55 Gill Dr · Danville, IN 46122

$264,900

3 bd · 2.0 ba · 2,640 sqft · SingleFamily public records · 4 Days on market

Built 1954 0.41 ac lot $100/sqft · 45% below area Est $299k · 11% under

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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).

• ARV discount +12.6/15.0
• Cash flow +10.3/30.0
• Schools +4.8/10.0
• Livability +3.2/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This lovely home awaits its next chapter at 55 Gill Dr. Danville, a charming single-family residence hinting at decades of cherished memories and promising a truly joyful future. Enjoy the original built in features, hardwood floors, updated kitchen & lots of natural lighting. This generous expanse provides ample space for creating distinct zones for relaxation, celebration, or quiet contemplation, allowing your imagination to truly run wild within its expansive embrace. The three cozy bedrooms provide peaceful sanctuaries for recharging at the end of the day. A single newly remodeled full bathroom stands ready to refresh and rejuvenate. Beyond the walls, a lovely outdoor retreat beckons, inviting grand garden projects, spirited outdoor games, or simply basking in the sunshine with ample room to roam. This charming dwelling, established in 1954, has no HOA and is ready to embrace its unfolding story of joyful living. Danville is a golf cart approved community, and the home is just minutes from community activities, parks, dining & shopping on the Danville square & surrounding areas. This wonderful single-family residence promises a delightful backdrop for a life filled with cheerful moments and boundless possibilities. Updates 2024-A/C, roof, Water heater, water softener, all appliances, leaf gutter guards, bath remodel, exterior paint, utility room, & landscaping

Key facts

• Natural lighting
• Updated kitchen
• Outdoor retreat

Tags

• ORIGINAL BUILT IN FEATURES
• HARDWOOD FLOORS
• UPDATED KITCHEN
• NATURAL LIGHTING
• NEWLY REMODELED FULL BATHROOM
• OUTDOOR RETREAT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-144 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (26.6% below list).
• Recommended offer: $194k (26.6% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.1% in Danville — 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 65/100 on livability (#325 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Danville Community School Corporation (suburban): math 52% / reading 57% proficiency, ranked #27 of 301 in IN (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 196 active listings in the ZIP; solid renter incomes; 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 15y 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.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $194,459 (26.6% 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. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.73% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• GRM: 11.4

CMA / ARV

• ARV (median comp): $298,740
• List price: $264,900
• Delta: -11.33%
• 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
424 N Washington St	0.42mi	3/2.5	2,520 (-4%)	2mo	$335,500	$133	69
29 Northview Dr	0.26mi	4/3.0 (+1)	2,760 (+4%)	10mo	$304,900	$110	63
402 W Clinton St	0.28mi	2/1.0 (-1)	2,832 (+7%)	11mo	$234,900	$83	56
405 N Indiana St	0.51mi	3/2.0	2,399 (-9%)	9mo	$330,000	$138	54
245 S Washington St	0.66mi	4/2.5 (+1)	2,622 (-1%)	11mo	$334,000	$127	52
320 Sam Himsel Way	0.39mi	4/3.0 (+1)	2,278 (-14%)	2mo	$401,077	$176	48
238 Millie Miles St	0.60mi	4/2.5 (+1)	2,346 (-11%)	0mo	$390,400	$166	46
216 Millie Miles St	0.60mi	4/2.5 (+1)	2,346 (-11%)	0mo	$374,900	$160	46
102 Velvet Hat Rd	0.58mi	4/2.5 (+1)	2,346 (-11%)	3mo	$382,000	$163	45
353 S Indiana St	0.75mi	3/2.0	2,883 (+9%)	10mo	$350,000	$121	41
114 Velvet Hat Rd	0.58mi	4/2.5 (+1)	2,356 (-11%)	9mo	$396,900	$168	40
171 Velvet Hat Rd	0.64mi	4/2.5 (+1)	2,346 (-11%)	9mo	$424,635	$181	37

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: -20.2%
• Equity multiple: 0.30×
• Total profit: $-52,155
• Equity at exit: $39,497

10-year hold

• IRR: -13.3%
• Equity multiple: 0.23×
• Total profit: $-57,475
• Equity at exit: $22,904

Cash invested: $74,172 (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 46122

• Home prices YoY: -32.1%
• Active inventory: 196
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,945 medium
• Mortgage (P&I): −$1,389
• Tax from tax record: −$181 /mo · $2,167/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $-144

Break-even live

Break-even rent $2,127

Max offer price $239,476

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-09
   status Pending 1407-char remark

   Show marketing remark (1407 chars)

