3215 Village Park North Dr · Westfield, IN 46033

$315,000

3 bd · 2.0 ba · 1,462 sqft · SingleFamily public records · 3 Days on market

Built 1990 8,712 sqft lot Est $320k · at est. $26/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 +8.2/15.0
• Schools +5.5/10.0
• Rent growth +4.6/5.0
• Livability +3.6/5.0
• DSCR +3.2/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 3 bedroom 2 full bath ranch. This open floor plan features a ceramic fireplace, vaulted ceiling in great room which extends to the kitchen. The spacious primary bedroom offers a nice walk-in closet. Be sure to check out the screened-in porch that overlooks the large back yard. Shopping, restaurants and more just minutes away. Welcome home!

Key facts

• Updated lvp flooring
• Walk in closet
• Granite countertops

Tags

• UPDATED LVP FLOORING
• WOOD BURNING FIREPLACE
• GRANITE COUNTERTOPS
• TILE BACKSPLASH
• STAINLESS STEEL APPLIANCES
• WALK IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $-126 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $293k (7.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (22.7% below list).
• Recommended offer: $243k (22.7% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.0% in Westfield — 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 71/100 on livability (#140 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Westfield-Washington Schools (suburban): math 58% / reading 64% proficiency, ranked #10 of 301 in IN (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Carey Ridge Elementary School (math 73% / reading 63%, grade B+, #49 of 994 statewide, top 5%, 635 students, 22% FRL); Westfield High School (math 61% / reading 85%, grade B+, #8 of 369 statewide, top 2%, 2,665 students, 18% FRL).
• Market conditions: Rents rising fast (+8.4%/yr); 193 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 4,661 units permitted in Hamilton County in 2024 (1,528 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.
• Hamilton County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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.

Recommended offer $243,453 (22.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.77% ✗
• Cap rate: 5.81%
• Cash-on-cash: -1.72%
• DSCR: 0.92
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $320,178
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3215 Village Park North Dr	0.00mi	3/2.0	1,462 (0%)	1mo	$320,000	$219	100
14610 Village Park Dr E	0.19mi	3/2.0	1,460 (-0%)	5mo	$312,000	$214	87
3239 Village Park North Dr	0.03mi	3/2.0	1,314 (-10%)	1mo	$300,000	$228	81
3122 Village Park North Dr	0.06mi	3/2.0	1,296 (-11%)	3mo	$275,000	$212	76
14910 Mia Dr	0.43mi	3/2.0	1,456 (-0%)	6mo	$317,000	$218	74
14741 Village Park East Dr	0.07mi	3/2.0	1,269 (-13%)	2mo	$279,400	$220	73
3145 Village Park Dr N	0.03mi	2/2.0 (-1)	1,304 (-11%)	5mo	$295,000	$226	71
15015 Silver Thorne Way	0.50mi	3/2.0	1,540 (+5%)	2mo	$250,000	$162	66
14923 Silver Thorne Way	0.45mi	3/2.0	1,344 (-8%)	4mo	$320,000	$238	62
14928 Oak Rd	0.56mi	3/2.0	1,540 (+5%)	8mo	$315,000	$205	59
14906 Mia Dr	0.45mi	3/2.0	1,620 (+11%)	8mo	$330,000	$204	54
2533 Copper Tree Way	0.50mi	3/2.0	1,272 (-13%)	2mo	$323,000	$254	53

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.48×
• Total profit: $-46,270
• Equity at exit: $46,968

10-year hold

• IRR: 1.0%
• Equity multiple: 1.09×
• Total profit: $7,732
• Equity at exit: $27,235

Cash invested: $88,200 (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 46033

• Rents YoY: 8.4%
• Active inventory: 193
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,435 medium
• Mortgage (P&I): −$1,652
• Tax from tax record: −$241 /mo · $2,886/yr
• Insurance: −$131
• HOA: −$26
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $-126

Break-even live

Break-even rent $2,595

Max offer price $292,670

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2223 E 151st St Carmel, IN	1.0–3.0	1.0–3.0	1026	$1,974	$1.92	2d	20	0.61mi

HOA detail

• Monthly dues: $26 · $312/yr

Listing history 10 events

1. 2026-04-19
   status Pending
2. 2026-04-16
   listed $315,000 Active
3. 2023-06-27
   soldstatus $290,000
4. 2023-06-16
   soldstatus $290,000 Closed 357-char remark

   Show marketing remark (357 chars)

   Welcome to this 3 bedroom 2 full bath ranch. This open floor plan features a ceramic fireplace, vaulted ceiling in great room which extends to the kitchen. The spacious primary bedroom offers a nice walk-in closet. Be sure to check out the screened-in porch that overlooks the large back yard. Shopping, restaurants and more just minutes away. Welcome home!

