Grand Bahama Plan · Whitestown, IN 46075

$289,990

3 bd · 2.0 ba · 1,338 sqft · SingleFamily · 232 Days on market

Good condition ↓ 7% since listing

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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
• Cash flow +6.4/30.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• 1% rule +1.6/10.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Jackson Run Ranches, the lowest-priced low-maintenance ranch homes with optional basements and resort-like amenities. A new home, built just for you, with features and style that reflect the way you live - because you get to pick them. Our floorplans, like the Grand Bahama, deliver on style and convenience. The kitchen island and dining open to the great room to give you plenty of options for hosting your guests. Gather in the great room for movie night or to watch your favorite sports team. In the morning, make a big breakfast in the open, eat-in kitchen. Your first-floor owner's suite is complete with an attached bathroom with walk-in seated shower and a spacious walk-in closet. Additional storage comes standard in the garage, perfect for a workspace. Schedule a tour to learn more about the Grand Bahama today!

Key facts

• Open eat-in kitchen
• Available basements
• Attached bathroom

Tags

• AVAILABLE BASEMENTS
• OPEN EAT-IN KITCHEN
• FIRST-FLOOR OWNER'S SUITE
• ATTACHED BATHROOM
• WALK-IN SEATED SHOWER
• SPACIOUS WALK-IN CLOSET

🏗️ New construction. The $289,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $348,297.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $290k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-598 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (21.0% below list).
• Recommended offer: $229k (21.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#109 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Lebanon Community School Corporation (town): math 41% / reading 44% proficiency, ranked #115 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Perry Worth Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 430 students, 30% FRL); Lebanon Middle School (math 35% / reading 40%, grade F, #146 of 330 statewide, top 46%, 807 students, 46% FRL); Lebanon Senior High School (math 43% / reading 68%, grade C, #75 of 369 statewide, top 20%, 1,027 students, 38% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: Rents flat; 356 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 53d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 898 units permitted in Boone County in 2024 (0 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 $10k of value loss. Plan a longer hold.
• Boone County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 232 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $228,992 (21.0% 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. It's been on market 232 days. Have you received any prior offers? Is the seller open to a 21% 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: 0.66% ✗
• Cap rate: 4.23%
• Cash-on-cash: -7.36%
• DSCR: 0.67
• GRM: 12.7

CMA / ARV

• ARV (median comp): $348,297
• List price: $289,990
• Delta: -16.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2201 Stony Creek Dr	0.11mi	3/2.0	1,533 (+15%)	5mo	$325,000	$212	66
6677 E 225 S	0.44mi	3/2.0	1,250 (-7%)	9mo	$290,000	$232	61
2204 Wonder Crk Dr	0.06mi	3/2.0	1,528 (+14%)	21mo	$339,590	$222	56
2210 Walnut Frk Dr	0.22mi	3/2.0	1,533 (+15%)	17mo	$332,595	$217	51
6672 E 225 S	0.45mi	3/1.0	1,152 (-14%)	13mo	$212,000	$184	41

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 · 0.77% rent growth · sell at horizon

5-year hold

• IRR: -31.6%
• Equity multiple: -0.02×
• Total profit: $-99,515
• Equity at exit: $51,932

10-year hold

• IRR: -50.1%
• Equity multiple: -0.59×
• Total profit: $-155,278
• Equity at exit: $30,114

Cash invested: $97,523 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 1 under contract
• Months of supply: 9.0 mo (11%/mo absorbed)
• Median asking: $320,000 ($218/sqft)
• Median days on market: 128 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +19.5% above current asking $/sqft

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

ZIP-level market 46075

• Home prices YoY: -20.0%
• Rents YoY: 0.8%
• Active inventory: 356
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,290 medium
• Mortgage (P&I): −$1,827
• Tax est. 1.5%: −$435 /mo · $5,224/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $-598

Break-even live

Break-even rent $3,047

Max offer price $261,772

Occupancy floor —

Sensitivity live

Price	-10% $-357	-5% $-478	+0% $-598	+5% $-718	+10% $-839
Rent	-10% $-779	-5% $-688	+0% $-598	+5% $-508	+10% $-417
Rate	-1.0pp $-423	-0.5pp $-509	base $-598	+0.5pp $-688	+1.0pp $-780

