5786 Arcade Blvd · McCordsville, IN 46055

$387,999

4 bd · 3.5 ba · 2,817 sqft · Land · 176 Days on market

Built 2025 2,880 sqft lot $250/mo HOA · 9% of rent ↓ 3% 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 +5.4/30.0
• Schools +4.1/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Burg at 5786 Arcade Boulevard in Colonnade! This townhome offers three thoughtfully designed levels of comfort and flexibility. The first floor offers a cozy bedroom, full bath, and versatile flex and game room—plus a covered patio perfect for relaxing evenings. Upstairs, enjoy open-concept living with a bright kitchen, dining, and great room, along with a tucked-away primary suite featuring a spa-inspired bath and Welcome to McCordsville, one of the best places to live in Indiana! Outside, discover a peaceful pond, walking trails and open spaces. Plus, the McCord Square Downtown District is on the way and will feature an outdoor amphitheater for concerts and shows! Additional Highlights Include: water softener rough-in located in the utility room, an additional sink added to the secondary bathroom on the third floor, and a shower with a built-in bench in the primary bathroom. MLS#22053665

Key facts

• Bright kitchen
• Shared bath
• Covered patio

Tags

• COZY BEDROOM
• COVERED PATIO
• BRIGHT KITCHEN
• SPA INSPIRED BATH
• WALK IN CLOSET
• SHARED BATH

Property features AI

Finance

• Other: Property on a 0.06-acre lot (less than 1/4 acre); Mandatory fee ownership interest
• HOA & community: Homeowners association with monthly fee ($250); HOA provides lawn care, maintenance, snow removal, and common entrance maintenance; Covenants & restrictions apply

Exterior

• Parking: Attached 2-car garage; Garage faces rear; Concrete driveway/garage floor; Garage includes storage, garage door opener, and keyless entry
• Security: Smoke alarm
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence (attached property); New construction; Three-or-more levels; Faces south
• Construction: Brick and cement siding exterior; Slab foundation; Built by Taylor Morrison; Construction completed
• Exterior features: Covered patio/porch; Deck; Curbs, sidewalks, street lights; Small trees (under 20 ft); Low-maintenance yard

Interior

• Kitchen: Electric oven; Microwave; Dishwasher; Garbage disposal
• Bedrooms: Primary bedroom with walk-in closet; Four bedrooms total (three on upper level, one on main level)
• Bathrooms: Three full bathrooms; One half bathroom; Primary bath with full shower stall, double sinks, and suite layout
• Heating & cooling: Forced-air heating; Central air conditioning
• Interior features: Attic access; Kitchen island; Pantry; Smart thermostat; Walk-in closets; Painted woodwork
• Laundry & utility: Laundry connections on upper level; All laundry connections provided; Electric water heater

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath land listed at $388k.

Deal economics

• At list price, monthly cash flow is $-851 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (31.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (32.1% below list).
• Recommended offer: $263k (32.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#181 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mt Vernon Community School Corporation (rural): math 43% / reading 48% proficiency, ranked #70 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Mccordsville Elementary School (math 54% / reading 38%, grade D-, #357 of 994 statewide, top 37%, 673 students, 25% FRL); Mt Vernon High School (math 41% / reading 71%, grade C, #73 of 369 statewide, top 20%, 1,431 students, 27% FRL).
• Market conditions: Rents rising fast (+5.2%/yr); 422 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($341k) is reasonable based on typical stale-listing flexibility.
• 6 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 $263,394 (32.1% 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 176 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.68% ✗
• Cap rate: 3.66%
• Cash-on-cash: -9.40%
• DSCR: 0.58
• GRM: 12.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.18% rent growth · sell at horizon

5-year hold

• IRR: -30.3%
• Equity multiple: -0.02×
• Total profit: $-110,949
• Equity at exit: $57,852

10-year hold

• IRR: -23.3%
• Equity multiple: -0.29×
• Total profit: $-140,255
• Equity at exit: $33,547

Cash invested: $108,640 (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 46055

• Home prices YoY: -20.1%
• Rents YoY: 5.2%
• Active inventory: 422
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,634 high
• Mortgage (P&I): −$2,035
• Tax est. 1.5%: −$485 /mo · $5,820/yr
• Insurance: −$162
• HOA: −$250
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $-851

