2941 W Hawanian Ln · Monrovia, IN 46157

$250,000

3 bd · 2.0 ba · 1,454 sqft · SingleFamily public records · 8 Days on market

Built 2014 5,968 sqft lot $172/sqft · at area comps Est $259k · at est. $38/mo HOA · 2% 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 +9.8/30.0
• ARV discount +9.1/15.0
• Appreciation +4.5/10.0
• Schools +3.4/10.0
• Livability +3.3/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0

Listing remarks

Welcome Home! This beautifully updated ranch-style home is truly move-in ready, offering stylish upgrades throughout. Thoughtfully selected colors and tasteful finishes create a warm, inviting atmosphere in every room. The open floorplan is ideal for both everyday living and entertaining, with excellent flow and functionality. The spacious kitchen-designed for multiple cooks-features stunning maple cabinetry and comes complete with all appliances. Luxurious laminate flooring adds a modern touch and is sure to impress your guests. Need extra space? The dedicated office can easily serve as a 4th bedroom to suit your needs. Enjoy privacy in the fully fenced rear yard-perfect for relaxing or pl

Key facts

• Spacious kitchen
• Brand-new roof
• Dedicated office

Tags

• UPDATED RANCH-STYLE HOME
• SPACIOUS KITCHEN
• MAPLE CABINETRY
• DEDICATED OFFICE
• FULLY FENCED REAR YARD
• BRAND-NEW ROOF

Property features AI

Finance

• HOA & community: Homeowners association with annual fee (approximately $450/year); Community pool; Association covers entrance common, maintenance, and park/playground

Exterior

• Parking: Attached 2-car garage (about 440 sq ft)
• Utilities: Public water; Municipal sewer connected; Regular solid waste service
• Home design: Single-family residence; One level; North-facing
• Construction: Vinyl with brick exterior; Slab foundation; Built as a one-level home
• Exterior features: Patio; Full yard fencing; Sidewalks; Located in a rural-subdivision setting

Interior

• Kitchen: Dishwasher; Electric oven; Microwave with hood; Refrigerator; Garbage disposal
• Bedrooms: Four bedrooms on the main level (examples of bedroom sizes include 11x11, 13x10, 12x12)
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating (electric); Central air conditioning
• Interior features: Attic access; Walk-in closets; Painted woodwork; Eat-in kitchen
• Laundry & utility: Laundry room on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-159 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (28.3% below list).
• Recommended offer: $179k (28.3% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.4% in Monrovia — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 66/100 on livability (#304 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Monroe-Gregg School District (rural): math 31% / reading 45% proficiency, ranked #143 of 301 in IN (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Monrovia Elementary School (math 42% / reading 44%, grade F, #417 of 994 statewide, top 43%, 702 students, 47% FRL); Monrovia Middle School (math 24% / reading 42%, grade F, #180 of 330 statewide, top 56%, 328 students, 47% FRL); Monrovia High School (math 32% / reading 57%, grade F, #169 of 369 statewide, top 51%, 528 students, 36% FRL).
• Market conditions: 56 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 330 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Morgan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 12y 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 $179,202 (28.3% 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.72% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.73%
• DSCR: 0.88
• GRM: 11.6

CMA / ARV

• ARV (median comp): $258,998
• List price: $250,000
• Delta: -3.47%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2941 W Hawanian Ln	0.00mi	4/2.0 (+1)	1,454 (0%)	0mo	$250,000	$172	95
2987 W Longbranch Dr	0.11mi	3/2.0	1,459 (+0%)	3mo	$235,000	$161	92
2966 W Calimanco Ln	0.03mi	3/2.0	1,399 (-4%)	2mo	$255,000	$182	91
3152 W Haberdashery Dr	0.19mi	3/2.0	1,495 (+3%)	2mo	$270,000	$181	85
11171 N Longbranch St	0.09mi	3/2.0	1,560 (+7%)	4mo	$259,000	$166	80
11111 N Longbranch St	0.08mi	3/2.0	1,616 (+11%)	3mo	$250,000	$155	75
60 Terrace Dr	0.41mi	3/1.0	1,475 (+1%)	0mo	$222,500	$151	74
11418 N Meadowbend Way	0.40mi	3/2.0	1,507 (+4%)	3mo	$255,000	$169	73
11254 N Sashing Way	0.18mi	3/2.0	1,565 (+8%)	11mo	$267,000	$171	70
2911 W Hawanian Ln	0.03mi	4/2.0 (+1)	1,585 (+9%)	11mo	$269,900	$170	69
11305 N Quillow Way	0.38mi	3/2.0	1,503 (+3%)	12mo	$303,000	$202	66
3256 W Vintage St	0.33mi	3/2.0	1,272 (-12%)	1mo	$259,010	$204	63

