937 Ellington Cir · Greenwood, IN 46143

$262,000

3 bd · 2.0 ba · 1,352 sqft · SingleFamily public records · 150 Days on market

Built 1996 1,352 sqft lot $194/sqft · 6% below area Est $279k · 6% under $23/mo HOA · 1% 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 +11.0/30.0
• ARV discount +10.3/15.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• DSCR +3.2/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 3-bedroom, 2-bath ranch in the conveniently located Ashton Parke neighborhood! This home offers an open-concept layout with laminate hardwood flooring throughout and a bright, open kitchen ideal for everyday living and entertaining. The cozy fireplace adds warmth to the living space, while the spacious backyard provides plenty of room to relax, play, or host gatherings. Enjoy comfort, functionality, and a great location all in one-don't miss this opportunity! Schedule your tour today!

Key facts

• Spacious backyard
• Great location
• Cozy fireplace

Tags

• OPEN CONCEPT LAYOUT
• LAMINATE HARDWOOD FLOORING
• BRIGHT OPEN KITCHEN
• COZY FIREPLACE
• SPACIOUS BACKYARD
• GREAT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $262k.

Deal economics

• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (7.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (28.8% below list).
• Recommended offer: $187k (28.8% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.5% in Greenwood — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 73/100 on livability (#91 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Greenwood Community School Corporation (suburban): math 41% / reading 52% proficiency, ranked #88 of 301 in IN (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.9%/yr); 79 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,133 units permitted in Johnson County in 2024 (0 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.
• Johnson County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $23k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $186,633 (28.8% 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 150 days. Have you received any prior offers? Is the seller open to a 29% 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: 0.71% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.84%
• DSCR: 0.92
• GRM: 11.7

CMA / ARV

• ARV (median comp): $279,194
• List price: $262,000
• Delta: -6.16%
• 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
800 Cypress N	0.24mi	3/2.0	1,322 (-2%)	3mo	$238,000	$180	83
827 Peppermill Run	0.30mi	2/2.0 (-1)	1,381 (+2%)	1mo	$265,000	$192	77
850 Jennifer Dr	0.10mi	3/2.0	1,470 (+9%)	8mo	$279,000	$190	74
1045 Peppermill Run	0.30mi	2/2.0 (-1)	1,235 (-9%)	2mo	$227,500	$184	65
873 Sheffield Dr	0.73mi	3/2.0	1,361 (+1%)	2mo	$279,000	$205	63
674 Cottage Ln	0.42mi	2/2.0 (-1)	1,271 (-6%)	3mo	$245,000	$193	63
786 Stonemill Dr	0.27mi	2/2.0 (-1)	1,236 (-9%)	7mo	$265,000	$214	62
1241 Cutler Ln	0.63mi	3/2.5	1,304 (-4%)	1mo	$215,000	$165	62
1216 Odell Ln	0.75mi	3/2.5	1,309 (-3%)	0mo	$215,000	$164	58
681 Cottage Ln	0.42mi	2/2.0 (-1)	1,236 (-9%)	4mo	$235,000	$190	58
639 Averitt Rd	0.38mi	3/1.0	1,550 (+15%)	2mo	$200,000	$129	52
581 Gatewood Dr	0.62mi	3/2.0	1,495 (+11%)	2mo	$289,900	$194	51

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 · 1.95% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.30×
• Total profit: $-51,663
• Equity at exit: $39,065

10-year hold

• IRR: -15.8%
• Equity multiple: 0.15×
• Total profit: $-62,474
• Equity at exit: $22,653

Cash invested: $73,360 (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 46143

• Rents YoY: 1.9%
• Active inventory: 79
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,866 high
• Mortgage (P&I): −$1,374
• Tax from tax record: −$80 /mo · $966/yr
• Insurance: −$109
• HOA: −$23
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $-112

