Tuscany Plan · Westfield, IN 46074

$379,990

3 bd · 2.0 ba · 1,974 sqft · MultiFamily · 390 Days on market

Good condition ↓ 3% since listing

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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 +18.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +5.5/10.0
• 1% rule +4.8/10.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

The Tuscany villa plan offers comfortable main-level living with a first-floor primary bedroom and open-concept living and dining areas. Perfect for hobbies or hosting guests, the upstairs includes a bedroom, loft, and optional third bathroom, giving you the flexibility to make the space your own.

Key facts

• 2 garage spots
• Listed 390 days

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $380k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $325 ($4k/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 $374k (1.7% below list).
• Recommended offer: $334k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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.
• Market conditions: Rents rising fast (+4.3%/yr); 801 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 4,661 units permitted in Hamilton County in 2024 (1,528 in 5+ unit buildings).
• This rent runs 35% of the median local income ($127k/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 $3k of loan paydown is wiped out by about $11k 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

• It's been on market 390 days — a 12% lower offer ($334k) 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 $334,391 (12.0% below list)

Questions for the listing agent

1. It's been on market 390 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.32%
• Cash-on-cash: 3.66%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.26% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.66×
• Total profit: $-36,049
• Equity at exit: $56,658

10-year hold

• IRR: 2.0%
• Equity multiple: 1.15×
• Total profit: $15,647
• Equity at exit: $32,855

Cash invested: $106,397 (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 46074

• Rents YoY: 4.3%
• Active inventory: 801
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $3,735 high
• Mortgage (P&I): −$1,993
• Tax est. 1.5%: −$475 /mo · $5,700/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$784
• Net cashflow: $325

Break-even live

Break-even rent $3,324

Max offer price $379,990

Occupancy floor 86%

Sensitivity live

Price	-10% $587	-5% $456	+0% $325	+5% $193	+10% $62
Rent	-10% $30	-5% $177	+0% $325	+5% $472	+10% $620
Rate	-1.0pp $516	-0.5pp $421	base $325	+0.5pp $226	+1.0pp $126

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,868
1× unit	2	1	$1,868
Total (2 units)			$3,735

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: $94,998
• Closing costs: $11,400
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18237 Tempo Blvd Westfield, IN	1.0–3.0	1.0–2.0	1034	$2,439	$2.36	2d	78	0.64mi
960 Charlestowne Rd Unit 118399--106 Westfield, IN	3.0	2.0	1335	$2,170	$1.63	44d	1	0.75mi
835 Virginia Rose Ave Westfield, IN	3.0	2.0	739	$2,299	$3.11	2d	61	0.78mi
18183 Wheeler Rd Westfield, IN	1.0–2.0	1.0–2.0	998	$2,559	$2.56	2d	48	0.83mi
717 Crispin Ln Westfield, IN	3.0	2.0	1613	$2,400	$1.49	44d	1	0.96mi
19319 Winter Wheat Ln Westfield, IN	3.0	2.5	1858	$2,395	$1.29	24d	1	1.06mi
292 South Dr Westfield, IN	3.0	2.0	1200	$1,629	$1.36	2d	1	1.11mi
17361 Graley Pl Westfield, IN	3.0	2.5	1512	$2,500	$1.65	8d	1	1.12mi
404 E Pine Ridge Dr Westfield, IN	3.0	2.5	1726	$3,250	$1.88	44d	1	1.15mi
17330 Graley Pl Westfield, IN	3.0	3.0	2383	$3,500	$1.47	44d	1	1.19mi
459 Vernon Pl Westfield, IN	4.0	2.5	1968	$3,750	$1.91	44d	1	1.33mi
17995 Cunning Ct Westfield, IN	3.0	2.5	1738	$2,350	$1.35	2d	6	1.34mi
19530 Chad Hittle Dr Westfield, IN	1.0–3.0	1.0–2.0	1009	$2,450	$2.43	2d	27	1.46mi
218 W Main St Westfield, IN	4.0	2.5	1872	$2,495	$1.33	44d	1	1.48mi

Listing history 24 events

1. 2026-06-18
   days on market $379,990 Active 390 DOM
2. 2026-06-17
   days on market $379,990 Active 389 DOM
3. 2026-06-16
   days on market $379,990 Active 388 DOM
4. 2026-06-15
   days on market $379,990 Active 387 DOM
5. 2026-06-13
   days on market $379,990 Active 385 DOM
6. 2026-06-13
   days on market $379,990 Active 384 DOM
7. 2026-06-09
   days on market $379,990 Active 381 DOM
8. 2026-06-08
   days on market $379,990 Active 380 DOM
9. 2026-06-07
   days on market $379,990 Active 379 DOM
10. 2026-06-05
    days on market $379,990 Active 376 DOM
11. 2026-06-03
    days on market $379,990 Active 375 DOM
12. 2026-06-02
    days on market $379,990 Active 374 DOM
13. 2026-06-02
    price $379,990 Active 373 DOM
14. 2026-06-01
    days on market $377,990 Active 373 DOM
15. 2026-05-31
    days on market $377,990 Active 372 DOM
16. 2026-05-02
    price $377,990 298-char remark

    Show marketing remark (298 chars)

    The Tuscany villa plan offers comfortable main-level living with a first-floor primary bedroom and open-concept living and dining areas. Perfect for hobbies or hosting guests, the upstairs includes a bedroom, loft, and optional third bathroom, giving you the flexibility to make the space your own.

