Is 4405 Wren Pl in Valparaiso, IN a good investment?

CashFlowRE grades it D+ with a 5.7% cap rate and $-187/mo modeled cash flow at a $366,306 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 4405 Wren Pl?

The modeled cap rate is 5.7% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $3,022/month, from CashFlowRE's rent model.

D+ Composite 48.54

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).

ARV discount +15.0/15.0
Cash flow +10.5/30.0
Schools +6.2/10.0
Livability +4.1/5.0
Condition / age +4.0/5.0
1% rule +3.3/10.0
DSCR +3.0/10.0
Rent growth +2.5/5.0
Appreciation +0.0/10.0

$366,306

4405 Wren Pl · Valparaiso, IN 46385

5 bd · 2.5 ba · 2,166 sqft · SingleFamily · 38 Days on market

Built 2026 Good condition 8,494 sqft lot Garage $169/sqft · 21% below area Est $466k · 21% under $43/mo HOA · 1% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

More home. More life. More of what matters. The Jade is proof that thoughtful design and everyday value can live in the same address. With 5 bedrooms and 2.5 baths, there's room for everyone to have their own space without sacrificing the shared spaces that bring you together. The open-concept kitchen and great room is where daily life happens. Quartz countertops, stainless steel appliances, luxury vinyl flooring, and 9-foot ceilings make it feel bright, modern, and genuinely welcoming. A flexible office space means your home works as hard as you do. The owner's suite is your quiet corner at the end of the day, complete with a walk-in shower and walk-in closet designed for real life, not just a showroom. And the details that often get overlooked? They're already taken care of. A Rinnai tankless water heater, full yard landscaping, and quality finishes throughout mean you can move in and simply start living. Come see the Jade for yourself. Schedule a Tour today.

Key facts

Open-concept kitchen
Laundry room
Attached bathroom

What this means for you Summary

Snapshot

This is a 5-bed/2.5-bath single-family listed at $366k. Condition is rated good.

Deal economics

At list price, monthly cash flow is $-187 ($-2k/yr) — negative.
To cash-flow at today's rent, offer at most $339k (7.4% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $302k (17.5% below list).
Recommended offer: $302k (17.5% below list) — sets the bar for 1% rule.
Cap rate 5.7% vs local median 3.2% in Valparaiso — 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 82/100 on livability (#12 in IN, #1,149 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
Valparaiso Community Schools (suburban): math 56% / reading 64% proficiency, ranked #18 of 301 in IN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
Zoned schools: Cooks Corners Elementary School (math 58% / reading 59%, grade B-, #156 of 994 statewide, top 16%, 470 students, 23% FRL); Benjamin Franklin Middle School (math 49% / reading 65%, grade B, #21 of 330 statewide, top 6%, 821 students, 22% FRL); Valparaiso High School (math 60% / reading 78%, grade B, #19 of 369 statewide, top 5%, 2,098 students, 30% FRL) — zoned schools at 25% FRL track the district average.
Market conditions: 721 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).
This rent runs 37% of the median local income ($99k/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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

It's been on market 38 days — a 3% lower offer ($355k) is reasonable based on typical stale-listing flexibility.
2 sale attempts 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.

Recommended offer $302,239 (17.5% below list)

Questions for the listing agent

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?
It's been on market 38 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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?
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.
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.
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: 5.68%
Cash-on-cash: -2.19%
DSCR: 0.90
GRM: 10.1

CMA / ARV

ARV (median comp): $465,638
List price: $366,306
Delta: -21.33%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
528 Hampton Manor Ct	0.33mi	4/2.5 (-1)	2,282 (+5%)	5mo	$463,900	$203	66
4208 Iron Gate Dr	0.14mi	4/2.5 (-1)	2,387 (+10%)	9mo	$420,000	$176	64
3756 Fender St	0.51mi	4/2.5 (-1)	2,203 (+2%)	12mo	$388,405	$176	59
3522 Brander Dr	0.57mi	4/2.5 (-1)	2,203 (+2%)	8mo	$400,000	$182	59
543 Chicory Ln	0.44mi	4/2.5 (-1)	2,015 (-7%)	9mo	$395,500	$196	56
549 Marilyn Way	0.36mi	4/2.5 (-1)	2,352 (+9%)	10mo	$489,000	$208	55
208 Sweetbay St	0.23mi	4/2.5 (-1)	2,464 (+14%)	8mo	$472,000	$192	55
3858 Fender St	0.58mi	5/2.5	2,279 (+5%)	13mo	$428,760	$188	53
3631 Brander Dr	0.55mi	4/2.5 (-1)	2,201 (+2%)	16mo	$420,000	$191	53
3857 Fender St	0.54mi	4/2.5 (-1)	2,263 (+4%)	15mo	$404,990	$179	50
263 W 550 N	0.72mi	5/3.0	2,296 (+6%)	5mo	$410,000	$179	50
3760 Fender St	0.58mi	4/2.5 (-1)	2,386 (+10%)	12mo	$403,000	$169	41

