Vienna Plan · Westfield, IN 46074

$379,990

3 bd · 2.0 ba · 2,148 sqft · MultiFamily · 312 Days on market

Poor condition ↓ 5% since listing

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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 +5.5/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

The Vienna two-story villa blends comfort and style with soaring vaulted ceilings in the great room for a bright, open atmosphere. A main-floor primary suite adds everyday ease, while the oversized loft upstairs offers space for hobbies, game nights, or quiet retreat. An optional extra bedroom allows you to personalize the home to suit guests, lifestyle needs, or future flexibility.

Key facts

• 2 garage spots
• Listed 312 days

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $380k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $380k).
• Recommended offer: $334k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 3.0% in Westfield — 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 71/100 on livability (#140 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Westfield-Washington Schools (suburban): math 58% / reading 64% proficiency, ranked #10 of 301 in IN (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.3%/yr); 809 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 4,661 units permitted in Hamilton County in 2024 (1,528 in 5+ unit buildings).
• At $6,673/mo this rent would consume 63% of the median local household income ($127k/yr) (locally 742% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Hamilton County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $106k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 312 days — a 12% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $334,391 (12.0% below list)

Questions for the listing agent

1. It's been on market 312 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.76% ✓
• Cap rate: 14.65%
• Cash-on-cash: 29.84%
• DSCR: 2.33
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.26% rent growth · sell at horizon

5-year hold

• IRR: 25.8%
• Equity multiple: 2.09×
• Total profit: $115,594
• Equity at exit: $56,658

10-year hold

• IRR: 34.3%
• Equity multiple: 4.33×
• Total profit: $354,104
• Equity at exit: $32,855

Cash invested: $106,397 (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 46074

• Rents YoY: 4.3%
• Active inventory: 809
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $6,673 medium
• Mortgage (P&I): −$1,993
• Tax est. 1.5%: −$475 /mo · $5,700/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,401
• Net cashflow: $2,646

Break-even live

Break-even rent $3,324

Max offer price $379,990

Occupancy floor 55%

Sensitivity live

Price	-10% $2,908	-5% $2,777	+0% $2,646	+5% $2,514	+10% $2,383
Rent	-10% $2,118	-5% $2,382	+0% $2,646	+5% $2,909	+10% $3,173
Rate	-1.0pp $2,837	-0.5pp $2,742	base $2,646	+0.5pp $2,547	+1.0pp $2,447

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	2	$2,224
▸ 2× units	2	1	$4,448
Total (3 units)			$6,673

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: $94,998
• Closing costs: $11,400
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
717 Crispin Ln Westfield, IN	3.0	2.0	1613	$2,400	$1.49	45d	1	0.96mi
19319 Winter Wheat Ln Westfield, IN	3.0	2.5	1858	$2,395	$1.29	25d	1	1.06mi
17361 Graley Pl Westfield, IN	3.0	2.5	1512	$2,500	$1.65	9d	1	1.12mi
404 E Pine Ridge Dr Westfield, IN	3.0	2.5	1726	$3,250	$1.88	45d	1	1.15mi
17330 Graley Pl Westfield, IN	3.0	3.0	2383	$3,500	$1.47	45d	1	1.19mi
459 Vernon Pl Westfield, IN	4.0	2.5	1968	$3,750	$1.91	45d	1	1.33mi
218 W Main St Westfield, IN	4.0	2.5	1872	$2,495	$1.33	45d	1	1.48mi

Listing history 26 events

1. 2026-06-21
   days on market $379,990 Active 312 DOM
2. 2026-06-18
   days on market $379,990 Active 309 DOM
3. 2026-06-17
   days on market $379,990 Active 308 DOM
4. 2026-06-16
   days on market $379,990 Active 307 DOM
5. 2026-06-15
   days on market $379,990 Active 306 DOM
6. 2026-06-13
   days on market $379,990 Active 304 DOM
7. 2026-06-13
   days on market $379,990 Active 303 DOM
8. 2026-06-09
   days on market $379,990 Active 300 DOM
9. 2026-06-08
   days on market $379,990 Active 299 DOM
10. 2026-06-07
    days on market $379,990 Active 298 DOM
11. 2026-06-05
    days on market $379,990 Active 295 DOM
12. 2026-06-03
    days on market $379,990 Active 294 DOM
13. 2026-06-02
    days on market $379,990 Active 293 DOM
14. 2026-06-01
    days on market $379,990 Active 292 DOM
15. 2026-05-31
    days on market $379,990 Active 291 DOM
16. 2026-05-02
    price $379,990 385-char remark

    Show marketing remark (385 chars)

    The Vienna two-story villa blends comfort and style with soaring vaulted ceilings in the great room for a bright, open atmosphere. A main-floor primary suite adds everyday ease, while the oversized loft upstairs offers space for hobbies, game nights, or quiet retreat. An optional extra bedroom allows you to personalize the home to suit guests, lifestyle needs, or future flexibility.