17. 2026-03-04
    price $374,990 298-char remark

    Show marketing remark (298 chars)

    The Tuscany villa plan offers comfortable main-level living with a first-floor primary bedroom and open-concept living and dining areas. Perfect for hobbies or hosting guests, the upstairs includes a bedroom, loft, and optional third bathroom, giving you the flexibility to make the space your own.

18. 2026-03-02
    price $397,990 298-char remark

    Show marketing remark (298 chars)

    The Tuscany villa plan offers comfortable main-level living with a first-floor primary bedroom and open-concept living and dining areas. Perfect for hobbies or hosting guests, the upstairs includes a bedroom, loft, and optional third bathroom, giving you the flexibility to make the space your own.

19. 2026-02-03
    price $394,990 298-char remark

    Show marketing remark (298 chars)

    The Tuscany villa plan offers comfortable main-level living with a first-floor primary bedroom and open-concept living and dining areas. Perfect for hobbies or hosting guests, the upstairs includes a bedroom, loft, and optional third bathroom, giving you the flexibility to make the space your own.

20. 2026-01-02
    price $393,990 298-char remark

    Show marketing remark (298 chars)

    The Tuscany villa plan offers comfortable main-level living with a first-floor primary bedroom and open-concept living and dining areas. Perfect for hobbies or hosting guests, the upstairs includes a bedroom, loft, and optional third bathroom, giving you the flexibility to make the space your own.

21. 2025-12-10
    price $392,990 298-char remark

    Show marketing remark (298 chars)

    The Tuscany villa plan offers comfortable main-level living with a first-floor primary bedroom and open-concept living and dining areas. Perfect for hobbies or hosting guests, the upstairs includes a bedroom, loft, and optional third bathroom, giving you the flexibility to make the space your own.

22. 2025-12-02
    status Active 298-char remark

    Show marketing remark (298 chars)

    The Tuscany villa plan offers comfortable main-level living with a first-floor primary bedroom and open-concept living and dining areas. Perfect for hobbies or hosting guests, the upstairs includes a bedroom, loft, and optional third bathroom, giving you the flexibility to make the space your own.

23. 2025-12-02
    historical 298-char remark

    Show marketing remark (298 chars)

    The Tuscany villa plan offers comfortable main-level living with a first-floor primary bedroom and open-concept living and dining areas. Perfect for hobbies or hosting guests, the upstairs includes a bedroom, loft, and optional third bathroom, giving you the flexibility to make the space your own.

24. 2025-05-24
    listed $389,990 Active 298-char remark

    Show marketing remark (298 chars)

    The Tuscany villa plan offers comfortable main-level living with a first-floor primary bedroom and open-concept living and dining areas. Perfect for hobbies or hosting guests, the upstairs includes a bedroom, loft, and optional third bathroom, giving you the flexibility to make the space your own.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $44,820
• − Mortgage interest: −$21,285
• − Property taxes: −$5,700
• − Insurance: −$1,900
• − Repairs & maintenance: −$3,586
• − Management: −$3,586
• − Depreciation: −$11,054
• Taxable loss: −$2,291
• Est. tax savings @ 24.0%: +$550
• After-tax cash flow: $4,445/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 · 5 photos

Good 80/100 Cosmetic rehab

The Tuscany villa plan offers a well-maintained and updated home with good curb appeal and interior aesthetics. Minor updates to exterior and interior paint, flooring, and smart home technology would significantly enhance its value.

Value-add opportunities

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics
• Both Replace carpet with hardwood or tile flooring — Improves durability and adds value
• Both Install smart home technology — Enhances convenience and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Replace carpet with hardwood or tile flooring — Improves durability and adds value ↑
• Both Install smart home technology — Enhances convenience and adds 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)

• 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): 48,901
• Household income: $126,724
• Rent vs Own: 18.4% rent · 81.6% own
• Severe rent burden: 742.0

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 (74%)
• Race & ethnicity: White 74% Two or more races 10% Hispanic / Latino 9% Asian 8% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 4% Italian 4% Lithuanian 2%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 5% Arabic 3% Chinese 2%

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: ▼ -140.45%
• Current HPI: 220.9413
• Rent YoY: ▲ 4.26%
• 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

-3.1% since first listed

9 events — show timeline

• 2026-05-02 Price Changed $377,990 Zillow
• 2026-03-04 Price Changed $374,990 Zillow
• 2026-03-02 Price Changed $397,990 Zillow
• 2026-02-03 Price Changed $394,990 Zillow
• 2026-01-02 Price Changed $393,990 Zillow
• 2025-12-10 Price Changed $392,990 Zillow
• 2025-12-02 Relisted — Zillow
• 2025-12-02 Delisted — Zillow
• 2025-05-24 Listed $389,990 Zillow