5115 Gibbs Rd · Avon, IN 46168

$275,000

3 bd · 2.0 ba · 1,232 sqft · SingleFamily public records · 6 Days on market

Built 1969 0.73 ac lot $223/sqft · 13% below area Est $314k · 13% 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 +13.1/15.0
• Cash flow +9.2/30.0
• Schools +4.7/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy country living, but not too far from shopping? This is the one! Enjoy the country setting on .73 acres and be downtown Plainfield within only 5 minutes. Great starter or rightsizing home that has been well loved and cared for. Offering 3 bedrooms, 2 full baths, 1,232 sq ft, brick ranch. Move-in ready with gorgeous hardwood flooring, newer remodeled bath with tile, and a breakfast room with sliding glass door to back patio for grilling and outside entertaining convenience. Back yard is partially fenced for the little ones and / or your fur babies.

Key facts

• Private backyard
• Natural light
• No hoa

Tags

• PEACEFUL COUNTRY SETTING
• NO HOA
• PRIVATE BACKYARD
• NEW STAINLESS STEEL APPLIANCES
• BEAUTIFUL HARDWOOD FLOORS
• NATURAL LIGHT

Property features AI

Exterior

• Parking: Attached garage (1 car, 336 sq ft)
• Utilities: Private water source; Septic system
• Home design: Single-family residence; One level
• Construction: Brick construction; Crawl space foundation
• Exterior features: Covered patio; Patio; Mini barn; Exterior storage; Partial fencing; Yard with mature trees

Interior

• Kitchen: Dishwasher; Electric oven; Microwave with hood; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (propane); Central air conditioning
• Interior features: Hardwood floors; Water softener (owned)
• Laundry & utility: Water softener (owned)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-208 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (29.0% below list).
• Recommended offer: $195k (29.0% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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.
• Zoned schools: Avon High School (math 44% / reading 76%, grade C+, #46 of 369 statewide, top 13%, 3,348 students, 38% FRL) — zoned schools average 38% FRL vs 20% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 284 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $8k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 25y 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.

Recommended offer $195,329 (29.0% 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. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.71% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.24%
• DSCR: 0.86
• GRM: 11.7

CMA / ARV

• ARV (median comp): $314,382
• List price: $275,000
• Delta: -12.53%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5115 Gibbs Rd	0.00mi	3/2.0	1,232 (0%)	0mo	$270,000	$219	100

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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: -21.1%
• Equity multiple: 0.27×
• Total profit: $-56,573
• Equity at exit: $41,003

10-year hold

• IRR: -13.3%
• Equity multiple: 0.21×
• Total profit: $-61,212
• Equity at exit: $23,777

Cash invested: $77,000 (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 46168

• Rents YoY: 3.6%
• Active inventory: 284
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,953 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$194 /mo · $2,330/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $-208

Break-even live

Break-even rent $2,216

Max offer price $238,292

Occupancy floor —

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4487 Connaught East Dr Plainfield, IN	3.0	2.5	1352	$1,905	$1.41	2d	1	1.31mi
4518 Redcliff South Ln Plainfield, IN	3.0	2.5	1423	$1,769	$1.24	2d	1	1.39mi
4525 Connaught East Dr Plainfield, IN	3.0	2.5	1470	$1,919	$1.31	2d	1	1.39mi

Listing history 10 events

1. 2026-05-03
   status Pending 1010-char remark
2. 2026-04-27
   listed $275,000 Active 1010-char remark
3. 2023-01-26
   soldstatus $237,900 Closed 564-char remark

   Show marketing remark (564 chars)

   Enjoy country living, but not too far from shopping? This is the one! Enjoy the country setting on .73 acres and be downtown Plainfield within only 5 minutes. Great starter or rightsizing home that has been well loved and cared for. Offering 3 bedrooms, 2 full baths, 1,232 sq ft, brick ranch. Move-in ready with gorgeous hardwood flooring, newer remodeled bath with tile, and a breakfast room with sliding glass door to back patio for grilling and outside entertaining convenience. Back yard is partially fenced for the little ones and / or your fur babies.

4. 2023-01-24
   status Pending 564-char remark

   Show marketing remark (564 chars)

   Enjoy country living, but not too far from shopping? This is the one! Enjoy the country setting on .73 acres and be downtown Plainfield within only 5 minutes. Great starter or rightsizing home that has been well loved and cared for. Offering 3 bedrooms, 2 full baths, 1,232 sq ft, brick ranch. Move-in ready with gorgeous hardwood flooring, newer remodeled bath with tile, and a breakfast room with sliding glass door to back patio for grilling and outside entertaining convenience. Back yard is partially fenced for the little ones and / or your fur babies.

5. 2023-01-24
   listed $234,900 Active 564-char remark

   Show marketing remark (564 chars)

   Enjoy country living, but not too far from shopping? This is the one! Enjoy the country setting on .73 acres and be downtown Plainfield within only 5 minutes. Great starter or rightsizing home that has been well loved and cared for. Offering 3 bedrooms, 2 full baths, 1,232 sq ft, brick ranch. Move-in ready with gorgeous hardwood flooring, newer remodeled bath with tile, and a breakfast room with sliding glass door to back patio for grilling and outside entertaining convenience. Back yard is partially fenced for the little ones and / or your fur babies.