5. 2023-05-19
   status Pending 357-char remark

   Show marketing remark (357 chars)

   Welcome to this 3 bedroom 2 full bath ranch. This open floor plan features a ceramic fireplace, vaulted ceiling in great room which extends to the kitchen. The spacious primary bedroom offers a nice walk-in closet. Be sure to check out the screened-in porch that overlooks the large back yard. Shopping, restaurants and more just minutes away. Welcome home!

6. 2023-05-12
   listed $299,900 Active 357-char remark

   Show marketing remark (357 chars)

   Welcome to this 3 bedroom 2 full bath ranch. This open floor plan features a ceramic fireplace, vaulted ceiling in great room which extends to the kitchen. The spacious primary bedroom offers a nice walk-in closet. Be sure to check out the screened-in porch that overlooks the large back yard. Shopping, restaurants and more just minutes away. Welcome home!

7. 2015-09-16
   soldstatus $124,000 Sold 123-char remark

   Show marketing remark (123 chars)

   PROPERTY FEATURES A CERAMIC FIREPLACE, 9X15 SCREENED- IN PORCH, AND VAULTED CEILING BETWEEN THE KITCHEN AND THE GREAT ROOM.

8. 2015-09-02
   status Pending 123-char remark

   Show marketing remark (123 chars)

   PROPERTY FEATURES A CERAMIC FIREPLACE, 9X15 SCREENED- IN PORCH, AND VAULTED CEILING BETWEEN THE KITCHEN AND THE GREAT ROOM.

9. 2015-08-21
   status Pending 123-char remark

   Show marketing remark (123 chars)

   PROPERTY FEATURES A CERAMIC FIREPLACE, 9X15 SCREENED- IN PORCH, AND VAULTED CEILING BETWEEN THE KITCHEN AND THE GREAT ROOM.

10. 2015-08-19
    listed $129,000 Active 123-char remark

    Show marketing remark (123 chars)

    PROPERTY FEATURES A CERAMIC FIREPLACE, 9X15 SCREENED- IN PORCH, AND VAULTED CEILING BETWEEN THE KITCHEN AND THE GREAT ROOM.

ⓘ 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: $2,886 · $241/mo
• Projected year-2 tax: $2,886 · $241/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

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

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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,214
• − Mortgage interest: −$17,645
• − Property taxes: −$2,886
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,337
• − Management: −$2,337
• − HOA: −$312
• − Depreciation: −$9,164
• Taxable loss: −$7,042
• Est. tax savings @ 24.0%: +$1,690
• After-tax cash flow: $173/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: Westfield-Washington Schools
• NCES district ID: 1813080
• Math proficiency: 58% ▼ -9.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $82,682
• Composite: 55.01/100
• National rank: #1295
• State rank: #10 of 301 in IN

Livability — Westfield

• Score: 71/100
• State rank: #140
• US rank: #7263

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westfield, IN
• County: Hamilton County · 337,479 people
• City population: 48,901
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 40,881
• Household income: $153,143
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 378.0

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 381,938 people
• By 2030: 417,496 · +9.3%
• By 2040: 486,684 · +27.4%
• By 2050: 549,805 · +44.0%
• By 2075: 687,078 · +79.9%
• By 2100: 754,495 · +97.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Asian 8% Two or more races 8% Hispanic / Latino 7% Black 2%
• Hispanic origin (detail): Mexican 3% Salvadoran 1%
• Common ancestry: Romanian 4% Italian 3% Lithuanian 2%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% Chinese 3% Other Asian/Pacific 1%

Political lean MEDSL · Hamilton

• 2024 margin: Lean R (+6.1) · D 46.0% · R 52.1% · Other 1.9%
• 2008→2024 swing: +16.2pp toward D · 2008: -22.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+6.8 2016: R+19.6 2012: R+34.3 2008: R+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.29%
• Current HPI: 226.6783
• Rent YoY: ▲ 8.44%
• 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

+144.2% since first listed

10 events — show timeline

• 2026-04-19 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-16 Listed $315,000 MIBOR as Distributed by MLS Grid
• 2023-06-27 Sold (Public Records) $290,000 Public Records
• 2023-06-16 Sold (MLS) $290,000 MIBOR as Distributed by MLS Grid
• 2023-05-19 Pending — MIBOR as Distributed by MLS Grid
• 2023-05-12 Listed $299,900 MIBOR as Distributed by MLS Grid
• 2015-09-16 Sold (MLS) $124,000 MIBOR as Distributed by MLS Grid
• 2015-09-02 Pending — MIBOR as Distributed by MLS Grid
• 2015-08-21 Pending — MIBOR as Distributed by MLS Grid
• 2015-08-19 Listed $129,000 MIBOR as Distributed by MLS Grid

Property tax history

+0.8%/yr

Latest (2025): $2,886 · -6.7% YoY. Source: county tax records.