6844 N Abilene Way · McCordsville, IN 46055

$307,500

3 bd · 2.0 ba · 1,659 sqft · SingleFamily public records · 4 Days on market

Built 2001 9,365 sqft lot Est $319k · at est. $30/mo HOA · 1% of rent

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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).

• Cash flow +11.4/30.0
• ARV discount +9.1/15.0
• Schools +4.1/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Completely reimagined and move-in ready, this beautiful, COMPLETELY UPDATED 3-bedroom, 2-bath home blends modern finishes with functional everyday living. The heart of the home is the stunning great room with fireplace that opens to a NEW, eat-in kitchen with brand-new Kraftmade cabinetry, NEW quartz countertops, and a clean, stylish design that's perfect for both entertaining and daily life. Both bathrooms have been thoughtfully renovated with NEW, updated finishes, fixtures, and NEW cabinets, creating spa-like spaces that feel fresh, modern, and inviting. NEW flooring flows throughout the home, creating warmth, durability, and seamless style in every room. A dedicated home office offers f

Key facts

• Quartz countertops
• Renovated bathrooms
• Eat-in kitchen

Tags

• GREAT ROOM
• EAT-IN KITCHEN
• KRAFTMADE CABINETRY
• QUARTZ COUNTERTOPS
• RENOVATED BATHROOMS
• HOME OFFICE

Property features AI

Exterior

• Home design: Built in 2001
• Construction: Single-family residence (built 2001)
• Exterior features: Located in the Austin Trace subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $308k.

Deal economics

• At list price, monthly cash flow is $-105 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $289k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (22.5% below list).
• Recommended offer: $238k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.9% in McCordsville — 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 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.
• Market conditions: Rents rising fast (+5.2%/yr); 422 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $238,373 (22.5% 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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.78% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.46%
• DSCR: 0.94
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $318,528
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6664 Dunkirk Dr	0.21mi	4/2.0 (+1)	1,603 (-3%)	2mo	$329,900	$206	77
7074 N Lyndhurst Xing	0.29mi	3/2.0	1,571 (-5%)	6mo	$282,500	$180	73
6819 W Wintergreen Ct	0.50mi	3/2.0	1,692 (+2%)	1mo	$320,000	$189	73
6609 Dunkirk Dr	0.26mi	4/2.0 (+1)	1,600 (-4%)	11mo	$322,000	$201	68
6830 W Denton Dr	0.32mi	3/2.5	1,808 (+9%)	4mo	$250,000	$138	65
6418 W Oxford Ln	0.24mi	3/2.0	1,516 (-9%)	13mo	$282,000	$186	64
7200 Maidstone Cv	0.47mi	3/2.0	1,772 (+7%)	6mo	$430,486	$243	62
7151 N Stubbington Ln	0.41mi	3/2.0	1,465 (-12%)	2mo	$282,000	$192	60
6729 Birmingham Ave	0.22mi	3/2.0	1,904 (+15%)	7mo	$315,000	$165	59
6644 Aberdeen Dr	0.45mi	4/2.0 (+1)	1,600 (-4%)	11mo	$310,000	$194	59
6847 Cardiff Dr	0.45mi	3/2.0	1,775 (+7%)	11mo	$329,000	$185	59
7424 Cindy Dr	0.68mi	3/2.0	1,791 (+8%)	0mo	$361,000	$202	55

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: -16.5%
• Equity multiple: 0.41×
• Total profit: $-51,205
• Equity at exit: $45,849

10-year hold

• IRR: -5.0%
• Equity multiple: 0.65×
• Total profit: $-30,452
• Equity at exit: $26,587

Cash invested: $86,100 (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 46055

• Home prices YoY: -20.1%
• Rents YoY: 5.2%
• Active inventory: 422
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,384 high
• Mortgage (P&I): −$1,613
• Tax from tax record: −$217 /mo · $2,606/yr
• Insurance: −$128
• HOA: −$30
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $-105

Break-even live

Break-even rent $2,516

Max offer price $288,999

Occupancy floor 99%

Sensitivity live

Price	-10% $69	-5% $-18	+0% $-105	+5% $-192	+10% $-279
Rent	-10% $-293	-5% $-199	+0% $-105	+5% $-11	+10% $84
Rate	-1.0pp $50	-0.5pp $-27	base $-105	+0.5pp $-184	+1.0pp $-265

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: $76,875
• Closing costs: $9,225
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7044 N Mesquite Ct McCordsville, IN	3.0	2.0	2073	$1,991	$0.96	8d	1	0.29mi
6654 Willow Way McCordsville, IN	3.0–4.0	2.0–2.5	1810	$2,485	$1.37	2d	10	0.39mi
7298 N Kensington Way Unit 6311-213 McCordsville, IN	2.0	2.0	1109	$2,050	$1.85	2d	1	0.48mi
6267 Cypress Ct McCordsville, IN	3.0	2.0	1673	$2,500	$1.49	2d	1	0.55mi
N Kensington Way McCordsville, IN	1.0–2.0	1.0–2.0	968	$2,375	$2.45	20d	6	0.63mi
5790 Arcade Blvd McCordsville, IN	3.0	2.5	2021	$2,250	$1.11	20d	1	1.03mi
5811 Main St McCordsville, IN	1.0–2.0	1.0–2.0	926	$2,140	$2.31	2d	14	1.06mi
5871 Broadacre Dr McCordsville, IN	1.0–3.0	1.0–2.0	978	$2,285	$2.34	3d	150	1.06mi
6641 W Jamestown Dr McCordsville, IN	4.0	2.5	2035	$2,195	$1.08	24d	1	1.07mi
7427 Cobblestone West Dr Indianapolis, IN	3.0	2.0	1704	$1,931	$1.13	8d	1	1.10mi
5702 N Jefferson Dr McCordsville, IN	3.0	2.5	2093	$2,086	$1.00	8d	1	1.12mi
5510 Wood Spring Ln McCordsville, IN	3.0	2.5	2009	$2,091	$1.04	22d	1	1.23mi
12030 Bearsdale Dr Indianapolis, IN	3.0	2.5	1560	$2,025	$1.30	24d	1	1.35mi

HOA detail

• Monthly dues: $30 · $360/yr

Listing history 4 events

1. 2026-06-02
   status $307,500 Pending 4 DOM
2. 2026-06-01
   days on market $307,500 Active 4 DOM
3. 2026-05-31
   days on market $307,500 Active 3 DOM
4. 2026-05-12
   listed $315,000 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: $2,606 · $217/mo
• Projected year-2 tax: $2,610 · $218/mo
• Expected delta: +$4/yr ($0/mo · 0.1%)

ⓘ 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 ≥100°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: $28,605
• − Mortgage interest: −$17,225
• − Property taxes: −$2,606
• − Insurance: −$1,538
• − Repairs & maintenance: −$2,288
• − Management: −$2,288
• − HOA: −$360
• − Depreciation: −$8,945
• Taxable loss: −$6,646
• Est. tax savings @ 24.0%: +$1,595
• After-tax cash flow: $338/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: 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

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 · 59,521 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: 58.0

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 (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%

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

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

1 event — show timeline

• 2026-05-12 Listed $315,000 FSBO.com

Property tax history

+6.8%/yr

Latest (2025): $2,606 · -5.8% YoY. Source: county tax records.