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.59×
• Total profit: $-28,988
• Equity at exit: $60,388

10-year hold

• IRR: -2.8%
• Equity multiple: 0.74×
• Total profit: $-18,162
• Equity at exit: $63,446

Cash invested: $70,000 (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 46157

• Home prices YoY: -0.5%
• Active inventory: 56
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,792 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$122 /mo · $1,460/yr
• Insurance: −$104
• HOA: −$38
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $-159

Break-even live

Break-even rent $1,993

Max offer price $221,888

Occupancy floor —

Sensitivity live

Price	-10% $-18	-5% $-88	+0% $-159	+5% $-230	+10% $-301
Rent	-10% $-301	-5% $-230	+0% $-159	+5% $-88	+10% $-18
Rate	-1.0pp $-33	-0.5pp $-96	base $-159	+0.5pp $-224	+1.0pp $-290

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2898 W Hawanian Ln Monrovia, IN	3.0	2.0	1392	$1,720	$1.24	45d	1	0.04mi
3009 W Sampler Ln Monrovia, IN	3.0	2.0	1560	$1,866	$1.20	45d	1	0.09mi

HOA detail

• Monthly dues: $38 · $456/yr

Listing history 14 events

1. 2026-05-09
   status Pending 836-char remark
2. 2026-05-01
   listed $250,000 Active 836-char remark
3. 2026-01-23
   historical
4. 2026-01-11
   price $244,999
5. 2025-10-11
   price $249,999
6. 2025-10-03
   price $257,900
7. 2025-08-26
   listed $259,000 Active
8. 2019-09-03
   historical
9. 2019-09-01
   status Active
10. 2019-08-03
    historical
11. 2019-07-29
    listed $167,900 Active
12. 2014-11-15
    historical
13. 2014-10-31
    soldstatus $136,625
14. 2014-10-01
    listed $136,625

ⓘ 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: $1,460 · $122/mo
• Projected year-2 tax: $1,792 · $149/mo
• Expected delta: +$333/yr (+$28/mo · 22.8%)

ⓘ 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 ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,504
• − Mortgage interest: −$14,004
• − Property taxes: −$1,460
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,720
• − Management: −$1,720
• − HOA: −$456
• − Depreciation: −$7,273
• Taxable loss: −$6,379
• Est. tax savings @ 24.0%: +$1,531
• After-tax cash flow: $-379/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: Monroe-Gregg School District
• NCES district ID: 1804140
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $64,767
• Composite: 34.2/100
• National rank: #5266
• State rank: #143 of 301 in IN

Livability — Monrovia

• Score: 66/100
• State rank: #304
• US rank: #12092

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monrovia, IN
• Population (ZIP): 4,370

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 71,081 people
• By 2030: 71,178 · +0.1%
• By 2040: 69,907 · -1.7%
• By 2050: 66,455 · -6.5%
• By 2075: 57,291 · -19.4%
• By 2100: 43,782 · -38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 1%
• Foreign-born: 2%
• Languages at home: 98% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+54.3) · D 22.0% · R 76.3% · Other 1.7%
• 2008→2024 swing: -27.3pp toward R · 2008: -27.1pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+54.6 2016: R+56.6 2012: R+41.1 2008: R+27.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.00%
• Current HPI: 212.8798
• Rent YoY: —
• Metro: —
• 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

+83.0% since first listed

15 events — show timeline

• 2026-06-09 Sold (MLS) $250,000 MIBOR as Distributed by MLS Grid
• 2026-05-09 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-01 Listed $250,000 MIBOR as Distributed by MLS Grid
• 2026-01-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-01-11 Price Changed $244,999 MIBOR as Distributed by MLS Grid
• 2025-10-11 Price Changed $249,999 MIBOR as Distributed by MLS Grid
• 2025-10-03 Price Changed $257,900 MIBOR as Distributed by MLS Grid
• 2025-08-26 Listed $259,000 MIBOR as Distributed by MLS Grid
• 2019-09-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2019-09-01 Relisted — MIBOR as Distributed by MLS Grid
• 2019-08-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2019-07-29 Listed $167,900 MIBOR as Distributed by MLS Grid
• 2014-11-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-10-31 Sold (MLS) $136,625 MIBOR as Distributed by MLS Grid
• 2014-10-01 Listed $136,625 MIBOR as Distributed by MLS Grid

Property tax history

+63.5%/yr

Latest (2025): $1,460 · +4.1% YoY. Source: county tax records.