   This lovely home awaits its next chapter at 55 Gill Dr. Danville, a charming single-family residence hinting at decades of cherished memories and promising a truly joyful future. Enjoy the original built in features, hardwood floors, updated kitchen & lots of natural lighting. This generous expanse provides ample space for creating distinct zones for relaxation, celebration, or quiet contemplation, allowing your imagination to truly run wild within its expansive embrace. The three cozy bedrooms provide peaceful sanctuaries for recharging at the end of the day. A single newly remodeled full bathroom stands ready to refresh and rejuvenate. Beyond the walls, a lovely outdoor retreat beckons, inviting grand garden projects, spirited outdoor games, or simply basking in the sunshine with ample room to roam. This charming dwelling, established in 1954, has no HOA and is ready to embrace its unfolding story of joyful living. Danville is a golf cart approved community, and the home is just minutes from community activities, parks, dining & shopping on the Danville square & surrounding areas. This wonderful single-family residence promises a delightful backdrop for a life filled with cheerful moments and boundless possibilities. Updates 2024-A/C, roof, Water heater, water softener, all appliances, leaf gutter guards, bath remodel, exterior paint, utility room, & landscaping

2. 2026-05-07
   status Active 1407-char remark

   Show marketing remark (1407 chars)

   This lovely home awaits its next chapter at 55 Gill Dr. Danville, a charming single-family residence hinting at decades of cherished memories and promising a truly joyful future. Enjoy the original built in features, hardwood floors, updated kitchen & lots of natural lighting. This generous expanse provides ample space for creating distinct zones for relaxation, celebration, or quiet contemplation, allowing your imagination to truly run wild within its expansive embrace. The three cozy bedrooms provide peaceful sanctuaries for recharging at the end of the day. A single newly remodeled full bathroom stands ready to refresh and rejuvenate. Beyond the walls, a lovely outdoor retreat beckons, inviting grand garden projects, spirited outdoor games, or simply basking in the sunshine with ample room to roam. This charming dwelling, established in 1954, has no HOA and is ready to embrace its unfolding story of joyful living. Danville is a golf cart approved community, and the home is just minutes from community activities, parks, dining & shopping on the Danville square & surrounding areas. This wonderful single-family residence promises a delightful backdrop for a life filled with cheerful moments and boundless possibilities. Updates 2024-A/C, roof, Water heater, water softener, all appliances, leaf gutter guards, bath remodel, exterior paint, utility room, & landscaping

3. 2026-04-15
   status Pending 1407-char remark

   Show marketing remark (1407 chars)

   This lovely home awaits its next chapter at 55 Gill Dr. Danville, a charming single-family residence hinting at decades of cherished memories and promising a truly joyful future. Enjoy the original built in features, hardwood floors, updated kitchen & lots of natural lighting. This generous expanse provides ample space for creating distinct zones for relaxation, celebration, or quiet contemplation, allowing your imagination to truly run wild within its expansive embrace. The three cozy bedrooms provide peaceful sanctuaries for recharging at the end of the day. A single newly remodeled full bathroom stands ready to refresh and rejuvenate. Beyond the walls, a lovely outdoor retreat beckons, inviting grand garden projects, spirited outdoor games, or simply basking in the sunshine with ample room to roam. This charming dwelling, established in 1954, has no HOA and is ready to embrace its unfolding story of joyful living. Danville is a golf cart approved community, and the home is just minutes from community activities, parks, dining & shopping on the Danville square & surrounding areas. This wonderful single-family residence promises a delightful backdrop for a life filled with cheerful moments and boundless possibilities. Updates 2024-A/C, roof, Water heater, water softener, all appliances, leaf gutter guards, bath remodel, exterior paint, utility room, & landscaping

4. 2026-04-12
   listed $264,900 Active 1407-char remark

   Show marketing remark (1407 chars)

   This lovely home awaits its next chapter at 55 Gill Dr. Danville, a charming single-family residence hinting at decades of cherished memories and promising a truly joyful future. Enjoy the original built in features, hardwood floors, updated kitchen & lots of natural lighting. This generous expanse provides ample space for creating distinct zones for relaxation, celebration, or quiet contemplation, allowing your imagination to truly run wild within its expansive embrace. The three cozy bedrooms provide peaceful sanctuaries for recharging at the end of the day. A single newly remodeled full bathroom stands ready to refresh and rejuvenate. Beyond the walls, a lovely outdoor retreat beckons, inviting grand garden projects, spirited outdoor games, or simply basking in the sunshine with ample room to roam. This charming dwelling, established in 1954, has no HOA and is ready to embrace its unfolding story of joyful living. Danville is a golf cart approved community, and the home is just minutes from community activities, parks, dining & shopping on the Danville square & surrounding areas. This wonderful single-family residence promises a delightful backdrop for a life filled with cheerful moments and boundless possibilities. Updates 2024-A/C, roof, Water heater, water softener, all appliances, leaf gutter guards, bath remodel, exterior paint, utility room, & landscaping

5. 2024-01-22
   soldstatus $233,000 Closed 602-char remark

   Show marketing remark (602 chars)

   Move in ready! Comfy, cozy, quaint 3 bdrm/ 1 bath all brick home in the heart of Danville. First floor has a large liviroom w/ fireplace, dining room & eat in kitchen. 2 bdrms on the main level w/ hardwood floors. Nice size laundry room w/ cabinets for extra storage. 3rd bdrm upstairs w/ lrg closet. The closet can be converted into a bathroom, as plumbing has already been installed in that space. Lrg storage rm upstairs. Nice wood deck off the kitchen, 2 car detached garage/ workbench & storage. Lrg yard, mature trees & storage barn. Driveway is shared w/ the neighbors. Welcome Home!

