555 Hyannis Dr · Avon, IN 46123

$345,000

5 bd · 2.5 ba · 2,088 sqft · SingleFamily public records · 149 Days on market

Built 1996 0.26 ac lot $165/sqft · at area comps Est $335k · at est. $19/mo HOA · 1% 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 +12.7/30.0
• ARV discount +6.2/15.0
• Schools +4.7/10.0
• DSCR +3.8/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to Austin Lakes in Avon, Indiana-where style, space, and standout updates come together beautifully! This exceptional FIVE-BEDROOM, two-and-a-half-bath home delivers the perfect blend of comfort, functionality, and modern design. From the moment you arrive, you'll be impressed by the extra-wide driveway, mature trees, and a fully fenced backyard with the fence set at 5 feet. Enjoy outdoor living at its finest with a spacious patio, mini barn, and serene pond views-an ideal setting for both relaxing evenings and entertaining guests. Step inside to a completely transformed first floor showcasing new LVP flooring, fresh designer paint, and sleek modern baseboards throughout. The beautifully remodeled kitchen is truly the heart of the home, featuring stainless steel appliances, abundant cabinetry, soft-close drawers, and stylish finishes that make both everyday cooking and hosting a delight. Upstairs, you'll find FIVE generously sized bedrooms, including a luxurious primary suite complete with a NEW walk-in shower, double vanities, and an oversized walk-in closet. The 5th bedroom provides incredible versatility-perfect for guest rooms, a home office, workout space, or playroom. This home also boasts major updates for peace of mind, including new Andersen Renewal black trim windows with a 25-year transferable warranty, plus a new roof and gutters too! Simply put, you will not find a better FIVE-BEDROOM value in Avon!

Key facts

• Serene pond views
• Extra-wide driveway
• Mini barn

Tags

• EXTRA-WIDE DRIVEWAY
• FULLY FENCED BACKYARD
• SPACIOUS PATIO
• MINI BARN
• SERENE POND VIEWS
• NEW LVP FLOORING

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $345k.

Deal economics

• At list price, monthly cash flow is $-35 ($-422/yr) — negative.
• To cash-flow at today's rent, offer at most $339k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $272k (21.2% below list).
• Recommended offer: $272k (21.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.8% in Avon — 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 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.
• Market conditions: Rents rising (+3.0%/yr); 380 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).
• This rent runs 32% of the median local income ($103k/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 $2k of loan paydown is wiped out by about $10k 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

• It's been on market 149 days — a 12% lower offer ($304k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 $228k; list at $345k implies a 51% gain — meaningful room to come down on a strong offer.

Recommended offer $271,760 (21.2% 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 149 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.79% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.44%
• DSCR: 0.98
• GRM: 10.6

CMA / ARV

• ARV (median comp): $335,455
• List price: $345,000
• Delta: 2.85%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
464 Hyannis Dr	0.09mi	4/2.5 (-1)	2,178 (+4%)	14mo	$340,000	$156	72
8304 Portside Dr	0.32mi	4/2.5 (-1)	2,304 (+10%)	0mo	$335,000	$145	63
576 Port Dr	0.18mi	4/2.5 (-1)	1,920 (-8%)	14mo	$300,000	$156	62
373 Austin Dr	0.27mi	4/2.5 (-1)	1,860 (-11%)	5mo	$300,000	$161	60
1143 Kinross Dr	0.61mi	4/2.5 (-1)	2,084 (-0%)	8mo	$305,000	$146	60
8094 Wesleyan Dr	0.38mi	4/3.0 (-1)	2,278 (+9%)	3mo	$434,900	$191	58
276 Austin Dr	0.36mi	4/2.5 (-1)	2,310 (+11%)	8mo	$290,000	$126	54
7961 Thornberry Ct	0.67mi	4/2.5 (-1)	2,130 (+2%)	9mo	$374,000	$176	53
8405 Anderson Cir	0.61mi	4/3.0 (-1)	1,948 (-7%)	2mo	$292,500	$150	52
8429 Captain Dr	0.12mi	4/2.5 (-1)	1,836 (-12%)	23mo	$300,000	$163	50
231 Nicole Blvd	0.48mi	4/3.0 (-1)	1,902 (-9%)	15mo	$298,000	$157	43
285 Watercrest Way	0.41mi	4/2.5 (-1)	2,310 (+11%)	21mo	$305,000	$132	40

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 · 2.98% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.40×
• Total profit: $-58,282
• Equity at exit: $51,441

10-year hold

• IRR: -9.1%
• Equity multiple: 0.44×
• Total profit: $-54,196
• Equity at exit: $29,829

Cash invested: $96,600 (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: 380
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,718 medium
• Mortgage (P&I): −$1,809
• Tax from tax record: −$210 /mo · $2,521/yr
• Insurance: −$144
• HOA: −$19
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $-35

Break-even live

Break-even rent $2,762

Max offer price $338,789

Occupancy floor 96%

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
794 Carolina Way Avon, IN	4.0	2.5	2390	$2,470	$1.03	23d	1	0.45mi
861 Adler Dr Avon, IN	4.0	2.5	2669	$3,100	$1.16	23d	1	0.87mi
1455 Bearsden Dr Avon, IN	4.0	2.5	2188	$2,399	$1.10	3d	1	0.94mi
8802 Benjamin Ln Avon, IN	4.0	3.0	2229	$2,395	$1.07	2d	1	1.46mi

