1285 Chestnut St · Noblesville, IN 46060

$130,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 1 Days on market

Built 1955 6,970 sqft lot Est $115k · 13% over

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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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Schools +4.8/10.0
• Livability +4.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• Appreciation +0.0/10.0

Listing remarks

Excellent investment opportunity near downtown Noblesville! Ideal for a fixer-upper project or your next flip, this 2-bedroom, 1-bath home is packed with potential. Features include a full, highly usable basement with laundry facilities (washer/dryer included but not warranted). Gas hot water heater 2004, plus some updated electrical wiring and a detached 2-car garage equipped with an automatic opener and convenient alley access. Situated just moments from downtown amenities, this property offers incredible customization potential and long-term value. Sold as-is.

Key facts

• Laundry facilities
• Alley access
• Downtown amenities

Tags

• FULL BASEMENT
• LAUNDRY FACILITIES
• DETACHED GARAGE
• ALLEY ACCESS
• DOWNTOWN AMENITIES

Property features AI

Exterior

• Parking: Detached 2-car garage with garage door opener and service door
• Utilities: Public water; Municipal sewer connected; Electricity connected; Natural gas connected
• Home design: Single-family residence; One level; Faces north; Property is listed in fixer condition
• Construction: Aluminum siding; Block foundation; Full unfinished basement
• Exterior features: Covered porch/patio; City lot with mature trees; Street lights nearby; No fence

Interior

• Kitchen: Electric oven; Range hood
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas water heater; Range hood; Smoke alarm; Sump pump
• Laundry & utility: In-unit laundry; Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $443 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 10.4% vs local median 3.2% in Noblesville — 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 86/100 on livability (#3 in IN, #446 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: commute F.
• Noblesville Schools (suburban): math 51% / reading 57% proficiency, ranked #26 of 301 in IN (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Stony Creek Elementary School (math 61% / reading 49%, grade C, #192 of 994 statewide, top 20%, 579 students, 24% FRL); Noblesville High School (math 53% / reading 79%, grade B, #28 of 369 statewide, top 7%, 3,227 students, 23% FRL).
• Market conditions: Rents rising (+1.8%/yr); 451 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,661 units permitted in Hamilton County in 2024 (1,528 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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 + 1.8% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1955 — 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: 1.23% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.61%
• DSCR: 1.65
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $115,200
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
596 Christian Ave	0.37mi	2/1.0	736 (+2%)	5mo	$120,000	$163	74
1464 Mulberry St	0.40mi	1/1.0 (-1)	725 (+1%)	3mo	$103,000	$142	73
1915 Mulberry St	0.62mi	2/1.0	720 (0%)	10mo	$140,000	$194	63
698 Plum St	0.31mi	1/1.0 (-1)	724 (+1%)	23mo	$150,000	$207	61
1911 Mulberry St	0.61mi	2/1.0	780 (+8%)	7mo	$125,000	$160	52
1921 Mulberry St	0.62mi	3/1.0 (+1)	780 (+8%)	2mo	$109,000	$140	50
1912 Mulberry St	0.63mi	3/1.0 (+1)	624 (-13%)	6mo	$87,500	$140	38
271 S 5th St	0.65mi	2/1.0	808 (+12%)	15mo	$112,000	$139	37

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 · 1.79% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.14×
• Total profit: $5,208
• Equity at exit: $19,383

10-year hold

• IRR: 12.2%
• Equity multiple: 1.91×
• Total profit: $33,073
• Equity at exit: $11,240

Cash invested: $36,400 (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 46060

• Rents YoY: 1.8%
• Active inventory: 451
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,600 high
• Mortgage (P&I): −$682
• Tax from tax record: −$85 /mo · $1,016/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $443

Break-even live

Break-even rent $1,039

Max offer price $130,000

Occupancy floor 67%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1044 Walnut St Noblesville, IN	1.0	1.0	600	$1,050	$1.75	23d	1	0.32mi
639 Cherry St Noblesville, IN	1.0	1.0	700	$1,300	$1.86	23d	1	0.63mi
880 Maple Ave Noblesville, IN	1.0–2.0	1.0–2.0	862	$1,950	$2.26	14d	13	0.66mi
490 Maple Ave Noblesville, IN	2.0	2.0	598	$1,799	$3.01	2d	27	0.76mi
196 Westfield Rd Noblesville, IN	2.0	1.0–2.0	921	$2,129	$2.31	23d	25	0.98mi
314 Great Lakes Dr Noblesville, IN	1.0–2.0	1.0–2.0	775	$1,795	$2.32	2d	10	1.24mi
7983 Stayer Dr Noblesville, IN	1.0–2.0	1.0–2.0	915	$1,775	$1.94	2d	22	1.36mi

Listing history 2 events

1. 2026-06-07
   remarks 569-char remark
2. 2026-06-07
   listed $130,000 Pending 1 DOM

ⓘ 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: $1,016 · $85/mo
• Projected year-2 tax: $1,060 · $88/mo
• Expected delta: +$45/yr (+$4/mo · 4.4%)

ⓘ 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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,195
• − Mortgage interest: −$7,282
• − Property taxes: −$1,016
• − Insurance: −$650
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$3,782
• Taxable income: $3,394
• Est. tax owed @ 24.0%: −$815
• After-tax cash flow: $4,503/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: Noblesville Schools
• NCES district ID: 1807650
• Math proficiency: 51% ▼ -12.00%
• Reading proficiency: 57% ▼ -8.00%
• Median HH income: $71,719
• Composite: 48.16/100
• National rank: #2177
• State rank: #26 of 301 in IN

Livability — Noblesville

• Score: 86/100
• State rank: #3
• US rank: #446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Noblesville, IN
• County: Hamilton County · 337,479 people
• City population: 88,670
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 47,610
• Household income: $91,918
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 641.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Two or more races 6% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 3% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 1%

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: ▼ -165.86%
• Current HPI: 234.6658
• Rent YoY: ▲ 1.79%
• 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

• 2026-06-06 Pending — MIBOR as Distributed by MLS Grid
• 2026-06-05 Listed $130,000 MIBOR as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2025): $1,016 · -6.9% YoY. Source: county tax records.