3605 N County Road 950 E · Brownsburg, IN 46112

$279,900

3 bd · 1.5 ba · 1,600 sqft · SingleFamily public records · 20 Days on market

Built 1970 0.46 ac lot Est $293k · at est. ↓ 7% since listing

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Why this score? — see what drove the C- 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 +18.0/30.0
• ARV discount +9.5/15.0
• Schools +6.3/10.0
• DSCR +5.6/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy peaceful country living in this charming ranch home situated on nearly half an acre. A welcoming enclosed front porch leads you inside to a spacious layout featuring both a formal living room and a cozy family room. The family room opens directly to the kitchen, making entertaining effortless. This home offers a desirable three-bedroom split floor plan and beautiful laminate flooring throughout. Step outside to the expansive covered back patio that spans the entire length of the house-a perfect spot to relax and enjoy the quiet surroundings. The fully fenced backyard includes two storage sheds (one with a loft) plus an impressive heated 4+ car garage/pole barn with loft and dog kennel

Key facts

• Cozy family room
• Formal living room
• Spacious layout

Tags

• ENCLOSED FRONT PORCH
• SPACIOUS LAYOUT
• FORMAL LIVING ROOM
• COZY FAMILY ROOM
• EXPANSIVE COVERED BACK PATIO
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: Detached garage (4 car)
• Utilities: Private water; Septic
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Covered, glass-enclosed patio/porch; Mini barn and pole barn; Additional storage; Full yard fencing

Interior

• Kitchen: Electric cooktop; Electric oven; Dishwasher; Refrigerator; Garbage disposal; Water softener (owned)
• Bedrooms: Primary bedroom with walk-in closet; bedroom split layout; Four bedrooms on the main level
• Bathrooms: Three full bathrooms; Primary bathroom with tub and shower
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Attic access; Breakfast bar; Laundry in unit / utility room
• Laundry & utility: Laundry room on main level; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/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 $243k (13.1% below list).
• Recommended offer: $243k (13.1% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 3.8% in Brownsburg — 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 75/100 on livability (#61 in IN, #4,105 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Brownsburg Community School Corporation (suburban): math 72% / reading 72% proficiency, ranked #2 of 301 in IN (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+6.3%/yr); 328 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,294 units permitted in Hendricks County in 2024 (18 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.
• Hendricks County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $243,128 (13.1% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.87% ✗
• Cap rate: 7.32%
• Cash-on-cash: 3.66%
• DSCR: 1.16
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $292,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3605 N County Road 950 E	0.00mi	4/3.0 (+1)	1,600 (0%)	1mo	$284,900	$178	88
3530 N County Road 950 E	0.07mi	3/2.0	1,540 (-4%)	14mo	$267,875	$174	76
9159 E County Road 400 N	0.52mi	3/2.0	1,634 (+2%)	12mo	$369,900	$226	60
3085 N County Road 950 E	0.50mi	3/2.0	1,520 (-5%)	8mo	$315,000	$207	60
3700 Country Ln	0.28mi	3/2.0	1,540 (-4%)	23mo	$354,000	$230	60
9405 E County Road 400 N	0.41mi	3/2.0	1,523 (-5%)	15mo	$266,444	$175	58
9303 Leroy Rd	0.46mi	3/2.5	1,677 (+5%)	13mo	$288,000	$172	56
3225 N County Road 950 E	0.36mi	3/2.0	1,501 (-6%)	20mo	$275,000	$183	54
9189 Dawn Dr	0.63mi	3/2.0	1,545 (-3%)	11mo	$250,000	$162	54
3733 N County Road 900 E	0.49mi	3/2.0	1,694 (+6%)	16mo	$340,000	$201	52
3790 N County Road 950 E	0.17mi	3/2.5	1,835 (+15%)	18mo	$290,000	$158	48
9170 E County Road 300 N	0.64mi	3/2.0	1,369 (-14%)	2mo	$260,000	$190	42

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 · 6.31% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.72×
• Total profit: $-21,887
• Equity at exit: $41,734

10-year hold

• IRR: 5.6%
• Equity multiple: 1.47×
• Total profit: $36,806
• Equity at exit: $24,201

Cash invested: $78,372 (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 46112

• Rents YoY: 6.3%
• Active inventory: 328
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,431 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$97 /mo · $1,167/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $239

Break-even live

Break-even rent $2,129

Max offer price $279,900

Occupancy floor 85%

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
460 Brookview Dr Brownsburg, IN	4.0	2.5	2240	$2,600	$1.16	43d	1	1.02mi
8267 Templederry Dr Brownsburg, IN	3.0	2.0	1804	$2,145	$1.19	43d	1	1.37mi

Listing history 7 events

1. 2026-05-08
   status Pending
2. 2026-05-08
   status Active
3. 2026-04-30
   status Pending
4. 2026-04-19
   price $279,900
5. 2026-04-17
   price $285,000
6. 2026-04-15
   price $289,900
7. 2026-04-09
   listed $299,900 Active

ⓘ 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: $1,167 · $97/mo
• Projected year-2 tax: $1,773 · $148/mo
• Expected delta: +$606/yr (+$50/mo · 51.9%)

ⓘ 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 · 19 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: $29,175
• − Mortgage interest: −$15,679
• − Property taxes: −$1,167
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,334
• − Management: −$2,334
• − Depreciation: −$8,143
• Taxable loss: −$1,881
• Est. tax savings @ 24.0%: +$451
• After-tax cash flow: $3,319/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: Brownsburg Community School Corporation
• NCES district ID: 1801020
• Math proficiency: 72% ▼ -5.00%
• Reading proficiency: 72% ▼ -4.00%
• Median HH income: $75,304
• Composite: 63.45/100
• National rank: #616
• State rank: #2 of 301 in IN

Livability — Brownsburg

• Score: 75/100
• State rank: #61
• US rank: #4105

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hendricks County · 143,373 people
• City population: 44,220
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 44,220
• Household income: $112,565
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 614.0

Population outlook (Hendricks County) Hauer SSP2

• Today (2025): 187,418 people
• By 2030: 201,494 · +7.5%
• By 2040: 228,487 · +21.9%
• By 2050: 253,068 · +35.0%
• By 2075: 308,920 · +64.8%
• By 2100: 336,510 · +79.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 10% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Slovak 3% Iranian 2% Romanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Hendricks

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.7%
• 2008→2024 swing: +1.9pp toward D · 2008: -23.4pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+23.9 2016: R+34.2 2012: R+34.9 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.99%
• Current HPI: 217.3787
• Rent YoY: ▲ 6.31%
• 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

-6.7% since first listed

7 events — show timeline

• 2026-05-08 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-08 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-30 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-19 Price Changed $279,900 MIBOR as Distributed by MLS Grid
• 2026-04-17 Price Changed $285,000 MIBOR as Distributed by MLS Grid
• 2026-04-15 Price Changed $289,900 MIBOR as Distributed by MLS Grid
• 2026-04-09 Listed $299,900 MIBOR as Distributed by MLS Grid

Property tax history

-2.3%/yr

Latest (2025): $1,167 · -8.2% YoY. Source: county tax records.