Aspen Plan · Westfield, IN 46069

$435,700

4 bd · 2.5 ba · 2,353 sqft · SingleFamily · 659 Days on market

Excellent condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +5.9/10.0
• Cash flow +5.4/30.0
• Condition / age +4.8/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Olthof Homes presents the Aspen. Open the front door to 2,353 sf of well designed living space. The spacious, welcoming foyer, showcases a flex room for hobbies, a home office or a music room. The room may be designed with glass French doors. The powder bath is situated just around the corner. This open main floorplan includes a large family room and spacious kitchen with a walk-in pantry. The home features four bedrooms, 2.5 baths, and a loft area upstairs as well. Upgrade options include an extended or 3 car garage, a sunroom or covered outdoor living space, and designer kitchen or deluxe owner's bath. Olthof Homes builds high performance energy efficient homes with a third-party certified energy rating. 10-year structural warranty, 4-year workmanship on the roof, Low E windows, and Industry Best Customer Care program.

Key facts

• 2 garage spots
• Listed 658 days

🏗️ New construction. The $435,700 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $449,337.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $436k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-988 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $306k (29.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (38.5% below list).
• Recommended offer: $268k (38.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#140 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Westfield-Washington Schools (suburban): math 58% / reading 64% proficiency, ranked #10 of 301 in IN (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Monon Trail Elementary School (math 55% / reading 43%, grade D, #301 of 994 statewide, top 30%, 572 students, 29% FRL); Westfield Middle School (math 46% / reading 62%, grade B-, #31 of 330 statewide, top 9%, 1,429 students, 18% FRL); Westfield High School (math 61% / reading 85%, grade B+, #8 of 369 statewide, top 2%, 2,665 students, 18% FRL).
• Market conditions: 231 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 55d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,661 units permitted in Hamilton County in 2024 (1,528 in 5+ unit buildings).
• At $2,680/mo this rent would consume 45% of the median local household income ($71k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Hamilton County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 659 days — a 12% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask is 11% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $267,996 (38.5% 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. It's been on market 659 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.60% ✗
• Cap rate: 3.65%
• Cash-on-cash: -9.42%
• DSCR: 0.58
• GRM: 14.0

CMA / ARV

• ARV (median comp): $449,337
• List price: $435,700
• Delta: -3.03%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1353 Mahoning Rd	0.04mi	4/2.5	2,496 (+6%)	3mo	$464,000	$186	85
19824 Atwater Ave	0.12mi	4/2.5	2,468 (+5%)	5mo	$452,000	$183	82
1479 Mahoning Rd	0.13mi	4/2.5	2,496 (+6%)	6mo	$460,763	$185	79
1364 Folsome Ave	0.15mi	3/2.0 (-1)	2,182 (-7%)	1mo	$467,000	$214	73
19373 Mcdonald Pl	0.60mi	3/3.0 (-1)	2,308 (-2%)	0mo	$545,000	$236	62
1284 Drury Dr	0.59mi	3/3.0 (-1)	2,225 (-5%)	5mo	$495,000	$222	52
19407 Wilkey Cir	0.52mi	3/3.0 (-1)	2,550 (+8%)	5mo	$537,000	$211	51
19302 Mcdonald Pl	0.55mi	3/2.5 (-1)	2,210 (-6%)	12mo	$542,000	$245	49
19355 Mcdonald Pl	0.59mi	3/3.0 (-1)	2,550 (+8%)	4mo	$542,000	$213	48
19613 Sumrall Pl	0.56mi	3/2.0 (-1)	2,024 (-14%)	3mo	$513,000	$253	41
19642 Mcdonald Pl	0.67mi	3/2.0 (-1)	2,012 (-14%)	0mo	$450,000	$224	37
19607 Mcdonald Pl	0.70mi	3/2.0 (-1)	2,024 (-14%)	10mo	$475,000	$235	28

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: -33.1%
• Equity multiple: -0.08×
• Total profit: $-135,704
• Equity at exit: $66,998

10-year hold

• IRR: -39.9%
• Equity multiple: -0.58×
• Total profit: $-199,040
• Equity at exit: $38,850

Cash invested: $125,814 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 20 active · 29 under contract
• Months of supply: 4.3 mo (23%/mo absorbed)
• Median asking: $505,791 ($187/sqft)
• Median days on market: 45 d
• This list price: 5% of active listings are priced below it
• ARV vs active asking: +2.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46069

• Home prices YoY: -28.2%
• Active inventory: 231
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $2,680 high
• Mortgage (P&I): −$2,356
• Tax est. 1.5%: −$562 /mo · $6,740/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $-988

