2694 Smith Rd · Plainfield, IN 46168

$325,355

3 bd · 2.5 ba · 1,647 sqft · Townhouse · 20 Days on market

Built 2026 Poor condition 2,707 sqft lot $198/sqft · 11% below area Est $357k · 9% under $147/mo HOA · 6% of rent

---

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 +11.4/15.0
• Cash flow +7.5/30.0
• Schools +4.7/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• 1% rule +2.8/10.0
• DSCR +1.7/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Meet the Wren. There is a certain kind of buyer who has earned the right to stop overthinking every decision about their home. The Wren was designed with that person in mind. This is a home where the details have already been worked out for you. Quartz countertops in the kitchen and bathrooms bring a clean, timeless look that holds up to real daily use. No sealing, no fussing, no second-guessing. Just a beautiful surface that stays that way. The three-bedroom layout is generous without feeling oversized. The owner's suite offers the privacy and comfort of a true personal retreat, complete with an en-suite bathroom that makes the start and end of every day feel a little more yours. The additional bedrooms adapt easily to whatever your life calls for right now, a space for guests, a dedicated place to work from home, or simply a room that grows with your needs over time. Outside, the private patio gives you a place to exhale. It is tucked away enough to feel like a retreat and open enough to welcome the people you want to share it with. The landscaping carries that same low-maintenance philosophy throughout, so your weekends stay yours. Pulling into the two-car garage at the end of the day, you will appreciate how much thought went into making daily life feel effortless here. The Wren is built by Olthof Homes, a family-owned builder with over 60 years of experience crafting homes and communities across Indiana. Want to experience the Wren for yourself? Schedule a tour today.

Key facts

• Quartz countertops
• Private patio
• $147 HOA

Tags

• QUARTZ COUNTERTOPS
• PRIVATE PATIO
• THOUGHTFUL LANDSCAPING

Property features AI

Finance

• Other: GPS-friendly directions
• HOA & community: Mandatory HOA with monthly fee; HOA fee $147 per month

Exterior

• Parking: Detached 2-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer; Municipal solid waste services
• Home design: Residential townhouse; Attached property; Two levels; New construction by Olthof Homes; Entry on main level
• Construction: Stone construction; Slab foundation
• Exterior features: Suburban setting; Lot under 1/4 acre

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Gas oven; Refrigerator; Kitchen island; Breakfast bar; Pantry
• Bedrooms: Three upper-level bedrooms; Primary bedroom with walk-in closet
• Bathrooms: Two full bathrooms; One half bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Breakfast bar; Pantry; Kitchen island; Walk-in closets; Smoke detector(s)
• Laundry & utility: Washer; Dryer; Tankless water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $325k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-399 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $268k (17.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $253k (22.3% below list).
• Recommended offer: $253k (22.3% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.7% in Plainfield — 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 74/100 on livability (#69 in IN, #4,418 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Avon Community School Corporation (suburban): math 51% / reading 53% proficiency, ranked #32 of 301 in IN (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Avon High School (math 44% / reading 76%, grade C+, #46 of 369 statewide, top 13%, 3,348 students, 38% FRL) — zoned schools average 38% FRL vs 20% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 284 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).
• This rent runs 34% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 20 days — a 2% lower offer ($320k) 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 $252,752 (22.3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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: 0.78% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.25%
• DSCR: 0.77
• GRM: 10.7

CMA / ARV

• ARV (median comp): $356,605
• List price: $325,355
• Delta: -8.76%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2643 Marjorie Ln	0.13mi	3/2.5	1,607 (-2%)	2mo	$288,400	$179	88
2650 Marjorie Ln	0.16mi	3/2.5	1,607 (-2%)	2mo	$293,510	$183	87
2670 Marjorie Ln	0.13mi	3/2.0	1,415 (-14%)	3mo	$279,000	$197	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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: -24.4%
• Equity multiple: 0.16×
• Total profit: $-76,324
• Equity at exit: $48,511

10-year hold

• IRR: -17.9%
• Equity multiple: -0.01×
• Total profit: $-91,721
• Equity at exit: $28,131

