1026 E Third St · Greenfield, IN 46140

$134,900

3 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 39 Days on market

Built 1900 7,928 sqft lot Est $206k · 34% under

---

Why this score? — see what drove the B+ 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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely renovated, affordable home. New floor coverings and interior paint, kitchen cabinets, dishwasher, water heater, light fixtures. Recent 100 amp electrical service, furnace & central air, roof, windows. Two bedrooms do not have closets. (G-ROC)

Key facts

• Easy access to i-70
• Manageable yard
• Garage potential

Tags

• FUNCTIONAL LAYOUT
• MANAGEABLE YARD
• OFF-STREET PARKING
• GARAGE POTENTIAL
• EASY ACCESS TO I-70
• QUIET RESIDENTIAL SETTING

Property features AI

Exterior

• Parking: No designated parking
• Utilities: Public water; Municipal sewer; No solid waste service listed
• Home design: Single family residence; One story
• Construction: Vinyl and wood siding; Brick foundation
• Exterior features: Covered porch; Fire pit

Interior

• Kitchen: Dishwasher
• Bedrooms: 1 bedroom (main level)
• Bathrooms: 1 full bathroom with tub and shower
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Utility room; Smoke alarm
• Laundry & utility: Main-level laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 4.4% in Greenfield — 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 73/100 on livability (#88 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F.
• Greenfield-Central Community Schools (other): math 47% / reading 45% proficiency, ranked #83 of 301 in IN (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greenfield-Central High School (math 37% / reading 65%, grade D+, #115 of 369 statewide, top 31%, 1,462 students, 35% FRL).
• Market conditions: Rents rising (+2.9%/yr); 481 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $933 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $62k; list at $135k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.27% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.01%
• DSCR: 1.67
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $205,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1214 E Third St	0.16mi	3/1.0	1,080 (-2%)	0mo	$125,000	$116	90
1083 E South St	0.28mi	3/1.0	1,008 (-8%)	1mo	$95,000	$94	73
319 Brookstone Dr	0.53mi	3/2.0	1,110 (+1%)	2mo	$237,500	$214	68
1616 Sweetwater Ln	0.58mi	3/2.0	1,110 (+1%)	1mo	$235,000	$212	67
310 Cherry St	0.11mi	3/1.0	936 (-15%)	5mo	$150,000	$160	66
1647 Sweetwater Ln	0.60mi	3/2.0	1,110 (+1%)	6mo	$229,900	$207	61
604 Wood St	0.56mi	2/1.0 (-1)	1,116 (+2%)	12mo	$209,000	$187	57
1020 E Sixth St	0.19mi	4/1.5 (+1)	1,248 (+14%)	11mo	$155,000	$124	53
1525 Carlton Dr	0.51mi	3/2.0	1,250 (+14%)	4mo	$215,000	$172	47
1625 Willowview Ln	0.57mi	3/2.0	1,236 (+12%)	5mo	$215,000	$174	45
1652 Sweetwater Ln	0.62mi	2/2.0 (-1)	1,022 (-7%)	10mo	$200,000	$196	42
1629 Carlton Dr	0.57mi	3/2.0	1,250 (+14%)	9mo	$235,900	$189	39

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.21×
• Total profit: $8,020
• Equity at exit: $20,114

10-year hold

• IRR: 14.8%
• Equity multiple: 2.19×
• Total profit: $44,859
• Equity at exit: $11,664

Cash invested: $37,772 (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 46140

• Rents YoY: 2.9%
• Active inventory: 481
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,710 high
• Mortgage (P&I): −$707
• Tax from tax record: −$114 /mo · $1,373/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $472

