4217 Cartersburg Rd · Cartersburg, IN 46168

$50,000

3 bd · 2.0 ba · 2,512 sqft · SingleFamily public records · 21 Days on market

Built 1900 4.03 ac lot ↓ 58% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 3 bedroom and 2 full bathroom home in wonderful Plainfield! This home is country living at it's finest while living close to town! Over 4 acres, with a 2 car detached garage, and a barn! The roof is only 7 years old and is a 50 year roof! The Furnace, A/C, and water heater are all new as well! Don't miss this wonderful opportunity to come put your own TLC into this home and make it your own! Be sure to check out the 3D virtual tour!

Key facts

• 4.03 acre lot
• 2 garage spots
• Built 1900

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Private water; Septic system
• Home design: Single-family residence; Attached property; One-and-a-half stories
• Construction: Block foundation; Other construction materials
• Exterior features: Approximately 4.03-acre lot (3–5 acres range); Directions: From US 40 turn onto Cartersburg Rd; property is 1.1 miles on the right

Interior

• Kitchen: Dishwasher; Gas oven; Refrigerator
• Bedrooms: 3 bedrooms (all on upper level)
• Bathrooms: 2 full bathrooms (1 on main level, 1 on upper level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Breakfast bar; Wood-burning fireplace (1)
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Mill Creek Community School Corporation (rural): math 47% / reading 54% proficiency, ranked #43 of 301 in IN (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.6%/yr); 284 active listings in the ZIP; solid renter incomes; 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 $346 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 3.82% ✓
• Cap rate: 31.76%
• Cash-on-cash: 90.94%
• DSCR: 5.05
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $341,632
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4217 Cartersburg Rd	0.00mi	3/2.0	2,512 (0%)	0mo	$341,000	$136	100
3360 Main St	0.09mi	3/1.5	2,592 (+3%)	7mo	$270,000	$104	82

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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: 92.5%
• Equity multiple: 5.34×
• Total profit: $60,820
• Equity at exit: $7,455

10-year hold

• IRR: 95.5%
• Equity multiple: 11.40×
• Total profit: $145,578
• Equity at exit: $4,323

Cash invested: $14,000 (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 46168

• Rents YoY: 3.6%
• Active inventory: 284
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,912 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$166 /mo · $1,997/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $1,061

Break-even live

Break-even rent $569

Max offer price $50,000

Occupancy floor 40%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-01
   status Pending
2. 2026-04-10
   listed $50,000 Active
3. 2021-09-01
   status Active 452-char remark

   Show marketing remark (452 chars)

   Welcome to this 3 bedroom and 2 full bathroom home in wonderful Plainfield! This home is country living at it's finest while living close to town! Over 4 acres, with a 2 car detached garage, and a barn! The roof is only 7 years old and is a 50 year roof! The Furnace, A/C, and water heater are all new as well! Don't miss this wonderful opportunity to come put your own TLC into this home and make it your own! Be sure to check out the 3D virtual tour!

4. 2021-08-31
   soldstatus $260,000 Closed 452-char remark

   Show marketing remark (452 chars)

   Welcome to this 3 bedroom and 2 full bathroom home in wonderful Plainfield! This home is country living at it's finest while living close to town! Over 4 acres, with a 2 car detached garage, and a barn! The roof is only 7 years old and is a 50 year roof! The Furnace, A/C, and water heater are all new as well! Don't miss this wonderful opportunity to come put your own TLC into this home and make it your own! Be sure to check out the 3D virtual tour!

5. 2021-07-30
   status Pending 452-char remark

   Show marketing remark (452 chars)

   Welcome to this 3 bedroom and 2 full bathroom home in wonderful Plainfield! This home is country living at it's finest while living close to town! Over 4 acres, with a 2 car detached garage, and a barn! The roof is only 7 years old and is a 50 year roof! The Furnace, A/C, and water heater are all new as well! Don't miss this wonderful opportunity to come put your own TLC into this home and make it your own! Be sure to check out the 3D virtual tour!

