Ashford-A (Handicap Adaptable) Plan · Westfield, IN 46074

$153,000

1 bd · 1.0 ba · 950 sqft · Condo · 141 Days on market

Fair condition

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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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Schools +5.5/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home features a handicap-adaptable plan *

Key facts

• Parking
• Listed 141 days

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $153k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $153k).
• Recommended offer: $135k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.0% in Westfield — 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 71/100 on livability (#140 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Westfield-Washington Schools (suburban): math 58% / reading 64% proficiency, ranked #10 of 301 in IN (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.3%/yr); 801 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 4,661 units permitted in Hamilton County in 2024 (1,528 in 5+ unit buildings).
• This rent is only 16% of the median local income ($127k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 141 days — a 12% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Recommended offer $134,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.98%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.26% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-6,763
• Equity at exit: $22,813

10-year hold

• IRR: 6.9%
• Equity multiple: 1.55×
• Total profit: $23,601
• Equity at exit: $13,229

Cash invested: $42,840 (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 46074

• Rents YoY: 4.3%
• Active inventory: 801
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,654 medium
• Mortgage (P&I): −$802
• Tax est. 1.5%: −$191 /mo · $2,295/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $249

Break-even live

Break-even rent $1,338

Max offer price $153,000

Occupancy floor 80%

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: $38,250
• Closing costs: $4,590
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 S Waterleaf Dr Westfield, IN	2.0	2.0	635	$1,697	$2.67	1d	16	0.08mi
14637 Handel Dr Carmel, IN	1.0–3.0	1.0–2.0	1128	$1,377	$1.22	1d	50	1.24mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $153,000 Active 141 DOM
2. 2026-06-17
   days on market $153,000 Active 140 DOM
3. 2026-06-16
   days on market $153,000 Active 139 DOM
4. 2026-06-15
   days on market $153,000 Active 138 DOM
5. 2026-06-13
   days on market $153,000 Active 136 DOM
6. 2026-06-13
   days on market $153,000 Active 135 DOM
7. 2026-06-09
   days on market $153,000 Active 132 DOM
8. 2026-06-08
   days on market $153,000 Active 131 DOM
9. 2026-06-07
   days on market $153,000 Active 130 DOM
10. 2026-06-05
    days on market $153,000 Active 127 DOM
11. 2026-06-03
    days on market $153,000 Active 126 DOM
12. 2026-06-02
    days on market $153,000 Active 125 DOM
13. 2026-06-01
    days on market $153,000 Active 124 DOM
14. 2026-05-31
    days on market $153,000 Active 123 DOM
15. 2026-01-28
    listed $153,000 Active 46-char remark

    Show marketing remark (46 chars)

    This home features a handicap-adaptable plan *

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

Taxation est. · year 1

• Rental income: $19,849
• − Mortgage interest: −$8,570
• − Property taxes: −$2,295
• − Insurance: −$765
• − Repairs & maintenance: −$1,588
• − Management: −$1,588
• − Depreciation: −$4,451
• Taxable income: $592
• Est. tax owed @ 24.0%: −$142
• After-tax cash flow: $2,850/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 · 1 photo

Fair 40/100 Moderate rehab

This handicap-adaptable condo requires significant updates to its interior spaces, including painting, flooring, and kitchen/bathroom renovations, to improve its condition and value.

Repairs flagged

• Major Kitchen — No photos of the kitchen
• Major Bathroom — No photos of the bathroom
• Major Flooring — No photos of the flooring
• Major Interior walls/paint — No photos of the interior walls/paint

Value-add opportunities

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value
• Resale Replace flooring — New flooring can improve the home's appeal and value
• Resale Update kitchen and bathroom — Modernizing these spaces can significantly increase the home's value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen · No photos of the kitchen	Major	$15,000–50,000
Bathroom · No photos of the bathroom	Major	$15,000–50,000
Flooring · No photos of the flooring	Major	$15,000–50,000
Interior walls/paint · No photos of the interior walls/paint	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value ↑
• Resale Replace flooring — New flooring can improve the home's appeal and value ↑
• Resale Update kitchen and bathroom — Modernizing these spaces can significantly increase the home's value ↑

ⓘ 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: Westfield-Washington Schools
• NCES district ID: 1813080
• Math proficiency: 58% ▼ -9.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $82,682
• Composite: 55.01/100
• National rank: #1295
• State rank: #10 of 301 in IN

Livability — Westfield

• Score: 71/100
• State rank: #140
• US rank: #7263

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westfield, IN
• County: Hamilton County · 337,479 people
• City population: 48,901
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 48,901
• Household income: $126,724
• Rent vs Own: 18.4% rent · 81.6% own
• Severe rent burden: 742.0

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 (74%)
• Race & ethnicity: White 74% Two or more races 10% Hispanic / Latino 9% Asian 8% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 4% Italian 4% Lithuanian 2%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 5% Arabic 3% Chinese 2%

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: ▼ -140.45%
• Current HPI: 220.9413
• Rent YoY: ▲ 4.26%
• 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

1 event — show timeline

• 2026-01-28 Listed $153,000 Zillow