Fenwick Plan · Lowell, IN 46356

$256,995

2 bd · 1.5 ba · 1,596 sqft · Townhouse · 262 Days on market

Good condition $125/mo HOA · 5% 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 +11.7/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• 1% rule +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the Fenwick, a spacious two-story home designed for flexibility and comfort, featuring 1,596 square feet of modern living space. This new-construction home showcases an inviting open-concept layout, seamlessly connecting the great room, breakfast nook, and kitchen, anchored by a stylish center island workstation with sink, perfect for entertaining or daily life. The Fenwick provides several floorplan options tailored to your lifestyle. The Standard plan includes two bedrooms, a spacious loft, 1.5 baths, and a conveniently placed laundry room upstairs. For added comfort and luxury, you can enhance your home with optional customizations: Transform the loft into a third bedroom and choose the optional grand primary suite, which includes two spacious closets and an en-suite private bath, providing a personal retreat with ample storage. Alternatively, keep the two-bedroom-plus-loft configuration and simply add a private primary bedroom bathroom to elevate your comfort. Other customizations include a sunroom to flood your living space with natural light, a patio for outdoor relaxation, a formal kitchen layout for timeless style, or a basement for expanded living and storage. Built with quality craftsmanship, the Fenwick offers modern living at its best-adaptable, comfortable, and perfectly suited to your unique needs. Explore this versatile two-story home today and experience a floorplan designed just for you.

Key facts

• Sunroom
• Patio
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• CENTER ISLAND WORKSTATION
• LAUNDRY ROOM UPSTAIRS
• SUNROOM
• PATIO
• FORMAL KITCHEN LAYOUT

🏗️ New construction. The $256,995 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $261,805.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $257k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-79 ($-944/yr) — negative.
• To cash-flow at today's rent, offer at most $250k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (8.6% below list).
• Recommended offer: $226k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 3.8% in Lowell — 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 76/100 on livability (#51 in IN, #3,455 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Tri-Creek School Corporation (town): math 46% / reading 56% proficiency, ranked #39 of 301 in IN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Oak Hill Elementary School (math 69% / reading 54%, grade B, #117 of 994 statewide, top 12%, 563 students, 30% FRL); Lowell Middle School (math 36% / reading 54%, grade D, #81 of 330 statewide, top 25%, 742 students, 33% FRL); Lowell Senior High School (math 31% / reading 75%, grade C-, #99 of 369 statewide, top 27%, 1,033 students, 29% FRL).
• Market conditions: 351 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 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 $8k of value loss. Plan a longer hold.
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 262 days — a 12% lower offer ($226k) is reasonable based on typical stale-listing flexibility.

Recommended offer $226,155 (12.0% 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 262 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 0.90% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.29%
• DSCR: 0.94
• GRM: 9.3

CMA / ARV

• ARV (median comp): $261,805
• List price: $256,995
• Delta: -1.84%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
452 Greenbrier Ln	0.41mi	2/1.5	1,616 (+1%)	0mo	$240,000	$149	79
425 Briarwood Ln	0.39mi	2/2.5	1,640 (+3%)	5mo	$235,000	$143	69
313 Sweetbriar Ct	0.60mi	2/1.5	1,640 (+3%)	7mo	$243,000	$148	61
231 Sweetbriar Ct	0.63mi	3/1.5 (+1)	1,542 (-3%)	1mo	$254,900	$165	59
231 Sweetbriar Ct	0.63mi	3/1.5 (+1)	1,542 (-3%)	1mo	$254,900	$165	59
18502 Percy Ln	0.39mi	3/2.5 (+1)	1,717 (+8%)	7mo	$282,000	$164	54
18552 Percy Ln	0.39mi	3/2.5 (+1)	1,717 (+8%)	10mo	$286,004	$167	52
230 Sweetbriar Ct	0.67mi	3/1.5 (+1)	1,640 (+3%)	10mo	$239,900	$146	51
18532 Percy Ln	0.39mi	3/2.5 (+1)	1,767 (+11%)	7mo	$263,444	$149	50
18582 Percy Ln	0.39mi	3/2.5 (+1)	1,767 (+11%)	9mo	$253,000	$143	47
8330 Kannon Dr	0.40mi	3/2.5 (+1)	1,815 (+14%)	3mo	$285,000	$157	47
8319 Kannon Dr	0.42mi	3/2.5 (+1)	1,767 (+11%)	11mo	$274,000	$155	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.35×
• Total profit: $-47,321
• Equity at exit: $39,036

