450 E Pine Ridge Dr · Westfield, IN 46074

$319,500

3 bd · 2.0 ba · 1,413 sqft · SingleFamily public records · 5 Days on market

Built 1997 0.30 ac lot Est $315k · at est. $18/mo HOA · 1% 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 +11.3/30.0
• ARV discount +6.9/15.0
• Schools +5.5/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• DSCR +3.3/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sought after 3 bedroom ranch home on a large private lot. Split bedroom layout with open floor plan, large great room with vaulted ceiling and skylights. Eat-in kitchen with sliding glass door leading to the private outdoor living space. Large wooden deck, fire pit and a fully fenced backyard. Large master bedroom with attached bath and walk-in closet. Fantastic location about a half mile from the Monon Trail, close to shopping, dining and easy access to SR 31. New roof and fresh paint inside and out.

Key facts

• Raised garden beds
• Spacious deck
• 0.3 acre lot

Tags

• CORNER CUL-DE-SAC LOT
• FULLY FENCED BACKYARD
• RAISED GARDEN BEDS
• SPACIOUS DECK
• QUIET NEIGHBORHOOD SETTING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $299k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (23.5% below list).
• Recommended offer: $245k (23.5% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: 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: Rents rising fast (+4.3%/yr); 809 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 $10k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 25y 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.
• Current owner paid $220k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $244,527 (23.5% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.77% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.56%
• DSCR: 0.93
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $315,099
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
450 E Pine Ridge Dr	0.00mi	3/2.0	1,413 (0%)	1mo	$312,200	$221	99
514 E Pine Ridge Dr	0.09mi	3/2.0	1,400 (-1%)	1mo	$336,000	$240	93
611 E Pine Ridge Dr	0.19mi	3/2.0	1,405 (-1%)	7mo	$289,900	$206	84
349 E Quail Wood Ln	0.29mi	3/2.0	1,406 (-0%)	3mo	$340,000	$242	83
165 E Flat Rock Dr	0.29mi	3/2.0	1,361 (-4%)	2mo	$325,000	$239	79
17051 Newberry Ln	0.31mi	3/2.0	1,406 (-0%)	10mo	$337,000	$240	76
464 Grabill Dr	0.35mi	3/2.5	1,398 (-1%)	7mo	$290,000	$207	74
17009 Kirklin Dr	0.39mi	3/2.5	1,530 (+8%)	0mo	$350,000	$229	66
411 Vernon Pl	0.32mi	3/2.5	1,530 (+8%)	9mo	$311,000	$203	62
16603 Yeoman Way	0.74mi	3/2.0	1,440 (+2%)	1mo	$320,600	$223	62
32 Fillmore Way	0.48mi	3/2.0	1,612 (+14%)	4mo	$340,000	$211	51
65 Fillmore Way	0.55mi	3/2.0	1,618 (+14%)	2mo	$353,000	$218	48

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 · 4.26% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.37×
• Total profit: $-56,115
• Equity at exit: $47,638

10-year hold

• IRR: -7.7%
• Equity multiple: 0.49×
• Total profit: $-45,452
• Equity at exit: $27,625

Cash invested: $89,460 (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: 809
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,445 high
• Mortgage (P&I): −$1,675
• Tax from tax record: −$222 /mo · $2,660/yr
• Insurance: −$133
• HOA: −$18
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-116

Break-even live

Break-even rent $2,593

Max offer price $298,920

Occupancy floor 100%

Sensitivity live

Price	-10% $64	-5% $-26	+0% $-116	+5% $-207	+10% $-297
Rent	-10% $-310	-5% $-213	+0% $-116	+5% $-20	+10% $77
Rate	-1.0pp $44	-0.5pp $-35	base $-116	+0.5pp $-199	+1.0pp $-284

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: $79,875
• Closing costs: $9,585
• Reserves months: —
• Total cash needed: —

