2060 Bouquet Dr · Danville, IN 46122

$292,490

3 bd · 2.0 ba · 1,533 sqft · SingleFamily · 38 Days on market

Built 2026 Good condition $191/sqft · 19% below area Est $360k · 19% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.0/30.0
• Schools +4.8/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Move in this fall and customize your selections with time to add upgrades at Pheasant Grove, the only community of all detached ranch homes in Danville. Enjoy main-level living without sacrificing the space you need! The Grand Cayman features 3 large bedrooms with ample closet space, 2 full bathrooms with oversized walk-in shower in the owners' bath and 1,533 square feet of living space. The main living area opens to your new kitchen with granite countertops, sit-at island, and all appliances included. Enjoy a lovely backyard view with no immediate rear neighbors. Exterior finishes include Hardie plank siding and stone water table adding charming curb appeal. Pheasant Grove is an all-ranch

Key facts

• Sit-at island
• Lovely backyard view
• Main level living

Tags

• MAIN LEVEL LIVING
• OVERSIZED WALK-IN SHOWER
• GRANITE COUNTERTOPS
• SIT-AT ISLAND
• LOVELY BACKYARD VIEW
• NO IMMEDIATE REAR NEIGHBORS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $292k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-433 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (21.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (31.3% below list).
• Recommended offer: $201k (31.3% below list) — sets the bar for 1% rule.

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.
• Market conditions: 199 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 38 days — a 3% lower offer ($284k) is reasonable based on typical stale-listing flexibility.

Recommended offer $201,067 (31.3% 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 38 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.69% ✗
• Cap rate: 4.52%
• Cash-on-cash: -6.34%
• DSCR: 0.72
• GRM: 12.1

CMA / ARV

• ARV (median comp): $359,700
• List price: $292,490
• Delta: -18.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1570 Adios Butler Ct	0.47mi	3/2.0	1,503 (-2%)	3mo	$298,100	$198	72
1533 Adios Butler Ct	0.51mi	3/2.0	1,503 (-2%)	6mo	$320,000	$213	68
165 Velvet Hat Rd	0.52mi	3/2.0	1,530 (-0%)	15mo	$2,600,000	$1,699	63
1521 Adios Butler Ct	0.51mi	4/2.0 (+1)	1,501 (-2%)	6mo	$299,900	$200	63
132 Velvet Hat Rd	0.55mi	3/2.0	1,503 (-2%)	11mo	$355,000	$236	62
158 Velvet Hat Rd	0.51mi	3/2.0	1,503 (-2%)	14mo	$353,000	$235	62
1580 Hanover St	0.54mi	3/2.0	1,503 (-2%)	14mo	$330,000	$220	60
1544 Hanover St	0.50mi	3/2.0	1,503 (-2%)	21mo	$355,430	$236	56

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: -27.2%
• Equity multiple: 0.08×
• Total profit: $-74,937
• Equity at exit: $43,611

10-year hold

• IRR: -25.1%
• Equity multiple: -0.23×
• Total profit: $-100,634
• Equity at exit: $25,289

Cash invested: $81,897 (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: 199
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,011 medium
• Mortgage (P&I): −$1,534
• Tax est. 1.5%: −$366 /mo · $4,387/yr
• Insurance: −$122
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-433

Break-even live

Break-even rent $2,559

Max offer price $229,848

Occupancy floor —

Sensitivity live

Price	-10% $-231	-5% $-332	+0% $-433	+5% $-534	+10% $-635
Rent	-10% $-592	-5% $-512	+0% $-433	+5% $-353	+10% $-274
Rate	-1.0pp $-286	-0.5pp $-359	base $-433	+0.5pp $-509	+1.0pp $-586

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: $73,122
• Closing costs: $8,775
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
542 W Main St Danville, IN	2.0	2.5	1400	$1,555	$1.11	0d	1	1.13mi
878 W Lincoln St Danville, IN	3.0	1.5	1075	$1,483	$1.38	0d	1	1.36mi

Listing history 2 events

1. 2026-05-31
   days on market $292,490 Active 38 DOM
2. 2026-04-23
   listed $304,305 Active 797-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 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: $24,128
• − Mortgage interest: −$16,384
• − Property taxes: −$4,387
• − Insurance: −$1,462
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − Depreciation: −$8,509
• Taxable loss: −$10,475
• Est. tax savings @ 24.0%: +$2,514
• After-tax cash flow: $-2,681/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This home is in excellent condition with a good condition score of 80. It is move-in ready and has a good resale and rental value. The home has a modern kitchen, two bathrooms, and a well-maintained exterior. The home is located in a desirable neighborhood with no immediate rear neighbors. The home has a good curb appeal and is ready for a new owner to customize their selections and add upgrades.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Updating the flooring in the bathrooms — Modern flooring can improve the look and feel of the bathrooms.
• Both Upgrading the kitchen appliances — Newer appliances can increase the home's value and appeal to potential buyers/renters.
• Both Adding smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers/renters.
• Both Landscaping the front yard — A well-maintained front yard can enhance curb appeal and attract potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring in the bathrooms — Modern flooring can improve the look and feel of the bathrooms. ↑
• Both Upgrading the kitchen appliances — Newer appliances can increase the home's value and appeal to potential buyers/renters. ↑
• Both Adding smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers/renters. ↑
• Both Landscaping the front yard — A well-maintained front yard can enhance curb appeal and attract potential buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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