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: $87,074
• Closing costs: $10,449
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2881 Cross Branch Dr Whitestown, IN	3.0–4.0	2.5	1835	$2,199	$1.20	68d	4	0.77mi
6389 Wasco Dr Whitestown, IN	3.0	2.5	1802	$2,150	$1.19	53d	1	1.01mi
6296 Granby Dr Whitestown, IN	3.0	2.5	1550	$2,200	$1.42	9d	1	1.02mi

Listing history 27 events

1. 2026-08-08
   days on market $289,990 Active 232 DOM
2. 2026-08-07
   days on market $289,990 Active 231 DOM
3. 2026-08-06
   days on market $289,990 Active 230 DOM
4. 2026-08-05
   days on market $289,990 Active 229 DOM
5. 2026-08-04
   days on market $289,990 Active 228 DOM
6. 2026-08-03
   days on market $289,990 Active 227 DOM
7. 2026-07-31
   days on market $289,990 Active 224 DOM
8. 2026-07-30
   days on market $289,990 Active 223 DOM
9. 2026-07-30
   days on market $289,990 Active 222 DOM
10. 2026-07-28
    days on market $289,990 Active 221 DOM
11. 2026-07-26
    days on market $289,990 Active 219 DOM
12. 2026-07-24
    days on market $289,990 Active 217 DOM
13. 2026-07-23
    days on market $289,990 Active 216 DOM
14. 2026-07-22
    days on market $289,990 Active 215 DOM
15. 2026-07-21
    days on market $289,990 Active 214 DOM
16. 2026-07-20
    days on market $289,990 Active 213 DOM
17. 2026-07-18
    days on market $289,990 Active 211 DOM
18. 2026-07-18
    pricedays on market $289,990 Active 210 DOM
19. 2026-06-07
    days on market $279,990 Active 209 DOM
20. 2026-06-03
    days on market $279,990 Active 205 DOM
21. 2026-06-02
    days on market $279,990 Active 204 DOM
22. 2026-06-01
    days on market $279,990 Active 203 DOM
23. 2026-05-31
    days on market $279,990 Active 202 DOM
24. 2026-04-23
    price $279,990 834-char remark

    Show marketing remark (834 chars)

    Welcome to Jackson Run Ranches, the lowest-priced low-maintenance ranch homes with optional basements and resort-like amenities. A new home, built just for you, with features and style that reflect the way you live - because you get to pick them. Our floorplans, like the Grand Bahama, deliver on style and convenience. The kitchen island and dining open to the great room to give you plenty of options for hosting your guests. Gather in the great room for movie night or to watch your favorite sports team. In the morning, make a big breakfast in the open, eat-in kitchen. Your first-floor owner's suite is complete with an attached bathroom with walk-in seated shower and a spacious walk-in closet. Additional storage comes standard in the garage, perfect for a workspace. Schedule a tour to learn more about the Grand Bahama today!

25. 2026-04-07
    status Active 834-char remark

    Show marketing remark (834 chars)

    Welcome to Jackson Run Ranches, the lowest-priced low-maintenance ranch homes with optional basements and resort-like amenities. A new home, built just for you, with features and style that reflect the way you live - because you get to pick them. Our floorplans, like the Grand Bahama, deliver on style and convenience. The kitchen island and dining open to the great room to give you plenty of options for hosting your guests. Gather in the great room for movie night or to watch your favorite sports team. In the morning, make a big breakfast in the open, eat-in kitchen. Your first-floor owner's suite is complete with an attached bathroom with walk-in seated shower and a spacious walk-in closet. Additional storage comes standard in the garage, perfect for a workspace. Schedule a tour to learn more about the Grand Bahama today!

26. 2026-03-10
    historical 834-char remark

    Show marketing remark (834 chars)

    Welcome to Jackson Run Ranches, the lowest-priced low-maintenance ranch homes with optional basements and resort-like amenities. A new home, built just for you, with features and style that reflect the way you live - because you get to pick them. Our floorplans, like the Grand Bahama, deliver on style and convenience. The kitchen island and dining open to the great room to give you plenty of options for hosting your guests. Gather in the great room for movie night or to watch your favorite sports team. In the morning, make a big breakfast in the open, eat-in kitchen. Your first-floor owner's suite is complete with an attached bathroom with walk-in seated shower and a spacious walk-in closet. Additional storage comes standard in the garage, perfect for a workspace. Schedule a tour to learn more about the Grand Bahama today!

