3921 N 200 W · Greenfield, IN 46140

$140,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 66 Days on market

Built 1958 0.43 ac lot

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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 +23.6/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2 Bedroom Home in Mohawk! - Nearly Half an Acre & No HOA Enjoy affordable country living in this 2 bed, 1 bath home set on almost a half-acre in peaceful Mohawk. This property features new vinyl plank flooring, a spacious 2car garage, and plenty of outdoor space for gardening, pets, or relaxing evenings. You'll appreciate the freedom and flexibility to make the space your own. Whether you're a first-time buyer, or looking for a quiet rural setting, this home offers comfort, value, and room to grow. A great opportunity to enjoy country living at an affordable price.

Key facts

• 0.43 acre lot
• 2 garage spots
• Built 1958

Property features AI

Finance

• HOA & community: Not a low-maintenance community

Exterior

• Parking: Attached 2-car garage (approximately 575 sq ft)
• Utilities: Well water (private); Private sewer / septic system; Electricity connected
• Home design: Single-family residence; One level
• Construction: Slab foundation; Other construction materials
• Exterior features: No fence; Approximately 0.43-acre lot (about 1/4–1/2 acre)

Interior

• Kitchen: Kitchen (8x8); No built-in appliances listed
• Bedrooms: Two main-level bedrooms (one 11x10); primary bedroom details: see remarks
• Bathrooms: One full bathroom with tub and shower
• Heating & cooling: Oil heating; Window air conditioning units
• Interior features: Open living and dining areas (living room 14x16, dining room 14x8); Laundry room (6x4); Additional main-level room 19x11
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (0.1% below list).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.4% in Greenfield — 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 (#88 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F.
• Greenfield-Central Community Schools (other): math 47% / reading 45% proficiency, ranked #83 of 301 in IN (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eden Elementary School (math 84% / reading 54%, grade A-, #40 of 994 statewide, top 5%, 160 students, 24% FRL); Greenfield-Central High School (math 37% / reading 65%, grade D+, #115 of 369 statewide, top 31%, 1,462 students, 35% FRL) — zoned schools at 30% FRL track the district average.
• Zoned-school proficiency averages 60% at this address vs 46% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Greenfield-Central Community Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.9%/yr); 481 active listings in the ZIP; solid renter incomes; 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $65k; list at $140k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.00% ✗
• Cap rate: 8.56%
• Cash-on-cash: 8.10%
• DSCR: 1.36
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-6,066
• Equity at exit: $20,874

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $15,487
• Equity at exit: $12,105

Cash invested: $39,200 (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 46140

• Rents YoY: 2.9%
• Active inventory: 481
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,398 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$48 /mo · $571/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $264

Break-even live

Break-even rent $1,063

Max offer price $140,000

Occupancy floor 76%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $140,000 Active 66 DOM
2. 2026-06-17
   days on market $140,000 Active 65 DOM
3. 2026-06-16
   days on market $140,000 Active 64 DOM
4. 2026-06-15
   days on market $140,000 Active 63 DOM
5. 2026-06-13
   days on market $140,000 Active 61 DOM
6. 2026-06-13
   days on market $140,000 Active 60 DOM
7. 2026-06-09
   days on market $140,000 Active 57 DOM
8. 2026-06-08
   days on market $140,000 Active 56 DOM
9. 2026-06-07
   days on market $140,000 Active 55 DOM
10. 2026-06-05
    days on market $140,000 Active 52 DOM
11. 2026-06-03
    days on market $140,000 Active 51 DOM
12. 2026-06-02
    days on market $140,000 Active 50 DOM
13. 2026-06-01
    days on market $140,000 Active 49 DOM
14. 2026-05-31
    days on market $140,000 Active 48 DOM
15. 2026-05-19
    status Active
16. 2026-05-09
    status Pending
17. 2026-04-01
    listed $140,000 Active
18. 2017-02-22
    soldstatus $65,000
19. 2003-05-21
    soldstatus $40,000

ⓘ 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: $571 · $48/mo
• Projected year-2 tax: $881 · $73/mo
• Expected delta: +$309/yr (+$26/mo · 54.1%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,779
• − Mortgage interest: −$7,842
• − Property taxes: −$571
• − Insurance: −$700
• − Repairs & maintenance: −$1,342
• − Management: −$1,342
• − Depreciation: −$4,073
• Taxable income: $908
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $2,956/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: Greenfield-Central Community Schools
• NCES district ID: 1804050
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $55,533
• Composite: 40.01/100
• National rank: #3827
• State rank: #83 of 301 in IN

Livability — Greenfield

• Score: 73/100
• State rank: #88
• US rank: #5094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hancock County · 59,521 people
• City population: 43,511
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 43,511
• Household income: $83,056
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 795.0

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.67%
• Current HPI: 225.0367
• Rent YoY: ▲ 2.88%
• 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

+250.0% since first listed

5 events — show timeline

• 2026-05-19 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-09 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-01 Listed $140,000 MIBOR as Distributed by MLS Grid
• 2017-02-22 Sold (Public Records) $65,000 Public Records
• 2003-05-21 Sold (Public Records) $40,000 Public Records

Property tax history

-6.2%/yr

Latest (2025): $571 · -4.7% YoY. Source: county tax records.