620 S 2nd St · Noblesville, IN 46060

$169,900

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 338 Days on market

Built 1970 6,534 sqft lot $136/sqft · 34% below area Est $259k · 34% 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 +18.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +5.5/10.0
• Schools +4.8/10.0
• Livability +4.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

Key facts

• Remodeled
• Porch
• Shaker cabinets

Tags

• REMODELED
• SHAKER CABINETS
• OUTDOOR SPACE
• PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-266 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (27.7% below list).
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $123k (27.7% below list) — sets the bar for cash-flow.
• Cap rate 7.4% vs local median 3.2% in Noblesville — 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 86/100 on livability (#3 in IN, #446 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: commute F.
• Noblesville Schools (suburban): math 51% / reading 57% proficiency, ranked #26 of 301 in IN (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Stony Creek Elementary School (math 61% / reading 49%, grade C, #192 of 994 statewide, top 20%, 579 students, 24% FRL); Noblesville East Middle School (math 40% / reading 54%, grade D+, #65 of 330 statewide, top 21%, 1,082 students, 37% FRL); Noblesville High School (math 53% / reading 79%, grade B, #28 of 369 statewide, top 7%, 3,227 students, 23% FRL).
• Market conditions: Rents rising (+1.8%/yr); 457 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 338 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $59k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,854 (27.7% 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. It's been on market 338 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.05% ✓
• Cap rate: 7.42%
• Cash-on-cash: 4.04%
• DSCR: 1.18
• GRM: 8.0

CMA / ARV

• ARV (median comp): $258,892
• List price: $169,900
• Delta: -34.37%
• 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
620 S 2nd St	0.00mi	3/2.0	1,248 (0%)	0mo	$147,000	$118	96
1255 S 7th St	0.51mi	3/2.0	1,260 (+1%)	4mo	$250,000	$198	68
850 Westridge Dr N	0.53mi	3/2.0	1,216 (-3%)	9mo	$249,900	$206	60
450 Historic Pleasant St	0.16mi	2/1.0 (-1)	1,071 (-14%)	7mo	$210,000	$196	58
881 Westridge North Dr	0.57mi	3/2.0	1,337 (+7%)	3mo	$225,000	$168	55
1455 S 9th St	0.65mi	2/1.5 (-1)	1,266 (+1%)	8mo	$197,000	$156	53
863 Westridge North Dr	0.53mi	3/2.0	1,136 (-9%)	6mo	$252,500	$222	51
657 Plum St	0.37mi	2/1.0 (-1)	1,400 (+12%)	8mo	$200,000	$143	51
1331 S 9th St	0.57mi	3/1.0	1,134 (-9%)	12mo	$189,900	$167	49
851 Westridge Cir	0.58mi	2/2.0 (-1)	1,188 (-5%)	15mo	$285,000	$240	44
1378 Hannibal St	0.73mi	2/1.5 (-1)	1,340 (+7%)	11mo	$259,900	$194	38
1255 Plum St	0.64mi	3/1.0	1,079 (-14%)	17mo	$217,000	$201	33

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 · 1.79% rent growth · sell at horizon

5-year hold

• IRR: -29.7%
• Equity multiple: 0.03×
• Total profit: $-46,300
• Equity at exit: $25,333

10-year hold

• IRR: -39.2%
• Equity multiple: -0.46×
• Total profit: $-69,376
• Equity at exit: $14,690

Cash invested: $47,572 (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 46060

• Rents YoY: 1.8%
• Active inventory: 457
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,778 high
• Mortgage (P&I): −$891
• Tax from tax record: −$283 /mo · $3,396/yr
• Insurance: −$71
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $-266

Break-even live

Break-even rent $2,116

Max offer price $122,854

Occupancy floor —

Sensitivity live

Price	-10% $-170	-5% $-218	+0% $-266	+5% $-314	+10% $-362
Rent	-10% $-407	-5% $-337	+0% $-266	+5% $-196	+10% $-126
Rate	-1.0pp $-181	-0.5pp $-223	base $-266	+0.5pp $-310	+1.0pp $-355

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
490 Maple Ave Noblesville, IN	2.0	2.0	598	$1,799	$3.01	0d	26	0.42mi
880 Maple Ave Noblesville, IN	1.0–2.0	1.0–2.0	862	$1,950	$2.26	0d	12	0.51mi
196 Westfield Rd Noblesville, IN	2.0	1.0–2.0	921	$2,129	$2.31	25d	25	0.52mi
7983 Stayer Dr Noblesville, IN	1.0–2.0	1.0–2.0	915	$1,775	$1.94	0d	23	0.72mi
314 Great Lakes Dr Noblesville, IN	1.0–2.0	1.0–2.0	775	$1,795	$2.32	0d	9	0.74mi
1408 Holland St Unit A Noblesville, IN	2.0	1.0	769	$1,250	$1.63	45d	1	0.84mi
1408 Holland St Unit A Noblesville, IN	2.0	1.0	769	$1,250	$1.63	25d	1	0.84mi
1408 Holland St Unit B Noblesville, IN	2.0	1.0	1128	$1,450	$1.29	0d	1	0.84mi
1408 Holland St Unit A Noblesville, IN	2.0	1.0	769	$1,250	$1.63	0d	1	0.84mi
1408 Holland St Unit B Noblesville, IN	2.0	1.0	1128	$1,450	$1.29	25d	1	0.84mi
1510 South St Noblesville, IN	3.0	1.0	1276	$1,550	$1.21	45d	1	0.86mi
1445 Rolling Ridge Dr Noblesville, IN	3.0	1.5	1092	$1,600	$1.47	9d	1	1.09mi
1142 Evans Ave Unit 3 Noblesville, IN	2.0	1.0	775	$1,100	$1.42	25d	1	1.13mi
1055 N 10th St Noblesville, IN	2.0	1.0	915	$1,350	$1.48	0d	1	1.17mi
1485 Central Ave Noblesville, IN	2.0	2.0	1212	$1,999	$1.65	6d	1	1.17mi
16711 Aulton Dr Noblesville, IN	3.0	2.5	1353	$1,770	$1.31	0d	1	1.21mi
16700 Aulton Dr Noblesville, IN	3.0	2.5	1353	$1,766	$1.31	0d	1	1.24mi
1260 Lincoln Dr Noblesville, IN	3.0	2.0	1112	$1,900	$1.71	25d	1	1.36mi

