1493 Hideaway Cir · Brownsburg, IN 46112

$300,000

2 bd · 2.0 ba · 1,260 sqft · MultiFamily public records · 5 Days on market

Built 2020 5,227 sqft lot $100/mo HOA · 7% of rent

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.1/30.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• DSCR +6.0/10.0
• 1% rule +4.8/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Looking for a gorgeous, low maintenance shared patio home in a quiet location? Here you go! This shared patio home offers two large bedrooms. The primary bathroom has an easy to step in shower, with double vanity sinks. The hall bath has a full tub/shower and a private window for natural light. The kitchen flows nicely with great workable space including the island/breakfast bar and is open to the dining room and living room, which provides perfect open space for entertaining! The south facing sliding glass patio door and large windows in the living room, give so much natural light! The patio off of the dining room is covered, and perfect for those rainy days, or those beautiful su

Key facts

• Island breakfast bar
• Covered patio
• Double vanity sinks

Tags

• EASY TO STEP IN SHOWER
• DOUBLE VANITY SINKS
• ISLAND BREAKFAST BAR
• COVERED PATIO
• BUILT IN SURROUND SYSTEM
• QUICK DRIVE TO B&O TRAIL

Property features AI

Finance

• Other: Lot approximately 0.12 acres (<1/4 acre); Ownership interest: mandatory fee
• HOA & community: HOA with a $100 monthly fee; HOA provides lawn care, snow removal, and trash service; Association amenities include snow removal and trash service

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Municipal sewer
• Home design: Single-family residence; Attached property; One story; Has a view
• Construction: Vinyl with brick exterior; Slab foundation
• Exterior features: Covered patio/porch; Sidewalks; Pond on the property (waterfront)

Interior

• Kitchen: Dishwasher; Electric oven; Microwave with hood; Garbage disposal; Refrigerator; Kitchen island; Pantry; Breakfast bar
• Bedrooms: 2 bedrooms on the main level; Primary bedroom with walk-in closet
• Bathrooms: 2 full bathrooms; Primary bath with full shower stall and double sinks
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Attic with pull-down stairs; Breakfast bar; Vaulted ceilings; Kitchen island; Pantry; Walk-in closet(s); Painted woodwork
• Laundry & utility: Washer and dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $293k (2.3% below list).
• Recommended offer: $293k (2.3% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.8% in Brownsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#61 in IN, #4,105 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Brownsburg Community School Corporation (suburban): math 72% / reading 72% proficiency, ranked #2 of 301 in IN (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+6.3%/yr); 328 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).
• This rent runs 31% of the median local income ($113k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Hendricks County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $293,000 (2.3% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.56%
• Cash-on-cash: 4.53%
• DSCR: 1.20
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.31% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.78×
• Total profit: $-18,349
• Equity at exit: $44,731

10-year hold

• IRR: 7.5%
• Equity multiple: 1.65×
• Total profit: $54,290
• Equity at exit: $25,939

Cash invested: $84,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46112

• Rents YoY: 6.3%
• Active inventory: 328
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $2,930 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$200 /mo · $2,395/yr
• Insurance: −$125
• HOA: −$100
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $317

Break-even live

Break-even rent $2,529

Max offer price $300,000

Occupancy floor 84%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,930
Total (2 units)			$2,930

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2860 Hayward Ave Brownsburg, IN	2.0	2.0	1457	$2,212	$1.52	2d	6	1.31mi
28 Parkwood Dr Brownsburg, IN	3.0	2.0	1422	$1,760	$1.24	18d	1	1.32mi
6905 Legacy Park Dr Brownsburg, IN	1.0–3.0	1.0–2.0	1078	$1,601	$1.49	2d	15	1.35mi

HOA detail

• Monthly dues: $100 · $1,200/yr

Listing history 2 events

1. 2026-04-29
   status Pending
2. 2026-04-24
   listed $300,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $2,395 · $200/mo
• Projected year-2 tax: $2,472 · $206/mo
• Expected delta: +$78/yr (+$6/mo · 3.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,160
• − Mortgage interest: −$16,805
• − Property taxes: −$2,395
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,813
• − Management: −$2,813
• − HOA: −$1,200
• − Depreciation: −$8,727
• Taxable loss: −$1,092
• Est. tax savings @ 24.0%: +$262
• After-tax cash flow: $4,065/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Brownsburg Community School Corporation
• NCES district ID: 1801020
• Math proficiency: 72% ▼ -5.00%
• Reading proficiency: 72% ▼ -4.00%
• Median HH income: $75,304
• Composite: 63.45/100
• National rank: #616
• State rank: #2 of 301 in IN

Livability — Brownsburg

• Score: 75/100
• State rank: #61
• US rank: #4105

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brownsburg, IN
• County: Hendricks County · 143,373 people
• City population: 44,220
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 44,220
• Household income: $112,565
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 614.0

Population outlook (Hendricks County) Hauer SSP2

• Today (2025): 187,418 people
• By 2030: 201,494 · +7.5%
• By 2040: 228,487 · +21.9%
• By 2050: 253,068 · +35.0%
• By 2075: 308,920 · +64.8%
• By 2100: 336,510 · +79.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 10% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Slovak 3% Iranian 2% Romanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Hendricks

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.7%
• 2008→2024 swing: +1.9pp toward D · 2008: -23.4pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+23.9 2016: R+34.2 2012: R+34.9 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.99%
• Current HPI: 217.3787
• Rent YoY: ▲ 6.31%
• Metro: Indianapolis-Carmel-Anderson, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

2 events — show timeline

• 2026-04-29 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-24 Listed $300,000 MIBOR as Distributed by MLS Grid

Property tax history

+55.5%/yr

Latest (2025): $2,395 · +23.7% YoY. Source: county tax records.