2022 Derby Way · Memphis, IN 47143

$287,900

4 bd · 2.5 ba · 2,053 sqft · SingleFamily · 46 Days on market

Built 2026 Excellent condition 0.26 ac lot Est $283k · at est. ↓ 2% since listing

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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 +11.8/30.0
• ARV discount +6.8/15.0
• Schools +5.0/10.0
• Condition / age +4.8/5.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 2022 Derby Way in Memphis, Indiana, a beautiful new home located in our sought-after Champions Run community. This impressive Bellamy floor plan is a spacious two-story design and is situated on a great homesite with common space to the left and rear of the property. The open-concept layout creates a seamless flow from the kitchen to the main living areas, making it perfect for everyday living and entertaining alike. Durable luxury vinyl plank flooring extends throughout the foyer, flex room, great room, kitchen, and bathrooms, adding both style and functionality. Just off the entry, you'll find a versatile flex room-ideal for a home office, playroom, or additional sitting area. Whether you're working remotely or need extra space, this thoughtfully designed layout adapts to your lifestyle. The kitchen is truly the heart of the home, showcasing white shaker style cabinetry with soft-close doors, quartz countertops, stainless steel appliances, a spacious pantry, and a large center island-perfect for hosting gatherings or enjoying casual meals. Upstairs, the oversized primary suite offers a private retreat, complete with a luxurious ensuite featuring a double bowl vanity, stand-alone shower, and a spacious walk-in closet. Three additional bedrooms and a conveniently located laundry room complete the second level, providing comfort and practicality. Contact us today to schedule your private tour. Photos are representative of the plan only and may vary as built.

Key facts

• Quartz countertops
• Versatile flex room
• Open concept layout

Tags

• OPEN CONCEPT LAYOUT
• LUXURY VINYL PLANK FLOORING
• VERSATILE FLEX ROOM
• WHITE SHAKER STYLE CABINETRY
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• HOA & community: Homeowners association

Exterior

• Parking: Attached garage; 2 garage spaces; Garage faces front
• Utilities: Public water connection; Septic tank sewer
• Home design: 2-story home; New construction; Built by D.R. Horton (model: Bellamy)
• Construction: Stone and vinyl siding exterior
• Exterior features: Residential lot; Lot recorded from assessor

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Range
• Bedrooms: Second-floor bedrooms (multiple); Office on the first floor
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Breakfast bar; Kitchen island; Pantry; Walk-in closet(s)
• Laundry & utility: Laundry room on the upper level

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $288k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-78 ($-937/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (16.0% below list).
• Recommended offer: $242k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 5.0% in Memphis — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 70/100 on livability (#164 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Market conditions: 94 active listings in the ZIP; 911 units permitted in Clark County in 2024 (133 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.
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($279k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $241,969 (16.0% 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 46 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.84% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.16%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $283,314
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2013 Derby Way	0.06mi	4/2.5	2,053 (0%)	2mo	$299,900	$146	95
2061 Derby Way	0.06mi	4/2.5	2,014 (-2%)	1mo	$277,990	$138	93
2068 Derby Way	0.00mi	4/2.5	2,014 (-2%)	6mo	$264,991	$132	92
2014 Derby Way	0.00mi	4/2.5	1,953 (-5%)	3mo	$279,900	$143	89
1008 Legend Ct	0.22mi	4/2.5	2,014 (-2%)	3mo	$259,990	$129	84
2060 Derby Way	0.00mi	5/3.0 (+1)	2,180 (+6%)	1mo	$289,990	$133	82
2074 Derby Way	0.00mi	5/3.0 (+1)	2,180 (+6%)	4mo	$279,990	$128	79
2072 Derby Way	0.00mi	5/3.0 (+1)	2,180 (+6%)	6mo	$284,991	$131	78
2019 Derby Way	0.06mi	4/2.0	1,771 (-14%)	5mo	$278,975	$158	68
1024 Legend Ct	0.21mi	5/3.0 (+1)	2,180 (+6%)	6mo	$266,491	$122	68
1010 Legend Ct	0.21mi	4/3.0	1,774 (-14%)	7mo	$249,991	$141	60
1014 Legend Ct	0.19mi	4/3.0	1,774 (-14%)	8mo	$254,991	$144	60

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.36×
• Total profit: $-51,587
• Equity at exit: $42,927

10-year hold

• IRR: -10.4%
• Equity multiple: 0.37×
• Total profit: $-51,173
• Equity at exit: $24,892

Cash invested: $80,612 (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 47143

• Home prices YoY: -30.4%
• Active inventory: 94
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,420 medium
• Mortgage (P&I): −$1,510
• Tax est. 1.5%: −$360 /mo · $4,318/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-78

