932 W Main St · Greenfield, IN 46140

$199,000

4 bd · 2.5 ba · 2,184 sqft · SingleFamily public records · 24 Days on market

Built 1900 6,186 sqft lot Est $264k · 25% under

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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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +6.6/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice updated home has a lot of space! Over 2000 Square Feet of living space. The roof is new as of April 2017. There are 3 bedrooms, 2 1/2 baths, large eat-in kitchen, laundry room and the master bedroom is on the main level. All appliances stay!

Key facts

• Large eat-in kitchen
• Laundry mud room
• Walk-in closet

Tags

• ROOF REPLACED
• LARGE EAT-IN KITCHEN
• PRIMARY BEDROOM ON MAIN FLOOR
• WALK-IN CLOSET
• ENSUITE BATH
• LAUNDRY MUD ROOM

Property features AI

Finance

• Other: Lot size about 0.14 acre (less than 1/4 acre); Low-maintenance lifestyle: No

Exterior

• Parking: Alley access; Gravel parking; No garage space
• Utilities: Public water; Municipal sewer connected; Electricity connected; Natural gas connected
• Home design: Single-family residence; Two levels; Property is a fixer
• Construction: Wood siding; Block foundation
• Exterior features: Covered patio/porch; Full yard fencing

Interior

• Kitchen: Electric cooktop; Eat-in kitchen
• Bedrooms: Three bedrooms total — one on the main level and two on the upper level
• Bathrooms: Two full bathrooms and one half bathroom; Primary bathroom is a suite
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Eat-in kitchen; Walk-in closet(s); Smoke alarm
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $596 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 4.4% in Greenfield — 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 73/100 on livability (#88 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F.
• Greenfield-Central Community Schools (other): math 47% / reading 45% proficiency, ranked #83 of 301 in IN (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greenfield-Central High School (math 37% / reading 65%, grade D+, #115 of 369 statewide, top 31%, 1,462 students, 35% FRL).
• Market conditions: Rents rising (+2.9%/yr); 481 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($83k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 24y ago; this cycle's ask has dropped $16k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $199k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $196,015 (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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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 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: 1.16% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.84%
• DSCR: 1.57
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $264,264
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 School St	0.38mi	3/2.0 (-1)	2,245 (+3%)	4mo	$55,000	$24	67
450 Sedgewick Dr	0.57mi	4/2.5	2,306 (+6%)	1mo	$302,000	$131	63
272 Van Buren St	0.62mi	4/2.5	2,309 (+6%)	13mo	$363,000	$157	51
297 Van Buren St	0.59mi	3/2.5 (-1)	2,043 (-6%)	12mo	$285,000	$140	47
421 W 4th St	0.44mi	3/2.5 (-1)	1,989 (-9%)	18mo	$148,500	$75	45
705 Wilson St	0.50mi	3/2.0 (-1)	1,897 (-13%)	4mo	$230,000	$121	45
613 W Fourth St	0.35mi	5/2.5 (+1)	2,426 (+11%)	21mo	$270,000	$111	43
253 W Fifth St	0.56mi	3/1.5 (-1)	2,248 (+3%)	21mo	$193,000	$86	42
212 Walnut St	0.61mi	3/2.0 (-1)	2,018 (-8%)	12mo	$215,000	$107	42
681 Sedgewick Ln	0.66mi	3/2.5 (-1)	2,026 (-7%)	17mo	$237,000	$117	38
227 W South St	0.56mi	3/2.0 (-1)	1,955 (-10%)	14mo	$250,000	$128	37
419 Old Glory Dr	0.73mi	3/2.5 (-1)	1,926 (-12%)	12mo	$305,000	$158	32

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.10×
• Total profit: $5,376
• Equity at exit: $29,672

10-year hold

• IRR: 12.0%
• Equity multiple: 1.94×
• Total profit: $52,188
• Equity at exit: $17,206

Cash invested: $55,720 (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 46140

• Rents YoY: 2.9%
• Active inventory: 481
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,306 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$99 /mo · $1,188/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $596

Break-even live

Break-even rent $1,551

Max offer price $199,000

Occupancy floor 69%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
683 Horsetail Dr Greenfield, IN	5.0	3.0	2600	$2,379	$0.92	14d	1	0.49mi
968 Lotus Dr Greenfield, IN	3.0–5.0	2.0–3.0	2049	$2,245	$1.10	1d	8	0.53mi
876 Marsh Aster Dr Greenfield, IN	4.0	2.0	1771	$2,245	$1.27	10d	1	0.60mi
713 Cattail Dr Greenfield, IN	3.0	2.0	1498	$2,045	$1.37	3d	1	0.63mi

Listing history 34 events

1. 2026-06-19
   status $199,000 Pending 24 DOM
2. 2026-06-18
   days on market $199,000 Active 24 DOM
3. 2026-06-17
   days on market $199,000 Active 23 DOM
4. 2026-06-16
   days on market $199,000 Active 22 DOM
5. 2026-06-15
   pricedays on market $199,000 Active 21 DOM
6. 2026-06-13
   days on market $215,000 Active 19 DOM
7. 2026-06-13
   days on market $215,000 Active 18 DOM
8. 2026-06-09
   days on market $215,000 Active 15 DOM
9. 2026-06-08
   days on market $215,000 Active 14 DOM
10. 2026-06-07
    days on market $215,000 Active 13 DOM
11. 2026-06-05
    days on market $215,000 Active 10 DOM
12. 2026-06-03
    days on market $215,000 Active 9 DOM
13. 2026-06-02
    days on market $215,000 Active 8 DOM
14. 2026-06-01
    days on market $215,000 Active 7 DOM
15. 2026-05-31
    days on market $215,000 Active 6 DOM
16. 2026-05-23
    listed $215,000 Active
17. 2017-06-23
    soldstatus $94,900 Sold 251-char remark

    Show marketing remark (251 chars)

    Very nice updated home has a lot of space! Over 2000 Square Feet of living space. The roof is new as of April 2017. There are 3 bedrooms, 2 1/2 baths, large eat-in kitchen, laundry room and the master bedroom is on the main level. All appliances stay!

