655 Barrett St · Danville, IN 46122

$190,000

3 bd · 1.0 ba · 1,104 sqft · SingleFamily public records · 56 Days on market

Built 1950 8,514 sqft lot $172/sqft · 29% above area Est $244k · 22% under

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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 +18.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• Schools +4.8/10.0
• 1% rule +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained ranch with basement in Danville. 3 Bedrooms and 1 bath on the main level with two finished bonus rooms in basement, one is currently being used as a master bedroom. Comfortable living room with original hardwood floors. Large Dining room, Kitchen with breakfast bar. Deck off the kitchen overlooks the backyard with mature trees and a storage barn. Lots of space for the money! Immediate possession.

Key facts

• Finished basement
• Nearby ellis park
• 8,514 sq ft lot

Tags

• FINISHED BASEMENT
• FULLY FENCED BACKYARD
• MINUTES FROM DOWNTOWN DANVILLE
• NEARBY ELLIS PARK

Property features AI

Exterior

• Parking: No designated parking listed
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer; Cable available; Natural gas available
• Home design: Single-family residence; One level; North-facing
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered patio/porch; Privacy fence; Yard on approximately 0.2 acre

Interior

• Kitchen: Dishwasher; Disposal; Electric oven
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Baseboard heating (electric); Window air conditioning units
• Interior features: Hardwood floors; Partial finished basement
• Laundry & utility: Laundry in basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/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 $173k (9.2% below list).
• Recommended offer: $173k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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.
• Zoned schools: North Elementary School (650 students, 38% FRL); Danville Community High School (math 42% / reading 67%, grade C-, #79 of 369 statewide, top 26%, 788 students, 27% FRL).
• Market conditions: 196 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k 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 56 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $30k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $112k; list at $190k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,584 (9.2% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.78%
• DSCR: 1.17
• GRM: 9.2

CMA / ARV

• ARV (median comp): $244,212
• List price: $190,000
• Delta: -22.20%
• 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
98 Bosstick Ave	0.05mi	2/1.0 (-1)	962 (-13%)	6mo	$190,000	$198	66
5 Fairlane East Ct	0.18mi	3/1.0	992 (-10%)	12mo	$215,000	$217	64
724 Sunset Dr	0.19mi	3/1.5	1,032 (-6%)	16mo	$214,900	$208	64
840 S Kentucky St	0.52mi	3/1.0	1,160 (+5%)	7mo	$235,000	$203	62
332 W Lincoln St	0.43mi	3/2.0	1,134 (+3%)	16mo	$240,000	$212	58
953 W Clinton St	0.20mi	2/1.0 (-1)	960 (-13%)	11mo	$220,000	$229	55
1217 Meadowood Dr	0.39mi	3/1.5	1,217 (+10%)	14mo	$255,000	$210	51
28 Martin Dr	0.16mi	2/1.0 (-1)	960 (-13%)	18mo	$185,000	$193	51
774 Courtney Cir	0.30mi	3/2.0	1,268 (+15%)	11mo	$286,000	$226	48
220 W Lincoln St W	0.49mi	3/1.0	1,197 (+8%)	18mo	$218,345	$182	48
401 Paddlebrook Dr	0.66mi	3/2.0	1,168 (+6%)	13mo	$246,500	$211	45
499 N Indiana St	0.73mi	2/1.0 (-1)	960 (-13%)	17mo	$182,500	$190	25

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: -10.4%
• Equity multiple: 0.62×
• Total profit: $-20,168
• Equity at exit: $28,330

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-4,015
• Equity at exit: $16,428

Cash invested: $53,200 (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: 9.2×

Monthly cashflow live

• Estimated rent: $1,726 high
• Mortgage (P&I): −$996
• Tax from tax record: −$120 /mo · $1,445/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $167

Break-even live

Break-even rent $1,514

Max offer price $190,000

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
547 W Main St Danville, IN	2.0	1.0	970	$1,225	$1.26	2d	1	0.18mi
542 W Main St Danville, IN	2.0	2.5	1400	$1,555	$1.11	2d	1	0.19mi
415 S Kentucky St Danville, IN	2.0	1.5	1000	$1,525	$1.52	10d	1	0.35mi
878 W Lincoln St Danville, IN	3.0	1.5	1075	$1,483	$1.38	2d	1	0.39mi
1195 W Lincoln St Danville, IN	2.0	1.0	813	$1,125	$1.38	2d	2	0.49mi
145 S Indiana St Unit D Danville, IN	2.0	1.0	864	$1,250	$1.45	15d	1	0.56mi
430 E Main St Danville, IN	3.0	1.0	1440	$1,650	$1.15	7d	1	0.80mi

Listing history 25 events

1. 2026-06-18
   days on market $190,000 Active 56 DOM
2. 2026-06-17
   days on market $190,000 Active 55 DOM
3. 2026-06-16
   days on market $190,000 Active 54 DOM
4. 2026-06-15
   days on market $190,000 Active 53 DOM
5. 2026-06-13
   days on market $190,000 Active 51 DOM
6. 2026-06-13
   days on market $190,000 Active 50 DOM
7. 2026-06-09
   days on market $190,000 Active 47 DOM
8. 2026-06-08
   days on market $190,000 Active 46 DOM
9. 2026-06-07
   days on market $190,000 Active 45 DOM
10. 2026-06-03
    days on market $190,000 Active 41 DOM
11. 2026-06-02
    days on market $190,000 Active 40 DOM
12. 2026-06-01
    days on market $190,000 Active 39 DOM
13. 2026-05-31
    days on market $190,000 Active 38 DOM
14. 2026-05-18
    price $195,000 1191-char remark
15. 2026-05-05
    price $200,000 1191-char remark
16. 2026-04-29
    price $210,000 1191-char remark
17. 2026-04-23
    listed $220,000 Active 1191-char remark
18. 2018-11-16
    soldstatus $112,500 Sold 420-char remark

    Show marketing remark (420 chars)

    Well maintained ranch with basement in Danville. 3 Bedrooms and 1 bath on the main level with two finished bonus rooms in basement, one is currently being used as a master bedroom. Comfortable living room with original hardwood floors. Large Dining room, Kitchen with breakfast bar. Deck off the kitchen overlooks the backyard with mature trees and a storage barn. Lots of space for the money! Immediate possession.