Break-even live

Break-even rent $3,711

Max offer price $264,921

Occupancy floor —

Sensitivity live

Price	-10% $-582	-5% $-716	+0% $-851	+5% $-985	+10% $-1,119
Rent	-10% $-1,059	-5% $-955	+0% $-851	+5% $-747	+10% $-642
Rate	-1.0pp $-655	-0.5pp $-752	base $-851	+0.5pp $-951	+1.0pp $-1,053

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: $97,000
• Closing costs: $11,640
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5790 Arcade Blvd McCordsville, IN	3.0	2.5	2021	$2,250	$1.11	21d	1	0.02mi
5743 W 750 N Unit 5743 750 McCordsville, IN	3.0	2.5	2400	$2,050	$0.85	5d	1	0.07mi
6032 Windsor Dr Unit MC McCordsville, IN	3.0	4.0	2320	$2,400	$1.03	24d	1	0.37mi
5510 Wood Spring Ln McCordsville, IN	3.0	2.5	2009	$2,091	$1.04	22d	1	1.09mi
7044 N Mesquite Ct McCordsville, IN	3.0	2.0	2073	$1,991	$0.96	8d	1	1.09mi
6077 W Jamison Dr McCordsville, IN	4.0	2.5	1951	$2,569	$1.32	5d	1	1.22mi
8775 N Springview Dr McCordsville, IN	4.0	2.5	3062	$2,476	$0.81	13d	1	1.33mi
6654 Willow Way McCordsville, IN	3.0–4.0	2.0–2.5	1810	$2,590	$1.43	2d	10	1.34mi

HOA detail

• Monthly dues: $250 · $3,000/yr
• Likely covers: water

Listing history 28 events

1. 2026-06-18
   days on market $387,999 Active 176 DOM
2. 2026-06-17
   days on market $387,999 Active 175 DOM
3. 2026-06-16
   days on market $387,999 Active 174 DOM
4. 2026-06-15
   days on market $387,999 Active 173 DOM
5. 2026-06-13
   days on market $387,999 Active 171 DOM
6. 2026-06-13
   days on market $387,999 Active 170 DOM
7. 2026-06-09
   days on market $387,999 Active 167 DOM
8. 2026-06-08
   days on market $387,999 Active 166 DOM
9. 2026-06-07
   days on market $387,999 Active 165 DOM
10. 2026-06-05
    days on market $387,999 Active 162 DOM
11. 2026-06-03
    days on market $387,999 Active 161 DOM
12. 2026-06-02
    days on market $387,999 Active 160 DOM
13. 2026-06-01
    days on market $387,999 Active 159 DOM
14. 2026-05-31
    days on market $387,999 Active 158 DOM
15. 2026-04-16
    price $389,999 923-char remark

    Show marketing remark (923 chars)

    Welcome to the Burg at 5786 Arcade Boulevard in Colonnade! This townhome offers three thoughtfully designed levels of comfort and flexibility. The first floor offers a cozy bedroom, full bath, and versatile flex and game room—plus a covered patio perfect for relaxing evenings. Upstairs, enjoy open-concept living with a bright kitchen, dining, and great room, along with a tucked-away primary suite featuring a spa-inspired bath and Welcome to McCordsville, one of the best places to live in Indiana! Outside, discover a peaceful pond, walking trails and open spaces. Plus, the McCord Square Downtown District is on the way and will feature an outdoor amphitheater for concerts and shows! Additional Highlights Include: water softener rough-in located in the utility room, an additional sink added to the secondary bathroom on the third floor, and a shower with a built-in bench in the primary bathroom. MLS#22053665

16. 2026-04-15
    price $389,999
17. 2026-03-22
    status Active 923-char remark

    Show marketing remark (923 chars)

    Welcome to the Burg at 5786 Arcade Boulevard in Colonnade! This townhome offers three thoughtfully designed levels of comfort and flexibility. The first floor offers a cozy bedroom, full bath, and versatile flex and game room—plus a covered patio perfect for relaxing evenings. Upstairs, enjoy open-concept living with a bright kitchen, dining, and great room, along with a tucked-away primary suite featuring a spa-inspired bath and Welcome to McCordsville, one of the best places to live in Indiana! Outside, discover a peaceful pond, walking trails and open spaces. Plus, the McCord Square Downtown District is on the way and will feature an outdoor amphitheater for concerts and shows! Additional Highlights Include: water softener rough-in located in the utility room, an additional sink added to the secondary bathroom on the third floor, and a shower with a built-in bench in the primary bathroom. MLS#22053665

