2084 Derby Way · Memphis, IN 47143

$284,490

4 bd · 2.5 ba · 2,014 sqft · SingleFamily · 49 Days on market

Built 2026 Good condition 9,148 sqft lot Est $278k · at est. $29/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 +11.1/30.0
• ARV discount +6.4/15.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to our Essex plan. The open-concept main floor features a spacious family room that flows seamlessly into the dining area and modern kitchen. The kitchen shines with granite countertops, stainless steel appliances, and white shaker-style cabinetry. Upstairs, you'll find a spacious owner's suite complete with a walk-in closet and a private bath featuring dual vanities. Three additional bedrooms with walk-in closets provide plenty of room for family or guests. The versatile downstairs flex space, half bathroom, and upstairs laundry room allow for added comfort and convenience. From cozy nights in to hosting, this home delivers comfort, functionality, and value.

Key facts

• Inviting kitchen
• Elegant cabinetry
• Open layout

Tags

• OPEN LAYOUT
• INVITING KITCHEN
• ELEGANT CABINETRY
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• FLEX ROOM

Property features AI

Finance

• Other: Subdivision listed as Other
• Financial info: Annual tax amount reported
• HOA & community: Homeowners association with an annual fee of $350 (about $29.17/month)

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces
• Security: Smoke detector(s); Carbon monoxide detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); 2 stories; Built by Century Complete
• Construction: Vinyl siding; Slab foundation
• Exterior features: Shingle roof; Lot dimensions approximately 69 x 128; Lot size about 0.21 acres; Public water; Public sewer; Energy-efficient windows

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: 4 total rooms (bedroom count included in total rooms)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom; 1 bathroom on the main level
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Dishwasher; Microwave; Vinyl flooring; Smoke and carbon monoxide detectors
• Laundry & utility: Laundry on upper level

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $284k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $268k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (16.4% below list).
• Recommended offer: $238k (16.4% below list) — sets the bar for 1% rule.

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: amenities F, commute F, health & safety F.
• Zoned schools: Henryville Elementary School (math 30% / reading 33%, grade F, #678 of 994 statewide, top 68%, 647 students, 43% FRL); Henryville Jr & Sr High School (math 29% / reading 45%, grade F, #247 of 369 statewide, top 70%, 461 students, 32% FRL).
• 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 49 days — a 3% lower offer ($276k) 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 $237,839 (16.4% 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 49 days. Have you received any prior offers? Is the seller open to a 16% 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 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?
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: 0.84% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.75%
• DSCR: 0.92
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $277,932
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2061 Derby Way	0.17mi	4/2.5	2,014 (0%)	1mo	$277,990	$138	91
1008 Legend Ct	0.15mi	4/2.5	2,014 (0%)	3mo	$259,990	$129	90
2068 Derby Way	0.12mi	4/2.5	2,014 (0%)	6mo	$264,991	$132	90
2014 Derby Way	0.12mi	4/2.5	1,953 (-3%)	3mo	$279,900	$143	87
2013 Derby Way	0.17mi	4/2.5	2,053 (+2%)	2mo	$299,900	$146	87
2060 Derby Way	0.12mi	5/3.0 (+1)	2,180 (+8%)	1mo	$289,990	$133	73
2074 Derby Way	0.12mi	5/3.0 (+1)	2,180 (+8%)	4mo	$279,990	$128	70
2072 Derby Way	0.12mi	5/3.0 (+1)	2,180 (+8%)	6mo	$284,991	$131	69
1024 Legend Ct	0.16mi	5/3.0 (+1)	2,180 (+8%)	6mo	$266,491	$122	67
1014 Legend Ct	0.12mi	4/3.0	1,774 (-12%)	8mo	$254,991	$144	66
1010 Legend Ct	0.14mi	4/3.0	1,774 (-12%)	7mo	$249,991	$141	66
2019 Derby Way	0.17mi	4/2.0	1,771 (-12%)	5mo	$278,975	$158	66