19. 2018-10-17
    status Pending 420-char remark

    Show marketing remark (420 chars)

    Well maintained ranch with basement in Danville. 3 Bedrooms and 1 bath on the main level with two finished bonus rooms in basement, one is currently being used as a master bedroom. Comfortable living room with original hardwood floors. Large Dining room, Kitchen with breakfast bar. Deck off the kitchen overlooks the backyard with mature trees and a storage barn. Lots of space for the money! Immediate possession.

20. 2018-10-12
    price $112,500 420-char remark

    Show marketing remark (420 chars)

    Well maintained ranch with basement in Danville. 3 Bedrooms and 1 bath on the main level with two finished bonus rooms in basement, one is currently being used as a master bedroom. Comfortable living room with original hardwood floors. Large Dining room, Kitchen with breakfast bar. Deck off the kitchen overlooks the backyard with mature trees and a storage barn. Lots of space for the money! Immediate possession.

21. 2018-10-12
    price $112,900 420-char remark

    Show marketing remark (420 chars)

    Well maintained ranch with basement in Danville. 3 Bedrooms and 1 bath on the main level with two finished bonus rooms in basement, one is currently being used as a master bedroom. Comfortable living room with original hardwood floors. Large Dining room, Kitchen with breakfast bar. Deck off the kitchen overlooks the backyard with mature trees and a storage barn. Lots of space for the money! Immediate possession.

22. 2018-10-06
    price $113,900 420-char remark

    Show marketing remark (420 chars)

    Well maintained ranch with basement in Danville. 3 Bedrooms and 1 bath on the main level with two finished bonus rooms in basement, one is currently being used as a master bedroom. Comfortable living room with original hardwood floors. Large Dining room, Kitchen with breakfast bar. Deck off the kitchen overlooks the backyard with mature trees and a storage barn. Lots of space for the money! Immediate possession.

23. 2018-09-14
    status Active 420-char remark

    Show marketing remark (420 chars)

    Well maintained ranch with basement in Danville. 3 Bedrooms and 1 bath on the main level with two finished bonus rooms in basement, one is currently being used as a master bedroom. Comfortable living room with original hardwood floors. Large Dining room, Kitchen with breakfast bar. Deck off the kitchen overlooks the backyard with mature trees and a storage barn. Lots of space for the money! Immediate possession.

24. 2018-08-15
    status Pending 420-char remark

    Show marketing remark (420 chars)

    Well maintained ranch with basement in Danville. 3 Bedrooms and 1 bath on the main level with two finished bonus rooms in basement, one is currently being used as a master bedroom. Comfortable living room with original hardwood floors. Large Dining room, Kitchen with breakfast bar. Deck off the kitchen overlooks the backyard with mature trees and a storage barn. Lots of space for the money! Immediate possession.

25. 2018-08-14
    listed $114,900 Active 420-char remark

    Show marketing remark (420 chars)

    Well maintained ranch with basement in Danville. 3 Bedrooms and 1 bath on the main level with two finished bonus rooms in basement, one is currently being used as a master bedroom. Comfortable living room with original hardwood floors. Large Dining room, Kitchen with breakfast bar. Deck off the kitchen overlooks the backyard with mature trees and a storage barn. Lots of space for the money! Immediate possession.

ⓘ 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: $1,445 · $120/mo
• Projected year-2 tax: $1,530 · $127/mo
• Expected delta: +$85/yr (+$7/mo · 5.9%)

ⓘ 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: $20,710
• − Mortgage interest: −$10,643
• − Property taxes: −$1,445
• − Insurance: −$950
• − Repairs & maintenance: −$1,657
• − Management: −$1,657
• − Depreciation: −$5,527
• Taxable loss: −$1,169
• Est. tax savings @ 24.0%: +$280
• After-tax cash flow: $2,290/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

+65.4% since first listed

13 events — show timeline

• 2026-05-26 Price Changed $190,000 MIBOR as Distributed by MLS Grid
• 2026-05-18 Price Changed $195,000 MIBOR as Distributed by MLS Grid
• 2026-05-05 Price Changed $200,000 MIBOR as Distributed by MLS Grid
• 2026-04-29 Price Changed $210,000 MIBOR as Distributed by MLS Grid
• 2026-04-23 Listed $220,000 MIBOR as Distributed by MLS Grid
• 2018-11-16 Sold (MLS) $112,500 MIBOR as Distributed by MLS Grid
• 2018-10-17 Pending — MIBOR as Distributed by MLS Grid
• 2018-10-12 Price Changed $112,500 MIBOR as Distributed by MLS Grid
• 2018-10-12 Price Changed $112,900 MIBOR as Distributed by MLS Grid
• 2018-10-06 Price Changed $113,900 MIBOR as Distributed by MLS Grid
• 2018-09-14 Relisted — MIBOR as Distributed by MLS Grid
• 2018-08-15 Pending — MIBOR as Distributed by MLS Grid
• 2018-08-14 Listed $114,900 MIBOR as Distributed by MLS Grid

Property tax history

+10.4%/yr

Latest (2025): $1,445 · +38.3% YoY. Source: county tax records.