18. 2026-03-21
    status Active
19. 2026-01-04
    status Pending

    Show marketing remark (923 chars)

    Welcome to the Burg at 5786 Arcade Boulevard in Colonnade! This townhome offers three thoughtfully designed levels of comfort and flexibility. The first floor offers a cozy bedroom, full bath, and versatile flex and game room—plus a covered patio perfect for relaxing evenings. Upstairs, enjoy open-concept living with a bright kitchen, dining, and great room, along with a tucked-away primary suite featuring a spa-inspired bath and Welcome to McCordsville, one of the best places to live in Indiana! Outside, discover a peaceful pond, walking trails and open spaces. Plus, the McCord Square Downtown District is on the way and will feature an outdoor amphitheater for concerts and shows! Additional Highlights Include: water softener rough-in located in the utility room, an additional sink added to the secondary bathroom on the third floor, and a shower with a built-in bench in the primary bathroom. MLS#22053665

20. 2026-01-04
    historical 923-char remark

    Show marketing remark (923 chars)

    Welcome to the Burg at 5786 Arcade Boulevard in Colonnade! This townhome offers three thoughtfully designed levels of comfort and flexibility. The first floor offers a cozy bedroom, full bath, and versatile flex and game room—plus a covered patio perfect for relaxing evenings. Upstairs, enjoy open-concept living with a bright kitchen, dining, and great room, along with a tucked-away primary suite featuring a spa-inspired bath and Welcome to McCordsville, one of the best places to live in Indiana! Outside, discover a peaceful pond, walking trails and open spaces. Plus, the McCord Square Downtown District is on the way and will feature an outdoor amphitheater for concerts and shows! Additional Highlights Include: water softener rough-in located in the utility room, an additional sink added to the secondary bathroom on the third floor, and a shower with a built-in bench in the primary bathroom. MLS#22053665

21. 2025-12-17
    price $394,999 923-char remark

    Show marketing remark (923 chars)

    Welcome to the Burg at 5786 Arcade Boulevard in Colonnade! This townhome offers three thoughtfully designed levels of comfort and flexibility. The first floor offers a cozy bedroom, full bath, and versatile flex and game room—plus a covered patio perfect for relaxing evenings. Upstairs, enjoy open-concept living with a bright kitchen, dining, and great room, along with a tucked-away primary suite featuring a spa-inspired bath and Welcome to McCordsville, one of the best places to live in Indiana! Outside, discover a peaceful pond, walking trails and open spaces. Plus, the McCord Square Downtown District is on the way and will feature an outdoor amphitheater for concerts and shows! Additional Highlights Include: water softener rough-in located in the utility room, an additional sink added to the secondary bathroom on the third floor, and a shower with a built-in bench in the primary bathroom. MLS#22053665

22. 2025-12-16
    price $394,999
23. 2025-11-20
    status Active 923-char remark

    Show marketing remark (923 chars)

    Welcome to the Burg at 5786 Arcade Boulevard in Colonnade! This townhome offers three thoughtfully designed levels of comfort and flexibility. The first floor offers a cozy bedroom, full bath, and versatile flex and game room—plus a covered patio perfect for relaxing evenings. Upstairs, enjoy open-concept living with a bright kitchen, dining, and great room, along with a tucked-away primary suite featuring a spa-inspired bath and Welcome to McCordsville, one of the best places to live in Indiana! Outside, discover a peaceful pond, walking trails and open spaces. Plus, the McCord Square Downtown District is on the way and will feature an outdoor amphitheater for concerts and shows! Additional Highlights Include: water softener rough-in located in the utility room, an additional sink added to the secondary bathroom on the third floor, and a shower with a built-in bench in the primary bathroom. MLS#22053665

24. 2025-11-19
    status Active
25. 2025-09-10
    historical 923-char remark

    Show marketing remark (923 chars)

    Welcome to the Burg at 5786 Arcade Boulevard in Colonnade! This townhome offers three thoughtfully designed levels of comfort and flexibility. The first floor offers a cozy bedroom, full bath, and versatile flex and game room—plus a covered patio perfect for relaxing evenings. Upstairs, enjoy open-concept living with a bright kitchen, dining, and great room, along with a tucked-away primary suite featuring a spa-inspired bath and Welcome to McCordsville, one of the best places to live in Indiana! Outside, discover a peaceful pond, walking trails and open spaces. Plus, the McCord Square Downtown District is on the way and will feature an outdoor amphitheater for concerts and shows! Additional Highlights Include: water softener rough-in located in the utility room, an additional sink added to the secondary bathroom on the third floor, and a shower with a built-in bench in the primary bathroom. MLS#22053665