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: -19.9%
Equity multiple: 0.31×
Total profit: $-71,181
Equity at exit: $54,617

10-year hold

IRR: -12.8%
Equity multiple: 0.25×
Total profit: $-77,008
Equity at exit: $31,671

Cash invested: $102,566 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 21 active · 8 under contract
Months of supply: 18.0 mo (6%/mo absorbed)
Median asking: $371,207 ($184/sqft)
Median days on market: 40 d
This list price: 29% of active listings are priced below it
ARV vs active asking: +16.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46385

Active inventory: 721
Price-to-rent: 10.1×

Monthly cashflow live

Estimated rent: $3,022 medium interval (Pro) →
Mortgage (P&I): −$1,921
Tax est. 1.5%: −$458 /mo · $5,495/yr
Insurance: −$153
HOA: −$43
Lot rent: −$0
Vacancy / Maint / Mgmt: −$635
Net cashflow: $-187

Break-even live

Break-even rent $3,259

Max offer price $339,280

Occupancy floor —

Sensitivity live

Price	-10% $66	-5% $-60	+0% $-187	+5% $-313	+10% $-440
Rent	-10% $-426	-5% $-306	+0% $-187	+5% $-67	+10% $52
Rate	-1.0pp $-2	-0.5pp $-94	base $-187	+0.5pp $-282	+1.0pp $-378

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: $91,576
Closing costs: $10,989
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3522 Brander Dr Valparaiso, IN	4.0	3.0	2203	$3,100	$1.41	163d	1	0.59mi
2707 Westwind Dr Valparaiso, IN	4.0	2.5	2902	$2,800	$0.96	153d	1	1.43mi

Property features AI

Finance

HOA & community: Homeowners association managed by 1st American ManagementQuarterly association feeAssociation amenities include landscaping and a playgroundAssociation fee covers grounds maintenance

Exterior

Parking: Two-car garage with garage door opener (garage faces front)Driveway
Security: Smoke detectorsCarbon monoxide detectors
Utilities: Electricity connected (200+ amp service, circuit breakers)Public waterPublic sewerNatural gas connectedUnderground utilities
Home design: Two-story homeNew construction (2026)
Construction: Stone and vinyl siding exteriorShingle roofSlab foundationBuilt in 2026
Exterior features: Private yardCovered patioFront porchPatioAbove-ground poolRain guttersNeighborhood viewInsulated windows

Interior

Kitchen: Stainless steel appliancesGas rangeRangeMicrowaveDishwasherDisposalPantryKitchen islandEat-in kitchen
Bedrooms: Primary bedroomFour additional bedrooms (total five bedrooms)Upper-level laundry
Flooring: Carpet
Bathrooms: One full bathroomOne three-quarter bathroomOne half bathroom
Heating & cooling: Forced air heating (natural gas)Central air conditioning
Interior features: Entrance foyerWalk-in closetsStone countersRecessed lightingPantryOpen floor planKitchen islandHigh ceilingsEat-in kitchen
Laundry & utility: Washer hookupGas dryer hookupLaundry roomUpper-level laundryGas water heater