Rent comps 27 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	45d	1	0.19mi
17361 Graley Pl Westfield, IN	3.0	2.5	1512	$2,500	$1.65	9d	1	0.57mi
835 Virginia Rose Ave Westfield, IN	2.0	2.0	681	$2,299	$3.37	0d	61	0.63mi
18237 Tempo Blvd Westfield, IN	1.0–3.0	1.0–2.0	1034	$2,439	$2.36	0d	78	1.00mi
18183 Wheeler Rd Westfield, IN	1.0–2.0	1.0–2.0	998	$2,559	$2.56	0d	48	1.01mi
218 W Main St Westfield, IN	4.0	2.5	1872	$2,495	$1.33	45d	1	1.09mi
960 Charlestowne Rd Unit 02-18365-203 Westfield, IN	2.0	2.0	1130	$1,740	$1.54	6d	1	1.12mi
960 Charlestowne Rd Unit 11-18451-303 Westfield, IN	2.0	2.0	1101	$1,690	$1.53	0d	1	1.12mi
960 Charlestowne Rd Unit 16-18488-205 Westfield, IN	2.0	2.0	1034	$1,670	$1.62	6d	1	1.12mi
960 Charlestowne Rd Unit 118399--106 Westfield, IN	3.0	2.0	1335	$2,170	$1.63	45d	1	1.12mi
960 Charlestowne Rd Unit 08-975 -103-ADA Westfield, IN	2.0	2.0	1101	$1,690	$1.53	45d	1	1.12mi
176 Union Flats Blvd Westfield, IN	1.0–3.0	1.0–2.0	925	$1,870	$2.02	0d	8	1.14mi
170 Jersey St Westfield, IN	2.0	1.0–2.0	871	$2,260	$2.59	0d	72	1.17mi
620 Southridge Ct Unit 1303752P Westfield, IN	4.0	2.5	1797	$5,557	$3.09	0d	1	1.18mi
356 Westlea Dr Westfield, IN	3.0	1.0	1011	$2,300	$2.27	18d	1	1.20mi
717 Crispin Ln Westfield, IN	3.0	2.0	1613	$2,400	$1.49	45d	1	1.21mi
292 South Dr Westfield, IN	3.0	2.0	1200	$1,629	$1.36	0d	1	1.21mi
879 Northwich Ave Westfield, IN	3.0	2.0	1677	$2,050	$1.22	45d	1	1.23mi
172 Straughn Ln Westfield, IN	2.0	2.5	1128	$2,300	$2.04	25d	1	1.29mi
881 Warrington Ave Westfield, IN	3.0	2.5	1296	$1,899	$1.47	6d	1	1.29mi
1034 Hendon Ct Westfield, IN	3.0	2.0	1618	$2,075	$1.28	45d	1	1.41mi
140 N Cherry St Unit 3 Westfield, IN	2.0	1.0	1000	$1,145	$1.15	9d	1	1.41mi
1901 Sanders Glen Cir Unit 1961 Westfield, IN	2.0	1.0	1160	$1,750	$1.51	45d	1	1.42mi
1901 Sanders Glen Cir Unit 1913 Westfield, IN	2.0	1.0	1160	$1,789	$1.54	25d	1	1.42mi
1901 Sanders Glen Cir Westfield, IN	1.0–2.0	1.0	938	$1,789	$1.91	9d	2	1.42mi
1500 Taper Way Westfield, IN	1.0–3.0	1.0–2.0	1026	$2,625	$2.56	0d	31	1.44mi
1930 Ashley Way Westfield, IN	1.0–2.0	1.0–2.0	854	$1,532	$1.79	0d	8	1.49mi

HOA detail

• Monthly dues: $18 · $216/yr

Listing history 16 events

1. 2026-04-27
   status Pending
2. 2026-04-23
   price $319,500
3. 2026-03-19
   listed $315,000 Active
4. 2020-08-27
   soldstatus $220,000 Closed 506-char remark

   Show marketing remark (506 chars)

   Sought after 3 bedroom ranch home on a large private lot. Split bedroom layout with open floor plan, large great room with vaulted ceiling and skylights. Eat-in kitchen with sliding glass door leading to the private outdoor living space. Large wooden deck, fire pit and a fully fenced backyard. Large master bedroom with attached bath and walk-in closet. Fantastic location about a half mile from the Monon Trail, close to shopping, dining and easy access to SR 31. New roof and fresh paint inside and out.

5. 2020-08-21
   status Pending 506-char remark

   Show marketing remark (506 chars)

   Sought after 3 bedroom ranch home on a large private lot. Split bedroom layout with open floor plan, large great room with vaulted ceiling and skylights. Eat-in kitchen with sliding glass door leading to the private outdoor living space. Large wooden deck, fire pit and a fully fenced backyard. Large master bedroom with attached bath and walk-in closet. Fantastic location about a half mile from the Monon Trail, close to shopping, dining and easy access to SR 31. New roof and fresh paint inside and out.

