Lancia's Addyson Plan · New Haven, IN 46774

$274,300

4 bd · 2.5 ba · 2,264 sqft · SingleFamily · 303 Days on market

Good condition $26/mo HOA · 1% of rent

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Why this score? — see what drove the F 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 +8.2/30.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Addyson has all bedrooms upstairs with a cathedral ceiling in the owner suite bedroom. Laundry upstairs. Kitchen has an island, breakfast bar, walk-in pantry, and 36" lower cabinet space for appliances. Office-Bonus Room off the front door with a single French Door and closet storage. * Base price does not include land

Key facts

• 2 parking spots
• Listed 303 days

🏗️ New construction. The $274,300 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $297,294.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $274k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-279 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (6.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (16.9% below list).
• Recommended offer: $228k (16.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#149 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• East Allen County Schools (suburban): math 36% / reading 47% proficiency, ranked #122 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: New Haven Intermediate School (math 28% / reading 29%, grade F, #727 of 994 statewide, top 73%, 589 students, 64% FRL); New Haven Jr/Sr High School (math 21% / reading 50%, grade F, #263 of 369 statewide, top 72%, 1,494 students, 67% FRL) — zoned schools average 66% FRL vs 43% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 180 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,861 units permitted in Allen County in 2024 (576 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.
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 303 days — a 12% lower offer ($241k) is reasonable based on typical stale-listing flexibility.

Recommended offer $228,067 (16.9% 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 303 days. Have you received any prior offers? Is the seller open to a 17% 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. 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 5.17%
• Cash-on-cash: -4.02%
• DSCR: 0.82
• GRM: 10.9

CMA / ARV

• ARV (median comp): $297,294
• List price: $274,300
• Delta: -7.73%
• 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
3823 Sun Stone Way	0.15mi	4/2.5	1,994 (-12%)	1mo	$290,000	$145	73
3818 Sun Stone Way	0.13mi	3/2.0 (-1)	2,049 (-10%)	3mo	$320,000	$156	68
9915 N Country Knl	0.25mi	4/2.5	1,987 (-12%)	6mo	$200,000	$101	63
3602 Kirklynn Dr	0.42mi	4/2.0	2,092 (-8%)	7mo	$240,000	$115	60
4132 Purdy Dr #304	0.29mi	3/2.0 (-1)	2,035 (-10%)	4mo	$352,423	$173	59
4244 Iron Rock Chase	0.30mi	4/2.5	1,982 (-12%)	9mo	$330,250	$167	58
10305 Woodsong Cv	0.73mi	4/2.5	2,247 (-1%)	8mo	$349,900	$156	57
10348 Silver Rock Chase	0.35mi	4/2.5	1,972 (-13%)	8mo	$316,000	$160	55
10302 Greenwood Lakes Dr	0.58mi	3/2.0 (-1)	2,125 (-6%)	4mo	$285,000	$134	52
3922 Scarborough Dr	0.55mi	3/2.5 (-1)	2,490 (+10%)	1mo	$341,000	$137	52
1305 Berwick Ln	0.54mi	3/1.5 (-1)	2,016 (-11%)	1mo	$239,900	$119	47
10216 Runabay Cv	0.64mi	3/2.5 (-1)	2,044 (-10%)	5mo	$275,000	$135	45

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: -23.0%
• Equity multiple: 0.21×
• Total profit: $-65,881
• Equity at exit: $44,328

10-year hold

• IRR: -17.5%
• Equity multiple: 0.04×
• Total profit: $-80,029
• Equity at exit: $25,705

Cash invested: $83,242 (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 46774

• Active inventory: 180
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,281 medium
• Mortgage (P&I): −$1,559
• Tax est. 1.5%: −$372 /mo · $4,459/yr
• Insurance: −$124
• HOA: −$26
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $-279

Break-even live

Break-even rent $2,634

Max offer price $256,951

Occupancy floor —

Sensitivity live

Price	-10% $-73	-5% $-176	+0% $-279	+5% $-382	+10% $-484
Rent	-10% $-459	-5% $-369	+0% $-279	+5% $-189	+10% $-99
Rate	-1.0pp $-129	-0.5pp $-203	base $-279	+0.5pp $-356	+1.0pp $-434

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: $74,324
• Closing costs: $8,919
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3599 Canal Square Dr New Haven, IN	3.0	2.5	1832	$2,295	$1.25	23d	1	0.16mi
10390 Silver Rock Chase New Haven, IN	4.0	2.5	1767	$2,250	$1.27	45d	1	0.33mi