10-year hold

• IRR: -10.6%
• Equity multiple: 0.36×
• Total profit: $-47,201
• Equity at exit: $22,636

Cash invested: $73,306 (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 46356

• Home prices YoY: -30.1%
• Active inventory: 351
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,349 medium
• Mortgage (P&I): −$1,373
• Tax est. 1.5%: −$327 /mo · $3,927/yr
• Insurance: −$109
• HOA: −$125
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $-79

Break-even live

Break-even rent $2,448

Max offer price $250,424

Occupancy floor 98%

Sensitivity live

Price	-10% $102	-5% $12	+0% $-79	+5% $-169	+10% $-260
Rent	-10% $-264	-5% $-171	+0% $-79	+5% $14	+10% $107
Rate	-1.0pp $53	-0.5pp $-12	base $-79	+0.5pp $-146	+1.0pp $-216

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: $65,451
• Closing costs: $7,854
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8301 Kannon Dr Lowell, IN	3.0	2.5	1717	$2,800	$1.63	17d	1	0.43mi
510 Creekside Dr Lowell, IN	1.0–2.0	1.0–2.0	962	$1,490	$1.55	0d	7	0.45mi
8366 Kannon Dr Lowell, IN	3.0	2.5	1840	$2,450	$1.33	0d	1	0.48mi

HOA detail

• Monthly dues: $125 · $1,500/yr

Listing history 17 events

1. 2026-06-21
   days on market $256,995 Active 262 DOM
2. 2026-06-18
   days on market $256,995 Active 259 DOM
3. 2026-06-17
   days on market $256,995 Active 258 DOM
4. 2026-06-16
   days on market $256,995 Active 257 DOM
5. 2026-06-15
   days on market $256,995 Active 256 DOM
6. 2026-06-13
   days on market $256,995 Active 254 DOM
7. 2026-06-09
   days on market $256,995 Active 250 DOM
8. 2026-06-08
   days on market $256,995 Active 249 DOM
9. 2026-06-07
   days on market $256,995 Active 248 DOM
10. 2026-06-04
    days on market $256,995 Active 245 DOM
11. 2026-06-03
    days on market $256,995 Active 244 DOM
12. 2026-06-02
    days on market $256,995 Active 243 DOM
13. 2026-06-01
    days on market $256,995 Active 242 DOM
14. 2026-05-31
    days on market $256,995 Active 241 DOM
15. 2026-03-10
    price $256,995 1436-char remark

    Show marketing remark (1436 chars)

    Discover the Fenwick, a spacious two-story home designed for flexibility and comfort, featuring 1,596 square feet of modern living space. This new-construction home showcases an inviting open-concept layout, seamlessly connecting the great room, breakfast nook, and kitchen, anchored by a stylish center island workstation with sink, perfect for entertaining or daily life. The Fenwick provides several floorplan options tailored to your lifestyle. The Standard plan includes two bedrooms, a spacious loft, 1.5 baths, and a conveniently placed laundry room upstairs. For added comfort and luxury, you can enhance your home with optional customizations: Transform the loft into a third bedroom and choose the optional grand primary suite, which includes two spacious closets and an en-suite private bath, providing a personal retreat with ample storage. Alternatively, keep the two-bedroom-plus-loft configuration and simply add a private primary bedroom bathroom to elevate your comfort. Other customizations include a sunroom to flood your living space with natural light, a patio for outdoor relaxation, a formal kitchen layout for timeless style, or a basement for expanded living and storage. Built with quality craftsmanship, the Fenwick offers modern living at its best-adaptable, comfortable, and perfectly suited to your unique needs. Explore this versatile two-story home today and experience a floorplan designed just for you.

