1701 Crimson Ln · Lebanon, IN 46052

$199,000

3 bd · 2.0 ba · 1,166 sqft · SingleFamily public records · 2 Days on market

Built 2000 8,102 sqft lot Est $240k · 17% under

---

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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +5.6/10.0
• Schools +3.7/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

ATTENTION INVESTORS & DIY BUYERS! Looking for a project with massive upside and the ultimate financial head start? This 3-bedroom ranch comes out of the gate with a 4-YEAR-OLD ROOF, completely knocking out the absolute biggest structural expense before you even open the front door! Built in 2000, this home offers fantastic bones and a total blank canvas, leaving you plenty of room to update, modernize, and maximize your return on investment. Top Highlights & Equity Builders:The Ultimate Head Start: A 4-year-old roof means a major capital expenditure is already bypassed, letting you channel 100% of your renovation budget into the interior transformation. Smart, Functional Layout:

Key facts

• 2 car carport
• 4 year old roof
• 8,102 sq ft lot

Tags

• 4 YEAR OLD ROOF
• 2 CAR CARPORT
• DETACHED STORAGE SHED

Property features AI

Exterior

• Parking: Attached 2-car garage (approximately 440 sq ft)
• Utilities: Public water; Municipal sewer connected; Municipal solid waste service
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Slab foundation
• Exterior features: Approximately 0.19-acre lot

Interior

• Kitchen: Electric oven; Microwave; Dishwasher; Garbage disposal
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Attic access
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Cap rate 8.8% vs local median 3.5% in Lebanon — 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 66/100 on livability (#296 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Lebanon Community School Corporation (town): math 41% / reading 44% proficiency, ranked #115 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 183 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 898 units permitted in Boone County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Boone County population projected at +46% 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.

Recommended offer $199,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.06% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.78%
• DSCR: 1.39
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $240,196
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1701 Crimson Ln	0.00mi	3/2.0	1,166 (0%)	0mo	$199,000	$171	100
2121 Jason Dr	0.42mi	3/2.0	1,216 (+4%)	1mo	$250,000	$206	73
1428 Elizabeth Dr	0.31mi	3/2.0	1,066 (-9%)	1mo	$247,000	$232	70
1505 Elizabeth Dr	0.31mi	3/1.0	1,084 (-7%)	1mo	$231,000	$213	69
2114 Hannah Ct	0.14mi	3/2.5	1,326 (+14%)	2mo	$275,000	$207	67
1423 Ashley Dr	0.24mi	3/2.0	1,023 (-12%)	3mo	$250,000	$244	66
2009 Jason Dr	0.44mi	3/2.0	1,296 (+11%)	3mo	$225,000	$174	58
1311 Geri Dr	0.48mi	3/1.5	1,014 (-13%)	2mo	$199,000	$196	52
1611 Garfield St	0.75mi	3/1.0	1,104 (-5%)	0mo	$249,000	$226	52
1010 Maple Dr W	0.55mi	3/2.0	1,304 (+12%)	3mo	$260,000	$199	52
1409 Geri Dr	0.48mi	2/1.0 (-1)	1,014 (-13%)	1mo	$170,000	$168	46
1020 Syracuse Dr	0.58mi	4/1.0 (+1)	1,056 (-9%)	4mo	$172,500	$163	45

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-6,320
• Equity at exit: $29,672

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $27,769
• Equity at exit: $17,206

Cash invested: $55,720 (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 46052

• Active inventory: 183
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,109 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$132 /mo · $1,584/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $408

Break-even live

Break-even rent $1,593

Max offer price $199,000

Occupancy floor 76%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1704 Crimson Ln Lebanon, IN	3.0	2.0	1110	$2,000	$1.80	17d	1	0.03mi
2102 Yosemite Dr Lebanon, IN	3.0	2.0	1400	$2,300	$1.64	4d	1	0.46mi
2102 Yosemite Dr Lebanon, IN	3.0	2.0	1400	$2,300	$1.64	14d	1	0.46mi
830 Campbell St Lebanon, IN	2.0–4.0	2.0	1728	$1,604	$0.93	1d	1	0.77mi
806 Harney Dr Lebanon, IN	3.0	1.0	1170	$2,500	$2.14	17d	1	0.86mi
721 Crown Pointe Dr Lebanon, IN	2.0–3.0	1.0–2.0	991	$1,413	$1.43	1d	5	1.03mi

Listing history 1 events

1. 2026-05-23
   listed $199,000 Active

ⓘ 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: $1,584 · $132/mo
• Projected year-2 tax: $1,638 · $136/mo
• Expected delta: +$54/yr (+$4/mo · 3.4%)

ⓘ 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 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: $25,309
• − Mortgage interest: −$11,147
• − Property taxes: −$1,584
• − Insurance: −$995
• − Repairs & maintenance: −$2,025
• − Management: −$2,025
• − Depreciation: −$5,789
• Taxable income: $1,744
• Est. tax owed @ 24.0%: −$419
• After-tax cash flow: $4,474/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: Lebanon Community School Corporation
• NCES district ID: 1805790
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $52,178
• Composite: 36.77/100
• National rank: #4571
• State rank: #115 of 301 in IN

Livability — Lebanon

• Score: 66/100
• State rank: #296
• US rank: #11943

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lebanon, IN
• County: Boone County · 69,822 people
• City population: 23,553
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 23,553
• Household income: $68,930
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 235.0

Population outlook (Boone County) Hauer SSP2

• Today (2025): 77,877 people
• By 2030: 85,185 · +9.4%
• By 2040: 99,753 · +28.1%
• By 2050: 113,572 · +45.8%
• By 2075: 145,674 · +87.1%
• By 2100: 161,165 · +106.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 6% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 4% Slovak 2% Italian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Boone

• 2024 margin: R (+16.0) · D 41.0% · R 57.0% · Other 2.0%
• 2008→2024 swing: +9.8pp toward D · 2008: -25.8pp · 2024: -16.0pp
• All cycles: 2024: R+16.0 2020: R+18.4 2016: R+29.5 2012: R+37.8 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -188.54%
• Current HPI: 229.2844
• 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

1 event — show timeline

• 2026-05-23 Listed $199,000 MIBOR as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2025): $1,584 · -11.3% YoY. Source: county tax records.