6. 2023-11-24
   status Pending 602-char remark

   Show marketing remark (602 chars)

   Move in ready! Comfy, cozy, quaint 3 bdrm/ 1 bath all brick home in the heart of Danville. First floor has a large liviroom w/ fireplace, dining room & eat in kitchen. 2 bdrms on the main level w/ hardwood floors. Nice size laundry room w/ cabinets for extra storage. 3rd bdrm upstairs w/ lrg closet. The closet can be converted into a bathroom, as plumbing has already been installed in that space. Lrg storage rm upstairs. Nice wood deck off the kitchen, 2 car detached garage/ workbench & storage. Lrg yard, mature trees & storage barn. Driveway is shared w/ the neighbors. Welcome Home!

7. 2023-10-27
   listed $249,900 Active 602-char remark

   Show marketing remark (602 chars)

   Move in ready! Comfy, cozy, quaint 3 bdrm/ 1 bath all brick home in the heart of Danville. First floor has a large liviroom w/ fireplace, dining room & eat in kitchen. 2 bdrms on the main level w/ hardwood floors. Nice size laundry room w/ cabinets for extra storage. 3rd bdrm upstairs w/ lrg closet. The closet can be converted into a bathroom, as plumbing has already been installed in that space. Lrg storage rm upstairs. Nice wood deck off the kitchen, 2 car detached garage/ workbench & storage. Lrg yard, mature trees & storage barn. Driveway is shared w/ the neighbors. Welcome Home!

8. 2019-07-17
   soldstatus $150,000 Sold
9. 2019-06-15
   status Pending
10. 2019-05-11
    status Pending
11. 2019-05-11
    historical
12. 2019-05-07
    status Active
13. 2019-04-13
    status Pending
14. 2019-04-13
    historical
15. 2019-04-12
    listed $158,900 Active
16. 2011-08-07
    historical
17. 2011-05-06
    listed $134,900

ⓘ 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: $2,167 · $181/mo
• Projected year-2 tax: $2,209 · $184/mo
• Expected delta: +$42/yr (+$4/mo · 1.9%)

ⓘ 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 ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,335
• − Mortgage interest: −$14,839
• − Property taxes: −$2,167
• − Insurance: −$1,324
• − Repairs & maintenance: −$1,867
• − Management: −$1,867
• − Depreciation: −$7,706
• Taxable loss: −$6,435
• Est. tax savings @ 24.0%: +$1,544
• After-tax cash flow: $-183/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: Danville Community School Corporation
• NCES district ID: 1802550
• Math proficiency: 52% ▼ -10.00%
• Reading proficiency: 57% ▼ -6.00%
• Median HH income: $64,913
• Composite: 47.93/100
• National rank: #2208
• State rank: #27 of 301 in IN

Livability — Danville

• Score: 65/100
• State rank: #325
• US rank: #12689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danville, IN
• County: Hendricks County · 143,373 people
• City population: 16,974
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 16,974
• Household income: $99,531
• Rent vs Own: 20.7% rent · 79.3% own
• Severe rent burden: 234.0

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 2% Black 2% Two or more races 2%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -105.58%
• Current HPI: 222.8401
• 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

+96.4% since first listed

17 events — show timeline

• 2026-05-09 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-07 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-15 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-12 Listed $264,900 MIBOR as Distributed by MLS Grid
• 2024-01-22 Sold (MLS) $233,000 MIBOR as Distributed by MLS Grid
• 2023-11-24 Pending — MIBOR as Distributed by MLS Grid
• 2023-10-27 Listed $249,900 MIBOR as Distributed by MLS Grid
• 2019-07-17 Sold (MLS) $150,000 MIBOR as Distributed by MLS Grid
• 2019-06-15 Pending — MIBOR as Distributed by MLS Grid
• 2019-05-11 Pending — MIBOR as Distributed by MLS Grid
• 2019-05-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2019-05-07 Relisted — MIBOR as Distributed by MLS Grid
• 2019-04-13 Pending — MIBOR as Distributed by MLS Grid
• 2019-04-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2019-04-12 Listed $158,900 MIBOR as Distributed by MLS Grid
• 2011-08-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-05-06 Listed $134,900 MIBOR as Distributed by MLS Grid

Property tax history

+0.9%/yr

Latest (2025): $2,167 · +28.7% YoY. Source: county tax records.