89 N Murray St · Danville, IN 46122

$324,000

4 bd · 2.5 ba · 2,200 sqft · SingleFamily public records · 40 Days on market

Built 2022 5,184 sqft lot $147/sqft · at area comps Est $323k · at est. $42/mo HOA · 2% 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 +11.4/30.0
• ARV discount +7.3/15.0
• Schools +4.8/10.0
• DSCR +3.4/10.0
• Livability +3.2/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to 89 N Murray St in Danville! Built in 2022 and still feeling just like new, this beautifully maintained home offers the perfect blend of modern style, comfort, and everyday functionality. With over 2,200 square feet of living space, this two-story home features four spacious bedrooms, two full bathrooms, and a convenient half bath, giving everyone room to spread out and feel at home. Whether you're buying your very first home or looking for more space to grow into, this home checks all the boxes. The kitchen is truly the heart of the home, complete with stainless steel appliances, a large center island, and an open layout that makes cooking, gathering, and entertaining easy a

Key facts

• 5,184 sq ft lot
• 2 garage spots
• Built 2022

Property features AI

Finance

• HOA & community: Homeowners association with annual fee ($500/year); HOA amenities include a park, playground, and snow removal

Exterior

• Parking: Attached 2-car garage (approx. 400 sq ft)
• Utilities: Community sewer; Private water
• Home design: Single family residence; Two levels
• Construction: Vinyl siding; Slab foundation
• Exterior features: No fence; Lot under 1/4 acre (0.12 acre)

Interior

• Kitchen: Electric cooktop; Electric oven; Microwave; Dishwasher; Refrigerator; Eat-in kitchen with pantry
• Bedrooms: Four bedrooms on the upper level; Primary bedroom with walk-in closet
• Bathrooms: Two full bathrooms; One half bathroom; Primary bathroom with double sinks
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic access; Eat-in kitchen; Pantry; Walk-in closet(s)
• Laundry & utility: Washer; Dryer; Laundry located on upper level; Water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $324k.

Deal economics

• At list price, monthly cash flow is $-110 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $305k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (22.9% below list).
• Recommended offer: $250k (22.9% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.1% in Danville — 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 65/100 on livability (#325 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Danville Community School Corporation (suburban): math 52% / reading 57% proficiency, ranked #27 of 301 in IN (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Danville Community High School (math 42% / reading 67%, grade C-, #79 of 369 statewide, top 26%, 788 students, 27% FRL).
• Market conditions: 196 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).
• This rent runs 30% of the median local income ($100k/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 40 days — a 3% lower offer ($314k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $59k; list at $324k implies a 449% gain — meaningful room to come down on a strong offer.

Recommended offer $249,786 (22.9% 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 40 days. Have you received any prior offers? Is the seller open to a 23% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.46%
• DSCR: 0.94
• GRM: 10.8

CMA / ARV

• ARV (median comp): $322,640
• List price: $324,000
• Delta: 0.42%
• 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
197 N Fairfield Dr	0.24mi	4/2.5	1,900 (-14%)	1mo	$308,000	$162	66
3672 Wetherby Pl	0.43mi	4/2.5	2,024 (-8%)	2mo	$330,000	$163	65
3651 Wetherby Pl	0.40mi	4/2.5	2,011 (-9%)	3mo	$323,000	$161	65
3068 E Thorpe St	0.32mi	4/2.5	1,900 (-14%)	2mo	$326,000	$172	60
796 Scarsdale Ln	0.60mi	4/2.5	2,056 (-6%)	2mo	$335,000	$163	60
4235 Pecan Dr	0.43mi	3/2.5 (-1)	2,457 (+12%)	4mo	$385,000	$157	52
726 Oxford Ln	0.50mi	5/3.0 (+1)	2,460 (+12%)	0mo	$333,000	$135	50
3576 Cosmic Ct	0.66mi	5/3.5 (+1)	2,054 (-7%)	4mo	$375,000	$183	46
3022 Essex Dr	0.63mi	5/3.0 (+1)	2,465 (+12%)	2mo	$355,000	$144	42
3694 Locust Dr	0.62mi	5/3.0 (+1)	2,484 (+13%)	1mo	$365,000	$147	42
3616 Cosmic Ct	0.66mi	5/3.0 (+1)	2,460 (+12%)	3mo	$360,000	$146	40
3656 Cosmic Ct	0.65mi	5/3.0 (+1)	2,465 (+12%)	4mo	$359,185	$146	39