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: -19.2%
• Equity multiple: 0.33×
• Total profit: $-53,442
• Equity at exit: $42,418

10-year hold

• IRR: -11.7%
• Equity multiple: 0.30×
• Total profit: $-55,841
• Equity at exit: $24,597

Cash invested: $79,657 (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: 10.0×

Monthly cashflow live

• Estimated rent: $2,378 medium
• Mortgage (P&I): −$1,492
• Tax est. 1.5%: −$356 /mo · $4,267/yr
• Insurance: −$119
• HOA: −$29
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $-116

Break-even live

Break-even rent $2,525

Max offer price $267,687

Occupancy floor 100%

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: $71,122
• Closing costs: $8,535
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $29 · $348/yr

Listing history 15 events

1. 2026-06-18
   days on market $284,490 Active 49 DOM
2. 2026-06-17
   days on market $284,490 Active 48 DOM
3. 2026-06-16
   days on market $284,490 Active 47 DOM
4. 2026-06-15
   days on market $284,490 Active 46 DOM
5. 2026-06-13
   days on market $284,490 Active 44 DOM
6. 2026-06-10
   pricedays on market $284,490 Active 41 DOM
7. 2026-06-09
   days on market $286,490 Active 40 DOM
8. 2026-06-08
   days on market $286,490 Active 39 DOM
9. 2026-06-07
   days on market $286,490 Active 38 DOM
10. 2026-06-03
    days on market $286,490 Active 34 DOM
11. 2026-06-02
    days on market $286,490 Active 33 DOM
12. 2026-06-01
    days on market $286,490 Active 32 DOM
13. 2026-05-31
    days on market $286,490 Active 31 DOM
14. 2026-05-06
    listed $284,490 Active 680-char remark

    Show marketing remark (680 chars)

    Welcome home to our Essex plan. The open-concept main floor features a spacious family room that flows seamlessly into the dining area and modern kitchen. The kitchen shines with granite countertops, stainless steel appliances, and white shaker-style cabinetry. Upstairs, you'll find a spacious owner's suite complete with a walk-in closet and a private bath featuring dual vanities. Three additional bedrooms with walk-in closets provide plenty of room for family or guests. The versatile downstairs flex space, half bathroom, and upstairs laundry room allow for added comfort and convenience. From cozy nights in to hosting, this home delivers comfort, functionality, and value.

15. 2026-04-30
    listed $284,490 Active

ⓘ 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: $28,541
• − Mortgage interest: −$15,936
• − Property taxes: −$4,267
• − Insurance: −$1,422
• − Repairs & maintenance: −$2,283
• − Management: −$2,283
• − HOA: −$348
• − Depreciation: −$8,276
• Taxable loss: −$6,276
• Est. tax savings @ 24.0%: +$1,506
• After-tax cash flow: $113/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 · 12 photos

Good 80/100 Cosmetic rehab

This home is in good condition with a good condition score of 80. It has a cosmetic rehab level and requires minimal repairs or maintenance. The highest-ROI updates that would raise its value include painting the exterior siding, updating the flooring in the bathrooms, upgrading the kitchen appliances, and adding smart home features.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Updating the flooring in the bathrooms — Modernizes the bathrooms and improves aesthetics.
• Both Upgrading the kitchen appliances — Modernizes the kitchen and can increase both resale and rental value.
• Both Adding smart home features — Enhances convenience and can increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Updating the flooring in the bathrooms — Modernizes the bathrooms and improves aesthetics. ↑
• Both Upgrading the kitchen appliances — Modernizes the kitchen and can increase both resale and rental value. ↑
• Both Adding smart home features — Enhances convenience and can increase both resale and rental value. ↑

ⓘ 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

+0.0% since first listed

2 events — show timeline

• 2026-05-06 Listed $284,490 Zillow
• 2026-04-30 Listed $284,490 IRMLS