Village, Ridge, Crossing, Woods and Knoll — under a single master HOA. The association describes it as more than 1,000 homes with 21 retention ponds, near Hamble Boulevard and East 116th Street in Fall Creek Township. The homes that sold here in the last two years were mostly built between 1998 and 2004.
The market cooled slightly this year. The MLS shows 41 closings in the last 12 months against 47 the year before, the median slipped from $395,000 to $382,500, and the median time to contract went from 8 to 16 days. Homes still closed at 98.9% of list on average.
What you are actually buying: a roughly 25-year-old house, usually around 2,186 square feet, with Hamilton Southeastern schools and a shopping center at 116th and Brooks School. What you are giving up: a neighborhood pool or clubhouse; the HOA's own site lists common ground and ponds, not a pool.
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Seven sections share an HOA, not a price point. The last two years of MLS sales by section:
The largest share of recent sales: 37 closings in two years. One recent listing showed a 1997 build.
See homes →26 closings in two years. A 2023 listing showed HOA dues of $300 a year covering insurance, maintenance and snow removal; confirm today's figure with the association.
See homes →The smaller sections, 27 closings between them in two years. With that few sales, pull comps from the same section when you can.
See homes →Twenty-one retention ponds are a real maintenance line. Ask the HOA (managed by Tried and True Management) about pond and erosion reserves and any planned special assessments.
See homes →About 16.5 acres at 11780 Brooks School Road, with a playground, basketball, a quarter-mile trail loop and a dock on Mud Creek, per Fishers Parks.
See homes →Sandstone is served by Hamilton Southeastern Schools. Which elementary, intermediate, junior high and high school an address feeds into can change with boundary updates, so confirm the assignment for the specific address with the district.
Hamilton Southeastern Schools has an operating referendum on the November 3, 2026 ballot: up to 36 cents per $100 of assessed value for up to eight years, capped at $47.5 million a year. It would replace the referendum voters extended in 2023 (Indiana Department of Local Government Finance determination, June 23, 2026). Referendum rates sit outside the 1% cap, so budget for it.
The HOA put a rental-restriction amendment to a vote in 2022. If you might rent the house out later, get the current covenants and read the leasing section before you buy.
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. Hamilton County's local income tax is 1.1%, unchanged in the Indiana Department of Revenue's county rate notice effective October 1, 2026. Confirm assessments with the Hamilton County Assessor.
If you want a neighborhood pool, look at Avalon of Fishers or Saxony. If you want a lower entry price, see Sunblest. For all of Fishers, see my Fishers guide.
The median single-family sale across the Sandstone sections was $382,500 over the 12 months through August 2026, on 41 closings, with the middle 80% between $309,000 and $515,000 (MIBOR BLC).
The Sandstone HOA describes its seven sections as more than 1,000 homes with 21 retention ponds.
Yes. One master HOA covers all seven sections and is managed by Tried and True Management. A 2023 MLS listing showed $300 a year; confirm current dues with the association.
The HOA's own site lists common ground and retention ponds, not a pool or clubhouse.
Hamilton Southeastern Schools. Confirm the specific school assignment for the address with the district.
In Fall Creek Township on the east side of Fishers, zip code 46037, near East 116th Street and Brooks School Road.
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.
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