18. 2017-05-24
    price $94,900 251-char remark

    Show marketing remark (251 chars)

    Very nice updated home has a lot of space! Over 2000 Square Feet of living space. The roof is new as of April 2017. There are 3 bedrooms, 2 1/2 baths, large eat-in kitchen, laundry room and the master bedroom is on the main level. All appliances stay!

19. 2017-05-24
    status Pending 251-char remark

    Show marketing remark (251 chars)

    Very nice updated home has a lot of space! Over 2000 Square Feet of living space. The roof is new as of April 2017. There are 3 bedrooms, 2 1/2 baths, large eat-in kitchen, laundry room and the master bedroom is on the main level. All appliances stay!

20. 2017-05-08
    price $99,900 251-char remark

    Show marketing remark (251 chars)

    Very nice updated home has a lot of space! Over 2000 Square Feet of living space. The roof is new as of April 2017. There are 3 bedrooms, 2 1/2 baths, large eat-in kitchen, laundry room and the master bedroom is on the main level. All appliances stay!

21. 2017-05-03
    listed $109,900 Active 251-char remark

    Show marketing remark (251 chars)

    Very nice updated home has a lot of space! Over 2000 Square Feet of living space. The roof is new as of April 2017. There are 3 bedrooms, 2 1/2 baths, large eat-in kitchen, laundry room and the master bedroom is on the main level. All appliances stay!

22. 2010-05-28
    historical 43-char remark

    Show marketing remark (43 chars)

    Quaint updated home in heart of Greenfield.

23. 2010-05-24
    soldstatus $39,000 43-char remark

    Show marketing remark (43 chars)

    Quaint updated home in heart of Greenfield.

24. 2010-02-01
    listed $39,900 43-char remark

    Show marketing remark (43 chars)

    Quaint updated home in heart of Greenfield.

25. 2010-01-01
    historical
26. 2009-05-27
    listed $49,900
27. 2008-09-05
    soldstatus $92,500
28. 2008-04-09
    listed $89,900
29. 2007-11-12
    soldstatus $20,000
30. 2007-05-03
    listed $39,900
31. 2003-11-25
    soldstatus $36,000
32. 2003-09-17
    listed $39,900
33. 2003-05-20
    historical
34. 2002-11-26
    listed $59,000

ⓘ 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: $1,188 · $99/mo
• Projected year-2 tax: $1,440 · $120/mo
• Expected delta: +$252/yr (+$21/mo · 21.2%)

ⓘ 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 ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $27,668
• − Mortgage interest: −$11,147
• − Property taxes: −$1,188
• − Insurance: −$995
• − Repairs & maintenance: −$2,213
• − Management: −$2,213
• − Depreciation: −$5,789
• Taxable income: $4,122
• Est. tax owed @ 24.0%: −$989
• After-tax cash flow: $6,162/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: Greenfield-Central Community Schools
• NCES district ID: 1804050
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $55,533
• Composite: 40.01/100
• National rank: #3827
• State rank: #83 of 301 in IN

Livability — Greenfield

• Score: 73/100
• State rank: #88
• US rank: #5094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenfield, IN
• County: Hancock County · 59,521 people
• City population: 43,511
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 43,511
• Household income: $83,056
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 795.0

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.67%
• Current HPI: 225.0367
• Rent YoY: ▲ 2.88%
• 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

+264.4% since first listed

19 events — show timeline

• 2026-05-23 Listed $215,000 MIBOR as Distributed by MLS Grid
• 2017-06-23 Sold (MLS) $94,900 MIBOR as Distributed by MLS Grid
• 2017-05-24 Price Changed $94,900 MIBOR as Distributed by MLS Grid
• 2017-05-24 Pending — MIBOR as Distributed by MLS Grid
• 2017-05-08 Price Changed $99,900 MIBOR as Distributed by MLS Grid
• 2017-05-03 Listed $109,900 MIBOR as Distributed by MLS Grid
• 2010-05-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-05-24 Sold (MLS) $39,000 MIBOR as Distributed by MLS Grid
• 2010-02-01 Listed $39,900 MIBOR as Distributed by MLS Grid
• 2010-01-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-05-27 Listed $49,900 MIBOR as Distributed by MLS Grid
• 2008-09-05 Sold (MLS) $92,500 MIBOR as Distributed by MLS Grid
• 2008-04-09 Listed $89,900 MIBOR as Distributed by MLS Grid
• 2007-11-12 Sold (MLS) $20,000 MIBOR as Distributed by MLS Grid
• 2007-05-03 Listed $39,900 MIBOR as Distributed by MLS Grid
• 2003-11-25 Sold (MLS) $36,000 MIBOR as Distributed by MLS Grid
• 2003-09-17 Listed $39,900 MIBOR as Distributed by MLS Grid
• 2003-05-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2002-11-26 Listed $59,000 MIBOR as Distributed by MLS Grid

Property tax history

-1.4%/yr

Latest (2025): $1,188 · -18.7% YoY. Source: county tax records.