Cash invested: $91,099 (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 46168

• Rents YoY: 3.6%
• Active inventory: 284
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,528 high
• Mortgage (P&I): −$1,706
• Tax est. 1.5%: −$407 /mo · $4,880/yr
• Insurance: −$136
• HOA: −$147
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $-399

Break-even live

Break-even rent $3,032

Max offer price $267,660

Occupancy floor —

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: $81,339
• Closing costs: $9,761
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2514 Grand Central BLVD Cartersburg, IN	1.0–3.0	1.0–2.5	1324	$3,499	$2.64	1d	283	0.08mi
2870 Pearson Pkwy Plainfield, IN	3.0	1.0–2.0	918	$2,199	$2.40	17d	18	0.14mi
9074 Anthem Ave Plainfield, IN	3.0	2.5	1722	$2,450	$1.42	1d	1	0.20mi
311 Harpers Xing Plainfield, IN	1.0–3.0	1.0–1.5	882	$1,350	$1.53	11d	8	0.63mi
2155 Shadowbrook Dr Unit 1228635P Plainfield, IN	3.0	2.0	1560	$2,856	$1.83	7d	1	0.77mi
2145 Shadowbrook Dr Plainfield, IN	3.0	2.0	1408	$2,100	$1.49	2d	1	0.78mi
8151 Lupine Dr Plainfield, IN	3.0	2.5	2003	$2,450	$1.22	43d	1	0.85mi
311 Country Ln Plainfield, IN	1.0–4.0	1.0–2.0	1055	$1,620	$1.54	1d	9	0.87mi
584 Stone Table Blvd Plainfield, IN	1.0–2.0	1.0–2.0	1168	$2,295	$1.96	1d	5	0.92mi
1995 Crown Plaza Blvd Plainfield, IN	1.0–3.0	1.0–2.0	924	$1,700	$1.84	1d	5	0.92mi
8325 Bluestem Ln Plainfield, IN	4.0	2.5	2160	$2,495	$1.16	22d	1	0.94mi
2471 Ascent Way Plainfield, IN	1.0–3.0	1.0–2.0	997	$2,240	$2.25	1d	23	1.02mi
2650 Creekhollow Rd Plainfield, IN	1.0–3.0	1.0–2.0	1011	$2,338	$2.31	2d	24	1.09mi
2720 Canyon Club Dr Plainfield, IN	1.0–3.0	1.0–2.0	1077	$1,862	$1.73	2d	21	1.19mi
10408 Bradbury Dr Indianapolis, IN	4.0	2.0	1712	$1,691	$0.99	12d	1	1.37mi

HOA detail

• Monthly dues: $147 · $1,764/yr
• Likely covers: landscaping

Listing history 14 events

1. 2026-06-18
   days on market $325,355 Active 20 DOM
2. 2026-06-17
   days on market $325,355 Active 19 DOM
3. 2026-06-16
   days on market $325,355 Active 18 DOM
4. 2026-06-15
   days on market $325,355 Active 17 DOM
5. 2026-06-13
   days on market $325,355 Active 15 DOM
6. 2026-06-13
   days on market $325,355 Active 14 DOM
7. 2026-06-09
   days on market $325,355 Active 11 DOM
8. 2026-06-08
   days on market $325,355 Active 10 DOM
9. 2026-06-07
   days on market $325,355 Active 9 DOM
10. 2026-06-03
    days on market $325,355 Active 5 DOM
11. 2026-06-02
    days on market $325,355 Active 4 DOM
12. 2026-06-01
    days on market $325,355 Active 3 DOM
13. 2026-05-31
    days on market $325,355 Active 2 DOM
14. 2026-05-03
    listed $325,355 Active 1497-char remark

    Show marketing remark (1497 chars)

