1015 Candlestick Dr · Lebanon, IN 46052

$260,000

3 bd · 2.0 ba · 1,418 sqft · SingleFamily public records · 3 Days on market

Built 1996 7,797 sqft lot Est $271k · at est. $8/mo HOA

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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 +14.3/30.0
• ARV discount +9.3/15.0
• DSCR +4.4/10.0
• Schools +3.7/10.0
• 1% rule +3.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

You'll enjoy this nicely updated ranch home with fenced in rear yard and swimming pool. Home boasts 3 large bedrooms and 2 full bathrooms. Dining bar in kitchen with a separate dining room area as well. Great room with gas fireplace and nice rear deck. Great location on the North side of Lebanon.

Key facts

• Laminate flooring
• Gas log fireplace
• Double vanities

Tags

• LAMINATE FLOORING
• GAS LOG FIREPLACE
• SAMSUNG KITCHEN APPLIANCES
• DOUBLE VANITIES
• WALK IN SHOWER
• BACKYARD SPACE

Property features AI

Finance

• Other: Ownership interest: Mandatory fee
• HOA & community: Homeowners association with an annual fee of $100 (covers entrance common); Has HOA

Exterior

• Parking: Attached garage with garage door opener; 2-car garage
• Security: Fire alarm
• Utilities: Public water; Municipal sewer connection; No solid waste service listed
• Home design: Single-family residence; One level
• Construction: Vinyl with brick exterior; Slab foundation
• Exterior features: Deck; Mini barn; Gas grill; Full yard fencing; Sidewalks; Street lights; Mature trees

Interior

• Kitchen: Gas cooktop; Gas oven; Dishwasher; Microwave; Disposal; Refrigerator
• Bedrooms: Three bedrooms on the main level; Primary bedroom with walk-in closet
• Bathrooms: Two full bathrooms; Primary bath with double sinks, full tub and separate shower
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Cathedral ceilings; Pantry; Walk-in closet(s); Painted woodwork
• Laundry & utility: Washer and dryer included; Laundry on the main level; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $48 ($582/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 $217k (16.6% below list).
• Recommended offer: $217k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.6% in Lebanon — 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 66/100 on livability (#296 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lebanon Community School Corporation (town): math 41% / reading 44% proficiency, ranked #115 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harney Elementary School (math 32% / reading 28%, grade F, #693 of 994 statewide, top 70%, 504 students, 44% FRL); Lebanon Middle School (math 35% / reading 40%, grade F, #146 of 330 statewide, top 46%, 807 students, 46% FRL); Lebanon Senior High School (math 43% / reading 68%, grade C, #75 of 369 statewide, top 20%, 1,027 students, 38% FRL).
• Market conditions: 185 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 898 units permitted in Boone County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Boone County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 13y 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 $225k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $216,752 (16.6% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.83% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $270,838
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2102 Yosemite Dr	0.06mi	3/2.0	1,400 (-1%)	3mo	$263,000	$188	92
2114 Yosemite Dr	0.08mi	3/2.0	1,440 (+2%)	7mo	$252,000	$175	88
1020 Northfield Dr	0.31mi	3/2.0	1,435 (+1%)	1mo	$253,864	$177	83
2123 Candlestick Ct	0.09mi	3/2.5	1,492 (+5%)	4mo	$285,000	$191	82
1010 Maple Dr W	0.09mi	3/2.0	1,304 (-8%)	3mo	$260,000	$199	80
2009 Jason Dr	0.14mi	3/2.0	1,296 (-9%)	3mo	$225,000	$174	77
2121 Jason Dr	0.17mi	3/2.0	1,216 (-14%)	1mo	$250,000	$206	68
2114 Hannah Ct	0.41mi	3/2.5	1,326 (-6%)	2mo	$275,000	$207	66
208 Tahoe Dr	0.64mi	3/2.0	1,417 (-0%)	6mo	$310,000	$219	65
1506 Austin Dr	0.38mi	3/2.5	1,530 (+8%)	5mo	$285,000	$186	63
816 Northfield Dr	0.36mi	3/1.5	1,268 (-11%)	5mo	$252,000	$199	59
214 Lakeshore Dr	0.64mi	2/2.0 (-1)	1,624 (+14%)	8mo	$290,000	$179	34

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: -15.0%
• Equity multiple: 0.46×
• Total profit: $-39,092
• Equity at exit: $38,767

10-year hold

• IRR: -6.5%
• Equity multiple: 0.58×
• Total profit: $-30,263
• Equity at exit: $22,480

Cash invested: $72,800 (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 46052

• Active inventory: 185
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,168 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$184 /mo · $2,209/yr
• Insurance: −$108
• HOA: −$8
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $48

