1453 York St Unit YO1453 · Greenwood, IN 46143

$49,900

3 bd · 2.0 ba · 1,064 sqft · Manufactured · 16 Days on market

Built 2026 Good condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks

* THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 2 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as community events, a clubhouse, and a playground, your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2026
• Listed 16 days

Property features AI

Finance

• Financial info: List price $49,900

Exterior

• Home design: Spec inventory new construction (Plan 93587); Address: 1453 York St Unit YO1453, Greenwood, IN 46143

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Living area approximately 1,064

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 32.1% vs local median 4.5% in Greenwood — 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 73/100 on livability (#91 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Greenwood Community School Corporation (suburban): math 41% / reading 52% proficiency, ranked #88 of 301 in IN (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.9%/yr); 79 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,133 units permitted in Johnson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Johnson County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.

Recommended offer $49,151 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 3.60% ✓
• Cap rate: 32.14%
• Cash-on-cash: 92.32%
• DSCR: 5.11
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.95% rent growth · sell at horizon

5-year hold

• IRR: 91.9%
• Equity multiple: 5.19×
• Total profit: $58,527
• Equity at exit: $7,440

10-year hold

• IRR: 94.6%
• Equity multiple: 10.42×
• Total profit: $131,685
• Equity at exit: $4,314

Cash invested: $13,972 (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 46143

• Rents YoY: 1.9%
• Active inventory: 79
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,797 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $1,075

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 35%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1570 Countryside Dr Greenwood, IN	1.0–3.0	1.0–2.5	946	$1,740	$1.84	20d	1	0.10mi
1285 Kenwood Dr Greenwood, IN	3.0	2.5	1470	$1,755	$1.19	24d	1	0.25mi
1335 Millridge Dr Greenwood, IN	3.0	2.0	1119	$1,715	$1.53	4d	1	0.31mi
1225 Freemont Ln Greenwood, IN	3.0	2.5	1304	$1,750	$1.34	11d	1	0.36mi
902 Wallington Cir Greenwood, IN	1.0–3.0	1.0–1.5	899	$1,673	$1.86	2d	21	0.52mi
1284 Edgewater Dr Greenwood, IN	3.0	2.5	1304	$1,781	$1.37	24d	1	0.52mi
1748 Long Lake Dr Greenwood, IN	3.0	2.0	1431	$1,809	$1.26	15d	1	0.62mi
651 Day Break Dr Greenwood, IN	3.0	2.0	1100	$1,799	$1.64	8d	1	0.75mi
20 Village Crossing Dr S Greenwood, IN	2.0–4.0	2.0	1103	$1,628	$1.48	2d	10	0.88mi
757 Cypress S Greenwood, IN	3.0	2.0	1474	$1,900	$1.29	44d	1	1.02mi
501 E Main St Greenwood, IN	2.0	1.0	968	$1,395	$1.44	44d	1	1.31mi
714 Connors Dr Greenwood, IN	1.0–2.0	1.0	750	$1,254	$1.67	2d	15	1.39mi
610 Paradise Ct Greenwood, IN	1.0–2.0	1.0–2.5	868	$1,699	$1.96	2d	26	1.49mi

Listing history 11 events

1. 2026-06-18
   days on market $49,900 Active 16 DOM
2. 2026-06-17
   days on market $49,900 Active 15 DOM
3. 2026-06-16
   days on market $49,900 Active 14 DOM
4. 2026-06-15
   days on market $49,900 Active 13 DOM
5. 2026-06-13
   days on market $49,900 Active 11 DOM
6. 2026-06-13
   days on market $49,900 Active 10 DOM
7. 2026-06-09
   days on market $49,900 Active 7 DOM
8. 2026-06-08
   days on market $49,900 Active 6 DOM
9. 2026-06-07
   days on market $49,900 Active 5 DOM
10. 2026-06-02
    remarks 506-char remark
11. 2026-06-02
    listed $49,900 Active 1 DOM

ⓘ 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: $21,567
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,725
• − Management: −$1,725
• − Depreciation: −$1,452
• Taxable income: $12,871
• Est. tax owed @ 24.0%: −$3,089
• After-tax cash flow: $9,810/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 · 11 photos

Good 80/100 Cosmetic rehab

This well-maintained 3-bedroom, 2-bathroom home is ready for move-in. It features new kitchen and bathroom fixtures, new flooring, and a fresh paint job. Minor exterior painting and landscaping improvements would further enhance its curb appeal and value.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value.
• Both Landscaping improvements — Enhances curb appeal and value.
• Both New outdoor lighting — Enhances curb appeal and safety.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value. ↑
• Both Landscaping improvements — Enhances curb appeal and value. ↑
• Both New outdoor lighting — Enhances curb appeal and safety. ↑

ⓘ 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: Greenwood Community School Corporation
• NCES district ID: 1804110
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 52% ▼ -7.00%
• Median HH income: $48,589
• Composite: 39.71/100
• National rank: #3902
• State rank: #88 of 301 in IN

Livability — Greenwood

• Score: 73/100
• State rank: #91
• US rank: #5255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenwood, IN
• County: Johnson County · 154,261 people
• City population: 96,151
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 61,803
• Household income: $91,496
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1513.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 170,080 people
• By 2030: 179,983 · +5.8%
• By 2040: 198,580 · +16.8%
• By 2050: 214,661 · +26.2%
• By 2075: 247,990 · +45.8%
• By 2100: 257,821 · +51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Asian 8% Black 5% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 88% English-only · Other Indo-European 6% Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+34.3) · D 32.0% · R 66.3% · Other 1.7%
• 2008→2024 swing: -8.9pp toward R · 2008: -25.5pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+34.1 2016: R+42.5 2012: R+38.5 2008: R+25.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.72%
• Current HPI: 204.3161
• Rent YoY: ▲ 1.95%
• 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