27. 2025-10-13
    listed $299,990 Active 834-char remark

    Show marketing remark (834 chars)

    Welcome to Jackson Run Ranches, the lowest-priced low-maintenance ranch homes with optional basements and resort-like amenities. A new home, built just for you, with features and style that reflect the way you live - because you get to pick them. Our floorplans, like the Grand Bahama, deliver on style and convenience. The kitchen island and dining open to the great room to give you plenty of options for hosting your guests. Gather in the great room for movie night or to watch your favorite sports team. In the morning, make a big breakfast in the open, eat-in kitchen. Your first-floor owner's suite is complete with an attached bathroom with walk-in seated shower and a spacious walk-in closet. Additional storage comes standard in the garage, perfect for a workspace. Schedule a tour to learn more about the Grand Bahama today!

ⓘ 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: $27,479
• − Mortgage interest: −$19,510
• − Property taxes: −$5,224
• − Insurance: −$1,741
• − Repairs & maintenance: −$2,198
• − Management: −$2,198
• − Depreciation: −$10,132
• Taxable loss: −$13,526
• Est. tax savings @ 24.0%: +$3,246
• After-tax cash flow: $-3,929/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 · 6 photos

Good 80/100 Cosmetic rehab Est. rehab $6,690–$20,070 screening

This home is in good condition with a modern kitchen and well-maintained exterior. It has potential for further value increases through cosmetic updates and smart home features.

Value-add opportunities

• Both Paint the exterior walls — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean the gutters — Improves the home's appearance and can attract more buyers or renters. ↑
• Both Install smart home features — Enhances convenience and can increase both resale and rental value. ↑
• Both Add a smart thermostat — Improves energy efficiency and can increase both resale and rental value. ↑
• Both Install smart locks — Enhances security and can increase both resale and rental value. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Hattie B Stokes Elementary School F IN #652/994 Nat'l #24,950/41,679 Middle Lebanon Middle School F IN #146/330 Nat'l #6,708/14,009 High Lebanon Senior High School C IN #75/369 Nat'l #4,365/17,239

Schools (NCES district)

• District: Lebanon Community School Corporation
• NCES district ID: 1805790
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $52,178
• Composite: 36.77/100
• National rank: #4571
• State rank: #115 of 301 in IN

B Composite livability gradescore 73/100

Livability — Whitestown

• Score: 73/100
• State rank: #109
• US rank: #5691

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whitestown, IN
• County: Boone County · 77,877 people
• City population: 9,509
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 9,509
• Household income: $117,002
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 10% of renters

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Population outlook (Boone County) Hauer SSP2

• Today (2025): 77,877 people
• By 2030: 85,185 · +9.4%
• By 2040: 99,753 · +28.1%
• By 2050: 113,572 · +45.8%
• By 2075: 145,674 · +87.1%
• By 2100: 161,165 · +106.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Asian 4% Hispanic / Latino 3% Black 3%
• Common ancestry: Italian 4% Romanian 3% Slovak 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Other Indo-European 5% Spanish 2% Chinese 1%

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Political lean MEDSL · Boone

• 2024 margin: R (+16.0) · D 41.0% · R 57.0% · Other 2.0%
• 2008→2024 swing: +9.8pp toward D · 2008: -25.8pp · 2024: -16.0pp
• All cycles: 2024: R+16.0 2020: R+18.4 2016: R+29.5 2012: R+37.8 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.51%
• Current HPI: 198.3353
• Rent YoY: ▲ 0.77%
• Metro: Indianapolis-Carmel-Anderson, IN
• 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

-6.7% since first listed

4 events — show timeline

• 2026-04-23 Price Changed $279,990 Zillow
• 2026-04-07 Relisted — Zillow
• 2026-03-10 Delisted — Zillow
• 2025-10-13 Listed $299,990 Zillow