17. 2026-03-04
    price $384,990 385-char remark

    Show marketing remark (385 chars)

    The Vienna two-story villa blends comfort and style with soaring vaulted ceilings in the great room for a bright, open atmosphere. A main-floor primary suite adds everyday ease, while the oversized loft upstairs offers space for hobbies, game nights, or quiet retreat. An optional extra bedroom allows you to personalize the home to suit guests, lifestyle needs, or future flexibility.

18. 2026-03-02
    price $407,990 385-char remark

    Show marketing remark (385 chars)

    The Vienna two-story villa blends comfort and style with soaring vaulted ceilings in the great room for a bright, open atmosphere. A main-floor primary suite adds everyday ease, while the oversized loft upstairs offers space for hobbies, game nights, or quiet retreat. An optional extra bedroom allows you to personalize the home to suit guests, lifestyle needs, or future flexibility.

19. 2026-02-03
    price $404,990 385-char remark

    Show marketing remark (385 chars)

    The Vienna two-story villa blends comfort and style with soaring vaulted ceilings in the great room for a bright, open atmosphere. A main-floor primary suite adds everyday ease, while the oversized loft upstairs offers space for hobbies, game nights, or quiet retreat. An optional extra bedroom allows you to personalize the home to suit guests, lifestyle needs, or future flexibility.

20. 2026-01-02
    price $403,990 385-char remark

    Show marketing remark (385 chars)

    The Vienna two-story villa blends comfort and style with soaring vaulted ceilings in the great room for a bright, open atmosphere. A main-floor primary suite adds everyday ease, while the oversized loft upstairs offers space for hobbies, game nights, or quiet retreat. An optional extra bedroom allows you to personalize the home to suit guests, lifestyle needs, or future flexibility.

21. 2025-12-10
    price $402,990 385-char remark

    Show marketing remark (385 chars)

    The Vienna two-story villa blends comfort and style with soaring vaulted ceilings in the great room for a bright, open atmosphere. A main-floor primary suite adds everyday ease, while the oversized loft upstairs offers space for hobbies, game nights, or quiet retreat. An optional extra bedroom allows you to personalize the home to suit guests, lifestyle needs, or future flexibility.

22. 2025-12-03
    status Active 385-char remark

    Show marketing remark (385 chars)

    The Vienna two-story villa blends comfort and style with soaring vaulted ceilings in the great room for a bright, open atmosphere. A main-floor primary suite adds everyday ease, while the oversized loft upstairs offers space for hobbies, game nights, or quiet retreat. An optional extra bedroom allows you to personalize the home to suit guests, lifestyle needs, or future flexibility.

23. 2025-12-02
    historical 385-char remark

    Show marketing remark (385 chars)

    The Vienna two-story villa blends comfort and style with soaring vaulted ceilings in the great room for a bright, open atmosphere. A main-floor primary suite adds everyday ease, while the oversized loft upstairs offers space for hobbies, game nights, or quiet retreat. An optional extra bedroom allows you to personalize the home to suit guests, lifestyle needs, or future flexibility.

24. 2025-12-02
    status Active 385-char remark

    Show marketing remark (385 chars)

    The Vienna two-story villa blends comfort and style with soaring vaulted ceilings in the great room for a bright, open atmosphere. A main-floor primary suite adds everyday ease, while the oversized loft upstairs offers space for hobbies, game nights, or quiet retreat. An optional extra bedroom allows you to personalize the home to suit guests, lifestyle needs, or future flexibility.

25. 2025-12-02
    historical 385-char remark

    Show marketing remark (385 chars)

    The Vienna two-story villa blends comfort and style with soaring vaulted ceilings in the great room for a bright, open atmosphere. A main-floor primary suite adds everyday ease, while the oversized loft upstairs offers space for hobbies, game nights, or quiet retreat. An optional extra bedroom allows you to personalize the home to suit guests, lifestyle needs, or future flexibility.

26. 2025-08-11
    listed $399,990 Active 385-char remark

    Show marketing remark (385 chars)

    The Vienna two-story villa blends comfort and style with soaring vaulted ceilings in the great room for a bright, open atmosphere. A main-floor primary suite adds everyday ease, while the oversized loft upstairs offers space for hobbies, game nights, or quiet retreat. An optional extra bedroom allows you to personalize the home to suit guests, lifestyle needs, or future flexibility.