Break-even live

Break-even rent $1,111

Max offer price $134,900

Occupancy floor 67%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1027 E Fourth St Greenfield, IN	3.0	2.0	1430	$1,700	$1.19	24d	1	0.04mi
1014 E Seventh St Greenfield, IN	3.0	1.0	1192	$1,400	$1.17	4d	1	0.24mi
210 Flagstone Dr Greenfield, IN	1.0–3.0	1.0–2.5	1084	$2,254	$2.08	2d	17	0.32mi
432 Baldwin St Greenfield, IN	2.0	1.0	788	$1,425	$1.81	24d	1	0.38mi
550 Wood St Greenfield, IN	2.0	1.0	1162	$1,200	$1.03	4d	1	0.52mi
220 Walker St Greenfield, IN	3.0	1.0	1101	$1,400	$1.27	4d	1	0.67mi
917 E McKenzie Rd Greenfield, IN	1.0–2.0	1.0–1.5	918	$1,199	$1.31	2d	4	0.71mi
685 Gondola Run Greenfield, IN	3.0	2.0	1058	$1,750	$1.65	2d	1	1.19mi
821 W 7th St Greenfield, IN	2.0	2.0	1234	$1,700	$1.38	24d	1	1.35mi
1439 Coachlite Dr Unit Coachlite Greenfield, IN	3.0	1.5	1147	$1,495	$1.30	24d	1	1.41mi
713 Cattail Dr Greenfield, IN	3.0	2.0	1498	$2,045	$1.37	3d	1	1.43mi

Listing history 19 events

1. 2026-06-18
   days on market $134,900 Active 39 DOM
2. 2026-06-17
   days on market $134,900 Active 38 DOM
3. 2026-06-16
   days on market $134,900 Active 37 DOM
4. 2026-06-15
   days on market $134,900 Active 36 DOM
5. 2026-06-13
   days on market $134,900 Active 34 DOM
6. 2026-06-13
   days on market $134,900 Active 33 DOM
7. 2026-06-09
   days on market $134,900 Active 30 DOM
8. 2026-06-08
   days on market $134,900 Active 29 DOM
9. 2026-06-07
   days on market $134,900 Active 28 DOM
10. 2026-06-05
    days on market $134,900 Active 25 DOM
11. 2026-06-03
    days on market $134,900 Active 24 DOM
12. 2026-06-02
    days on market $134,900 Active 23 DOM
13. 2026-06-01
    days on market $134,900 Active 22 DOM
14. 2026-05-31
    days on market $134,900 Active 21 DOM
15. 2026-05-20
    status Pending
16. 2026-05-01
    listed $134,900 Active
17. 2019-04-19
    soldstatus $62,000 Sold 258-char remark

    Show marketing remark (258 chars)

    Completely renovated, affordable home. New floor coverings and interior paint, kitchen cabinets, dishwasher, water heater, light fixtures. Recent 100 amp electrical service, furnace & central air, roof, windows. Two bedrooms do not have closets. (G-ROC)

18. 2019-03-28
    status Pending 258-char remark

    Show marketing remark (258 chars)

    Completely renovated, affordable home. New floor coverings and interior paint, kitchen cabinets, dishwasher, water heater, light fixtures. Recent 100 amp electrical service, furnace & central air, roof, windows. Two bedrooms do not have closets. (G-ROC)

19. 2018-12-03
    listed $74,900 Active 258-char remark

    Show marketing remark (258 chars)

    Completely renovated, affordable home. New floor coverings and interior paint, kitchen cabinets, dishwasher, water heater, light fixtures. Recent 100 amp electrical service, furnace & central air, roof, windows. Two bedrooms do not have closets. (G-ROC)

ⓘ 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: $1,373 · $114/mo
• Projected year-2 tax: $1,373 · $114/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 18 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: $20,514
• − Mortgage interest: −$7,556
• − Property taxes: −$1,373
• − Insurance: −$674
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − Depreciation: −$3,924
• Taxable income: $3,704
• Est. tax owed @ 24.0%: −$889
• After-tax cash flow: $4,781/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: Greenfield-Central Community Schools
• NCES district ID: 1804050
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $55,533
• Composite: 40.01/100
• National rank: #3827
• State rank: #83 of 301 in IN

Livability — Greenfield

• Score: 73/100
• State rank: #88
• US rank: #5094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenfield, IN
• County: Hancock County · 59,521 people
• City population: 43,511
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 43,511
• Household income: $83,056
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 795.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

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: ▼ -131.67%
• Current HPI: 225.0367
• Rent YoY: ▲ 2.88%
• 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

+80.1% since first listed

5 events — show timeline

• 2026-05-20 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-01 Listed $134,900 MIBOR as Distributed by MLS Grid
• 2019-04-19 Sold (MLS) $62,000 MIBOR as Distributed by MLS Grid
• 2019-03-28 Pending — MIBOR as Distributed by MLS Grid
• 2018-12-03 Listed $74,900 MIBOR as Distributed by MLS Grid

Property tax history

+1.8%/yr

Latest (2025): $1,373 · -2.4% YoY. Source: county tax records.