524 Carroll Dr #1704 · Westfield, IN 46074

$245,000

3 bd · 1.5 ba · 1,276 sqft · Condo public records · 42 Days on market

Built 2001 $192/sqft · at area comps Est $242k · at est. $245/mo HOA · 10% of rent

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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).

• Cash flow +16.2/30.0
• ARV discount +6.9/15.0
• Schools +5.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Gorgeous townhome offered in Westfield’s Mapleton at Countryside, just minutes from the Monon and US-31! Enjoy your open-concept living area complete with a cozy gas fireplace and TONS of natural light. Kitchen provides updated appliances, plenty of counterspace and a charming dining nook. This home also includes TWO Master Suites, each with walk-in closets and private bathrooms, and laundry on the second level. The front landscape is well-manicured and maintained by the HOA, and the fully-fenced back patio provides privacy. Roof - 2018, Garage Door - 2019, Updated Water Heater, Water Softener Included.

Key facts

• Private bathrooms
• Walk-in closets
• Built-in shelves

Tags

• PRIVATE OUTSIDE PATIO
• WALK-IN CLOSETS
• PRIVATE BATHROOMS
• BUILT-IN SHELVES

Property features AI

Finance

• Other: Mandatory fee ownership interest
• HOA & community: Monthly HOA fee ($245) covering lawn care, grounds maintenance and snow removal; Association maintains grounds; Covenants & restrictions apply; Rental restrictions; Low-maintenance lifestyle with shared walls (2+ common walls)

Exterior

• Parking: Attached garage (1 car)
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Municipal sewer connected; Electricity connected; Natural gas connected; Solid waste service available
• Home design: Attached residential condominium; Vertical condo with private building entry; Two levels
• Construction: Vinyl with brick exterior; Slab foundation
• Exterior features: Patio; Full privacy fence

Interior

• Kitchen: Electric cooktop; Electric oven; Dishwasher; Disposal; Refrigerator
• Bedrooms: Two bedrooms on upper level with walk-in closet in primary
• Bathrooms: Two full bathrooms; One half bathroom; Primary bathroom with full shower stall and suite layout
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Breakfast bar; Walk-in closet(s); Gas log fireplace (1)
• Laundry & utility: Laundry closet on upper level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (0.1% below list).
• Recommended offer: $238k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 3.0% in Westfield — 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 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: Westfield High School (math 61% / reading 85%, grade B+, #8 of 369 statewide, top 2%, 2,665 students, 18% FRL) — zoned schools at 18% FRL track the district average.
• Zoned-school proficiency averages 73% at this address vs 61% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Westfield-Washington Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.3%/yr); 801 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,661 units permitted in Hamilton County in 2024 (1,528 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 $7k 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 42 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.

Recommended offer $237,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.00% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.29%
• DSCR: 1.10
• GRM: 8.3

CMA / ARV

• ARV (median comp): $241,533
• List price: $245,000
• Delta: 1.44%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.26% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.59×
• Total profit: $-28,113
• Equity at exit: $36,530

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-89
• Equity at exit: $21,183

Cash invested: $68,600 (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 46074

• Rents YoY: 4.3%
• Active inventory: 801
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,448 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$171 /mo · $2,049/yr
• Insurance: −$102
• HOA: −$245
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $131

Break-even live

Break-even rent $2,282

Max offer price $245,000

Occupancy floor 90%

Sensitivity live

Price	-10% $270	-5% $200	+0% $131	+5% $62	+10% $-8
Rent	-10% $-62	-5% $34	+0% $131	+5% $228	+10% $324
Rate	-1.0pp $254	-0.5pp $193	base $131	+0.5pp $67	+1.0pp $3