HOA detail $43/mo · $516/yr

Likely covers: waterlandscaping

Listing history 50 events

2026-11-08

days on market $366,306 Active 38 DOM
2026-11-07

days on market $366,306 Active 37 DOM
2026-11-06

days on market $366,306 Active 36 DOM
2026-11-05

days on market $366,306 Active 35 DOM
2026-11-04

days on market $366,306 Active 34 DOM
2026-11-02

days on market $366,306 Active 32 DOM
2026-11-01

days on market $366,306 Active 31 DOM
2026-10-31

days on market $366,306 Active 30 DOM
2026-10-30

days on market $366,306 Active 29 DOM
2026-10-29

days on market $366,306 Active 28 DOM
2026-10-28

days on market $366,306 Active 27 DOM
2026-10-27

days on market $366,306 Active 26 DOM
2026-10-26

days on market $366,306 Active 25 DOM
2026-10-25

days on market $366,306 Active 24 DOM
2026-10-24

days on market $366,306 Active 23 DOM
2026-10-23

days on market $366,306 Active 22 DOM
2026-10-22

days on market $366,306 Active 21 DOM
2026-10-21

days on market $366,306 Active 20 DOM
2026-10-20

days on market $366,306 Active 19 DOM
2026-10-19

days on market $366,306 Active 18 DOM
2026-10-18

days on market $366,306 Active 17 DOM
2026-10-17

days on market $366,306 Active 16 DOM
2026-10-16

days on market $366,306 Active 15 DOM
2026-10-15

days on market $366,306 Active 14 DOM
2026-10-14

days on market $366,306 Active 13 DOM
2026-10-13

days on market $366,306 Active 12 DOM
2026-10-12

days on market $366,306 Active 11 DOM
2026-10-11

days on market $366,306 Active 10 DOM
2026-10-10

days on market $366,306 Active 9 DOM
2026-10-09

days on market $366,306 Active 8 DOM
2026-10-08

days on market $366,306 Active 7 DOM
2026-10-07

days on market $366,306 Active 6 DOM
2026-10-06

days on market $366,306 Active 5 DOM
2026-10-05

days on market $366,306 Active 4 DOM
2026-10-04

days on market $366,306 Active 3 DOM
2026-10-04

days on market $366,306 Active 2 DOM
2026-10-01

days on marketlisting id $366,306 Active 1 DOM
2026-10-01

days on market $366,306 Active 156 DOM
2026-09-30

days on market $366,306 Active 155 DOM
2026-09-29

days on market $366,306 Active 154 DOM
2026-09-28

days on market $366,306 Active 153 DOM
2026-09-27

days on market $366,306 Active 152 DOM
2026-09-26

days on market $366,306 Active 151 DOM
2026-09-25

days on market $366,306 Active 150 DOM
2026-09-24

days on market $366,306 Active 149 DOM
2026-09-23

days on market $366,306 Active 148 DOM
2026-09-22

days on market $366,306 Active 147 DOM
2026-09-21

days on market $366,306 Active 146 DOM
2026-09-20

days on market $366,306 Active 145 DOM
2026-09-19

days on market $366,306 Active 144 DOM

ⓘ 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 2/10 Low 7 d/yr ≥101°F today · 15 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $36,269
− Mortgage interest: −$20,519
− Property taxes: −$5,495
− Insurance: −$1,832
− Repairs & maintenance: −$2,901
− Management: −$2,901
− HOA: −$516
− Depreciation: −$10,656
Taxable loss: −$8,551

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$2,052
After-tax cash flow: $-189/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.

Condition & rehab AI · 2 photos

Good 80/100 Cosmetic rehab Est. rehab $10,830–$32,490 screening

This home is in excellent condition with a good condition score of 80. It is move-in ready with minimal cosmetic improvements needed to enhance its resale and rental value.

Value-add opportunities

Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
Both Landscaping improvements — Enhances curb appeal and adds value ↑
Resale Kitchen appliances upgrade — Modern appliances improve functionality and appeal ↑
Resale Bathroom fixtures upgrade — Updated fixtures enhance bathroom aesthetics and functionality ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 62/100

Zoned Schools

Elementary Cooks Corners Elementary School B- IN #156/994 Nat'l #8,158/41,679 Middle Benjamin Franklin Middle School B IN #21/330 Nat'l #2,208/14,009 High Valparaiso High School B IN #19/369 Nat'l #2,354/17,239

Schools (NCES district)

District: Valparaiso Community Schools
NCES district ID: 1811970
Math proficiency: 56% ▼ -9.00%
Reading proficiency: 64% ▼ -6.00%
Median HH income: $56,736
Composite: 51.69/100
National rank: #1691
State rank: #18 of 301 in IN

A Composite livability gradescore 82/100

Livability — Valparaiso

Score: 82/100
State rank: #12
US rank: #1149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

County: Porter County · 177,804 people
City population: 83,039
Metro: Chicago-Naperville-Elgin, IL-IN-WI
Population (ZIP): 40,856
Household income: $98,957
Rent vs Own: 13.4% rent · 86.6% own
Severe rent burden: 9% of renters

Population outlook (Porter County) Hauer SSP2

Today (2025): 177,804 people
By 2030: 181,552 · +2.1%
By 2040: 185,830 · +4.5%
By 2050: 187,498 · +5.5%
By 2075: 189,585 · +6.6%
By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

Neighborhood character: Predominantly White (83%)
Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 7% Black 2% Asian 2%
Hispanic origin (detail): Mexican 6% Puerto Rican 2%
Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Porter

2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

Civics: —

Market trends

HPI YoY: ▼ -151.11%
Current HPI: 201.7039
Rent YoY: —
Metro: Chicago-Naperville-Elgin, IL-IN-WI
State GDP YoY: ▲ 2.90%
F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
Industrial Machinery	2	$37B
#125 Cummins Columbus $33.4B #416 Allegion Dublin $3.6B
Healthcare	1	$177B
#20 Elevance Health Indianapolis $177.0B
Pharmaceuticals	1	$45B
#100 Eli Lilly Indianapolis $45.0B
Metals / Steel	1	$18B
#179 Steel Dynamics Fort Wayne $18.2B
Agriculture	1	$17B
#210 Corteva Agriscience Indianapolis $16.5B
Packaging	1	$12B
#474 Berry Global Group Evansville $12.3B

Price history

+3.0% since first listed

5 events — show timeline

2026-10-01 Listed $366,306 NIRA MLS as Distributed by MLS Grid
2026-09-10 Price Changed $366,306 Zillow
2026-09-02 Price Changed $359,706 Zillow
2026-05-19 Price Changed $359,682 Zillow
2026-04-29 Listed $355,682 Zillow

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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