26. 2025-09-09
    status Pending
27. 2025-07-30
    listed $399,999 Active 923-char remark

    Show marketing remark (923 chars)

    Welcome to the Burg at 5786 Arcade Boulevard in Colonnade! This townhome offers three thoughtfully designed levels of comfort and flexibility. The first floor offers a cozy bedroom, full bath, and versatile flex and game room—plus a covered patio perfect for relaxing evenings. Upstairs, enjoy open-concept living with a bright kitchen, dining, and great room, along with a tucked-away primary suite featuring a spa-inspired bath and Welcome to McCordsville, one of the best places to live in Indiana! Outside, discover a peaceful pond, walking trails and open spaces. Plus, the McCord Square Downtown District is on the way and will feature an outdoor amphitheater for concerts and shows! Additional Highlights Include: water softener rough-in located in the utility room, an additional sink added to the secondary bathroom on the third floor, and a shower with a built-in bench in the primary bathroom. MLS#22053665

28. 2025-07-30
    listed $399,999 Active

    Show marketing remark (923 chars)

    Welcome to the Burg at 5786 Arcade Boulevard in Colonnade! This townhome offers three thoughtfully designed levels of comfort and flexibility. The first floor offers a cozy bedroom, full bath, and versatile flex and game room—plus a covered patio perfect for relaxing evenings. Upstairs, enjoy open-concept living with a bright kitchen, dining, and great room, along with a tucked-away primary suite featuring a spa-inspired bath and Welcome to McCordsville, one of the best places to live in Indiana! Outside, discover a peaceful pond, walking trails and open spaces. Plus, the McCord Square Downtown District is on the way and will feature an outdoor amphitheater for concerts and shows! Additional Highlights Include: water softener rough-in located in the utility room, an additional sink added to the secondary bathroom on the third floor, and a shower with a built-in bench in the primary bathroom. MLS#22053665

ⓘ 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: $31,607
• − Mortgage interest: −$21,734
• − Property taxes: −$5,820
• − Insurance: −$1,940
• − Repairs & maintenance: −$2,529
• − Management: −$2,529
• − HOA: −$3,000
• − Depreciation: −$11,287
• Taxable loss: −$17,231
• Est. tax savings @ 24.0%: +$4,135
• After-tax cash flow: $-6,071/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: Mt Vernon Community School Corporation
• NCES district ID: 1807260
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $73,671
• Composite: 41.3/100
• National rank: #3514
• State rank: #70 of 301 in IN

Livability — McCordsville

• Score: 69/100
• State rank: #181
• US rank: #8388

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: McCordsville, IN
• County: Hancock County · 59,521 people
• City population: 16,010
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 16,010
• Household income: $113,784
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 58.0

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 (77%)
• Race & ethnicity: White 77% Black 13% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Lithuanian 3% Italian 3% Romanian 3%
• Foreign-born: 4% · Canada, Vietnam, Jamaica
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -52.35%
• Current HPI: 207.9764
• Rent YoY: ▲ 5.18%
• 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

-2.5% since first listed

14 events — show timeline

• 2026-04-16 Price Changed $389,999 Zillow
• 2026-04-15 Price Changed $389,999 MIBOR as Distributed by MLS Grid
• 2026-03-22 Relisted — Zillow
• 2026-03-21 Relisted — MIBOR as Distributed by MLS Grid
• 2026-01-04 Pending — MIBOR as Distributed by MLS Grid
• 2026-01-04 Delisted — Zillow
• 2025-12-17 Price Changed $394,999 Zillow
• 2025-12-16 Price Changed $394,999 MIBOR as Distributed by MLS Grid
• 2025-11-20 Relisted — Zillow
• 2025-11-19 Relisted — MIBOR as Distributed by MLS Grid
• 2025-09-10 Delisted — Zillow
• 2025-09-09 Pending — MIBOR as Distributed by MLS Grid
• 2025-07-30 Listed $399,999 Zillow
• 2025-07-30 Listed $399,999 MIBOR as Distributed by MLS Grid

Property tax history

+0.9%/yr

Latest (2025): $9 · +0.9% YoY. Source: county tax records.