3193 E Maygrove Dr · Danville, IN 46122

$290,000

4 bd · 2.5 ba · 1,680 sqft · SingleFamily public records · 50 Days on market

Built 2022 6,534 sqft lot $173/sqft · 9% below area Est $319k · 9% under $42/mo HOA · 2% 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).

• ARV discount +11.5/15.0
• Cash flow +9.9/30.0
• Schools +4.8/10.0
• Livability +3.2/5.0
• DSCR +2.8/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PRICED TO SELL!!! BUILT IN 2022,YOUR HOME IS MOVE-IN READY! LOCATED IN CAMDEN CREEK. THIS HOME IS LOCATED ONLY MINUTES FROM THE AWARD-WINNING DANVILLE SCHOOLS. THE 2-STORY HOME OFFERS OVER 1600 SQ FT OF DOWNSTAIRS OPEN-CONCEPT LIVING. THE PRIMARY SUITE IS A GENEROUS SPACE WITH A WALK-IN CLOSET AND DOUBLE SINK ENSUITE. YOUR BACKYARD OFFERS A CLEAN SLATE FOR YOU TO ADD YOUR VISION FOR A PATIO AND OR DECK. SCHEDULE YOUR SHOWING AND PREPARE TO ENJOYYOUR HOME TODAY WITH FUTURE EQUITY IN MIND!

Key facts

• Move-in ready
• Camden creek
• Walk-in closet

Tags

• MOVE-IN READY
• CAMDEN CREEK
• AWARD-WINNING DANVILLE SCHOOLS
• OPEN-CONCEPT LIVING
• WALK-IN CLOSET
• DOUBLE SINK ENSUITE

Property features AI

Finance

• HOA & community: HOA with annual fee ($500) covering entrance common, grounds maintenance and management; Association provides grounds maintenance and management; HOA governed by covenants & restrictions

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Municipal sewer
• Home design: Single family residence; Two levels
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: <1/4 acre lot; Lot size 0.15 acre

Interior

• Kitchen: Electric cooktop; Electric oven; Microwave; Dishwasher; Disposal; Refrigerator; Kitchen island
• Bedrooms: Primary bedroom with walk-in closet; Four bedrooms on the upper level
• Bathrooms: Two full bathrooms; One half bathroom; Primary bath with tub and shower
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Attic access; Kitchen island; Walk-in closet(s)
• Laundry & utility: Washer; Dryer; Water heater; Upper-level laundry room (6x5)

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-182 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (24.2% below list).
• Recommended offer: $220k (24.2% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.1% in Danville — 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 65/100 on livability (#325 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Danville Community School Corporation (suburban): math 52% / reading 57% proficiency, ranked #27 of 301 in IN (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Elementary School (650 students, 38% FRL); Danville Middle School (math 53% / reading 58%, grade B-, #24 of 330 statewide, top 7%, 805 students, 34% FRL); Danville Community High School (math 42% / reading 67%, grade C-, #79 of 369 statewide, top 26%, 788 students, 27% FRL).
• Market conditions: 199 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,294 units permitted in Hendricks County in 2024 (18 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.
• Hendricks County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $61k; list at $290k implies a 377% gain — meaningful room to come down on a strong offer.

Recommended offer $219,686 (24.2% 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 50 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.76% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.68%
• DSCR: 0.88
• GRM: 11.0

CMA / ARV

• ARV (median comp): $318,594
• List price: $290,000
• Delta: -8.98%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
197 N Fairfield Dr	0.14mi	4/2.5	1,900 (+13%)	1mo	$308,000	$162	71
3068 E Thorpe St	0.13mi	4/2.5	1,900 (+13%)	2mo	$326,000	$172	70
713 Penrose Pl	0.32mi	3/2.0 (-1)	1,673 (-0%)	15mo	$296,000	$177	65
732 Penrose Pl	0.35mi	3/2.0 (-1)	1,673 (-0%)	14mo	$300,000	$179	64
691 Bedford Dr	0.33mi	3/2.0 (-1)	1,673 (-0%)	16mo	$290,000	$173	64
252 N Fairfield Dr	0.14mi	4/2.5	1,900 (+13%)	20mo	$313,000	$165	55
3570 E County Road 100 N	0.75mi	3/2.0 (-1)	1,508 (-10%)	9mo	$330,000	$219	34