Break-even live

Break-even rent $2,518

Max offer price $276,606

Occupancy floor 98%

Sensitivity live

Price	-10% $121	-5% $21	+0% $-78	+5% $-178	+10% $-277
Rent	-10% $-269	-5% $-174	+0% $-78	+5% $18	+10% $113
Rate	-1.0pp $67	-0.5pp $-5	base $-78	+0.5pp $-153	+1.0pp $-229

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: $71,975
• Closing costs: $8,637
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-07
   pricedays on market $287,900 Active 46 DOM
2. 2026-06-03
   days on market $289,900 Active 42 DOM
3. 2026-06-02
   days on market $289,900 Active 41 DOM
4. 2026-06-02
   price $289,900 Active 40 DOM
5. 2026-06-01
   days on market $299,900 Active 40 DOM
6. 2026-05-31
   days on market $299,900 Active 39 DOM
7. 2026-05-09
   price $299,900 1492-char remark

   Show marketing remark (1492 chars)

   Welcome to 2022 Derby Way in Memphis, Indiana, a beautiful new home located in our sought-after Champions Run community. This impressive Bellamy floor plan is a spacious two-story design and is situated on a great homesite with common space to the left and rear of the property. The open-concept layout creates a seamless flow from the kitchen to the main living areas, making it perfect for everyday living and entertaining alike. Durable luxury vinyl plank flooring extends throughout the foyer, flex room, great room, kitchen, and bathrooms, adding both style and functionality. Just off the entry, you'll find a versatile flex room-ideal for a home office, playroom, or additional sitting area. Whether you're working remotely or need extra space, this thoughtfully designed layout adapts to your lifestyle. The kitchen is truly the heart of the home, showcasing white shaker style cabinetry with soft-close doors, quartz countertops, stainless steel appliances, a spacious pantry, and a large center island-perfect for hosting gatherings or enjoying casual meals. Upstairs, the oversized primary suite offers a private retreat, complete with a luxurious ensuite featuring a double bowl vanity, stand-alone shower, and a spacious walk-in closet. Three additional bedrooms and a conveniently located laundry room complete the second level, providing comfort and practicality. Contact us today to schedule your private tour. Photos are representative of the plan only and may vary as built.

8. 2026-05-08
   price $299,900
9. 2026-05-05
   price $300,900 1492-char remark

   Show marketing remark (1492 chars)

   Welcome to 2022 Derby Way in Memphis, Indiana, a beautiful new home located in our sought-after Champions Run community. This impressive Bellamy floor plan is a spacious two-story design and is situated on a great homesite with common space to the left and rear of the property. The open-concept layout creates a seamless flow from the kitchen to the main living areas, making it perfect for everyday living and entertaining alike. Durable luxury vinyl plank flooring extends throughout the foyer, flex room, great room, kitchen, and bathrooms, adding both style and functionality. Just off the entry, you'll find a versatile flex room-ideal for a home office, playroom, or additional sitting area. Whether you're working remotely or need extra space, this thoughtfully designed layout adapts to your lifestyle. The kitchen is truly the heart of the home, showcasing white shaker style cabinetry with soft-close doors, quartz countertops, stainless steel appliances, a spacious pantry, and a large center island-perfect for hosting gatherings or enjoying casual meals. Upstairs, the oversized primary suite offers a private retreat, complete with a luxurious ensuite featuring a double bowl vanity, stand-alone shower, and a spacious walk-in closet. Three additional bedrooms and a conveniently located laundry room complete the second level, providing comfort and practicality. Contact us today to schedule your private tour. Photos are representative of the plan only and may vary as built.

10. 2026-04-25
    price $299,900 1492-char remark

    Show marketing remark (1492 chars)

    Welcome to 2022 Derby Way in Memphis, Indiana, a beautiful new home located in our sought-after Champions Run community. This impressive Bellamy floor plan is a spacious two-story design and is situated on a great homesite with common space to the left and rear of the property. The open-concept layout creates a seamless flow from the kitchen to the main living areas, making it perfect for everyday living and entertaining alike. Durable luxury vinyl plank flooring extends throughout the foyer, flex room, great room, kitchen, and bathrooms, adding both style and functionality. Just off the entry, you'll find a versatile flex room-ideal for a home office, playroom, or additional sitting area. Whether you're working remotely or need extra space, this thoughtfully designed layout adapts to your lifestyle. The kitchen is truly the heart of the home, showcasing white shaker style cabinetry with soft-close doors, quartz countertops, stainless steel appliances, a spacious pantry, and a large center island-perfect for hosting gatherings or enjoying casual meals. Upstairs, the oversized primary suite offers a private retreat, complete with a luxurious ensuite featuring a double bowl vanity, stand-alone shower, and a spacious walk-in closet. Three additional bedrooms and a conveniently located laundry room complete the second level, providing comfort and practicality. Contact us today to schedule your private tour. Photos are representative of the plan only and may vary as built.

