278 Broadmoor Bnd · Pittsboro, IN 46167

$256,000

4 bd · 2.5 ba · 1,704 sqft · SingleFamily public records · 8 Days on market

Built 2002 7,841 sqft lot Est $310k · 17% under ↓ 7% since listing

---

Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +13.2/30.0
• Schools +5.7/10.0
• DSCR +4.0/10.0
• Livability +3.6/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this well-maintained 4-bedroom, 2.5-bath residence offering 1,704 sq ft of comfortable living space. MISSING FRONT PIECE OF SIDING WILL BE REPAIRED. The inviting living room features a cozy fireplace, perfect for relaxing evenings. The spacious primary suite includes a private bath and a large walk-in closet. Enjoy the convenience of an upstairs laundry area with washer and dryer. The kitchen offers a functional layout complete with a pantry for added storage. An attached garage adds everyday convenience to this move-in ready home. Home appraised at 264k

Key facts

• Pantry
• Attached garage
• Private bath

Tags

• PRIVATE BATH
• LARGE WALK-IN CLOSET
• UPSTAIRS LAUNDRY AREA
• FUNCTIONAL LAYOUT
• PANTRY
• ATTACHED GARAGE

Property features AI

Finance

• Other: Vacant

Exterior

• Parking: Attached garage; Garage faces front; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Two-story; Built in 2002
• Construction: 2002 construction
• Exterior features: Neighborhood view

Interior

• Kitchen: Gas range; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fan(s)
• Interior features: Pantry; Walk-in closet(s); Living room fireplace
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $256k.

Deal economics

• At list price, monthly cash flow is $-6 ($-72/yr) — negative.
• To cash-flow at today's rent, offer at most $255k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (20.0% below list).
• Recommended offer: $205k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.0% in Pittsboro — 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 72/100 on livability (#123 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• North West Hendricks Schools (rural): math 61% / reading 69% proficiency, ranked #7 of 301 in IN (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Pittsboro Primary School (373 students, 27% FRL); Tri-West Middle School (math 56% / reading 66%, grade B+, #12 of 330 statewide, top 3%, 444 students, 28% FRL); Tri-West Senior High School (math 37% / reading 77%, grade C, #64 of 369 statewide, top 18%, 615 students, 24% FRL).
• Market conditions: 62 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $204,900 (20.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.10%
• DSCR: 1.00
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $310,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
237 Broadmoor	0.06mi	3/2.5 (-1)	1,580 (-7%)	2mo	$280,000	$177	78
38 Lasalle Ln	0.06mi	3/2.5 (-1)	1,540 (-10%)	1mo	$265,000	$172	75
27 Lasalle Ln	0.04mi	3/2.0 (-1)	1,552 (-9%)	2mo	$245,000	$158	75
19 Lynn Ct	0.10mi	3/2.0 (-1)	1,560 (-8%)	2mo	$250,000	$160	73
332 Brixton Woods East Dr	0.18mi	3/2.5 (-1)	1,577 (-8%)	4mo	$294,000	$186	71
440 Lockerbie Ln	0.26mi	3/2.5 (-1)	1,856 (+9%)	3mo	$300,000	$162	65
224 Woodland Pl	0.52mi	3/2.0 (-1)	1,724 (+1%)	2mo	$339,500	$197	65
842 Declaration Dr	0.54mi	3/2.0 (-1)	1,747 (+2%)	3mo	$318,000	$182	61
53 Morse Cir	0.25mi	3/2.0 (-1)	1,458 (-14%)	2mo	$255,000	$175	56
382 Karen Dr	0.40mi	3/2.5 (-1)	1,901 (+12%)	3mo	$389,000	$205	55
866 Declaration Dr	0.65mi	3/2.0 (-1)	1,804 (+6%)	1mo	$334,900	$186	52
218 Deer Trace Ct	0.59mi	3/2.0 (-1)	1,832 (+8%)	4mo	$351,900	$192	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -16.5%
• Equity multiple: 0.42×
• Total profit: $-41,925
• Equity at exit: $38,170

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-37,237
• Equity at exit: $22,134

Cash invested: $71,680 (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 46167

• Home prices YoY: -18.8%
• Active inventory: 62
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,049 medium
• Mortgage (P&I): −$1,342
• Tax from tax record: −$176 /mo · $2,107/yr
• Insurance: −$107
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $-6

Break-even live

Break-even rent $2,057

Max offer price $254,934

Occupancy floor 95%

Sensitivity live

Price	-10% $139	-5% $66	+0% $-6	+5% $-78	+10% $-151
Rent	-10% $-168	-5% $-87	+0% $-6	+5% $75	+10% $156
Rate	-1.0pp $123	-0.5pp $59	base $-6	+0.5pp $-72	+1.0pp $-140

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: $64,000
• Closing costs: $7,680
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
675 Albermarle Dr Pittsboro, IN	3.0	2.0	1611	$2,049	$1.27	45d	1	0.17mi

Listing history 15 events

1. 2026-06-22
   price $256,000 Active 8 DOM
2. 2026-06-21
   days on market $258,000 Active 8 DOM
3. 2026-06-18
   days on market $258,000 Active 5 DOM
4. 2026-06-17
   days on market $258,000 Active 4 DOM
5. 2026-06-16
   days on market $258,000 Active 3 DOM
6. 2026-06-15
   pricedays on marketlisting id $258,000 Active 2 DOM
7. 2026-06-02
   days on market $260,000 Active 36 DOM
8. 2026-06-01
   days on market $260,000 Active 35 DOM
9. 2026-05-31
   days on market $260,000 Active 34 DOM
10. 2026-04-26
    status Pending
11. 2026-04-17
    price $255,000
12. 2026-04-10
    price $259,999
13. 2026-04-06
    price $264,000
14. 2026-03-30
    price $269,000
15. 2026-03-26
    listed $275,000 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: $2,107 · $176/mo
• Projected year-2 tax: $2,142 · $178/mo
• Expected delta: +$34/yr (+$3/mo · 1.6%)

ⓘ 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 ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,588
• − Mortgage interest: −$14,340
• − Property taxes: −$2,107
• − Insurance: −$1,280
• − Repairs & maintenance: −$1,967
• − Management: −$1,967
• − Depreciation: −$7,447
• Taxable loss: −$4,520
• Est. tax savings @ 24.0%: +$1,085
• After-tax cash flow: $1,012/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: North West Hendricks Schools
• NCES district ID: 1808100
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 69% ▼ -3.00%
• Median HH income: $64,588
• Composite: 56.59/100
• National rank: #1145
• State rank: #7 of 301 in IN

Livability — Pittsboro

• Score: 72/100
• State rank: #123
• US rank: #6497

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: Pittsboro, IN
• City population: 7,132
• Population (ZIP): 7,132

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 (86%)
• Race & ethnicity: White 86% Two or more races 9% Hispanic / Latino 4% Black 3%
• Common ancestry: Iranian 4% Italian 3% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -50.65%
• Current HPI: 219.4411
• Rent YoY: —
• Metro: —
• 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

-7.3% since first listed

6 events — show timeline

• 2026-04-26 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $255,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $259,999 NIRA MLS as Distributed by MLS Grid
• 2026-04-06 Price Changed $264,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-30 Price Changed $269,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-26 Listed $275,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2025): $2,107 · +10.0% YoY. Source: county tax records.