Christoph Plan · Whitestown, IN 46075

$310,900

5 bd · 2.5 ba · 2,375 sqft · Townhouse · 628 Days on market

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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 +11.5/30.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the Christoph, a modern 2-story townhome available exclusively in the Trailside community. Designed with luxury and functionality in mind, this 5-bedroom, 2.5-bathroom floor plan offers an expansive layout perfect for families or those who love to entertain. The main level features a private primary bedroom suite. This tranquil sanctuary serves as the perfect retreat, complete with a generous walk-in closet and an en-suite bathroom featuring a dual-sink vanity, a linen closet, a shower, and a private commode. The heart of the home centers around a bright, open-concept layout where the great room seamlessly flows into the dining area and a chef-friendly kitchen. This kitchen leave

Key facts

• 2 garage spots
• Listed 628 days

🏗️ New construction. The $310,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $325,075.

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath townhouse listed at $311k.

Deal economics

• At list price, monthly cash flow is $-107 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $310k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (12.9% below list).
• Recommended offer: $271k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.2% in Whitestown — 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 (#109 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Lebanon Community School Corporation (town): math 41% / reading 44% proficiency, ranked #115 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Perry Worth Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 430 students, 30% FRL); Lebanon Middle School (math 35% / reading 40%, grade F, #146 of 330 statewide, top 46%, 807 students, 46% FRL); Lebanon Senior High School (math 43% / reading 68%, grade C, #75 of 369 statewide, top 20%, 1,027 students, 38% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: Rents flat; 270 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 898 units permitted in Boone 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 $10k of value loss. Plan a longer hold.
• Boone County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 628 days — a 12% lower offer ($274k) is reasonable based on typical stale-listing flexibility.

Recommended offer $270,805 (12.9% 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. It's been on market 628 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
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. 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?
7. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.41%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (median comp): $325,075
• List price: $310,900
• Delta: -4.36%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6199 Rhinecliff Dr	0.49mi	5/2.5	2,376 (0%)	5mo	$296,900	$125	73
6084 Cascades Dr	0.52mi	5/2.5	2,376 (0%)	5mo	$305,900	$129	72
6150 Cascades Dr	0.51mi	5/2.5	2,376 (0%)	9mo	$329,000	$138	69
6206 Cascades Dr	0.50mi	5/2.5	2,376 (0%)	12mo	$325,000	$137	67
6163 Rhinecliff Dr	0.49mi	4/2.5 (-1)	2,430 (+2%)	3mo	$312,900	$129	66
6192 Cascades Dr	0.50mi	4/2.5 (-1)	2,430 (+2%)	3mo	$329,000	$135	65
6134 Cascades Dr	0.51mi	4/2.5 (-1)	2,430 (+2%)	4mo	$324,900	$134	64
6313 Rhinecliff Dr	0.48mi	5/2.5	2,376 (0%)	20mo	$330,000	$139	61
6248 Cascades Dr	0.50mi	4/2.5 (-1)	2,430 (+2%)	11mo	$325,000	$134	59
6213 Rhinecliff Dr	0.49mi	4/2.5 (-1)	2,430 (+2%)	17mo	$320,000	$132	55
6267 Rhinecliff Dr	0.48mi	4/2.5 (-1)	2,430 (+2%)	17mo	$327,500	$135	54
6251 Rhinecliff Dr	0.48mi	5/7.0	2,376 (0%)	17mo	$320,000	$135	45

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 · 0.77% rent growth · sell at horizon

5-year hold

• IRR: -21.1%
• Equity multiple: 0.28×
• Total profit: $-65,404
• Equity at exit: $48,470

10-year hold

• IRR: -20.8%
• Equity multiple: 0.02×
• Total profit: $-88,900
• Equity at exit: $28,107

Cash invested: $91,021 (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 46075

• Home prices YoY: -20.0%
• Rents YoY: 0.8%
• Active inventory: 270
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,708 high
• Mortgage (P&I): −$1,705
• Tax est. 1.5%: −$406 /mo · $4,876/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $-107