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: -18.7%
• Equity multiple: 0.34×
• Total profit: $-59,578
• Equity at exit: $48,309

10-year hold

• IRR: -11.2%
• Equity multiple: 0.33×
• Total profit: $-61,153
• Equity at exit: $28,014

Cash invested: $90,720 (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 46122

• Home prices YoY: -32.1%
• Active inventory: 196
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,498 medium
• Mortgage (P&I): −$1,699
• Tax from tax record: −$207 /mo · $2,489/yr
• Insurance: −$135
• HOA: −$42
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $-110

Break-even live

Break-even rent $2,637

Max offer price $304,533

Occupancy floor 99%

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: $81,000
• Closing costs: $9,720
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
204 Myers Rd Danville, IN	3.0	2.0	1627	$1,889	$1.16	43d	1	0.49mi
2068 Quail West Dr Danville, IN	5.0	3.0	2850	$2,395	$0.84	17d	1	1.27mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 15 events

1. 2026-06-17
   status $324,000 Pending 40 DOM
2. 2026-06-17
   days on market $324,000 Active 40 DOM
3. 2026-06-16
   days on market $324,000 Active 39 DOM
4. 2026-06-15
   days on market $324,000 Active 38 DOM
5. 2026-06-13
   days on market $324,000 Active 36 DOM
6. 2026-06-13
   days on market $324,000 Active 35 DOM
7. 2026-06-09
   days on market $324,000 Active 32 DOM
8. 2026-06-08
   days on market $324,000 Active 31 DOM
9. 2026-06-07
   days on market $324,000 Active 30 DOM
10. 2026-06-03
    days on market $324,000 Active 26 DOM
11. 2026-06-02
    days on market $324,000 Active 25 DOM
12. 2026-06-01
    days on market $324,000 Active 24 DOM
13. 2026-05-31
    days on market $324,000 Active 23 DOM
14. 2026-05-07
    listed $324,000 Active 1276-char remark
15. 2021-10-18
    soldstatus $59,000

ⓘ 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: $2,489 · $207/mo
• Projected year-2 tax: $2,622 · $218/mo
• Expected delta: +$132/yr (+$11/mo · 5.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,974
• − Mortgage interest: −$18,149
• − Property taxes: −$2,489
• − Insurance: −$1,620
• − Repairs & maintenance: −$2,398
• − Management: −$2,398
• − HOA: −$504
• − Depreciation: −$9,425
• Taxable loss: −$7,009
• Est. tax savings @ 24.0%: +$1,682
• After-tax cash flow: $360/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: Danville Community School Corporation
• NCES district ID: 1802550
• Math proficiency: 52% ▼ -10.00%
• Reading proficiency: 57% ▼ -6.00%
• Median HH income: $64,913
• Composite: 47.93/100
• National rank: #2208
• State rank: #27 of 301 in IN

Livability — Danville

• Score: 65/100
• State rank: #325
• US rank: #12689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hendricks County · 143,373 people
• City population: 16,974
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 16,974
• Household income: $99,531
• Rent vs Own: 20.7% rent · 79.3% own
• Severe rent burden: 234.0

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 2% Black 2% Two or more races 2%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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: ▼ -105.58%
• Current HPI: 222.8401
• 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

+449.2% since first listed

3 events — show timeline

• 2026-06-17 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-07 Listed $324,000 MIBOR as Distributed by MLS Grid
• 2021-10-18 Sold (Public Records) $59,000 Public Records

Property tax history

+302.6%/yr

Latest (2025): $2,489 · +20.3% YoY. Source: county tax records.