HOA detail

• Monthly dues: $26 · $312/yr

Listing history 18 events

1. 2026-06-21
   days on market $274,300 Active 303 DOM
2. 2026-06-18
   days on market $274,300 Active 300 DOM
3. 2026-06-17
   days on market $274,300 Active 299 DOM
4. 2026-06-16
   days on market $274,300 Active 298 DOM
5. 2026-06-15
   days on market $274,300 Active 297 DOM
6. 2026-06-14
   days on market $274,300 Active 295 DOM
7. 2026-06-13
   days on market $274,300 Active 294 DOM
8. 2026-06-10
   days on market $274,300 Active 292 DOM
9. 2026-06-09
   days on market $274,300 Active 291 DOM
10. 2026-06-08
    days on market $274,300 Active 290 DOM
11. 2026-06-07
    days on market $274,300 Active 289 DOM
12. 2026-06-03
    days on market $274,300 Active 285 DOM
13. 2026-06-02
    pricedays on market $274,300 Active 284 DOM
14. 2026-06-01
    days on market $269,200 Active 283 DOM
15. 2026-05-31
    days on market $269,200 Active 282 DOM
16. 2026-05-30
    days on market $269,200 Active 281 DOM
17. 2026-02-09
    price $269,200 387-char remark

    Show marketing remark (387 chars)

    THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Addyson has all bedrooms upstairs with a cathedral ceiling in the owner suite bedroom. Laundry upstairs. Kitchen has an island, breakfast bar, walk-in pantry, and 36" lower cabinet space for appliances. Office-Bonus Room off the front door with a single French Door and closet storage. * Base price does not include land

18. 2025-08-22
    listed $267,200 Active 387-char remark

    Show marketing remark (387 chars)

    THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Addyson has all bedrooms upstairs with a cathedral ceiling in the owner suite bedroom. Laundry upstairs. Kitchen has an island, breakfast bar, walk-in pantry, and 36" lower cabinet space for appliances. Office-Bonus Room off the front door with a single French Door and closet storage. * Base price does not include land

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,368
• − Mortgage interest: −$16,653
• − Property taxes: −$4,459
• − Insurance: −$1,486
• − Repairs & maintenance: −$2,189
• − Management: −$2,189
• − HOA: −$312
• − Depreciation: −$8,649
• Taxable loss: −$8,570
• Est. tax savings @ 24.0%: +$2,057
• After-tax cash flow: $-1,289/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 · 13 photos

Good 80/100 Cosmetic rehab

This home is in good condition with modern finishes and a well-maintained exterior. Minor updates to the exterior and interior could significantly enhance its value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet with hardwood flooring — Improves flow and adds value
• Both Install smart home features — Enhances convenience and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood flooring — Improves flow and adds value ↑
• Both Install smart home features — Enhances convenience and adds 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: East Allen County Schools
• NCES district ID: 1802850
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $50,524
• Composite: 35.75/100
• National rank: #4849
• State rank: #122 of 301 in IN

Livability — New Haven

• Score: 70/100
• State rank: #149
• US rank: #7499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Haven, IN
• Population (ZIP): 17,066

Population outlook (Allen County) Hauer SSP2

• Today (2025): 394,020 people
• By 2030: 405,128 · +2.8%
• By 2040: 423,476 · +7.5%
• By 2050: 435,137 · +10.4%
• By 2075: 450,293 · +14.3%
• By 2100: 424,101 · +7.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 4% Black 3% Asian 1%
• Common ancestry: Lithuanian 5% Italian 2% Slovak 1%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 89% English-only · German/W. Germanic 6% Spanish 3% Chinese 1%

Political lean MEDSL · Allen

• 2024 margin: R (+12.5) · D 42.9% · R 55.4% · Other 1.7%
• 2008→2024 swing: -8.1pp toward R · 2008: -4.3pp · 2024: -12.5pp
• All cycles: 2024: R+12.5 2020: R+11.2 2016: R+19.6 2012: R+16.8 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -185.27%
• Current HPI: 241.5333
• Rent YoY: —
• Metro: —
• 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

+0.7% since first listed

2 events — show timeline

• 2026-02-09 Price Changed $269,200 Zillow
• 2025-08-22 Listed $267,200 Zillow