6. 2023-01-10
   soldstatus $237,900 Closed 564-char remark

   Show marketing remark (564 chars)

   Enjoy country living, but not too far from shopping? This is the one! Enjoy the country setting on .73 acres and be downtown Plainfield within only 5 minutes. Great starter or rightsizing home that has been well loved and cared for. Offering 3 bedrooms, 2 full baths, 1,232 sq ft, brick ranch. Move-in ready with gorgeous hardwood flooring, newer remodeled bath with tile, and a breakfast room with sliding glass door to back patio for grilling and outside entertaining convenience. Back yard is partially fenced for the little ones and / or your fur babies.

7. 2022-12-14
   status Pending 564-char remark

   Show marketing remark (564 chars)

   Enjoy country living, but not too far from shopping? This is the one! Enjoy the country setting on .73 acres and be downtown Plainfield within only 5 minutes. Great starter or rightsizing home that has been well loved and cared for. Offering 3 bedrooms, 2 full baths, 1,232 sq ft, brick ranch. Move-in ready with gorgeous hardwood flooring, newer remodeled bath with tile, and a breakfast room with sliding glass door to back patio for grilling and outside entertaining convenience. Back yard is partially fenced for the little ones and / or your fur babies.

8. 2022-11-14
   listed $234,900 Active 564-char remark

   Show marketing remark (564 chars)

   Enjoy country living, but not too far from shopping? This is the one! Enjoy the country setting on .73 acres and be downtown Plainfield within only 5 minutes. Great starter or rightsizing home that has been well loved and cared for. Offering 3 bedrooms, 2 full baths, 1,232 sq ft, brick ranch. Move-in ready with gorgeous hardwood flooring, newer remodeled bath with tile, and a breakfast room with sliding glass door to back patio for grilling and outside entertaining convenience. Back yard is partially fenced for the little ones and / or your fur babies.

9. 2001-09-13
   soldstatus $99,900

   Show marketing remark (363 chars)

   ESCAPE TO PEACEFUL COUNTRY LIVING. THIS THREE BEDROOM TWO BATH BRICK RANCH IS LOCATED IN THE COUNTRY, YET MINUTES FROM US 36 AND US 40. WELL MAINTAINED, YOU WILL LOVE THE PLUSH BEIGE CARPET IN THE LIVING ROOM, AND UPDA TED KITCHEN WITH BREAKFAST BAR. HARDWOOD FLOORS AND SPACIOUS BEDRMS CALL NOW,SEE IT TODAY!******ALL OFFERS ARE SUBJECT TO BANK APPROVAL********

10. 2001-01-19
    listed $104,900

    Show marketing remark (363 chars)

    ESCAPE TO PEACEFUL COUNTRY LIVING. THIS THREE BEDROOM TWO BATH BRICK RANCH IS LOCATED IN THE COUNTRY, YET MINUTES FROM US 36 AND US 40. WELL MAINTAINED, YOU WILL LOVE THE PLUSH BEIGE CARPET IN THE LIVING ROOM, AND UPDA TED KITCHEN WITH BREAKFAST BAR. HARDWOOD FLOORS AND SPACIOUS BEDRMS CALL NOW,SEE IT TODAY!******ALL OFFERS ARE SUBJECT TO BANK APPROVAL********

ⓘ 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: $2,330 · $194/mo
• Projected year-2 tax: $2,334 · $194/mo
• Expected delta: +$4/yr ($0/mo · 0.2%)

ⓘ 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 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: $23,439
• − Mortgage interest: −$15,404
• − Property taxes: −$2,330
• − Insurance: −$1,375
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − Depreciation: −$8,000
• Taxable loss: −$7,420
• Est. tax savings @ 24.0%: +$1,781
• After-tax cash flow: $-713/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

• Census place: Avon, IN
• County: Hendricks County · 143,373 people
• City population: 43,353
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 38,826
• Household income: $90,000
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1029.0

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 (76%)
• Race & ethnicity: White 76% Black 9% Two or more races 8% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Lithuanian 1% Romanian 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -136.23%
• Current HPI: 205.5963
• Rent YoY: ▲ 3.65%
• 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

+157.4% since first listed

11 events — show timeline

• 2026-06-12 Sold (MLS) $270,000 MIBOR as Distributed by MLS Grid
• 2026-05-03 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-27 Listed $275,000 MIBOR as Distributed by MLS Grid
• 2023-01-26 Sold (MLS) $237,900 MIBOR as Distributed by MLS Grid
• 2023-01-24 Pending — MIBOR as Distributed by MLS Grid
• 2023-01-24 Listed $234,900 MIBOR as Distributed by MLS Grid
• 2023-01-10 Sold (MLS) $237,900 MIBOR as Distributed by MLS Grid
• 2022-12-14 Pending — MIBOR as Distributed by MLS Grid
• 2022-11-14 Listed $234,900 MIBOR as Distributed by MLS Grid
• 2001-09-13 Sold (MLS) $99,900 MIBOR as Distributed by MLS Grid
• 2001-01-19 Listed $104,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2025): $2,330 · +14.1% YoY. Source: county tax records.