2061 Derby Way · Memphis, IN 47143

$277,990

4 bd · 2.5 ba · 2,014 sqft · SingleFamily · 52 Days on market

Built 2026 0.30 ac lot Est $278k · at est. $29/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 +11.9/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• 1% rule +3.6/10.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your dream home in the Champions Run The stylish Essex Plan this is a 2-story gem offers a spacious open layout perfect for entertaining and everyday living. The inviting kitchen features elegant cabinetry, granite countertops and stainless steel appliances, including a range with a microwave hood and a modern dishwasher. The main floor also includes a versatile flex room and a chic half bathroom for guests. Upstairs, unwind in the tranquil primary suite with a en-suite bathroom and a generous walk-in closet. Three additional bedrooms with walk-in closets share a full bathroom. A cozy loft and a convenient walk-in laundry room enhance functionality. Energy-efficient Low-E windows

Key facts

• Inviting kitchen
• Elegant cabinetry
• Open layout

Tags

• OPEN LAYOUT
• INVITING KITCHEN
• ELEGANT CABINETRY
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• FLEX ROOM

Property features AI

Finance

• Other: Lot described as irregular; Lot size about 0.3 acres
• HOA & community: Homeowners association with an annual fee of $350

Exterior

• Parking: Attached garage; 2 garage spaces; Garage with opener
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Single family residence; Site-built home; 2 stories; Built by Century Complete
• Construction: Vinyl siding; Slab foundation; Built above grade finished area: 2,014
• Exterior features: Shingle roof; Windows with energy-efficient features

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: Total rooms: 4
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Dishwasher; Microwave; Vinyl flooring
• Laundry & utility: Laundry located on upper level

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $278k.

Deal economics

• At list price, monthly cash flow is $-71 ($-854/yr) — negative.
• To cash-flow at today's rent, offer at most $268k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (14.4% below list).
• Recommended offer: $238k (14.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 5.0% in Memphis — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 70/100 on livability (#164 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Zoned schools: Henryville Elementary School (math 30% / reading 33%, grade F, #678 of 994 statewide, top 68%, 647 students, 43% FRL); Henryville Jr & Sr High School (math 29% / reading 45%, grade F, #247 of 369 statewide, top 70%, 461 students, 32% FRL).
• Market conditions: 94 active listings in the ZIP; 911 units permitted in Clark County in 2024 (133 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.
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($270k) is reasonable based on typical stale-listing flexibility.

Recommended offer $237,839 (14.4% 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 52 days. Have you received any prior offers? Is the seller open to a 14% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.86% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.10%
• DSCR: 0.95
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $277,932
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2061 Derby Way	0.00mi	4/2.5	2,014 (0%)	1mo	$277,990	$138	99
2013 Derby Way	0.00mi	4/2.5	2,053 (+2%)	2mo	$299,900	$146	95
2068 Derby Way	0.06mi	4/2.5	2,014 (0%)	6mo	$264,991	$132	92
2014 Derby Way	0.06mi	4/2.5	1,953 (-3%)	3mo	$279,900	$143	89
1008 Legend Ct	0.28mi	4/2.5	2,014 (0%)	3mo	$259,990	$129	84
2060 Derby Way	0.06mi	5/3.0 (+1)	2,180 (+8%)	1mo	$289,990	$133	75
2019 Derby Way	0.00mi	4/2.0	1,771 (-12%)	5mo	$278,975	$158	74
2074 Derby Way	0.06mi	5/3.0 (+1)	2,180 (+8%)	4mo	$279,990	$128	73
2072 Derby Way	0.06mi	5/3.0 (+1)	2,180 (+8%)	6mo	$284,991	$131	72
1024 Legend Ct	0.28mi	5/3.0 (+1)	2,180 (+8%)	6mo	$266,491	$122	62
1010 Legend Ct	0.27mi	4/3.0	1,774 (-12%)	7mo	$249,991	$141	60
1014 Legend Ct	0.26mi	4/3.0	1,774 (-12%)	8mo	$254,991	$144	60

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: -18.1%
• Equity multiple: 0.36×
• Total profit: $-49,527
• Equity at exit: $41,449

10-year hold

• IRR: -10.3%
• Equity multiple: 0.37×
• Total profit: $-48,748
• Equity at exit: $24,035

Cash invested: $77,837 (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 47143

• Home prices YoY: -30.4%
• Active inventory: 94
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,378 medium
• Mortgage (P&I): −$1,458
• Tax est. 1.5%: −$347 /mo · $4,170/yr
• Insurance: −$116
• HOA: −$29
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $-71

Break-even live

Break-even rent $2,469

Max offer price $267,687

Occupancy floor 98%

Sensitivity live

Price	-10% $121	-5% $25	+0% $-71	+5% $-167	+10% $-263
Rent	-10% $-259	-5% $-165	+0% $-71	+5% $23	+10% $117
Rate	-1.0pp $69	-0.5pp $0	base $-71	+0.5pp $-143	+1.0pp $-217

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: $69,498
• Closing costs: $8,340
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $29 · $348/yr

Listing history 6 events

1. 2026-05-01
   status Pending
2. 2026-04-23
   price $277,990
3. 2026-04-10
   price $282,990
4. 2026-03-10
   listed $281,990 Active
5. 2026-03-03
   price $281,990
6. 2026-02-04
   price $267,990

ⓘ 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 4/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,541
• − Mortgage interest: −$15,572
• − Property taxes: −$4,170
• − Insurance: −$1,390
• − Repairs & maintenance: −$2,283
• − Management: −$2,283
• − HOA: −$348
• − Depreciation: −$8,087
• Taxable loss: −$5,592
• Est. tax savings @ 24.0%: +$1,342
• After-tax cash flow: $488/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)

No district data.

Livability — Memphis

• Score: 70/100
• State rank: #164
• US rank: #7848

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Memphis, IN
• Population (ZIP): 3,775

Population outlook (Clark County) Hauer SSP2

• Today (2025): 126,401 people
• By 2030: 131,455 · +4.0%
• By 2040: 140,471 · +11.1%
• By 2050: 147,677 · +16.8%
• By 2075: 161,702 · +27.9%
• By 2100: 164,078 · +29.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6% Hispanic / Latino 2% Black 1%
• Common ancestry: Italian 5% American 3% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+20.4) · D 38.9% · R 59.3% · Other 1.8%
• 2008→2024 swing: -13.3pp toward R · 2008: -7.1pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+18.3 2016: R+22.0 2012: R+9.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.60%
• Current HPI: 184.1286
• 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

+3.7% since first listed

6 events — show timeline

• 2026-05-01 Pending — IRMLS
• 2026-04-23 Price Changed $277,990 IRMLS
• 2026-04-10 Price Changed $282,990 IRMLS
• 2026-03-10 Listed $281,990 IRMLS
• 2026-03-03 Price Changed $281,990 SIRA
• 2026-02-04 Price Changed $267,990 SIRA