Break-even live

Break-even rent $2,008

Max offer price $242,178

Occupancy floor —

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: $65,500
• Closing costs: $7,860
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
757 Cypress S Greenwood, IN	3.0	2.0	1474	$1,900	$1.29	43d	1	0.08mi
1284 Edgewater Dr Greenwood, IN	3.0	2.5	1304	$1,781	$1.37	23d	1	0.52mi
1146 Freemont Ln Greenwood, IN	3.0	2.5	1742	$2,060	$1.18	4d	1	0.69mi
1318 Crescent Dr Greenwood, IN	3.0	2.5	1747	$1,600	$0.92	23d	1	0.71mi
1225 Freemont Ln Greenwood, IN	3.0	2.5	1304	$1,750	$1.34	10d	1	0.72mi
1335 Millridge Dr Greenwood, IN	3.0	2.0	1119	$1,715	$1.53	4d	1	0.76mi
902 Wallington Cir Greenwood, IN	1.0–3.0	1.0–1.5	899	$1,673	$1.86	2d	21	0.79mi
644 Blue Meadow Dr Greenwood, IN	3.0	2.5	1686	$1,820	$1.08	7d	1	0.83mi
1285 Kenwood Dr Greenwood, IN	3.0	2.5	1470	$1,755	$1.19	23d	1	0.84mi
1748 Long Lake Dr Greenwood, IN	3.0	2.0	1431	$1,809	$1.26	14d	1	0.85mi
651 Day Break Dr Greenwood, IN	3.0	2.0	1100	$1,799	$1.64	7d	1	0.89mi
1570 Countryside Dr Greenwood, IN	1.0–3.0	1.0–2.5	946	$1,740	$1.84	20d	1	0.94mi
225 Pebble Creek Dr Greenwood, IN	3.0	2.0	1792	$1,499	$0.84	12d	1	1.08mi
872 Cherry Tree Ln Greenwood, IN	3.0	2.0	1589	$1,895	$1.19	2d	1	1.18mi
132 Westridge Pl Greenwood, IN	4.0	2.5	1680	$1,915	$1.14	12d	1	1.40mi
601 Wood Dale Ter Greenwood, IN	2.0	1.5	960	$1,174	$1.22	44d	1	1.48mi

HOA detail

• Monthly dues: $23 · $276/yr

Listing history 24 events

1. 2026-06-18
   days on market $262,000 Active 150 DOM
2. 2026-06-17
   days on market $262,000 Active 149 DOM
3. 2026-06-16
   days on market $262,000 Active 148 DOM
4. 2026-06-15
   days on market $262,000 Active 147 DOM
5. 2026-06-13
   days on market $262,000 Active 145 DOM
6. 2026-06-13
   days on market $262,000 Active 144 DOM
7. 2026-06-09
   days on market $262,000 Active 141 DOM
8. 2026-06-08
   days on market $262,000 Active 140 DOM
9. 2026-06-07
   days on market $262,000 Active 139 DOM
10. 2026-06-03
    days on market $262,000 Active 135 DOM
11. 2026-06-02
    days on market $262,000 Active 134 DOM
12. 2026-06-01
    days on market $262,000 Active 133 DOM
13. 2026-05-31
    days on market $262,000 Active 132 DOM
14. 2026-04-27
    price $262,000 514-char remark

    Show marketing remark (514 chars)

    Welcome to this charming 3-bedroom, 2-bath ranch in the conveniently located Ashton Parke neighborhood! This home offers an open-concept layout with laminate hardwood flooring throughout and a bright, open kitchen ideal for everyday living and entertaining. The cozy fireplace adds warmth to the living space, while the spacious backyard provides plenty of room to relax, play, or host gatherings. Enjoy comfort, functionality, and a great location all in one-don't miss this opportunity! Schedule your tour today!

15. 2026-04-10
    price $269,000 514-char remark

    Show marketing remark (514 chars)

    Welcome to this charming 3-bedroom, 2-bath ranch in the conveniently located Ashton Parke neighborhood! This home offers an open-concept layout with laminate hardwood flooring throughout and a bright, open kitchen ideal for everyday living and entertaining. The cozy fireplace adds warmth to the living space, while the spacious backyard provides plenty of room to relax, play, or host gatherings. Enjoy comfort, functionality, and a great location all in one-don't miss this opportunity! Schedule your tour today!

16. 2026-03-09
    price $275,000 514-char remark

    Show marketing remark (514 chars)

    Welcome to this charming 3-bedroom, 2-bath ranch in the conveniently located Ashton Parke neighborhood! This home offers an open-concept layout with laminate hardwood flooring throughout and a bright, open kitchen ideal for everyday living and entertaining. The cozy fireplace adds warmth to the living space, while the spacious backyard provides plenty of room to relax, play, or host gatherings. Enjoy comfort, functionality, and a great location all in one-don't miss this opportunity! Schedule your tour today!

17. 2026-01-19
    listed $285,000 Active 514-char remark

    Show marketing remark (514 chars)

    Welcome to this charming 3-bedroom, 2-bath ranch in the conveniently located Ashton Parke neighborhood! This home offers an open-concept layout with laminate hardwood flooring throughout and a bright, open kitchen ideal for everyday living and entertaining. The cozy fireplace adds warmth to the living space, while the spacious backyard provides plenty of room to relax, play, or host gatherings. Enjoy comfort, functionality, and a great location all in one-don't miss this opportunity! Schedule your tour today!