Listing history 14 events

1. 2026-04-08
   price $169,900 574-char remark

   Show marketing remark (574 chars)

   Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

2. 2026-03-04
   price $174,500 574-char remark

   Show marketing remark (574 chars)

   Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

3. 2026-02-10
   price $179,900 574-char remark

   Show marketing remark (574 chars)

   Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

4. 2026-01-28
   status Active 574-char remark

   Show marketing remark (574 chars)

   Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

5. 2026-01-13
   status Pending 574-char remark

   Show marketing remark (574 chars)

   Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

6. 2025-12-03
   price $184,900 574-char remark

   Show marketing remark (574 chars)

   Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

7. 2025-11-07
   price $189,000 574-char remark

   Show marketing remark (574 chars)

   Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

8. 2025-10-02
   price $194,900 574-char remark

   Show marketing remark (574 chars)

   Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

9. 2025-09-04
   price $199,900 574-char remark

   Show marketing remark (574 chars)

   Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

10. 2025-08-16
    price $209,900 574-char remark

    Show marketing remark (574 chars)

    Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

11. 2025-07-16
    price $219,900 574-char remark

    Show marketing remark (574 chars)

    Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

12. 2025-06-02
    listed $229,000 Active 574-char remark

    Show marketing remark (574 chars)

    Investors or owner occupants alike this is a great investment. Remodeled inside. New carpets and flooring! Fresh paint and so much more. The heart of this home, the kitchen, featuring delightful shaker cabinets. There is 1248 square feet of living area spread across a single story. The bedrooms provide ample space for rest and relaxation, while the 6534 square feet lot area provides outdoor space where you can stretch out and enjoy the great outdoors. A detached garage provides storage and place to park your vehicle. A porch provides a place to sit and relax as well.

13. 2012-09-12
    historical
14. 2011-11-15
    listed $54,900

ⓘ 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: $3,396 · $283/mo
• Projected year-2 tax: $3,396 · $283/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 6/10 Major FEMA zone AE · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,342
• − Mortgage interest: −$9,517
• − Property taxes: −$3,396
• − Insurance: −$5,968
• − Repairs & maintenance: −$1,707
• − Management: −$1,707
• − Depreciation: −$4,943
• Taxable loss: −$5,897
• Est. tax savings @ 24.0%: +$1,415
• After-tax cash flow: $-1,781/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: Noblesville Schools
• NCES district ID: 1807650
• Math proficiency: 51% ▼ -12.00%
• Reading proficiency: 57% ▼ -8.00%
• Median HH income: $71,719
• Composite: 48.16/100
• National rank: #2177
• State rank: #26 of 301 in IN

Livability — Noblesville

• Score: 86/100
• State rank: #3
• US rank: #446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Noblesville, IN
• County: Hamilton County · 337,479 people
• City population: 88,670
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 47,610
• Household income: $91,918
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 641.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Two or more races 6% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 3% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 1%

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: ▼ -165.86%
• Current HPI: 234.6658
• Rent YoY: ▲ 1.79%
• 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

+209.5% since first listed

14 events — show timeline

• 2026-04-08 Price Changed $169,900 MIBOR as Distributed by MLS Grid
• 2026-03-04 Price Changed $174,500 MIBOR as Distributed by MLS Grid
• 2026-02-10 Price Changed $179,900 MIBOR as Distributed by MLS Grid
• 2026-01-28 Relisted — MIBOR as Distributed by MLS Grid
• 2026-01-13 Pending — MIBOR as Distributed by MLS Grid
• 2025-12-03 Price Changed $184,900 MIBOR as Distributed by MLS Grid
• 2025-11-07 Price Changed $189,000 MIBOR as Distributed by MLS Grid
• 2025-10-02 Price Changed $194,900 MIBOR as Distributed by MLS Grid
• 2025-09-04 Price Changed $199,900 MIBOR as Distributed by MLS Grid
• 2025-08-16 Price Changed $209,900 MIBOR as Distributed by MLS Grid
• 2025-07-16 Price Changed $219,900 MIBOR as Distributed by MLS Grid
• 2025-06-02 Listed $229,000 MIBOR as Distributed by MLS Grid
• 2012-09-12 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-11-15 Listed $54,900 MIBOR as Distributed by MLS Grid

Property tax history

+9.4%/yr

Latest (2025): $3,396 · +18.0% YoY. Source: county tax records.