5860 Aho Dr · Avon, IN 46123

$229,900

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 2 Days on market

Built 1960 0.76 ac lot $276/sqft · 46% above area Est $315k · 27% under

---

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 +6.8/30.0
• Schools +4.7/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

Key facts

• Updated electrical
• Large shed
• Walk out basement

Tags

• WALK OUT BASEMENT
• LARGE SHED
• UPDATED ELECTRICAL
• HARDI PLANK CEMENT SIDING
• HEAT PUMP HVAC
• NEW SEWER LINE

Property features AI

Finance

• Other: Approximately 0.76-acre lot (about 1/2–1 acre); About 75% of optional level finished; Total building area about 1,664; living area about 1,456

Exterior

• Parking: Gravel parking
• Utilities: Private water; Septic system
• Home design: Single family residence; One level
• Construction: Wood siding; Block foundation
• Exterior features: Patio; Screened porch; Mature trees

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator; Disposal; Exhaust fan; Water purifier
• Bedrooms: 2 bedrooms on the main level; Primary bedroom with walk-in closet
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning
• Interior features: Hardwood floors; Pantry; Walk-in closet(s); Walk-out basement
• Laundry & utility: Laundry in basement; Electric water heater; Water softener (owned); Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-356 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (27.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (32.1% below list).
• Recommended offer: $156k (32.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#75 in IN, #4,686 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Avon Community School Corporation (suburban): math 51% / reading 53% proficiency, ranked #32 of 301 in IN (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: River Birch Elementary School (math 64% / reading 48%, grade C+, #183 of 994 statewide, top 19%, 655 students, 39% FRL); Avon Middle School North (math 45% / reading 55%, grade C, #48 of 330 statewide, top 15%, 854 students, 42% FRL); Avon High School (math 44% / reading 76%, grade C+, #46 of 369 statewide, top 13%, 3,348 students, 38% FRL) — zoned schools average 40% FRL vs 20% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.0%/yr); 383 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $7k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 25y 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.

Recommended offer $155,989 (32.1% 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. Built in 1960 — 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 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?
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: 0.68% ✗
• Cap rate: 4.43%
• Cash-on-cash: -6.64%
• DSCR: 0.70
• GRM: 12.3

CMA / ARV

• ARV (median comp): $314,939
• List price: $229,900
• Delta: -27.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.98% rent growth · sell at horizon

5-year hold

• IRR: -27.8%
• Equity multiple: 0.07×
• Total profit: $-59,936
• Equity at exit: $34,279

10-year hold

• IRR: -26.4%
• Equity multiple: -0.26×
• Total profit: $-81,422
• 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 46123

• Home prices YoY: -21.3%
• Rents YoY: 3.0%
• Active inventory: 383
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,560 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$287 /mo · $3,443/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $-356

Break-even live

Break-even rent $2,011

Max offer price $167,010

Occupancy floor —

Sensitivity live

Price	-10% $-226	-5% $-291	+0% $-356	+5% $-421	+10% $-486
Rent	-10% $-479	-5% $-418	+0% $-356	+5% $-294	+10% $-233
Rate	-1.0pp $-240	-0.5pp $-298	base $-356	+0.5pp $-416	+1.0pp $-476

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6905 Legacy Park Dr Brownsburg, IN	1.0–3.0	1.0–2.0	1078	$1,601	$1.49	0d	14	1.43mi

Listing history 18 events

1. 2026-05-03
   status Pending 635-char remark
2. 2026-05-01
   listed $229,900 Active 635-char remark
3. 2017-03-06
   soldstatus $40,000 Sold 197-char remark

   Show marketing remark (197 chars)

   Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

4. 2017-02-13
   status Pending 197-char remark

   Show marketing remark (197 chars)

   Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

5. 2017-02-04
   status Active 197-char remark

   Show marketing remark (197 chars)

   Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

6. 2017-01-04
   status Pending 197-char remark

   Show marketing remark (197 chars)

   Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

7. 2016-12-29
   price $49,000 197-char remark

   Show marketing remark (197 chars)

   Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

8. 2016-11-24
   price $56,000 197-char remark

   Show marketing remark (197 chars)

   Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

9. 2016-11-17
   status Active 197-char remark

   Show marketing remark (197 chars)

   Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

10. 2016-11-14
    status Pending 197-char remark

    Show marketing remark (197 chars)

    Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

11. 2016-11-03
    price $63,000 197-char remark

    Show marketing remark (197 chars)

    Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

12. 2016-11-03
    status Active 197-char remark

    Show marketing remark (197 chars)

    Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

13. 2016-09-23
    status Pending 197-char remark

    Show marketing remark (197 chars)

    Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

14. 2016-07-22
    listed $70,000 Active 197-char remark

    Show marketing remark (197 chars)

    Great single story home in beautiful Avon with a large yard and full walk out basement. Home features 2 bedrooms 1 bathroom with a finished room in the basement that could be used as a 3rd bedroom.

