Wentworth Plan · McCordsville, IN 46055

$449,995

6 bd · 3.5 ba · 3,300 sqft · SingleFamily · 14 Days on market

Good condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +5.4/30.0
• Schools +4.8/10.0
• Condition / age +4.0/5.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

The Great Room, dining room, kitchen and morning room share a convenient open-concept layout on the first floor of this sophisticated two-story home, adjacent to a secondary bedroom and study. A versatile loft and five additional bedrooms occupy the top floor including the restful owner's suite, which features a spacious bedroom, en-suite bathroom and walk-in closet. Rounding out the home is an enviable three-car garage.

Key facts

• 3 garage spots
• Listed 14 days

🏗️ New construction. The $449,995 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $489,505.

What this means for you Summary

Snapshot

• This is a 6-bed/3.5-bath single-family listed at $450k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $326k (27.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $293k (34.8% below list).
• Recommended offer: $293k (34.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#181 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mt Vernon Community School Corporation (rural): math 43% / reading 48% proficiency, ranked #70 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Mccordsville Elementary School (math 54% / reading 38%, grade D-, #357 of 994 statewide, top 37%, 673 students, 25% FRL); Mt Vernon Middle School (math 37% / reading 46%, grade F, #108 of 330 statewide, top 34%, 1,070 students, 31% FRL); Mt Vernon High School (math 41% / reading 71%, grade C, #73 of 369 statewide, top 20%, 1,431 students, 27% FRL).
• Market conditions: Rents rising fast (+5.2%/yr); 580 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($114k/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 $3k of loan paydown is wiped out by about $15k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $293,419 (34.8% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.60% ✗
• Cap rate: 3.68%
• Cash-on-cash: -9.32%
• DSCR: 0.59
• GRM: 13.9

CMA / ARV

• ARV (median comp): $489,505
• List price: $449,995
• Delta: -8.07%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7382 Peristyle Ln	0.10mi	6/3.5	3,300 (0%)	1mo	$435,000	$132	95
7392 Peristyle Ln	0.19mi	5/3.5 (-1)	3,020 (-8%)	2mo	$435,000	$144	71
5800 Cloister Ln	0.27mi	5/3.5 (-1)	3,456 (+5%)	6mo	$624,692	$181	69
7194 Portico Ln	0.35mi	5/3.5 (-1)	3,481 (+6%)	3mo	$580,000	$167	67
7360 Cella Ln	0.18mi	5/3.0 (-1)	2,917 (-12%)	9mo	$500,523	$172	57
7053 Portico Ln	0.40mi	5/3.0 (-1)	3,000 (-9%)	3mo	$496,300	$165	57
7098 Portico Ln	0.40mi	5/3.0 (-1)	3,179 (-4%)	18mo	$478,000	$150	53
7193 Portico Ln	0.32mi	5/5.0 (-1)	3,169 (-4%)	18mo	$487,500	$154	52
7076 Portico Ln	0.41mi	5/3.0 (-1)	2,922 (-12%)	5mo	$474,990	$163	51
7673 N Center St	0.61mi	5/3.0 (-1)	2,892 (-12%)	8mo	$370,000	$128	38
7085 Maidstone Cv	0.74mi	5/3.5 (-1)	2,848 (-14%)	2mo	$470,720	$165	36
7179 Maidstone Cv	0.71mi	5/2.5 (-1)	2,850 (-14%)	16mo	$468,829	$165	22

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 · 5.18% rent growth · sell at horizon

5-year hold

• IRR: -31.6%
• Equity multiple: -0.06×
• Total profit: $-144,713
• Equity at exit: $72,987

10-year hold

• IRR: -26.6%
• Equity multiple: -0.39×
• Total profit: $-190,233
• Equity at exit: $42,323

Cash invested: $137,061 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 9 under contract
• Months of supply: 13.0 mo (8%/mo absorbed)
• Median asking: $466,985 ($159/sqft)
• Median days on market: 99 d
• This list price: 46% of active listings are priced below it
• ARV vs active asking: -6.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46055

• Home prices YoY: -20.1%
• Rents YoY: 5.2%
• Active inventory: 580
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $2,934 medium
• Mortgage (P&I): −$2,567
• Tax est. 1.5%: −$612 /mo · $7,343/yr
• Insurance: −$204
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$616
• Net cashflow: $-1,131

Break-even live

Break-even rent $4,366

Max offer price $325,803

Occupancy floor —

Sensitivity live

Price	-10% $-793	-5% $-962	+0% $-1,131	+5% $-1,300	+10% $-1,470
Rent	-10% $-1,363	-5% $-1,247	+0% $-1,131	+5% $-1,015	+10% $-900
Rate	-1.0pp $-885	-0.5pp $-1,007	base $-1,131	+0.5pp $-1,258	+1.0pp $-1,387

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: $122,376
• Closing costs: $14,685
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6492 W Riverside Rd McCordsville, IN	5.0	2.5	2591	$2,666	$1.03	4d	1	1.28mi

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 17 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: $35,210
• − Mortgage interest: −$27,420
• − Property taxes: −$7,343
• − Insurance: −$3,245
• − Repairs & maintenance: −$2,817
• − Management: −$2,817
• − Depreciation: −$14,240
• Taxable loss: −$22,671
• Est. tax savings @ 24.0%: +$5,441
• After-tax cash flow: $-8,135/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 · 30 photos

Good 80/100 None rehab

This home is in excellent condition with modern finishes and a well-maintained exterior. It is move-in ready and would benefit from minor updates to enhance curb appeal and interior aesthetics.

Value-add opportunities

• Both Painting — Neutral paint colors can be updated to enhance curb appeal and interior aesthetics ↑
• Both Landscaping — Enhance curb appeal and add greenery ↑
• Both Flooring — Update flooring to modern styles and materials ↑

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary Mccordsville Elementary School D- IN #357/994 Nat'l #15,585/41,679 Middle Mt Vernon Middle School F IN #108/330 Nat'l #5,602/14,009 High Mt Vernon High School C IN #73/369 Nat'l #4,311/17,239

Schools (NCES district)

• District: Mt Vernon Community School Corporation
• NCES district ID: 1807260
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $73,671
• Composite: 41.3/100
• National rank: #3514
• State rank: #70 of 301 in IN

C Composite livability gradescore 69/100

Livability — McCordsville

• Score: 69/100
• State rank: #181
• US rank: #8388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McCordsville, IN
• County: Hancock County · 77,820 people
• City population: 16,010
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 16,010
• Household income: $113,784
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 7% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 13% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Lithuanian 3% Italian 3% Romanian 3%
• Foreign-born: 4% · Canada, Vietnam, Jamaica
• Languages at home: 94% English-only · Spanish 4%

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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: ▼ -52.35%
• Current HPI: 207.9764
• Rent YoY: ▲ 5.18%
• Metro: Indianapolis-Carmel-Anderson, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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