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: -20.8%
• Equity multiple: 0.28×
• Total profit: $-58,579
• Equity at exit: $43,240

10-year hold

• IRR: -14.1%
• Equity multiple: 0.19×
• Total profit: $-65,986
• Equity at exit: $25,074

Cash invested: $81,200 (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 46122

• Home prices YoY: -32.1%
• Active inventory: 199
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,197 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$234 /mo · $2,802/yr
• Insurance: −$121
• HOA: −$42
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $-182

Break-even live

Break-even rent $2,427

Max offer price $257,919

Occupancy floor —

Sensitivity live

Price	-10% $-17	-5% $-100	+0% $-182	+5% $-264	+10% $-346
Rent	-10% $-355	-5% $-268	+0% $-182	+5% $-95	+10% $-8
Rate	-1.0pp $-36	-0.5pp $-108	base $-182	+0.5pp $-257	+1.0pp $-333

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
204 Myers Rd Danville, IN	3.0	2.0	1627	$1,889	$1.16	45d	1	0.44mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 12 events

1. 2026-06-13
   statusdays on market $290,000 Pending 50 DOM
2. 2026-06-10
   price $290,000 Active 47 DOM
3. 2026-06-09
   days on market $296,000 Active 47 DOM
4. 2026-06-08
   days on market $296,000 Active 46 DOM
5. 2026-06-07
   days on market $296,000 Active 45 DOM
6. 2026-06-03
   days on market $296,000 Active 41 DOM
7. 2026-06-02
   days on market $296,000 Active 40 DOM
8. 2026-06-01
   days on market $296,000 Active 39 DOM
9. 2026-05-31
   days on market $296,000 Active 38 DOM
10. 2026-05-12
    price $296,000 497-char remark
11. 2026-04-23
    listed $300,000 Active 497-char remark
12. 2022-10-07
    soldstatus $60,770

ⓘ 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: $2,802 · $234/mo
• Projected year-2 tax: $2,802 · $234/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $26,362
• − Mortgage interest: −$16,245
• − Property taxes: −$2,802
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,109
• − Management: −$2,109
• − HOA: −$504
• − Depreciation: −$8,436
• Taxable loss: −$7,293
• Est. tax savings @ 24.0%: +$1,750
• After-tax cash flow: $-429/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: Danville Community School Corporation
• NCES district ID: 1802550
• Math proficiency: 52% ▼ -10.00%
• Reading proficiency: 57% ▼ -6.00%
• Median HH income: $64,913
• Composite: 47.93/100
• National rank: #2208
• State rank: #27 of 301 in IN

Livability — Danville

• Score: 65/100
• State rank: #325
• US rank: #12689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danville, IN
• County: Hendricks County · 143,373 people
• City population: 16,974
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 16,974
• Household income: $99,531
• Rent vs Own: 20.7% rent · 79.3% own
• Severe rent burden: 234.0

Population outlook (Hendricks County) Hauer SSP2

• Today (2025): 187,418 people
• By 2030: 201,494 · +7.5%
• By 2040: 228,487 · +21.9%
• By 2050: 253,068 · +35.0%
• By 2075: 308,920 · +64.8%
• By 2100: 336,510 · +79.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 2% Black 2% Two or more races 2%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Hendricks

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.7%
• 2008→2024 swing: +1.9pp toward D · 2008: -23.4pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+23.9 2016: R+34.2 2012: R+34.9 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.58%
• Current HPI: 222.8401
• Rent YoY: —
• 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

+377.2% since first listed

5 events — show timeline

• 2026-06-12 Pending — MIBOR as Distributed by MLS Grid
• 2026-06-09 Price Changed $290,000 MIBOR as Distributed by MLS Grid
• 2026-05-12 Price Changed $296,000 MIBOR as Distributed by MLS Grid
• 2026-04-23 Listed $300,000 MIBOR as Distributed by MLS Grid
• 2022-10-07 Sold (Public Records) $60,770 Public Records

Property tax history

+1466.4%/yr

Latest (2025): $2,802 · +778.0% YoY. Source: county tax records.