15. 2007-06-18
    soldstatus $85,000

    Show marketing remark (419 chars)

    Darling little artist cottage located on 1.47 acres in a private community. New furnace, roof, & windows within last 4 years. Faux finish painting, updated kitchen w/new cabinets & ceramic tile within last 10 years. Fin ished walkout basement with separate laundry room, work shop & family room. So come enjoy living in this secluded community with a brown county setting. No rentals allowed per covenants.

16. 2006-06-13
    listed $89,900

    Show marketing remark (419 chars)

    Darling little artist cottage located on 1.47 acres in a private community. New furnace, roof, & windows within last 4 years. Faux finish painting, updated kitchen w/new cabinets & ceramic tile within last 10 years. Fin ished walkout basement with separate laundry room, work shop & family room. So come enjoy living in this secluded community with a brown county setting. No rentals allowed per covenants.

17. 2002-02-27
    soldstatus $66,137
18. 2001-11-16
    listed $70,200

ⓘ 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: $3,443 · $287/mo
• Projected year-2 tax: $3,443 · $287/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 6 d/yr ≥101°F today · 17 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: $18,719
• − Mortgage interest: −$12,878
• − Property taxes: −$3,443
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,497
• − Management: −$1,497
• − Depreciation: −$6,688
• Taxable loss: −$8,435
• Est. tax savings @ 24.0%: +$2,024
• After-tax cash flow: $-2,248/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: Avon Community School Corporation
• NCES district ID: 1800270
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 53% ▼ -8.00%
• Median HH income: $75,987
• Composite: 46.93/100
• National rank: #2362
• State rank: #32 of 301 in IN

Livability — Avon

• Score: 74/100
• State rank: #75
• US rank: #4686

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hendricks County · 143,373 people
• City population: 43,353
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 43,353
• Household income: $103,485
• Rent vs Own: 19.6% rent · 80.4% own
• Severe rent burden: 529.0

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 (74%)
• Race & ethnicity: White 74% Black 12% Hispanic / Latino 7% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Romanian 2% Italian 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 2%

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: ▼ -55.05%
• Current HPI: 203.9226
• Rent YoY: ▲ 2.98%
• 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

+227.5% since first listed

19 events — show timeline

• 2026-06-05 Sold (MLS) $229,900 MIBOR as Distributed by MLS Grid
• 2026-05-03 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-01 Listed $229,900 MIBOR as Distributed by MLS Grid
• 2017-03-06 Sold (MLS) $40,000 MIBOR as Distributed by MLS Grid
• 2017-02-13 Pending — MIBOR as Distributed by MLS Grid
• 2017-02-04 Relisted — MIBOR as Distributed by MLS Grid
• 2017-01-04 Pending — MIBOR as Distributed by MLS Grid
• 2016-12-29 Price Changed $49,000 MIBOR as Distributed by MLS Grid
• 2016-11-24 Price Changed $56,000 MIBOR as Distributed by MLS Grid
• 2016-11-17 Relisted — MIBOR as Distributed by MLS Grid
• 2016-11-14 Pending — MIBOR as Distributed by MLS Grid
• 2016-11-03 Price Changed $63,000 MIBOR as Distributed by MLS Grid
• 2016-11-03 Relisted — MIBOR as Distributed by MLS Grid
• 2016-09-23 Pending — MIBOR as Distributed by MLS Grid
• 2016-07-22 Listed $70,000 MIBOR as Distributed by MLS Grid
• 2007-06-18 Sold (MLS) $85,000 MIBOR as Distributed by MLS Grid
• 2006-06-13 Listed $89,900 MIBOR as Distributed by MLS Grid
• 2002-02-27 Sold (MLS) $66,137 MIBOR as Distributed by MLS Grid
• 2001-11-16 Listed $70,200 MIBOR as Distributed by MLS Grid

Property tax history

+10.9%/yr

Latest (2025): $3,443 · +9.2% YoY. Source: county tax records.