HOA detail

• Monthly dues: $19 · $228/yr

Listing history 24 events

1. 2026-06-18
   days on market $345,000 Active 149 DOM
2. 2026-06-17
   days on market $345,000 Active 148 DOM
3. 2026-06-16
   days on market $345,000 Active 147 DOM
4. 2026-06-15
   days on market $345,000 Active 146 DOM
5. 2026-06-13
   days on market $345,000 Active 144 DOM
6. 2026-06-13
   days on market $345,000 Active 143 DOM
7. 2026-06-09
   days on market $345,000 Active 140 DOM
8. 2026-06-08
   days on market $345,000 Active 139 DOM
9. 2026-06-07
   days on market $345,000 Active 138 DOM
10. 2026-06-03
    days on market $345,000 Active 134 DOM
11. 2026-06-02
    days on market $345,000 Active 133 DOM
12. 2026-06-01
    days on market $345,000 Active 132 DOM
13. 2026-05-31
    days on market $345,000 Active 131 DOM
14. 2026-04-17
    price $345,000 1451-char remark

    Show marketing remark (1451 chars)

    Welcome home to Austin Lakes in Avon, Indiana-where style, space, and standout updates come together beautifully! This exceptional FIVE-BEDROOM, two-and-a-half-bath home delivers the perfect blend of comfort, functionality, and modern design. From the moment you arrive, you'll be impressed by the extra-wide driveway, mature trees, and a fully fenced backyard with the fence set at 5 feet. Enjoy outdoor living at its finest with a spacious patio, mini barn, and serene pond views-an ideal setting for both relaxing evenings and entertaining guests. Step inside to a completely transformed first floor showcasing new LVP flooring, fresh designer paint, and sleek modern baseboards throughout. The beautifully remodeled kitchen is truly the heart of the home, featuring stainless steel appliances, abundant cabinetry, soft-close drawers, and stylish finishes that make both everyday cooking and hosting a delight. Upstairs, you'll find FIVE generously sized bedrooms, including a luxurious primary suite complete with a NEW walk-in shower, double vanities, and an oversized walk-in closet. The 5th bedroom provides incredible versatility-perfect for guest rooms, a home office, workout space, or playroom. This home also boasts major updates for peace of mind, including new Andersen Renewal black trim windows with a 25-year transferable warranty, plus a new roof and gutters too! Simply put, you will not find a better FIVE-BEDROOM value in Avon!

15. 2026-01-20
    listed $349,900 Active 1451-char remark

    Show marketing remark (1451 chars)

    Welcome home to Austin Lakes in Avon, Indiana-where style, space, and standout updates come together beautifully! This exceptional FIVE-BEDROOM, two-and-a-half-bath home delivers the perfect blend of comfort, functionality, and modern design. From the moment you arrive, you'll be impressed by the extra-wide driveway, mature trees, and a fully fenced backyard with the fence set at 5 feet. Enjoy outdoor living at its finest with a spacious patio, mini barn, and serene pond views-an ideal setting for both relaxing evenings and entertaining guests. Step inside to a completely transformed first floor showcasing new LVP flooring, fresh designer paint, and sleek modern baseboards throughout. The beautifully remodeled kitchen is truly the heart of the home, featuring stainless steel appliances, abundant cabinetry, soft-close drawers, and stylish finishes that make both everyday cooking and hosting a delight. Upstairs, you'll find FIVE generously sized bedrooms, including a luxurious primary suite complete with a NEW walk-in shower, double vanities, and an oversized walk-in closet. The 5th bedroom provides incredible versatility-perfect for guest rooms, a home office, workout space, or playroom. This home also boasts major updates for peace of mind, including new Andersen Renewal black trim windows with a 25-year transferable warranty, plus a new roof and gutters too! Simply put, you will not find a better FIVE-BEDROOM value in Avon!

16. 2025-10-07
    listed $349,900 Active
17. 2021-02-19
    soldstatus $227,900 Closed
18. 2021-01-07
    status Pending
19. 2020-12-19
    status Active
20. 2020-12-11
    status Pending
21. 2020-12-04
    listed $224,900 Active
22. 2017-07-06
    soldstatus $187,000 Sold
23. 2017-05-22
    historical Active with Contingency
24. 2017-05-19
    listed $187,000 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: $2,521 · $210/mo
• Projected year-2 tax: $2,727 · $227/mo
• Expected delta: +$206/yr (+$17/mo · 8.2%)

ⓘ 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 · 19 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: $32,611
• − Mortgage interest: −$19,325
• − Property taxes: −$2,521
• − Insurance: −$1,725
• − Repairs & maintenance: −$2,609
• − Management: −$2,609
• − HOA: −$228
• − Depreciation: −$10,036
• Taxable loss: −$6,442
• Est. tax savings @ 24.0%: +$1,546
• After-tax cash flow: $1,124/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

+84.5% since first listed

11 events — show timeline

• 2026-04-17 Price Changed $345,000 MIBOR as Distributed by MLS Grid
• 2026-01-20 Listed $349,900 MIBOR as Distributed by MLS Grid
• 2025-10-07 Listed $349,900 MIBOR as Distributed by MLS Grid
• 2021-02-19 Sold (MLS) $227,900 MIBOR as Distributed by MLS Grid
• 2021-01-07 Pending — MIBOR as Distributed by MLS Grid
• 2020-12-19 Relisted — MIBOR as Distributed by MLS Grid
• 2020-12-11 Pending — MIBOR as Distributed by MLS Grid
• 2020-12-04 Listed $224,900 MIBOR as Distributed by MLS Grid
• 2017-07-06 Sold (MLS) $187,000 MIBOR as Distributed by MLS Grid
• 2017-05-22 Contingent — MIBOR as Distributed by MLS Grid
• 2017-05-19 Listed $187,000 MIBOR as Distributed by MLS Grid

Property tax history

+5.7%/yr

Latest (2025): $2,521 · +21.4% YoY. Source: county tax records.