Break-even live

Break-even rent $2,844

Max offer price $309,569

Occupancy floor 99%

Sensitivity live

Price	-10% $117	-5% $5	+0% $-107	+5% $-219	+10% $-332
Rent	-10% $-321	-5% $-214	+0% $-107	+5% $0	+10% $107
Rate	-1.0pp $57	-0.5pp $-24	base $-107	+0.5pp $-191	+1.0pp $-277

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: $81,269
• Closing costs: $9,752
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2557 Lamar Dr Whitestown, IN	4.0	2.5	1981	$2,199	$1.11	45d	1	0.16mi
2606 Plano Dr Unit NA Whitestown, IN	4.0	3.0	2119	$2,600	$1.23	0d	1	0.18mi
6831 Orchard Run Cir Whitestown, IN	4.0	2.5	2131	$2,350	$1.10	0d	1	0.32mi
6251 Rhinecliff Dr Whitestown, IN	5.0	2.5	2376	$2,399	$1.01	45d	1	0.49mi
2060 Dixon Creek Dr Whitestown, IN	4.0	2.5	2401	$700	$0.29	23d	1	0.49mi
6870 Teder Creek Ln Whitestown, IN	5.0	3.0	2450	$2,600	$1.06	12d	1	0.52mi
7073 Fowler Dr Whitestown, IN	4.0	3.5	2491	$2,550	$1.02	0d	1	0.58mi
2881 Cross Branch Dr Whitestown, IN	3.0–4.0	2.5	1835	$2,399	$1.31	21d	4	0.62mi
7183 Finley Creek Dr Whitestown, IN	5.0	3.0	2540	$2,700	$1.06	45d	1	0.79mi
3340 Preakness St Whitestown, IN	4.0	2.5	2426	$2,699	$1.11	4d	1	0.90mi
3766 White Cliff Way Unit 1464961P Whitestown, IN	5.0	2.0	2798	$5,704	$2.04	4d	1	1.31mi

Listing history 5 events

1. 2026-06-21
   days on market $310,900 Active 628 DOM
2. 2026-06-18
   days on market $310,900 Active 625 DOM
3. 2026-06-17
   days on market $310,900 Active 624 DOM
4. 2026-06-16
   remarks 699-char remark
5. 2026-06-16
   pricestatusdays on market $310,900 Active 623 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,497
• − Mortgage interest: −$18,209
• − Property taxes: −$4,876
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,600
• − Management: −$2,600
• − Depreciation: −$9,457
• Taxable loss: −$6,870
• Est. tax savings @ 24.0%: +$1,649
• After-tax cash flow: $363/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: Lebanon Community School Corporation
• NCES district ID: 1805790
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $52,178
• Composite: 36.77/100
• National rank: #4571
• State rank: #115 of 301 in IN

Livability — Whitestown

• Score: 73/100
• State rank: #109
• US rank: #5691

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: Whitestown, IN
• County: Boone County · 69,822 people
• City population: 9,509
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 9,509
• Household income: $117,002
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 287.0

Population outlook (Boone County) Hauer SSP2

• Today (2025): 77,877 people
• By 2030: 85,185 · +9.4%
• By 2040: 99,753 · +28.1%
• By 2050: 113,572 · +45.8%
• By 2075: 145,674 · +87.1%
• By 2100: 161,165 · +106.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Asian 4% Hispanic / Latino 3% Black 3%
• Common ancestry: Italian 4% Romanian 3% Slovak 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Other Indo-European 5% Spanish 2% Chinese 1%

Political lean MEDSL · Boone

• 2024 margin: R (+16.0) · D 41.0% · R 57.0% · Other 2.0%
• 2008→2024 swing: +9.8pp toward D · 2008: -25.8pp · 2024: -16.0pp
• All cycles: 2024: R+16.0 2020: R+18.4 2016: R+29.5 2012: R+37.8 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.51%
• Current HPI: 198.3353
• Rent YoY: ▲ 0.77%
• 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