3564 Thomas Jefferson St · Westfield, IN 46074

$275,000

3 bd · 1.5 ba · 1,220 sqft · Condo public records · 4 Days on market

Built 2021 $154/mo HOA · 7% 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 +10.3/30.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3564 Thomas Jefferson ST is located in Lindley Run in Westfield, IN. Discover this well maintained condominium built in 2021, offering 1220 square feet of meticulously designed living space. The two-story residence presents a contemporary lifestyle opportunity, blending comfort with modern convenience in a sought-after location. The property features two well-proportioned bedrooms, providing comfortable private retreats. Complementing these are one full bathroom and one half bathroom, thoughtfully appointed for daily routines and guest convenience. The home offers a manageable outdoor footprint, allowing for ease of maintenance while still providing a sense of personal space. The large grea

Key facts

• Clubhouse
• Pool
• Large great room

Tags

• WELL MAINTAINED CONDOMINIUM
• MANAGEABLE OUTDOOR FOOTPRINT
• LARGE GREAT ROOM
• ABUNDANCE OF CABINETS
• CLUBHOUSE
• POOL

Property features AI

Finance

• Other: Property on approximately 0.05 acre
• HOA & community: HOA with monthly fee; Monthly association fee includes clubhouse, exercise room, insurance, irrigation, lawn care, grounds and structure maintenance, park/playground, management, snow removal, walking trails and other common amenities; Community amenities: clubhouse, playground, pool; Covenants & restrictions apply; 2+ common walls in the community

Exterior

• Parking: Attached 2-car garage; Finished garage with garage door opener, keyless entry, and service door
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connected; 200+ amp electric service; Cable available; Electricity connected; Natural gas connected; Sewer connected; Water connected; Solid waste service available
• Home design: Residential condominium (horizontal condo); Two levels; Attached property; Building with private entry at ground level; Low-maintenance lifestyle
• Construction: Cement siding and stone exterior; Slab foundation; Built by OLTHOF
• Exterior features: Covered patio; Patio; Sprinkler system; Full privacy fence; Street lights and sidewalks; Curbs and storm sewer; Small trees; Suburban setting

Interior

• Kitchen: Dishwasher; Disposal; Gas oven; Microhood; Refrigerator; Water purifier
• Bedrooms: Two upper-level bedrooms; Primary bedroom with walk-in closet
• Flooring: Hardwood floors
• Bathrooms: One full bathroom (upper) with tub and shower; One half bathroom (main)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Breakfast bar; Hardwood floors; Walk-in closet(s); Living room is formal; Updated/remodeled condition; Smoke detector(s)
• Laundry & utility: In-unit laundry in an upper-level laundry closet; Washer; Dryer; ENERGY STAR qualified water heater; Gas water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (19.1% below list).
• Recommended offer: $222k (19.1% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.0% in Westfield — 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 71/100 on livability (#140 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Westfield-Washington Schools (suburban): math 58% / reading 64% proficiency, ranked #10 of 301 in IN (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Washington Woods Elementary School (math 65% / reading 55%, grade B-, #126 of 994 statewide, top 13%, 621 students, 25% FRL); Westfield Middle School (math 46% / reading 62%, grade B-, #31 of 330 statewide, top 9%, 1,429 students, 18% FRL); Westfield High School (math 61% / reading 85%, grade B+, #8 of 369 statewide, top 2%, 2,665 students, 18% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 809 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,661 units permitted in Hamilton County in 2024 (1,528 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.
• Hamilton County population projected at +44% 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.

Recommended offer $222,383 (19.1% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 5.63%
• Cash-on-cash: -2.38%
• DSCR: 0.89
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.26% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.33×
• Total profit: $-51,401
• Equity at exit: $41,003

10-year hold

• IRR: -9.0%
• Equity multiple: 0.41×
• Total profit: $-45,114
• Equity at exit: $23,777

Cash invested: $77,000 (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 46074

• Rents YoY: 4.3%
• Active inventory: 809
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,224 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$199 /mo · $2,387/yr
• Insurance: −$115
• HOA: −$154
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $-153

Break-even live

Break-even rent $2,417

Max offer price $248,004

Occupancy floor —

Sensitivity live

Price	-10% $3	-5% $-75	+0% $-153	+5% $-231	+10% $-308
Rent	-10% $-329	-5% $-241	+0% $-153	+5% $-65	+10% $23
Rate	-1.0pp $-14	-0.5pp $-83	base $-153	+0.5pp $-224	+1.0pp $-297

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4001 Myra Way Westfield, IN	2.0	2.0	1294	$2,066	$1.60	0d	5	1.03mi
19530 Chad Hittle Dr Westfield, IN	1.0–3.0	1.0–2.0	1009	$2,450	$2.43	0d	27	1.40mi
1911 Maple Park Dr Westfield, IN	3.0	2.0	1278	$2,399	$1.88	14d	1	1.40mi
140 Maple Park Dr #3 Westfield, IN	2.0	1.0	725	$1,049	$1.45	9d	1	1.44mi

HOA detail condo

• Monthly dues: $154 · $1,848/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-21
   days on market $275,000 Active 4 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $275,000 Active 1 DOM

ⓘ 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: $2,387 · $199/mo
• Projected year-2 tax: $2,387 · $199/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,686
• − Mortgage interest: −$15,404
• − Property taxes: −$2,387
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,135
• − Management: −$2,135
• − HOA: −$1,848
• − Depreciation: −$8,000
• Taxable loss: −$6,598
• Est. tax savings @ 24.0%: +$1,584
• After-tax cash flow: $-250/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: Westfield-Washington Schools
• NCES district ID: 1813080
• Math proficiency: 58% ▼ -9.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $82,682
• Composite: 55.01/100
• National rank: #1295
• State rank: #10 of 301 in IN

Livability — Westfield

• Score: 71/100
• State rank: #140
• US rank: #7263

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westfield, IN
• County: Hamilton County · 337,479 people
• City population: 48,901
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 48,901
• Household income: $126,724
• Rent vs Own: 18.4% rent · 81.6% own
• Severe rent burden: 742.0

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 381,938 people
• By 2030: 417,496 · +9.3%
• By 2040: 486,684 · +27.4%
• By 2050: 549,805 · +44.0%
• By 2075: 687,078 · +79.9%
• By 2100: 754,495 · +97.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 10% Hispanic / Latino 9% Asian 8% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 4% Italian 4% Lithuanian 2%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 5% Arabic 3% Chinese 2%

Political lean MEDSL · Hamilton

• 2024 margin: Lean R (+6.1) · D 46.0% · R 52.1% · Other 1.9%
• 2008→2024 swing: +16.2pp toward D · 2008: -22.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+6.8 2016: R+19.6 2012: R+34.3 2008: R+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -140.45%
• Current HPI: 220.9413
• Rent YoY: ▲ 4.26%
• 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

1 event — show timeline

• 2026-06-17 Listed $275,000 MIBOR as Distributed by MLS Grid

Property tax history

+187.4%/yr

Latest (2025): $2,387 · -6.4% YoY. Source: county tax records.