717 Axford Bay Dr · Westfield, IN 46074

$299,900

3 bd · 2.5 ba · 1,980 sqft · Condo public records · 135 Days on market

Built 2022 $250/mo HOA · 10% 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 +9.5/30.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• 1% rule +3.4/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Fullerton townhome design features three stories and an open-concept layout. Its spacious kitchen offers an oversized island, pantry and cafe for casual dining complete with upgraded quartz countertops and 36' Lillian Glacier Gray cabinets. You'll find luxury Vinyl Plank all throughout every room and carpet in the bedrooms. Upstairs, the Fullerton boasts a large Owner's Suite, impressive Owner's Bath and two additional bedrooms. You'll also love the finished game room for even more living and entertaining space. When you live at Lancaster, you'll also have full access to all community amenities including pools, athletic courts, trails and more.

Key facts

• Community amenities
• Large kitchen
• Athletic courts

Tags

• LARGE KITCHEN
• OVERSIZED ISLAND
• WALK-IN PANTRY
• COMMUNITY AMENITIES
• POOLS
• ATHLETIC COURTS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $300k.

Deal economics

• At list price, monthly cash flow is $-206 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $253k (15.7% below list).
• Recommended offer: $253k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: Monon Trail Elementary School (math 55% / reading 43%, grade D, #301 of 994 statewide, top 30%, 572 students, 29% FRL); Westfield Middle School (math 46% / reading 62%, grade B-, #31 of 330 statewide, top 9%, 1,429 students, 18% 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 (+4.3%/yr); 812 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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).

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

• It's been on market 135 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $252,903 (15.7% 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. It's been on market 135 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.84% ✗
• Cap rate: 5.47%
• Cash-on-cash: -2.95%
• DSCR: 0.87
• GRM: 9.9

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: -19.7%
• Equity multiple: 0.30×
• Total profit: $-58,377
• Equity at exit: $44,716

10-year hold

• IRR: -9.8%
• Equity multiple: 0.36×
• Total profit: $-53,609
• Equity at exit: $25,930

Cash invested: $83,972 (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: 812
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,529 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$257 /mo · $3,080/yr
• Insurance: −$125
• HOA: −$250
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $-206

Break-even live

Break-even rent $2,790

Max offer price $263,439

Occupancy floor —

Sensitivity live

Price	-10% $-37	-5% $-122	+0% $-206	+5% $-291	+10% $-376
Rent	-10% $-406	-5% $-306	+0% $-206	+5% $-107	+10% $-7
Rate	-1.0pp $-55	-0.5pp $-130	base $-206	+0.5pp $-284	+1.0pp $-363

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
717 Crispin Ln Westfield, IN	3.0	2.0	1613	$2,400	$1.49	46d	1	0.63mi
1418 Moose Ridge Ln Westfield, IN	3.0	2.5	2424	$2,751	$1.13	1d	1	0.91mi
1034 Hendon Ct Westfield, IN	3.0	2.0	1618	$2,075	$1.28	46d	1	1.28mi
17361 Graley Pl Westfield, IN	3.0	2.5	1512	$2,500	$1.65	10d	1	1.37mi
17330 Graley Pl Westfield, IN	3.0	3.0	2383	$3,500	$1.47	46d	1	1.41mi
879 Northwich Ave Westfield, IN	3.0	2.0	1677	$2,050	$1.22	46d	1	1.44mi
19319 Winter Wheat Ln Westfield, IN	3.0	2.5	1858	$2,395	$1.29	26d	1	1.46mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-04-02
   status Pending
2. 2026-03-03
   price $299,900
3. 2026-01-06
   price $309,900
4. 2025-11-18
   listed $320,000 Active
5. 2023-03-31
   soldstatus $294,800 Closed 656-char remark

   Show marketing remark (656 chars)

   The Fullerton townhome design features three stories and an open-concept layout. Its spacious kitchen offers an oversized island, pantry and cafe for casual dining complete with upgraded quartz countertops and 36' Lillian Glacier Gray cabinets. You'll find luxury Vinyl Plank all throughout every room and carpet in the bedrooms. Upstairs, the Fullerton boasts a large Owner's Suite, impressive Owner's Bath and two additional bedrooms. You'll also love the finished game room for even more living and entertaining space. When you live at Lancaster, you'll also have full access to all community amenities including pools, athletic courts, trails and more.