18. 2024-06-20
    soldstatus $272,000 Closed 712-char remark

    Show marketing remark (712 chars)

    Beautiful 3 bed 2 bath ranch in the conveniently located Ashton Parke neighborhood. You will fall in love with this beautifully finished ranch style home the moment you step in the front door. The large entry way leads to the great room with soaring ceilings and completed by a cozy fireplace. Laminate hardwoods run throughout the home lending a seamless transition from the great room to the open kitchen. The master bedroom will feel like a true retreat with the on-suite full bath complete with a large jetted tub and huge walk-in closet is a welcomed addition. New roof, furnace, and air conditioner in 2023 and new water heater in 2022. No shortage of backyard space great for entertaining. Don't miss out!

19. 2024-06-02
    status Pending 712-char remark

    Show marketing remark (712 chars)

    Beautiful 3 bed 2 bath ranch in the conveniently located Ashton Parke neighborhood. You will fall in love with this beautifully finished ranch style home the moment you step in the front door. The large entry way leads to the great room with soaring ceilings and completed by a cozy fireplace. Laminate hardwoods run throughout the home lending a seamless transition from the great room to the open kitchen. The master bedroom will feel like a true retreat with the on-suite full bath complete with a large jetted tub and huge walk-in closet is a welcomed addition. New roof, furnace, and air conditioner in 2023 and new water heater in 2022. No shortage of backyard space great for entertaining. Don't miss out!

20. 2024-05-29
    listed $266,900 Active 712-char remark

    Show marketing remark (712 chars)

    Beautiful 3 bed 2 bath ranch in the conveniently located Ashton Parke neighborhood. You will fall in love with this beautifully finished ranch style home the moment you step in the front door. The large entry way leads to the great room with soaring ceilings and completed by a cozy fireplace. Laminate hardwoods run throughout the home lending a seamless transition from the great room to the open kitchen. The master bedroom will feel like a true retreat with the on-suite full bath complete with a large jetted tub and huge walk-in closet is a welcomed addition. New roof, furnace, and air conditioner in 2023 and new water heater in 2022. No shortage of backyard space great for entertaining. Don't miss out!

21. 2016-08-19
    soldstatus $116,900 Sold
22. 2016-08-12
    status Pending
23. 2016-07-05
    historical Active with Contingency
24. 2016-07-02
    listed $116,900 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: $966 · $80/mo
• Projected year-2 tax: $1,596 · $133/mo
• Expected delta: +$631/yr (+$53/mo · 65.3%)

ⓘ 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 4/10 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,396
• − Mortgage interest: −$14,676
• − Property taxes: −$966
• − Insurance: −$1,310
• − Repairs & maintenance: −$1,792
• − Management: −$1,792
• − HOA: −$276
• − Depreciation: −$7,622
• Taxable loss: −$6,037
• Est. tax savings @ 24.0%: +$1,449
• After-tax cash flow: $102/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: Greenwood Community School Corporation
• NCES district ID: 1804110
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 52% ▼ -7.00%
• Median HH income: $48,589
• Composite: 39.71/100
• National rank: #3902
• State rank: #88 of 301 in IN

Livability — Greenwood

• Score: 73/100
• State rank: #91
• US rank: #5255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenwood, IN
• County: Johnson County · 154,261 people
• City population: 96,151
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 61,803
• Household income: $91,496
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1513.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 170,080 people
• By 2030: 179,983 · +5.8%
• By 2040: 198,580 · +16.8%
• By 2050: 214,661 · +26.2%
• By 2075: 247,990 · +45.8%
• By 2100: 257,821 · +51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Asian 8% Black 5% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 88% English-only · Other Indo-European 6% Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+34.3) · D 32.0% · R 66.3% · Other 1.7%
• 2008→2024 swing: -8.9pp toward R · 2008: -25.5pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+34.1 2016: R+42.5 2012: R+38.5 2008: R+25.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.72%
• Current HPI: 204.3161
• Rent YoY: ▲ 1.95%
• 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

+124.1% since first listed

11 events — show timeline

• 2026-04-27 Price Changed $262,000 MIBOR as Distributed by MLS Grid
• 2026-04-10 Price Changed $269,000 MIBOR as Distributed by MLS Grid
• 2026-03-09 Price Changed $275,000 MIBOR as Distributed by MLS Grid
• 2026-01-19 Listed $285,000 MIBOR as Distributed by MLS Grid
• 2024-06-20 Sold (MLS) $272,000 MIBOR as Distributed by MLS Grid
• 2024-06-02 Pending — MIBOR as Distributed by MLS Grid
• 2024-05-29 Listed $266,900 MIBOR as Distributed by MLS Grid
• 2016-08-19 Sold (MLS) $116,900 MIBOR as Distributed by MLS Grid
• 2016-08-12 Pending — MIBOR as Distributed by MLS Grid
• 2016-07-05 Contingent — MIBOR as Distributed by MLS Grid
• 2016-07-02 Listed $116,900 MIBOR as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2024): $966 · +7.7% YoY. Source: county tax records.