16. 2025-10-15
    price $251,995 1436-char remark

    Show marketing remark (1436 chars)

    Discover the Fenwick, a spacious two-story home designed for flexibility and comfort, featuring 1,596 square feet of modern living space. This new-construction home showcases an inviting open-concept layout, seamlessly connecting the great room, breakfast nook, and kitchen, anchored by a stylish center island workstation with sink, perfect for entertaining or daily life. The Fenwick provides several floorplan options tailored to your lifestyle. The Standard plan includes two bedrooms, a spacious loft, 1.5 baths, and a conveniently placed laundry room upstairs. For added comfort and luxury, you can enhance your home with optional customizations: Transform the loft into a third bedroom and choose the optional grand primary suite, which includes two spacious closets and an en-suite private bath, providing a personal retreat with ample storage. Alternatively, keep the two-bedroom-plus-loft configuration and simply add a private primary bedroom bathroom to elevate your comfort. Other customizations include a sunroom to flood your living space with natural light, a patio for outdoor relaxation, a formal kitchen layout for timeless style, or a basement for expanded living and storage. Built with quality craftsmanship, the Fenwick offers modern living at its best-adaptable, comfortable, and perfectly suited to your unique needs. Explore this versatile two-story home today and experience a floorplan designed just for you.

17. 2025-10-02
    listed $249,995 Active 1436-char remark

    Show marketing remark (1436 chars)

    Discover the Fenwick, a spacious two-story home designed for flexibility and comfort, featuring 1,596 square feet of modern living space. This new-construction home showcases an inviting open-concept layout, seamlessly connecting the great room, breakfast nook, and kitchen, anchored by a stylish center island workstation with sink, perfect for entertaining or daily life. The Fenwick provides several floorplan options tailored to your lifestyle. The Standard plan includes two bedrooms, a spacious loft, 1.5 baths, and a conveniently placed laundry room upstairs. For added comfort and luxury, you can enhance your home with optional customizations: Transform the loft into a third bedroom and choose the optional grand primary suite, which includes two spacious closets and an en-suite private bath, providing a personal retreat with ample storage. Alternatively, keep the two-bedroom-plus-loft configuration and simply add a private primary bedroom bathroom to elevate your comfort. Other customizations include a sunroom to flood your living space with natural light, a patio for outdoor relaxation, a formal kitchen layout for timeless style, or a basement for expanded living and storage. Built with quality craftsmanship, the Fenwick offers modern living at its best-adaptable, comfortable, and perfectly suited to your unique needs. Explore this versatile two-story home today and experience a floorplan designed just for you.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 16 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: $28,187
• − Mortgage interest: −$14,665
• − Property taxes: −$3,927
• − Insurance: −$1,309
• − Repairs & maintenance: −$2,255
• − Management: −$2,255
• − HOA: −$1,500
• − Depreciation: −$7,616
• Taxable loss: −$5,341
• Est. tax savings @ 24.0%: +$1,282
• After-tax cash flow: $338/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 None rehab

This Fenwick plan townhouse is in good condition with a modern design and ample living space. It is move-in ready with minor maintenance items to address.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and adds value.
• Both Clean gutters — Improves drainage and prevents water damage

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and adds value. ↑
• Both Clean gutters — Improves drainage and prevents water damage ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Tri-Creek School Corporation
• NCES district ID: 1811460
• Math proficiency: 46% ▼ -8.00%
• Reading proficiency: 56% ▼ -5.00%
• Median HH income: $64,614
• Composite: 44.97/100
• National rank: #2704
• State rank: #39 of 301 in IN

Livability — Lowell

• Score: 76/100
• State rank: #51
• US rank: #3455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 19,396
• Population (ZIP): 19,396

Population outlook (Lake County) Hauer SSP2

• Today (2025): 484,026 people
• By 2030: 478,091 · -1.2%
• By 2040: 462,974 · -4.3%
• By 2050: 449,894 · -7.1%
• By 2075: 436,169 · -9.9%
• By 2100: 426,607 · -11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 16% Iranian 10% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% Russian/Polish/Slavic 1%

Political lean MEDSL · Lake

• 2024 margin: Lean D (+5.6) · D 52.1% · R 46.5% · Other 1.5%
• 2008→2024 swing: -28.6pp toward R · 2008: 34.3pp · 2024: 5.6pp
• All cycles: 2024: D+5.6 2020: D+15.1 2016: D+20.6 2012: D+31.0 2008: D+34.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.73%
• Current HPI: 256.6224
• Rent YoY: —
• Metro: —
• 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

+2.8% since first listed

3 events — show timeline

• 2026-03-10 Price Changed $256,995 Zillow
• 2025-10-15 Price Changed $251,995 Zillow
• 2025-10-02 Listed $249,995 Zillow