11. 2026-04-22
    listed $301,710 Active
12. 2026-04-15
    price $301,710 1492-char remark

    Show marketing remark (1492 chars)

    Welcome to 2022 Derby Way in Memphis, Indiana, a beautiful new home located in our sought-after Champions Run community. This impressive Bellamy floor plan is a spacious two-story design and is situated on a great homesite with common space to the left and rear of the property. The open-concept layout creates a seamless flow from the kitchen to the main living areas, making it perfect for everyday living and entertaining alike. Durable luxury vinyl plank flooring extends throughout the foyer, flex room, great room, kitchen, and bathrooms, adding both style and functionality. Just off the entry, you'll find a versatile flex room-ideal for a home office, playroom, or additional sitting area. Whether you're working remotely or need extra space, this thoughtfully designed layout adapts to your lifestyle. The kitchen is truly the heart of the home, showcasing white shaker style cabinetry with soft-close doors, quartz countertops, stainless steel appliances, a spacious pantry, and a large center island-perfect for hosting gatherings or enjoying casual meals. Upstairs, the oversized primary suite offers a private retreat, complete with a luxurious ensuite featuring a double bowl vanity, stand-alone shower, and a spacious walk-in closet. Three additional bedrooms and a conveniently located laundry room complete the second level, providing comfort and practicality. Contact us today to schedule your private tour. Photos are representative of the plan only and may vary as built.

13. 2026-03-05
    listed $305,710 Active 1492-char remark

    Show marketing remark (1492 chars)

    Welcome to 2022 Derby Way in Memphis, Indiana, a beautiful new home located in our sought-after Champions Run community. This impressive Bellamy floor plan is a spacious two-story design and is situated on a great homesite with common space to the left and rear of the property. The open-concept layout creates a seamless flow from the kitchen to the main living areas, making it perfect for everyday living and entertaining alike. Durable luxury vinyl plank flooring extends throughout the foyer, flex room, great room, kitchen, and bathrooms, adding both style and functionality. Just off the entry, you'll find a versatile flex room-ideal for a home office, playroom, or additional sitting area. Whether you're working remotely or need extra space, this thoughtfully designed layout adapts to your lifestyle. The kitchen is truly the heart of the home, showcasing white shaker style cabinetry with soft-close doors, quartz countertops, stainless steel appliances, a spacious pantry, and a large center island-perfect for hosting gatherings or enjoying casual meals. Upstairs, the oversized primary suite offers a private retreat, complete with a luxurious ensuite featuring a double bowl vanity, stand-alone shower, and a spacious walk-in closet. Three additional bedrooms and a conveniently located laundry room complete the second level, providing comfort and practicality. Contact us today to schedule your private tour. Photos are representative of the plan only and may vary as built.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,036
• − Mortgage interest: −$16,127
• − Property taxes: −$4,318
• − Insurance: −$1,440
• − Repairs & maintenance: −$2,323
• − Management: −$2,323
• − Depreciation: −$8,375
• Taxable loss: −$5,870
• Est. tax savings @ 24.0%: +$1,409
• After-tax cash flow: $472/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 · 13 photos

Excellent 95/100 None rehab

This beautiful new home in Champions Run community is move-in ready with modern finishes and a spacious floor plan. It offers excellent curb appeal and is well-maintained both inside and out.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics
• Both Landscaping improvements — Well-maintained landscaping can increase curb appeal and property value
• Both Adding smart home features — Smart home features can increase property value and attract tech-savvy buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Well-maintained landscaping can increase curb appeal and property value ↑
• Both Adding smart home features — Smart home features can increase property value and attract tech-savvy buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

No district data.

Livability — Memphis

• Score: 70/100
• State rank: #164
• US rank: #7848

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: Memphis, IN
• Population (ZIP): 3,775

Population outlook (Clark County) Hauer SSP2

• Today (2025): 126,401 people
• By 2030: 131,455 · +4.0%
• By 2040: 140,471 · +11.1%
• By 2050: 147,677 · +16.8%
• By 2075: 161,702 · +27.9%
• By 2100: 164,078 · +29.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6% Hispanic / Latino 2% Black 1%
• Common ancestry: Italian 5% American 3% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+20.4) · D 38.9% · R 59.3% · Other 1.8%
• 2008→2024 swing: -13.3pp toward R · 2008: -7.1pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+18.3 2016: R+22.0 2012: R+9.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.60%
• Current HPI: 184.1286
• Rent YoY: —
• Metro: —
• 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

-1.9% since first listed

7 events — show timeline

• 2026-05-09 Price Changed $299,900 Zillow
• 2026-05-08 Price Changed $299,900 SIRA
• 2026-05-05 Price Changed $300,900 Zillow
• 2026-04-25 Price Changed $299,900 Zillow
• 2026-04-22 Listed $301,710 SIRA
• 2026-04-15 Price Changed $301,710 Zillow
• 2026-03-05 Listed $305,710 Zillow