6. 2021-07-28
   listed $249,900 Active 452-char remark

   Show marketing remark (452 chars)

   Welcome to this 3 bedroom and 2 full bathroom home in wonderful Plainfield! This home is country living at it's finest while living close to town! Over 4 acres, with a 2 car detached garage, and a barn! The roof is only 7 years old and is a 50 year roof! The Furnace, A/C, and water heater are all new as well! Don't miss this wonderful opportunity to come put your own TLC into this home and make it your own! Be sure to check out the 3D virtual tour!

7. 2012-04-20
   historical 452-char remark

   Show marketing remark (452 chars)

   This property needs some work, but has SO MUCH potential! The 2500+, 3 BD/2BA home turn of the century home has many of the original & unique features- hardwood floors, leaded glass doors & windows, really beautiful! Kitchen has been updated but needs all appliances. Plenty of room for family & animals on 4 + acres, barn & 2 car detached garage. Updates include: A/C, Heat pump- 3 yrs. Hot water heater 5 yrs. Windows 4 yrs. Must See!

8. 2012-04-19
   soldstatus $103,000 452-char remark

   Show marketing remark (452 chars)

   This property needs some work, but has SO MUCH potential! The 2500+, 3 BD/2BA home turn of the century home has many of the original & unique features- hardwood floors, leaded glass doors & windows, really beautiful! Kitchen has been updated but needs all appliances. Plenty of room for family & animals on 4 + acres, barn & 2 car detached garage. Updates include: A/C, Heat pump- 3 yrs. Hot water heater 5 yrs. Windows 4 yrs. Must See!

9. 2011-12-08
   listed $119,900 452-char remark

   Show marketing remark (452 chars)

   This property needs some work, but has SO MUCH potential! The 2500+, 3 BD/2BA home turn of the century home has many of the original & unique features- hardwood floors, leaded glass doors & windows, really beautiful! Kitchen has been updated but needs all appliances. Plenty of room for family & animals on 4 + acres, barn & 2 car detached garage. Updates include: A/C, Heat pump- 3 yrs. Hot water heater 5 yrs. Windows 4 yrs. Must See!

ⓘ 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: $1,997 · $166/mo
• Projected year-2 tax: $1,997 · $166/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,943
• − Mortgage interest: −$2,801
• − Property taxes: −$1,997
• − Insurance: −$250
• − Repairs & maintenance: −$1,835
• − Management: −$1,835
• − Depreciation: −$1,455
• Taxable income: $12,769
• Est. tax owed @ 24.0%: −$3,065
• After-tax cash flow: $9,666/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: Mill Creek Community School Corporation
• NCES district ID: 1806660
• Math proficiency: 47% ▼ -17.00%
• Reading proficiency: 54% ▼ -10.00%
• Median HH income: $59,598
• Composite: 44.09/100
• National rank: #2872
• State rank: #43 of 301 in IN

Livability — Cartersburg

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Cartersburg, IN
• County: Hendricks County · 143,373 people
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 38,826
• Household income: $90,000
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1029.0

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 (76%)
• Race & ethnicity: White 76% Black 9% Two or more races 8% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Lithuanian 1% Romanian 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 3% 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: ▼ -136.23%
• Current HPI: 205.5963
• Rent YoY: ▲ 3.65%
• 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

-58.3% since first listed

9 events — show timeline

• 2026-05-01 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-10 Listed $50,000 MIBOR as Distributed by MLS Grid
• 2021-09-01 Relisted — MIBOR as Distributed by MLS Grid
• 2021-08-31 Sold (MLS) $260,000 MIBOR as Distributed by MLS Grid
• 2021-07-30 Pending — MIBOR as Distributed by MLS Grid
• 2021-07-28 Listed $249,900 MIBOR as Distributed by MLS Grid
• 2012-04-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-04-19 Sold (MLS) $103,000 MIBOR as Distributed by MLS Grid
• 2011-12-08 Listed $119,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $1,997 · +7.7% YoY. Source: county tax records.