6. 2020-07-27
   status Pending 506-char remark

   Show marketing remark (506 chars)

   Sought after 3 bedroom ranch home on a large private lot. Split bedroom layout with open floor plan, large great room with vaulted ceiling and skylights. Eat-in kitchen with sliding glass door leading to the private outdoor living space. Large wooden deck, fire pit and a fully fenced backyard. Large master bedroom with attached bath and walk-in closet. Fantastic location about a half mile from the Monon Trail, close to shopping, dining and easy access to SR 31. New roof and fresh paint inside and out.

7. 2020-07-23
   listed $210,000 Active 506-char remark

   Show marketing remark (506 chars)

   Sought after 3 bedroom ranch home on a large private lot. Split bedroom layout with open floor plan, large great room with vaulted ceiling and skylights. Eat-in kitchen with sliding glass door leading to the private outdoor living space. Large wooden deck, fire pit and a fully fenced backyard. Large master bedroom with attached bath and walk-in closet. Fantastic location about a half mile from the Monon Trail, close to shopping, dining and easy access to SR 31. New roof and fresh paint inside and out.

8. 2014-04-16
   historical 476-char remark

   Show marketing remark (476 chars)

   Look no further! This 3/2 split bedroom home has been meticulously maintained, beautifully updated, tastefully decorated and offers one of the largest and best lots in the entire neighborhood! Features include a lovely open floor plan, cathedral ceilings, 2' extension in the Master, garage and bath, skylights, ceiling fans, updated lighting, finished garage, full rear privacy fence, 26x16' stained deck, large pantry, and alarm...all in a highly sought after neighborhood!

9. 2014-04-14
   soldstatus $130,000 476-char remark

   Show marketing remark (476 chars)

   Look no further! This 3/2 split bedroom home has been meticulously maintained, beautifully updated, tastefully decorated and offers one of the largest and best lots in the entire neighborhood! Features include a lovely open floor plan, cathedral ceilings, 2' extension in the Master, garage and bath, skylights, ceiling fans, updated lighting, finished garage, full rear privacy fence, 26x16' stained deck, large pantry, and alarm...all in a highly sought after neighborhood!

10. 2014-02-10
    listed $134,900 476-char remark

    Show marketing remark (476 chars)

    Look no further! This 3/2 split bedroom home has been meticulously maintained, beautifully updated, tastefully decorated and offers one of the largest and best lots in the entire neighborhood! Features include a lovely open floor plan, cathedral ceilings, 2' extension in the Master, garage and bath, skylights, ceiling fans, updated lighting, finished garage, full rear privacy fence, 26x16' stained deck, large pantry, and alarm...all in a highly sought after neighborhood!

11. 2004-07-30
    soldstatus $126,000
12. 2004-03-11
    listed $129,900
13. 2001-05-31
    soldstatus $120,000
14. 2001-01-10
    listed $120,000
15. 2001-01-09
    listed $124,900
16. 2001-01-09
    historical

ⓘ 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: $2,660 · $222/mo
• Projected year-2 tax: $2,688 · $224/mo
• Expected delta: +$28/yr (+$2/mo · 1.1%)

ⓘ 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,343
• − Mortgage interest: −$17,897
• − Property taxes: −$2,660
• − Insurance: −$1,598
• − Repairs & maintenance: −$2,347
• − Management: −$2,347
• − HOA: −$216
• − Depreciation: −$9,295
• Taxable loss: −$7,016
• Est. tax savings @ 24.0%: +$1,684
• After-tax cash flow: $286/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

+155.8% since first listed

16 events — show timeline

• 2026-04-27 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-23 Price Changed $319,500 MIBOR as Distributed by MLS Grid
• 2026-03-19 Listed $315,000 MIBOR as Distributed by MLS Grid
• 2020-08-27 Sold (MLS) $220,000 MIBOR as Distributed by MLS Grid
• 2020-08-21 Pending — MIBOR as Distributed by MLS Grid
• 2020-07-27 Pending — MIBOR as Distributed by MLS Grid
• 2020-07-23 Listed $210,000 MIBOR as Distributed by MLS Grid
• 2014-04-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-04-14 Sold (MLS) $130,000 MIBOR as Distributed by MLS Grid
• 2014-02-10 Listed $134,900 MIBOR as Distributed by MLS Grid
• 2004-07-30 Sold (MLS) $126,000 MIBOR as Distributed by MLS Grid
• 2004-03-11 Listed $129,900 MIBOR as Distributed by MLS Grid
• 2001-05-31 Sold (MLS) $120,000 MIBOR as Distributed by MLS Grid
• 2001-01-10 Listed $120,000 MIBOR as Distributed by MLS Grid
• 2001-01-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-01-09 Listed $124,900 MIBOR as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2025): $2,660 · -4.2% YoY. Source: county tax records.