Break-even live

Break-even rent $3,931

Max offer price $306,358

Occupancy floor —

Sensitivity live

Price	-10% $-678	-5% $-833	+0% $-988	+5% $-1,143	+10% $-1,299
Rent	-10% $-1,200	-5% $-1,094	+0% $-988	+5% $-882	+10% $-776
Rate	-1.0pp $-762	-0.5pp $-874	base $-988	+0.5pp $-1,105	+1.0pp $-1,223

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: $112,334
• Closing costs: $13,480
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19776 Baisley Trl Westfield, IN	3.0	3.0	2730	$3,500	$1.28	184d	1	0.77mi
18812 Mithoff Ln Westfield, IN	5.0	3.0	2288	$2,495	$1.09	129d	1	0.89mi
18783 Mithoff Ln Westfield, IN	4.0	2.5	1803	$2,250	$1.25	120d	1	0.93mi
1048 Bald Tree Dr Westfield, IN	5.0	3.0	2247	$2,400	$1.07	55d	1	0.96mi
18743 Mithoff Ln Westfield, IN	4.0	2.5	1868	$2,400	$1.28	10d	1	0.97mi
18743 Mithoff Ln Westfield, IN	4.0	2.5	1868	$2,400	$1.28	32d	1	0.97mi
18612 Walsh Way Westfield, IN	4.0	2.0	1803	$2,450	$1.36	10d	1	1.03mi
18612 Walsh Way Westfield, IN	4.0	2.5	1803	$2,450	$1.36	87d	1	1.03mi
18612 Walsh Way Westfield, IN	4.0	2.0	1803	$2,450	$1.36	13d	1	1.03mi
197 Cape May Dr Westfield, IN	3.0	2.5	2319	$3,200	$1.38	26d	1	1.14mi
18661 Moray St Sheridan, IN	3.0	2.5	1896	$2,350	$1.24	128d	1	1.21mi
19441 Beruna Way Westfield, IN	5.0	3.0	2480	$3,100	$1.25	128d	1	1.37mi
19499 Jacone Ln Westfield, IN	5.0	3.0	3134	$3,395	$1.08	10d	1	1.48mi

Listing history 50 events

1. 2026-11-08
   days on market $435,700 Active 659 DOM
2. 2026-11-07
   days on market $435,700 Active 658 DOM
3. 2026-11-06
   days on market $435,700 Active 657 DOM
4. 2026-11-05
   days on market $435,700 Active 656 DOM
5. 2026-11-04
   days on market $435,700 Active 655 DOM
6. 2026-11-02
   days on market $435,700 Active 653 DOM
7. 2026-11-01
   days on market $435,700 Active 652 DOM
8. 2026-10-31
   days on market $435,700 Active 651 DOM
9. 2026-10-30
   days on market $435,700 Active 650 DOM
10. 2026-10-29
    days on market $435,700 Active 649 DOM
11. 2026-10-28
    days on market $435,700 Active 648 DOM
12. 2026-10-27
    days on market $435,700 Active 647 DOM
13. 2026-10-26
    days on market $435,700 Active 646 DOM
14. 2026-10-25
    days on market $435,700 Active 645 DOM
15. 2026-10-24
    days on market $435,700 Active 644 DOM
16. 2026-10-23
    days on market $435,700 Active 643 DOM
17. 2026-10-22
    days on market $435,700 Active 642 DOM
18. 2026-10-21
    days on market $435,700 Active 641 DOM
19. 2026-10-20
    days on market $435,700 Active 640 DOM
20. 2026-10-19
    days on market $435,700 Active 639 DOM
21. 2026-10-18
    days on market $435,700 Active 638 DOM
22. 2026-10-17
    days on market $435,700 Active 637 DOM
23. 2026-10-16
    days on market $435,700 Active 636 DOM
24. 2026-10-15
    days on market $435,700 Active 635 DOM
25. 2026-10-14
    days on market $435,700 Active 634 DOM
26. 2026-10-13
    days on market $435,700 Active 633 DOM
27. 2026-10-12
    days on market $435,700 Active 632 DOM
28. 2026-10-11
    days on market $435,700 Active 631 DOM
29. 2026-10-10
    days on market $435,700 Active 630 DOM
30. 2026-10-09
    days on market $435,700 Active 629 DOM
31. 2026-10-08
    days on market $435,700 Active 628 DOM
32. 2026-10-07
    days on market $435,700 Active 627 DOM
33. 2026-10-06
    days on market $435,700 Active 626 DOM
34. 2026-10-05
    days on market $435,700 Active 625 DOM
35. 2026-10-04
    days on market $435,700 Active 624 DOM
36. 2026-10-04
    days on market $435,700 Active 623 DOM
37. 2026-10-02
    days on market $435,700 Active 622 DOM
38. 2026-10-01
    days on market $435,700 Active 621 DOM
39. 2026-09-30
    days on market $435,700 Active 620 DOM
40. 2026-09-29
    days on market $435,700 Active 619 DOM
41. 2026-09-28
    days on market $435,700 Active 618 DOM
42. 2026-09-27
    days on market $435,700 Active 617 DOM
43. 2026-09-25
    days on market $435,700 Active 615 DOM
44. 2026-09-24
    days on market $435,700 Active 614 DOM
45. 2026-09-23
    days on market $435,700 Active 613 DOM
46. 2026-09-22
    days on market $435,700 Active 612 DOM
47. 2026-09-21
    days on market $435,700 Active 611 DOM
48. 2026-09-20
    days on market $435,700 Active 610 DOM
49. 2026-09-19
    days on market $435,700 Active 609 DOM
50. 2026-09-18
    days on market $435,700 Active 608 DOM

