6660 W Denton Dr · McCordsville, IN 46055

$229,900

3 bd · 2.0 ba · 1,228 sqft · SingleFamily public records · 5 Days on market

Built 2003 7,579 sqft lot Est $275k · 16% under $30/mo HOA · 1% of rent

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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 +22.9/30.0
• ARV discount +14.9/15.0
• DSCR +7.3/10.0
• 1% rule +5.4/10.0
• Schools +4.1/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD HOME SOLD IN AS-IS CONDITION. FOR MORE INFORMATION REGARDING HUD FORMS, EARNEST MONEY, PROCEDURES, REGISTERING AND BIDDING SEE WEBSITE BELOW. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. NO SHOWING APPT. NECESSARY - USE HUD KEY. CASE NUMBER 151-712658. 203K ELIGIBLE. INSURED STATUS: IN. RELIST 2-8-08.

Key facts

• Open floor plan
• Private fenced patio
• Landscaped yard

Tags

• OPEN FLOOR PLAN
• VAULTED CEILINGS
• LANDSCAPED YARD
• PRIVATE FENCED PATIO
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Property listed as residential single-family in a planned unit development
• HOA & community: Homeowners association with an annual fee of $260 (fee covers association homeowners)

Exterior

• Parking: Attached garage; Two-car garage (approximately 408 sq ft)
• Utilities: Public water; Municipal sewer connected; 200+ amp electric service; Cable available; Electricity connected; Water connected; Sewer connected
• Home design: Single-family residence; One story; Planned unit development; South-facing
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Lot under 1/4 acre (approximately 0.17 acre)

Interior

• Kitchen: Electric cooktop; Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: Three bedrooms on the main level; Primary bedroom with walk-in closet
• Bathrooms: Two full bathrooms (main level)
• Heating & cooling: Forced air heating; Heat pump; Electric heating; Central air conditioning
• Interior features: Eat-in kitchen; Main-level living areas
• Laundry & utility: Main-level laundry room; Washer included; Dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Cap rate 8.4% vs local median 3.9% in McCordsville — 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 69/100 on livability (#181 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.
• Mt Vernon Community School Corporation (rural): math 43% / reading 48% proficiency, ranked #70 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.2%/yr); 422 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,091 units permitted in Hancock County in 2024 (0 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 $7k of value loss. Plan a longer hold.
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $64k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 23y 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.
• Current owner paid $85k; list at $230k implies a 170% gain — meaningful room to come down on a strong offer.

Recommended offer $229,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.52%
• DSCR: 1.33
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $275,072
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6884 N Laredo Dr	0.10mi	3/2.0	1,272 (+4%)	3mo	$283,900	$223	87
6815 W Odessa Way	0.25mi	3/2.0	1,249 (+2%)	0mo	$205,000	$164	85
6899 N Karnes Dr	0.26mi	3/2.0	1,245 (+1%)	8mo	$270,000	$217	79
6605 W Odessa Way	0.18mi	3/2.0	1,370 (+12%)	1mo	$259,700	$190	72
7410 Broadview Ln	0.62mi	2/2.0 (-1)	1,227 (-0%)	3mo	$285,000	$232	63
6847 W Odessa Way	0.29mi	3/2.0	1,358 (+11%)	7mo	$265,000	$195	63
7346 Broadview Ln	0.58mi	2/2.0 (-1)	1,227 (-0%)	6mo	$275,000	$224	62
6963 N Abilene Way	0.13mi	3/2.0	1,390 (+13%)	12mo	$265,000	$191	62
7338 Broadview Ln	0.60mi	2/2.0 (-1)	1,227 (-0%)	8mo	$285,495	$233	61
7370 Broadview Ln	0.60mi	2/2.0 (-1)	1,227 (-0%)	9mo	$282,990	$231	59
7402 Broadview Ln	0.62mi	2/2.0 (-1)	1,227 (-0%)	9mo	$280,000	$228	59
7421 Broadview Ln	0.65mi	2/2.0 (-1)	1,239 (+1%)	8mo	$283,000	$228	56

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 · 5.18% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.90×
• Total profit: $-6,220
• Equity at exit: $34,279

10-year hold

• IRR: 9.3%
• Equity multiple: 1.79×
• Total profit: $50,559
• Equity at exit: $19,878

Cash invested: $64,372 (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 46055

• Home prices YoY: -20.1%
• Rents YoY: 5.2%
• Active inventory: 422
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,391 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$154 /mo · $1,846/yr
• Insurance: −$96
• HOA: −$30
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $404

Break-even live

Break-even rent $1,880

Max offer price $229,900

Occupancy floor 78%

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7357 N Gateway Crossing Blvd McCordsville, IN	1.0–2.0	1.0–1.5	882	$1,830	$2.07	24d	4	0.44mi
7298 N Kensington Way Unit 6311-213 McCordsville, IN	2.0	2.0	1109	$2,050	$1.85	2d	1	0.47mi
N Kensington Way McCordsville, IN	1.0–2.0	1.0–2.0	968	$2,375	$2.45	20d	6	0.60mi
5811 Main St McCordsville, IN	1.0–2.0	1.0–2.0	926	$2,140	$2.31	2d	14	1.08mi
5871 Broadacre Dr McCordsville, IN	1.0–3.0	1.0–2.0	978	$2,285	$2.34	3d	150	1.17mi

HOA detail

• Monthly dues: $30 · $360/yr

Listing history 6 events

1. 2026-06-17
   status $229,900 Pending 5 DOM
2. 2026-06-17
   days on market $229,900 Active 5 DOM
3. 2026-06-16
   days on market $229,900 Active 4 DOM
4. 2026-06-15
   days on market $229,900 Active 3 DOM
5. 2026-06-13
   remarks 327-char remark
6. 2026-06-13
   listed $229,900 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: $1,846 · $154/mo
• Projected year-2 tax: $1,900 · $158/mo
• Expected delta: +$54/yr (+$5/mo · 2.9%)

ⓘ 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,691
• − Mortgage interest: −$12,878
• − Property taxes: −$1,846
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,295
• − Management: −$2,295
• − HOA: −$360
• − Depreciation: −$6,688
• Taxable income: $1,179
• Est. tax owed @ 24.0%: −$283
• After-tax cash flow: $4,560/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: Mt Vernon Community School Corporation
• NCES district ID: 1807260
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $73,671
• Composite: 41.3/100
• National rank: #3514
• State rank: #70 of 301 in IN

Livability — McCordsville

• Score: 69/100
• State rank: #181
• US rank: #8388

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: McCordsville, IN
• County: Hancock County · 59,521 people
• City population: 16,010
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 16,010
• Household income: $113,784
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 58.0

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 13% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Lithuanian 3% Italian 3% Romanian 3%
• Foreign-born: 4% · Canada, Vietnam, Jamaica
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.35%
• Current HPI: 207.9764
• Rent YoY: ▲ 5.18%
• 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

5 events — show timeline

• 2026-06-11 Listed $229,900 MIBOR as Distributed by MLS Grid
• 2008-04-08 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-04-03 Sold (MLS) $85,000 MIBOR as Distributed by MLS Grid
• 2008-01-04 Listed $90,000 MIBOR as Distributed by MLS Grid
• 2003-02-05 Listed $117,061 MIBOR as Distributed by MLS Grid

Property tax history

+8.5%/yr

Latest (2025): $1,846 · -7.1% YoY. Source: county tax records.