2060 Bouquet Dr

Danville, IN 46122

$292,490D-

3 bd · 2.0 ba · 1,533 sqft · Built 2026 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,011/mo
• Mortgage (P&I): −$1,534
• Tax + insurance: −$487
• HOA: −$0
• Vac / Maint / Mgmt: −$422
• Net cashflow: $-433/mo
• Annual: $-5,195/yr
• Cap rate: 4.52%
• Cash-on-cash: -6.34%
• DSCR: 0.72
• 1% rule: 0.69%
• Cash to close: $81,897

Investor read

• This is a 3-bed/2.0-bath single-family listed at $292k. Condition is rated good.
• 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).
• It's been on market 38 days — a 3% lower offer ($284k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $201k (31.3% below list) — sets the bar for 1% rule.
• 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.
• 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: North Elementary School (650 students, 38% FRL); Danville Middle School (math 53% / reading 58%, grade B-, #24 of 330 statewide, top 7%, 805 students, 34% FRL); Danville Community High School (math 42% / reading 67%, grade C-, #79 of 369 statewide, top 26%, 788 students, 27% FRL).
• 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).
• Hendricks County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• 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?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.