    Meet the Wren. There is a certain kind of buyer who has earned the right to stop overthinking every decision about their home. The Wren was designed with that person in mind. This is a home where the details have already been worked out for you. Quartz countertops in the kitchen and bathrooms bring a clean, timeless look that holds up to real daily use. No sealing, no fussing, no second-guessing. Just a beautiful surface that stays that way. The three-bedroom layout is generous without feeling oversized. The owner's suite offers the privacy and comfort of a true personal retreat, complete with an en-suite bathroom that makes the start and end of every day feel a little more yours. The additional bedrooms adapt easily to whatever your life calls for right now, a space for guests, a dedicated place to work from home, or simply a room that grows with your needs over time. Outside, the private patio gives you a place to exhale. It is tucked away enough to feel like a retreat and open enough to welcome the people you want to share it with. The landscaping carries that same low-maintenance philosophy throughout, so your weekends stay yours. Pulling into the two-car garage at the end of the day, you will appreciate how much thought went into making daily life feel effortless here. The Wren is built by Olthof Homes, a family-owned builder with over 60 years of experience crafting homes and communities across Indiana. Want to experience the Wren for yourself? Schedule a tour today.

ⓘ 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 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: $30,330
• − Mortgage interest: −$18,225
• − Property taxes: −$4,880
• − Insurance: −$1,627
• − Repairs & maintenance: −$2,426
• − Management: −$2,426
• − HOA: −$1,764
• − Depreciation: −$9,465
• Taxable loss: −$10,484
• Est. tax savings @ 24.0%: +$2,516
• After-tax cash flow: $-2,269/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 · 2 photos

Poor 20/100 Extensive rehab

This property is a new construction home with no visible wear and tear, but it requires extensive repairs and improvements to its roof, exterior, interior, HVAC, and landscaping to become move-in ready.

Repairs flagged

• Major roof — No roof structure is visible in the independent aerial image.
• Major exterior — No visible exterior structure or landscaping is present.
• Major interior — No interior photos are provided, but the listing remarks suggest a new construction home with no visible wear and tear.
• Major HVAC/mechanicals — No HVAC or mechanical photos are provided.
• Major landscaping — No landscaping or curb appeal photos are provided.

Value-add opportunities

• Both Landscaping and curb appeal — Enhances the home's aesthetic and curb appeal, attracting more buyers and renters.
• Both HVAC and mechanical systems — Ensures the home is energy-efficient and comfortable, attracting more buyers and renters.
• Both Interior finishes — Improves the home's interior, making it more attractive and functional for buyers and renters.
• Both Exterior structure and siding — Ensures the home's structural integrity and exterior appearance, attracting more buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · No roof structure is visible in the independent aerial image.	Major	$15,000–50,000
exterior · No visible exterior structure or landscaping is present.	Major	$15,000–50,000
interior · No interior photos are provided, but the listing remarks suggest a new construction home with no visible wear and tear.	Major	$15,000–50,000
HVAC/mechanicals · No HVAC or mechanical photos are provided.	Major	$15,000–50,000
landscaping · No landscaping or curb appeal photos are provided.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Landscaping and curb appeal — Enhances the home's aesthetic and curb appeal, attracting more buyers and renters. ↑
• Both HVAC and mechanical systems — Ensures the home is energy-efficient and comfortable, attracting more buyers and renters. ↑
• Both Interior finishes — Improves the home's interior, making it more attractive and functional for buyers and renters. ↑
• Both Exterior structure and siding — Ensures the home's structural integrity and exterior appearance, attracting more buyers and renters. ↑

ⓘ 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)

• District: Avon Community School Corporation
• NCES district ID: 1800270
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 53% ▼ -8.00%
• Median HH income: $75,987
• Composite: 46.93/100
• National rank: #2362
• State rank: #32 of 301 in IN

Livability — Plainfield

• Score: 74/100
• State rank: #69
• US rank: #4418

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plainfield, IN
• County: Hendricks County · 143,373 people
• City population: 38,826
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 38,826
• Household income: $90,000
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1029.0

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 (76%)
• Race & ethnicity: White 76% Black 9% Two or more races 8% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Lithuanian 1% Romanian 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -136.23%
• Current HPI: 205.5963
• Rent YoY: ▲ 3.65%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-29 Listed $325,355 MIBOR as Distributed by MLS Grid
• 2026-05-03 Listed $325,355 Zillow