6. 2023-03-20
   status Pending 656-char remark

   Show marketing remark (656 chars)

   The Fullerton townhome design features three stories and an open-concept layout. Its spacious kitchen offers an oversized island, pantry and cafe for casual dining complete with upgraded quartz countertops and 36' Lillian Glacier Gray cabinets. You'll find luxury Vinyl Plank all throughout every room and carpet in the bedrooms. Upstairs, the Fullerton boasts a large Owner's Suite, impressive Owner's Bath and two additional bedrooms. You'll also love the finished game room for even more living and entertaining space. When you live at Lancaster, you'll also have full access to all community amenities including pools, athletic courts, trails and more.

7. 2023-02-11
   price $294,800 656-char remark

   Show marketing remark (656 chars)

   The Fullerton townhome design features three stories and an open-concept layout. Its spacious kitchen offers an oversized island, pantry and cafe for casual dining complete with upgraded quartz countertops and 36' Lillian Glacier Gray cabinets. You'll find luxury Vinyl Plank all throughout every room and carpet in the bedrooms. Upstairs, the Fullerton boasts a large Owner's Suite, impressive Owner's Bath and two additional bedrooms. You'll also love the finished game room for even more living and entertaining space. When you live at Lancaster, you'll also have full access to all community amenities including pools, athletic courts, trails and more.

8. 2023-01-09
   price $298,050 656-char remark

   Show marketing remark (656 chars)

   The Fullerton townhome design features three stories and an open-concept layout. Its spacious kitchen offers an oversized island, pantry and cafe for casual dining complete with upgraded quartz countertops and 36' Lillian Glacier Gray cabinets. You'll find luxury Vinyl Plank all throughout every room and carpet in the bedrooms. Upstairs, the Fullerton boasts a large Owner's Suite, impressive Owner's Bath and two additional bedrooms. You'll also love the finished game room for even more living and entertaining space. When you live at Lancaster, you'll also have full access to all community amenities including pools, athletic courts, trails and more.

9. 2022-12-01
   price $302,210 656-char remark

   Show marketing remark (656 chars)

   The Fullerton townhome design features three stories and an open-concept layout. Its spacious kitchen offers an oversized island, pantry and cafe for casual dining complete with upgraded quartz countertops and 36' Lillian Glacier Gray cabinets. You'll find luxury Vinyl Plank all throughout every room and carpet in the bedrooms. Upstairs, the Fullerton boasts a large Owner's Suite, impressive Owner's Bath and two additional bedrooms. You'll also love the finished game room for even more living and entertaining space. When you live at Lancaster, you'll also have full access to all community amenities including pools, athletic courts, trails and more.

10. 2022-09-12
    listed $298,050 Active 656-char remark

    Show marketing remark (656 chars)

    The Fullerton townhome design features three stories and an open-concept layout. Its spacious kitchen offers an oversized island, pantry and cafe for casual dining complete with upgraded quartz countertops and 36' Lillian Glacier Gray cabinets. You'll find luxury Vinyl Plank all throughout every room and carpet in the bedrooms. Upstairs, the Fullerton boasts a large Owner's Suite, impressive Owner's Bath and two additional bedrooms. You'll also love the finished game room for even more living and entertaining space. When you live at Lancaster, you'll also have full access to all community amenities including pools, athletic courts, trails and more.

ⓘ 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: $3,080 · $257/mo
• Projected year-2 tax: $3,080 · $257/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 5/10 Major FEMA zone X (unshaded) · 67% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,348
• − Mortgage interest: −$16,799
• − Property taxes: −$3,080
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,428
• − Management: −$2,428
• − HOA: −$3,000
• − Depreciation: −$8,724
• Taxable loss: −$7,610
• Est. tax savings @ 24.0%: +$1,826
• After-tax cash flow: $-650/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): 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

+0.6% since first listed

10 events — show timeline

• 2026-04-02 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-03 Price Changed $299,900 MIBOR as Distributed by MLS Grid
• 2026-01-06 Price Changed $309,900 MIBOR as Distributed by MLS Grid
• 2025-11-18 Listed $320,000 MIBOR as Distributed by MLS Grid
• 2023-03-31 Sold (MLS) $294,800 MIBOR as Distributed by MLS Grid
• 2023-03-20 Pending — MIBOR as Distributed by MLS Grid
• 2023-02-11 Price Changed $294,800 MIBOR as Distributed by MLS Grid
• 2023-01-09 Price Changed $298,050 MIBOR as Distributed by MLS Grid
• 2022-12-01 Price Changed $302,210 MIBOR as Distributed by MLS Grid
• 2022-09-12 Listed $298,050 MIBOR as Distributed by MLS Grid

Property tax history

+20.9%/yr

Latest (2025): $3,080 · -6.4% YoY. Source: county tax records.