6932 Gentle Wind Ln

Whitestown, IN 46075

$419,990D-

5 bd · 3.0 ba · 2,718 sqft · Built 2026 · SingleFamily · Active · 75 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,980/mo
• Mortgage (P&I): −$2,202
• Tax + insurance: −$700
• HOA: −$0
• Vac / Maint / Mgmt: −$626
• Net cashflow: $-548/mo
• Annual: $-6,580/yr
• Cap rate: 4.73%
• Cash-on-cash: -5.60%
• DSCR: 0.75
• 1% rule: 0.71%
• Cash to close: $117,597

Investor read

• This is a 5-bed/3.0-bath single-family listed at $420k. Condition is rated excellent.
• At list price, monthly cash flow is $-548 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $341k (18.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $298k (29.0% below list).
• It's been on market 75 days — a 6% lower offer ($395k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $298k (29.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#109 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Lebanon Community School Corporation (town): math 41% / reading 44% proficiency, ranked #115 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Perry Worth Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 430 students, 30% FRL); Lebanon Middle School (math 35% / reading 40%, grade F, #146 of 330 statewide, top 46%, 807 students, 46% FRL); Lebanon Senior High School (math 43% / reading 68%, grade C, #75 of 369 statewide, top 20%, 1,027 students, 38% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: Rents flat; 356 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 36d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 898 units permitted in Boone County in 2024 (0 in 5+ unit buildings).
• Boone County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• This rent runs 31% of the median local income ($117k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 75 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.