1130 Salisbury Dr · Greenfield, IN 46140

$310,990

5 bd · 3.0 ba · 2,541 sqft · SingleFamily · 88 Days on market

Built 2026 Good condition Est $340k · 9% 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 +11.4/15.0
• Cash flow +10.8/30.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Rent growth +3.2/5.0
• DSCR +3.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Ready for a fall move-in awaiting your personal finishes. Welcome to the Hazel at Brandywine Fields, the only builder in Greenfield that includes all new home necessities at no extra upgrade costs. The Hazel is a spacious and flexible two-story single-family home designed to accommodate modern living with room to grow. Enjoy the convenience of a first floor guest suite and flex room that is perfect for an office or play area. Everyone has room to spread out with 5 bedrooms, 3 full bathrooms and a 2nd floor loft. No need to pay for costly renovations, upgrades like luxury vinyl plank flooring, dual vanities, and all appliances - even the washer and dryer - are included. Visit today to learn

Key facts

• Dual vanities
• Flex room
• 2 parking spots

Tags

• FIRST FLOOR GUEST SUITE
• FLEX ROOM
• LUXURY VINYL PLANK FLOORING
• DUAL VANITIES
• OVERSIZED FEATURED HOMESITE

Property features AI

Finance

• Financial info: List price $310,990

Exterior

• Parking: 2 parking spaces
• Utilities: Central air (cooling)
• Home design: Spec inventory — Hazel plan
• Exterior features: Property located at 1130 Salisbury Dr, Greenfield, IN 46140

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 bathrooms
• Heating & cooling: Central air
• Interior features: Central air conditioning

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $311k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-143 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $290k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $254k (18.3% below list).
• Recommended offer: $254k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.4% in Greenfield — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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+, schools B; 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.
• Market conditions: Rents rising (+2.9%/yr); 481 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 88 days — a 6% lower offer ($292k) is reasonable based on typical stale-listing flexibility.

Recommended offer $253,990 (18.3% 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 88 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
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. 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?
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 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: 0.82% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.97%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $340,494
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1380 King Maple Dr	0.22mi	5/2.5	2,620 (+3%)	2mo	$275,000	$105	81
1156 Brockton Ct	0.23mi	4/2.5 (-1)	2,500 (-2%)	8mo	$329,999	$132	73
1738 Bayberry Dr	0.09mi	4/2.5 (-1)	2,203 (-13%)	9mo	$297,255	$135	59
2412 Fir Dr	0.74mi	5/3.0	2,422 (-5%)	1mo	$327,937	$135	57
1636 Hemlock Cir	0.73mi	5/3.0	2,427 (-4%)	4mo	$335,000	$138	55
2314 Fir Dr	0.70mi	5/3.0	2,422 (-5%)	6mo	$325,000	$134	55
2218 Boxwood Dr	0.66mi	5/3.0	2,736 (+8%)	6mo	$362,000	$132	52
2256 Hemlock Cir	0.68mi	5/3.0	2,736 (+8%)	5mo	$349,000	$128	51
1713 Hemlock Cir	0.74mi	5/3.0	2,422 (-5%)	8mo	$345,000	$142	51
1624 Hemlock Cir	0.73mi	5/3.0	2,736 (+8%)	3mo	$340,000	$124	51
2331 Fir Dr	0.74mi	5/3.0	2,736 (+8%)	3mo	$356,740	$130	50
1513 Sherwood Dr	0.61mi	4/2.5 (-1)	2,281 (-10%)	6mo	$352,000	$154	42

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.31×
• Total profit: $-59,748
• Equity at exit: $46,370

10-year hold

• IRR: -12.7%
• Equity multiple: 0.26×
• Total profit: $-64,825
• Equity at exit: $26,889

Cash invested: $87,077 (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: 10.2×

Monthly cashflow live

• Estimated rent: $2,540 medium
• Mortgage (P&I): −$1,631
• Tax est. 1.5%: −$389 /mo · $4,665/yr
• Insurance: −$130
• HOA: −$0
• Vacancy / Maint / Mgmt: −$533
• Net cashflow: $-143

Break-even live

Break-even rent $2,720

Max offer price $290,347

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: $77,748
• Closing costs: $9,330
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1079 King Maple Dr Greenfield, IN	4.0	2.5	3518	$2,501	$0.71	7d	1	0.09mi
1730 Cascades Dr Greenfield, IN	5.0	3.0	2540	$2,595	$1.02	23d	1	0.21mi
1854 Cascades Dr Greenfield, IN	4.0	3.0	2200	$2,095	$0.95	4d	1	0.33mi

Listing history 14 events

1. 2026-06-18
   days on market $310,990 Active 88 DOM
2. 2026-06-17
   days on market $310,990 Active 87 DOM
3. 2026-06-16
   days on market $310,990 Active 86 DOM
4. 2026-06-15
   days on market $310,990 Active 85 DOM
5. 2026-06-13
   days on market $310,990 Active 83 DOM
6. 2026-06-13
   days on market $310,990 Active 82 DOM
7. 2026-06-09
   days on market $310,990 Active 79 DOM
8. 2026-06-08
   days on market $310,990 Active 78 DOM
9. 2026-06-07
   days on market $310,990 Active 77 DOM
10. 2026-06-05
    days on market $310,990 Active 74 DOM
11. 2026-06-03
    days on market $310,990 Active 73 DOM
12. 2026-06-02
    days on market $310,990 Active 72 DOM
13. 2026-06-01
    days on market $310,990 Active 71 DOM
14. 2026-05-31
    days on market $310,990 Active 70 DOM

ⓘ 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 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: $30,479
• − Mortgage interest: −$17,420
• − Property taxes: −$4,665
• − Insurance: −$1,555
• − Repairs & maintenance: −$2,438
• − Management: −$2,438
• − Depreciation: −$9,047
• Taxable loss: −$7,085
• Est. tax savings @ 24.0%: +$1,700
• After-tax cash flow: $-12/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 · 12 photos

Good 80/100 None rehab

This home is move-in ready with modern finishes and no visible repairs needed. It offers a good investment opportunity with potential for minor updates to enhance its resale and rental value.

Value-add opportunities

• Resale Paint interior walls — Neutral paint can be updated to match buyer's preference
• Resale Replace kitchen faucet — Modern faucet can be replaced with a more stylish one
• Both Install smart home devices — Smart home devices can improve convenience and energy efficiency
• Both Add smart thermostat — Smart thermostat can improve energy efficiency and comfort
• Both Add smart lighting — Smart lighting can improve energy efficiency and ambiance

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint interior walls — Neutral paint can be updated to match buyer's preference ↑
• Resale Replace kitchen faucet — Modern faucet can be replaced with a more stylish one ↑
• Both Install smart home devices — Smart home devices can improve convenience and energy efficiency ↑
• Both Add smart thermostat — Smart thermostat can improve energy efficiency and comfort ↑
• Both Add smart lighting — Smart lighting can improve energy efficiency and ambiance ↑

ⓘ 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: 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

• Census place: Greenfield, IN
• 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