1131 E Sixth St · Greenfield, IN 46140

$175,000

3 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 12 Days on market

Built 1972 Est $210k · 17% under

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Why this score? — see what drove the C+ 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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.6/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute 3BR home on quiet street in Greenfield. 2 car detached garage. Check out the low taxes. Cheaper than rent.

Key facts

• Roof is newer
• Built 1972
• Listed 12 days

Tags

• ROOF IS NEWER
• TRANSFERRABLE WARRANTY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (3.8% below list).
• Recommended offer: $168k (3.8% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 4.4% in Greenfield — 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 (#88 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: amenities F, commute F.
• Greenfield-Central Community Schools (other): math 47% / reading 45% proficiency, ranked #83 of 301 in IN (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 481 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 20y ago 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.
• Current owner paid $42k; list at $175k implies a 317% gain — meaningful room to come down on a strong offer.

Recommended offer $168,380 (3.8% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 8.02%
• Cash-on-cash: 6.17%
• DSCR: 1.27
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $210,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1214 E Third St	0.17mi	3/1.0	1,080 (-10%)	0mo	$125,000	$116	75
923 N Mill Run Blvd	0.28mi	3/2.0	1,286 (+7%)	5mo	$225,000	$175	67
1033 E 3rd St	0.21mi	3/2.0	1,328 (+11%)	3mo	$106,500	$80	66
1525 Carlton Dr	0.45mi	3/2.0	1,250 (+4%)	4mo	$215,000	$172	65
1625 Willowview Ln	0.49mi	3/2.0	1,236 (+3%)	5mo	$215,000	$174	64
319 Brookstone Dr	0.45mi	3/2.0	1,110 (-8%)	2mo	$237,500	$214	61
1616 Sweetwater Ln	0.48mi	3/2.0	1,110 (-8%)	1mo	$235,000	$212	61
1629 Carlton Dr	0.51mi	3/2.0	1,250 (+4%)	9mo	$235,900	$189	58
1647 Sweetwater Ln	0.50mi	3/2.0	1,110 (-8%)	6mo	$229,900	$207	55
121 Apple St	0.29mi	3/2.0	1,356 (+13%)	10mo	$215,000	$159	52
560 Runnymede Ct	0.64mi	3/2.0	1,363 (+14%)	0mo	$235,000	$172	43
1652 Sweetwater Ln	0.51mi	2/2.0 (-1)	1,022 (-15%)	10mo	$200,000	$196	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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-12,578
• Equity at exit: $26,093

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $8,644
• Equity at exit: $15,131

Cash invested: $49,000 (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 46140

• Rents YoY: 2.9%
• Active inventory: 481
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,684 high
• Mortgage (P&I): −$918
• Tax from tax record: −$88 /mo · $1,053/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $252

Break-even live

Break-even rent $1,365

Max offer price $175,000

Occupancy floor 80%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1027 E Fourth St Greenfield, IN	3.0	2.0	1430	$1,700	$1.19	23d	1	0.14mi
1014 E Seventh St Greenfield, IN	3.0	1.0	1192	$1,400	$1.17	4d	1	0.15mi
210 Flagstone Dr Greenfield, IN	1.0–3.0	1.0–2.5	1084	$2,254	$2.08	1d	17	0.29mi
432 Baldwin St Greenfield, IN	2.0	1.0	788	$1,425	$1.81	23d	1	0.48mi
917 E McKenzie Rd Greenfield, IN	1.0–2.0	1.0–1.5	918	$1,199	$1.31	1d	4	0.59mi
550 Wood St Greenfield, IN	2.0	1.0	1162	$1,200	$1.03	3d	1	0.60mi
220 Walker St Greenfield, IN	3.0	1.0	1101	$1,400	$1.27	4d	1	0.76mi
685 Gondola Run Greenfield, IN	3.0	2.0	1058	$1,750	$1.65	1d	1	1.04mi
1439 Coachlite Dr Unit Coachlite Greenfield, IN	3.0	1.5	1147	$1,495	$1.30	23d	1	1.39mi
821 W 7th St Greenfield, IN	2.0	2.0	1234	$1,700	$1.38	23d	1	1.46mi

Listing history 10 events

1. 2026-06-18
   days on market $175,000 Active 12 DOM
2. 2026-06-17
   days on market $175,000 Active 11 DOM
3. 2026-06-16
   days on market $175,000 Active 10 DOM
4. 2026-06-15
   days on market $175,000 Active 9 DOM
5. 2026-06-13
   days on market $175,000 Active 7 DOM
6. 2026-06-13
   days on market $175,000 Active 6 DOM
7. 2026-06-09
   days on market $175,000 Active 3 DOM
8. 2026-06-08
   days on market $175,000 Active 2 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $175,000 Active 1 DOM

ⓘ 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: $1,053 · $88/mo
• Projected year-2 tax: $1,270 · $106/mo
• Expected delta: +$217/yr (+$18/mo · 20.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,206
• − Mortgage interest: −$9,803
• − Property taxes: −$1,053
• − Insurance: −$875
• − Repairs & maintenance: −$1,616
• − Management: −$1,616
• − Depreciation: −$5,091
• Taxable income: $151
• Est. tax owed @ 24.0%: −$36
• After-tax cash flow: $2,986/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: Greenfield-Central Community Schools
• NCES district ID: 1804050
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $55,533
• Composite: 40.01/100
• National rank: #3827
• State rank: #83 of 301 in IN

Livability — Greenfield

• Score: 73/100
• State rank: #88
• US rank: #5094

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: Greenfield, IN
• County: Hancock County · 59,521 people
• City population: 43,511
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 43,511
• Household income: $83,056
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 795.0

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.67%
• Current HPI: 225.0367
• Rent YoY: ▲ 2.88%
• 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

+288.9% since first listed

8 events — show timeline

• 2026-06-07 Listed $175,000 FSBO.com
• 2009-05-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-05-22 Sold (MLS) $42,000 MIBOR as Distributed by MLS Grid
• 2008-08-13 Listed $56,000 MIBOR as Distributed by MLS Grid
• 2006-09-22 Sold (MLS) $78,000 MIBOR as Distributed by MLS Grid
• 2006-07-18 Listed $79,900 MIBOR as Distributed by MLS Grid
• 2006-05-01 Sold (MLS) $39,500 MIBOR as Distributed by MLS Grid
• 2006-02-17 Listed $45,000 MIBOR as Distributed by MLS Grid

Property tax history

+10.0%/yr

Latest (2025): $1,053 · -7.2% YoY. Source: county tax records.