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

Taxation est. · year 1

• Rental income: $32,160
• − Mortgage interest: −$25,170
• − Property taxes: −$6,740
• − Insurance: −$2,247
• − Repairs & maintenance: −$2,573
• − Management: −$2,573
• − Depreciation: −$13,072
• Taxable loss: −$20,214
• Est. tax savings @ 24.0%: +$4,851
• After-tax cash flow: $-7,006/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.

Condition & rehab AI · 1 photo

Excellent 95/100 None rehab

This single-family home is in excellent condition with no visible repairs or maintenance needed. It offers a good investment opportunity with potential for minor updates to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in bathrooms and kitchen — Improves functionality and aesthetics ↑
• Both New kitchen appliances — Enhances functionality and aesthetics ↑
• Both New lighting fixtures — Enhances functionality and aesthetics ↑

D Composite school gradezoned avg 59/100

Zoned Schools

Elementary Monon Trail Elementary School D IN #301/994 Nat'l #13,933/41,679 Middle Westfield Middle School B- IN #31/330 Nat'l #2,699/14,009 High Westfield High School B+ IN #8/369 Nat'l #1,820/17,239

Schools (NCES district)

• District: Westfield-Washington Schools
• NCES district ID: 1813080
• Math proficiency: 58% ▼ -9.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $82,682
• Composite: 55.01/100
• National rank: #1295
• State rank: #10 of 301 in IN

B Composite livability gradescore 71/100

Livability — Westfield

• Score: 71/100
• State rank: #140
• US rank: #7263

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westfield, IN
• County: Hamilton · 381,938 people
• City population: 48,901
• Metro: Indianapolis-Carmel-Greenwood, IN
• Population (ZIP): 6,924
• Household income: $70,784
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 8% of renters

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Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 381,938 people
• By 2030: 417,496 · +9.3%
• By 2040: 486,684 · +27.4%
• By 2050: 549,805 · +44.0%
• By 2075: 687,078 · +79.9%
• By 2100: 754,495 · +97.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 2%
• Languages at home: 99% English-only · Spanish 1%

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Political lean MEDSL · Hamilton

• 2024 margin: Lean R (+6.1) · D 46.0% · R 52.1% · Other 1.9%
• 2008→2024 swing: +16.2pp toward D · 2008: -22.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+6.8 2016: R+19.6 2012: R+34.3 2008: R+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.24%
• Current HPI: 224.338
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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

+6.8% since first listed

20 events — show timeline

• 2026-05-05 Price Changed $420,400 Zillow
• 2026-04-14 Price Changed $416,100 Zillow
• 2026-03-17 Price Changed $411,900 Zillow
• 2026-01-08 Price Changed $409,800 Zillow
• 2025-11-07 Relisted — Zillow
• 2025-11-07 Delisted — Zillow
• 2025-11-05 Relisted — Zillow
• 2025-11-05 Delisted — Zillow
• 2025-10-31 Relisted — Zillow
• 2025-10-31 Delisted — Zillow
• 2025-10-10 Relisted — Zillow
• 2025-08-27 Delisted — Zillow
• 2025-04-08 Price Changed $405,700 Zillow
• 2025-03-03 Price Changed $401,600 Zillow
• 2025-03-02 Price Changed $379,500 Zillow
• 2025-02-02 Price Changed $399,500 Zillow
• 2025-02-01 Price Changed $379,500 Zillow
• 2024-12-26 Price Changed $397,500 Zillow
• 2024-12-25 Price Changed $375,700 Zillow
• 2024-12-06 Listed $393,500 Zillow