141 N Meridian St · Greenwood, IN 46143

$135,000

2 bd · 1.0 ba · 802 sqft · SingleFamily public records · 1 Days on market

Built 1950 6,534 sqft lot Est $164k · 17% under

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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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.4/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investors look at this one great rental or Great starter Home in greenwood needs TLC To make it your own. won't last long

Key facts

• 6,534 sq ft lot
• Built 1950

Property features AI

Exterior

• Utilities: Public water; Municipal sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Low-maintenance yard; Lot of approximately 0.15 acres

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: 2 bedrooms on the main level (one is 12 x 10)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Living room (13 x 18); Dining room (10 x 10); Kitchen (12 x 14); Laundry room (5 x 6); Additional main-level room (12 x 12)
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Cap rate 7.9% 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.
• Zoned schools: Greenwood Community High Sch (math 37% / reading 79%, grade C, #62 of 369 statewide, top 17%, 1,175 students, 43% FRL).
• Market conditions: Rents rising (+1.9%/yr); 80 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 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 $933 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 7.92%
• Cash-on-cash: 5.80%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $163,608
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
141 N Meridian St	0.00mi	2/1.0	802 (0%)	0mo	$132,000	$165	100
71 E Main St	0.26mi	2/1.0	842 (+5%)	8mo	$172,000	$204	73
200 Noble St	0.24mi	2/1.0	832 (+4%)	14mo	$181,000	$218	71
412 N Meridian St	0.34mi	2/1.0	768 (-4%)	10mo	$200,000	$260	69
151 Water St	0.38mi	2/1.0	832 (+4%)	14mo	$165,815	$199	64
464 Carol Dr	0.20mi	3/1.0 (+1)	888 (+11%)	4mo	$132,000	$149	64
476 Carol Dr	0.26mi	3/1.0 (+1)	888 (+11%)	1mo	$132,000	$149	64
101 Noble St	0.20mi	2/1.0	850 (+6%)	21mo	$185,000	$218	63
504 Carol Dr	0.42mi	3/1.0 (+1)	864 (+8%)	1mo	$155,000	$179	62
108 Hall Ct	0.42mi	3/1.0 (+1)	864 (+8%)	17mo	$202,500	$234	49

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 · 1.95% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.69×
• Total profit: $-11,696
• Equity at exit: $20,129

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-1,035
• Equity at exit: $11,672

Cash invested: $37,800 (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: 80
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,404 high
• Mortgage (P&I): −$708
• Tax from tax record: −$162 /mo · $1,945/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $183

Break-even live

Break-even rent $1,172

Max offer price $135,000

Occupancy floor 82%

Sensitivity live

Price	-10% $259	-5% $221	+0% $183	+5% $144	+10% $106
Rent	-10% $72	-5% $127	+0% $183	+5% $238	+10% $293
Rate	-1.0pp $251	-0.5pp $217	base $183	+0.5pp $148	+1.0pp $112

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
171 1/2 W Broadway St Greenwood, IN	1.0	1.0	900	$1,375	$1.53	25d	1	0.17mi
464 Carol Dr Greenwood, IN	3.0	1.0	888	$1,550	$1.75	45d	1	0.22mi
501 E Main St Greenwood, IN	2.0	1.0	968	$1,395	$1.44	45d	1	0.49mi
88 Keran Manor Ct Greenwood, IN	2.0	1.0	945	$1,450	$1.53	45d	1	0.68mi
714 Connors Dr Greenwood, IN	1.0–2.0	1.0	750	$1,254	$1.67	3d	15	0.80mi
601 Wood Dale Ter Greenwood, IN	2.0	1.5	960	$1,174	$1.22	45d	1	0.86mi
600 Wooddale Ter Apt 07 Greenwood, IN	2.0	1.0	750	$999	$1.33	25d	1	0.87mi
600 Wood Dale Ter Greenwood, IN	2.0	1.0	750	$999	$1.33	45d	1	0.87mi
628 Wooddale Ter Unit 1007 Greenwood, IN	2.0	1.5	1013	$1,104	$1.09	45d	1	0.94mi
622 Wood Dale Ter Greenwood, IN	1.0–2.0	1.0–1.5	947	$1,104	$1.17	25d	3	0.95mi
968 Greenwood Trl W Greenwood, IN	2.0	2.0	1088	$1,475	$1.36	13d	1	0.95mi
634 Wooddale Ter Unit 1010 Greenwood, IN	1.0	1.0	882	$917	$1.04	45d	1	0.97mi
902 Wallington Cir Greenwood, IN	1.0–3.0	1.0–1.5	899	$1,417	$1.58	3d	21	0.99mi
14 Greenwood Trl N Greenwood, IN	2.0	1.5	1088	$1,275	$1.17	16d	1	1.03mi
745 Wood Dale Ter Greenwood, IN	1.0–3.0	1.0–1.5	1032	$1,326	$1.28	4d	10	1.08mi
1039 N Paz Dr Greenwood, IN	1.0–2.0	1.0	800	$1,193	$1.49	3d	8	1.14mi
1043 Mikes Way Greenwood, IN	3.0	2.0	1090	$1,650	$1.51	45d	1	1.17mi
370 Homestead Ave Greenwood, IN	1.0–3.0	1.0–2.0	1135	$1,905	$1.68	3d	26	1.29mi
610 Paradise Ct Greenwood, IN	1.0–2.0	1.0–2.5	868	$1,699	$1.96	3d	26	1.31mi
1570 Countryside Dr Greenwood, IN	1.0–3.0	1.0–2.5	946	$1,358	$1.43	21d	1	1.41mi
742 Loews Blvd Greenwood, IN	1.0	1.0	600	$795	$1.32	45d	1	1.44mi
1335 Millridge Dr Greenwood, IN	3.0	2.0	1119	$1,715	$1.53	5d	1	1.45mi
700 Bexley Pl Greenwood, IN	1.0–2.0	1.0–2.0	876	$2,691	$3.07	3d	12	1.46mi
800 Kings Mill Rd Greenwood, IN	2.0	1.0–2.0	701	$1,358	$1.94	3d	52	1.47mi
1201 Carson Way Greenwood, IN	2.0	1.0–2.0	740	$1,410	$1.91	25d	20	1.48mi

Listing history 2 events

1. 2026-05-15
   status Pending
2. 2026-05-15
   listed $135,000 Active

ⓘ 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: $1,945 · $162/mo
• Projected year-2 tax: $1,945 · $162/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,844
• − Mortgage interest: −$7,562
• − Property taxes: −$1,945
• − Insurance: −$675
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$3,927
• Taxable income: $40
• Est. tax owed @ 24.0%: −$9
• After-tax cash flow: $2,182/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: 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

Price history

2 events — show timeline

• 2026-05-15 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-15 Listed $135,000 MIBOR as Distributed by MLS Grid

Property tax history

+10.4%/yr

Latest (2024): $1,945 · +1.0% YoY. Source: county tax records.