Break-even live

Break-even rent $2,106

Max offer price $260,000

Occupancy floor 93%

Sensitivity live

Price	-10% $196	-5% $122	+0% $48	+5% $-25	+10% $-99
Rent	-10% $-123	-5% $-37	+0% $48	+5% $134	+10% $220
Rate	-1.0pp $179	-0.5pp $115	base $48	+0.5pp $-19	+1.0pp $-87

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2102 Yosemite Dr Lebanon, IN	3.0	2.0	1400	$2,300	$1.64	6d	1	0.07mi
2102 Yosemite Dr Lebanon, IN	3.0	2.0	1400	$2,300	$1.64	16d	1	0.07mi
806 Harney Dr Lebanon, IN	3.0	1.0	1170	$2,500	$2.14	19d	1	0.49mi
1704 Crimson Ln Lebanon, IN	3.0	2.0	1110	$2,000	$1.80	19d	1	0.54mi
830 Campbell St Lebanon, IN	2.0–4.0	2.0	1728	$1,604	$0.93	0d	1	0.82mi
721 Crown Pointe Dr Lebanon, IN	2.0–3.0	1.0–2.0	991	$1,413	$1.43	0d	5	0.88mi
411 East Dr Ulen, IN	3.0	1.0	1588	$1,450	$0.91	13d	1	0.89mi
718 N Lebanon St Lebanon, IN	4.0	1.5	1560	$1,795	$1.15	25d	1	0.99mi
814 Powell St Lebanon, IN	4.0	1.5	1647	$1,650	$1.00	23d	1	1.09mi
702 Edgewood Dr Lebanon, IN	3.0	1.5	1026	$1,595	$1.55	22d	1	1.37mi
114 S Meridian St Lebanon, IN	2.0	2.0	1200	$1,595	$1.33	9d	1	1.43mi
230 S Lebanon St Lebanon, IN	2.0	1.0–2.0	676	$1,550	$2.29	0d	2	1.49mi

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: gaspool

Listing history 3 events

1. 2026-06-15
   statusdays on market $260,000 Pending 3 DOM
2. 2026-06-13
   remarks 693-char remark
3. 2026-06-13
   listed $260,000 Active 2 DOM

ⓘ 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: $2,209 · $184/mo
• Projected year-2 tax: $2,209 · $184/mo
• Expected delta: +$1/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 (unshaded) · 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 0% 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: $26,010
• − Mortgage interest: −$14,564
• − Property taxes: −$2,209
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,081
• − Management: −$2,081
• − HOA: −$96
• − Depreciation: −$7,564
• Taxable loss: −$3,884
• Est. tax savings @ 24.0%: +$932
• After-tax cash flow: $1,514/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: Lebanon Community School Corporation
• NCES district ID: 1805790
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $52,178
• Composite: 36.77/100
• National rank: #4571
• State rank: #115 of 301 in IN

Livability — Lebanon

• Score: 66/100
• State rank: #296
• US rank: #11943

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lebanon, IN
• County: Boone County · 69,822 people
• City population: 23,553
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 23,553
• Household income: $68,930
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 235.0

Population outlook (Boone County) Hauer SSP2

• Today (2025): 77,877 people
• By 2030: 85,185 · +9.4%
• By 2040: 99,753 · +28.1%
• By 2050: 113,572 · +45.8%
• By 2075: 145,674 · +87.1%
• By 2100: 161,165 · +106.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 6% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 4% Slovak 2% Italian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Boone

• 2024 margin: R (+16.0) · D 41.0% · R 57.0% · Other 2.0%
• 2008→2024 swing: +9.8pp toward D · 2008: -25.8pp · 2024: -16.0pp
• All cycles: 2024: R+16.0 2020: R+18.4 2016: R+29.5 2012: R+37.8 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -188.54%
• Current HPI: 229.2844
• Rent YoY: —
• 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

+116.8% since first listed

10 events — show timeline

• 2026-06-11 Listed $260,000 MIBOR as Distributed by MLS Grid
• 2021-06-01 Sold (MLS) $225,000 MIBOR as Distributed by MLS Grid
• 2021-05-01 Pending — MIBOR as Distributed by MLS Grid
• 2021-04-27 Listed $212,000 MIBOR as Distributed by MLS Grid
• 2020-07-01 Sold (MLS) $181,750 MIBOR as Distributed by MLS Grid
• 2020-06-03 Pending — MIBOR as Distributed by MLS Grid
• 2020-06-03 Listed $181,750 MIBOR as Distributed by MLS Grid
• 2013-11-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-11-11 Sold (MLS) $119,900 MIBOR as Distributed by MLS Grid
• 2013-09-27 Listed $119,900 MIBOR as Distributed by MLS Grid

Property tax history

+8.4%/yr

Latest (2025): $2,209 · -7.9% YoY. Source: county tax records.