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 E Pine Ridge Dr Westfield, IN	3.0	2.5	1726	$3,250	$1.88	44d	1	0.39mi
17361 Graley Pl Westfield, IN	3.0	2.5	1512	$2,500	$1.65	8d	1	0.82mi
172 Straughn Ln Westfield, IN	2.0	2.5	1128	$2,300	$2.04	24d	1	0.98mi
835 Virginia Rose Ave Westfield, IN	3.0	2.0	739	$2,299	$3.11	2d	61	1.00mi
620 Southridge Ct Unit 1303752P Westfield, IN	4.0	2.5	1797	$5,460	$3.04	15d	1	1.01mi
176 Union Flats Blvd Westfield, IN	1.0–2.0	1.0–2.0	885	$1,664	$1.88	2d	6	1.02mi
1500 Taper Way Westfield, IN	1.0–3.0	1.0–2.0	1026	$2,625	$2.56	3d	32	1.03mi
218 W Main St Westfield, IN	4.0	2.5	1872	$2,495	$1.33	44d	1	1.14mi
170 Jersey St Westfield, IN	2.0	1.0–2.0	871	$2,359	$2.71	3d	73	1.18mi
1930 Ashley Way Westfield, IN	1.0–2.0	1.0–2.0	847	$1,560	$1.84	2d	8	1.24mi
356 Westlea Dr Westfield, IN	3.0	1.0	1011	$2,300	$2.27	17d	1	1.32mi
1901 Sanders Glen Cir Westfield, IN	1.0–2.0	1.0	938	$1,789	$1.91	8d	2	1.35mi
1901 Sanders Glen Cir Unit 1913 Westfield, IN	2.0	1.0	1160	$1,789	$1.54	24d	1	1.35mi
1901 Sanders Glen Cir Unit 1961 Westfield, IN	2.0	1.0	1160	$1,750	$1.51	44d	1	1.35mi
18183 Wheeler Rd Westfield, IN	1.0–2.0	1.0–2.0	998	$2,559	$2.56	2d	48	1.37mi
879 Northwich Ave Westfield, IN	3.0	2.0	1677	$2,050	$1.22	44d	1	1.38mi
881 Warrington Ave Westfield, IN	3.0	2.5	1296	$1,899	$1.47	5d	1	1.38mi
18237 Tempo Blvd Westfield, IN	1.0–3.0	1.0–2.0	1034	$2,439	$2.36	2d	78	1.42mi
140 N Cherry St Unit 3 Westfield, IN	2.0	1.0	1000	$1,145	$1.15	8d	1	1.43mi
510 Morning Oaks Dr Westfield, IN	1.0–2.0	1.0–2.0	995	$1,753	$1.76	2d	16	1.43mi

HOA detail condo

• Monthly dues: $245 · $2,940/yr
• Likely covers: watergas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $245,000 Active 42 DOM
2. 2026-06-17
   days on market $245,000 Active 41 DOM
3. 2026-06-16
   days on market $245,000 Active 40 DOM
4. 2026-06-15
   days on market $245,000 Active 39 DOM
5. 2026-06-13
   days on market $245,000 Active 37 DOM
6. 2026-06-13
   days on market $245,000 Active 36 DOM
7. 2026-06-09
   days on market $245,000 Active 33 DOM
8. 2026-06-08
   days on market $245,000 Active 32 DOM
9. 2026-06-07
   days on market $245,000 Active 31 DOM
10. 2026-06-05
    days on market $245,000 Active 28 DOM
11. 2026-06-03
    days on market $245,000 Active 27 DOM
12. 2026-06-02
    days on market $245,000 Active 26 DOM
13. 2026-06-01
    days on market $245,000 Active 25 DOM
14. 2026-05-31
    days on market $245,000 Active 24 DOM
15. 2026-05-06
    listed $249,000 Active 559-char remark
16. 2022-08-31
    soldstatus $215,000 Closed 616-char remark

    Show marketing remark (616 chars)

    Gorgeous townhome offered in Westfield’s Mapleton at Countryside, just minutes from the Monon and US-31! Enjoy your open-concept living area complete with a cozy gas fireplace and TONS of natural light. Kitchen provides updated appliances, plenty of counterspace and a charming dining nook. This home also includes TWO Master Suites, each with walk-in closets and private bathrooms, and laundry on the second level. The front landscape is well-manicured and maintained by the HOA, and the fully-fenced back patio provides privacy. Roof - 2018, Garage Door - 2019, Updated Water Heater, Water Softener Included.

17. 2022-08-09
    status Pending 616-char remark

    Show marketing remark (616 chars)

    Gorgeous townhome offered in Westfield’s Mapleton at Countryside, just minutes from the Monon and US-31! Enjoy your open-concept living area complete with a cozy gas fireplace and TONS of natural light. Kitchen provides updated appliances, plenty of counterspace and a charming dining nook. This home also includes TWO Master Suites, each with walk-in closets and private bathrooms, and laundry on the second level. The front landscape is well-manicured and maintained by the HOA, and the fully-fenced back patio provides privacy. Roof - 2018, Garage Door - 2019, Updated Water Heater, Water Softener Included.

18. 2022-08-04
    price $215,000 616-char remark

    Show marketing remark (616 chars)

    Gorgeous townhome offered in Westfield’s Mapleton at Countryside, just minutes from the Monon and US-31! Enjoy your open-concept living area complete with a cozy gas fireplace and TONS of natural light. Kitchen provides updated appliances, plenty of counterspace and a charming dining nook. This home also includes TWO Master Suites, each with walk-in closets and private bathrooms, and laundry on the second level. The front landscape is well-manicured and maintained by the HOA, and the fully-fenced back patio provides privacy. Roof - 2018, Garage Door - 2019, Updated Water Heater, Water Softener Included.

19. 2022-07-20
    price $220,000 616-char remark

    Show marketing remark (616 chars)

    Gorgeous townhome offered in Westfield’s Mapleton at Countryside, just minutes from the Monon and US-31! Enjoy your open-concept living area complete with a cozy gas fireplace and TONS of natural light. Kitchen provides updated appliances, plenty of counterspace and a charming dining nook. This home also includes TWO Master Suites, each with walk-in closets and private bathrooms, and laundry on the second level. The front landscape is well-manicured and maintained by the HOA, and the fully-fenced back patio provides privacy. Roof - 2018, Garage Door - 2019, Updated Water Heater, Water Softener Included.