ⓘ 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: $80,076
• − Mortgage interest: −$21,285
• − Property taxes: −$5,700
• − Insurance: −$1,900
• − Repairs & maintenance: −$6,406
• − Management: −$6,406
• − Depreciation: −$11,054
• Taxable income: $27,324
• Est. tax owed @ 24.0%: −$6,558
• After-tax cash flow: $25,190/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 · 1 photo

Poor 20/100 Extensive rehab

The property requires extensive repairs and updates across all systems and areas, significantly impacting its current condition and value.

Repairs flagged

• Major Roof — No photos of roof
• Major Exterior siding — No photos of exterior
• Major Windows — No photos of windows
• Major Flooring — No photos of flooring
• Major Interior walls/paint — No photos of interior walls/paint
• Major HVAC/mechanicals — No photos of HVAC/mechanicals
• Major Landscaping/curb appeal — No photos of landscaping/curb appeal

Value-add opportunities

• Both New roof — A new roof would significantly improve the home's appearance and value
• Both Exterior siding and paint — A fresh exterior would enhance curb appeal and value
• Both New windows — New windows would improve energy efficiency and aesthetics
• Both New flooring — New flooring would improve the home's appearance and value
• Both Paint interior walls — Fresh paint would improve the home's appearance and value
• Both HVAC upgrade — An updated HVAC system would improve comfort and energy efficiency
• Both Landscaping and curb appeal — A well-maintained landscape would enhance curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Roof · No photos of roof	Major	$15,000–50,000
Exterior siding · No photos of exterior	Major	$15,000–50,000
Windows · No photos of windows	Major	$15,000–50,000
Flooring · No photos of flooring	Major	$15,000–50,000
Interior walls/paint · No photos of interior walls/paint	Major	$15,000–50,000
HVAC/mechanicals · No photos of HVAC/mechanicals	Major	$15,000–50,000
Landscaping/curb appeal · No photos of landscaping/curb appeal	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both New roof — A new roof would significantly improve the home's appearance and value ↑
• Both Exterior siding and paint — A fresh exterior would enhance curb appeal and value ↑
• Both New windows — New windows would improve energy efficiency and aesthetics ↑
• Both New flooring — New flooring would improve the home's appearance and value ↑
• Both Paint interior walls — Fresh paint would improve the home's appearance and value ↑
• Both HVAC upgrade — An updated HVAC system would improve comfort and energy efficiency ↑
• Both Landscaping and curb appeal — A well-maintained landscape would enhance curb appeal and 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: Westfield-Washington Schools
• NCES district ID: 1813080
• Math proficiency: 58% ▼ -9.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $82,682
• Composite: 55.01/100
• National rank: #1295
• State rank: #10 of 301 in IN

Livability — Westfield

• Score: 71/100
• State rank: #140
• US rank: #7263

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westfield, IN
• County: Hamilton County · 337,479 people
• City population: 48,901
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 48,901
• Household income: $126,724
• Rent vs Own: 18.4% rent · 81.6% own
• Severe rent burden: 742.0

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 381,938 people
• By 2030: 417,496 · +9.3%
• By 2040: 486,684 · +27.4%
• By 2050: 549,805 · +44.0%
• By 2075: 687,078 · +79.9%
• By 2100: 754,495 · +97.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 10% Hispanic / Latino 9% Asian 8% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 4% Italian 4% Lithuanian 2%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 5% Arabic 3% Chinese 2%

Political lean MEDSL · Hamilton

• 2024 margin: Lean R (+6.1) · D 46.0% · R 52.1% · Other 1.9%
• 2008→2024 swing: +16.2pp toward D · 2008: -22.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+6.8 2016: R+19.6 2012: R+34.3 2008: R+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -140.45%
• Current HPI: 220.9413
• Rent YoY: ▲ 4.26%
• 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

-5.0% since first listed

11 events — show timeline

• 2026-05-02 Price Changed $379,990 Zillow
• 2026-03-04 Price Changed $384,990 Zillow
• 2026-03-02 Price Changed $407,990 Zillow
• 2026-02-03 Price Changed $404,990 Zillow
• 2026-01-02 Price Changed $403,990 Zillow
• 2025-12-10 Price Changed $402,990 Zillow
• 2025-12-03 Relisted — Zillow
• 2025-12-02 Delisted — Zillow
• 2025-12-02 Relisted — Zillow
• 2025-12-02 Delisted — Zillow
• 2025-08-11 Listed $399,990 Zillow