20. 2022-07-08
    listed $230,000 Active 616-char remark

    Show marketing remark (616 chars)

    Gorgeous townhome offered in Westfield’s Mapleton at Countryside, just minutes from the Monon and US-31! Enjoy your open-concept living area complete with a cozy gas fireplace and TONS of natural light. Kitchen provides updated appliances, plenty of counterspace and a charming dining nook. This home also includes TWO Master Suites, each with walk-in closets and private bathrooms, and laundry on the second level. The front landscape is well-manicured and maintained by the HOA, and the fully-fenced back patio provides privacy. Roof - 2018, Garage Door - 2019, Updated Water Heater, Water Softener Included.

21. 2020-04-24
    soldstatus $159,900 Sold

    Show marketing remark (597 chars)

    Adorable, move-in ready, super clean, meticulously maintained townhouse in Westfield's popular Countryside. First floor features Family Room with gas fireplace, Kitchen with freshly painted gray cabinets, island w/breakfast bar and dining nook. Fantastic, nicely landscaped fenced in rear patio area & covered front porch. Upstairs offers two Master Suites w/private baths (one completely updated) and walk-in closets in each suite. Laundry room upstairs. All appliances stay including washer & dryer. Newer (2019) Insulated Garage Door. HOA put on new roofs in 2018. Immediate occupancy.

22. 2020-03-11
    status Pending

    Show marketing remark (597 chars)

    Adorable, move-in ready, super clean, meticulously maintained townhouse in Westfield's popular Countryside. First floor features Family Room with gas fireplace, Kitchen with freshly painted gray cabinets, island w/breakfast bar and dining nook. Fantastic, nicely landscaped fenced in rear patio area & covered front porch. Upstairs offers two Master Suites w/private baths (one completely updated) and walk-in closets in each suite. Laundry room upstairs. All appliances stay including washer & dryer. Newer (2019) Insulated Garage Door. HOA put on new roofs in 2018. Immediate occupancy.

23. 2020-03-06
    listed $159,900 Active

    Show marketing remark (597 chars)

    Adorable, move-in ready, super clean, meticulously maintained townhouse in Westfield's popular Countryside. First floor features Family Room with gas fireplace, Kitchen with freshly painted gray cabinets, island w/breakfast bar and dining nook. Fantastic, nicely landscaped fenced in rear patio area & covered front porch. Upstairs offers two Master Suites w/private baths (one completely updated) and walk-in closets in each suite. Laundry room upstairs. All appliances stay including washer & dryer. Newer (2019) Insulated Garage Door. HOA put on new roofs in 2018. Immediate occupancy.

ⓘ 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: $2,049 · $171/mo
• Projected year-2 tax: $2,066 · $172/mo
• Expected delta: +$17/yr (+$1/mo · 0.8%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $29,371
• − Mortgage interest: −$13,724
• − Property taxes: −$2,049
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,350
• − Management: −$2,350
• − HOA: −$2,940
• − Depreciation: −$7,127
• Taxable loss: −$2,393
• Est. tax savings @ 24.0%: +$574
• After-tax cash flow: $2,146/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: 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

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 County · 337,479 people
• City population: 48,901
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 48,901
• Household income: $126,724
• Rent vs Own: 18.4% rent · 81.6% own
• Severe rent burden: 742.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 10% Hispanic / Latino 9% Asian 8% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 4% Italian 4% Lithuanian 2%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 5% Arabic 3% Chinese 2%

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: ▼ -140.45%
• Current HPI: 220.9413
• Rent YoY: ▲ 4.26%
• 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

+53.2% since first listed

10 events — show timeline

• 2026-05-29 Price Changed $245,000 MIBOR as Distributed by MLS Grid
• 2026-05-06 Listed $249,000 MIBOR as Distributed by MLS Grid
• 2022-08-31 Sold (MLS) $215,000 MIBOR as Distributed by MLS Grid
• 2022-08-09 Pending — MIBOR as Distributed by MLS Grid
• 2022-08-04 Price Changed $215,000 MIBOR as Distributed by MLS Grid
• 2022-07-20 Price Changed $220,000 MIBOR as Distributed by MLS Grid
• 2022-07-08 Listed $230,000 MIBOR as Distributed by MLS Grid
• 2020-04-24 Sold (MLS) $159,900 MIBOR as Distributed by MLS Grid
• 2020-03-11 Pending — MIBOR as Distributed by MLS Grid
• 2020-03-06 Listed $159,900 MIBOR as Distributed by MLS Grid

Property tax history

+9.5%/yr

Latest (2025): $2,049 · -10.0% YoY. Source: county tax records.