434 Park Dr · Greenwood, IN 46143

$199,900

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 18 Days on market

Built 1960 8,712 sqft lot Est $190k · 5% over

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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 +14.4/30.0
• ARV discount +5.2/15.0
• DSCR +4.4/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• 1% rule +3.0/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Whoa! Pump the breaks and check out this cozy, 3 bed/1 bath, stone ranch, snuggled in the heart of Greenwood. The primary bedroom has a walk-in closet. Can you believe that? The kitchen/dine in features the convenience of accomplishing most of your chores in one room with a washer/dryer hook up. Think of the time you will save! Need extra storage? There is attic access with pull down ladder right in the hallway. There is a nice platform at the top to store things. You won't have to chase your kids or fur babies far in this cute, little, fenced in backyard! There is plenty of room for activities in the huge 2 car garage. Yep, extra room for projects in there. And you don't even have to store your lawn tools in there. There's a mini barn behind the garage for those needs. The revitalized downtown Greenwood is just a short walk away. The mall is just a short bike ride. I65 is a short car ride. I know it could use some upgrades but think of the equity you gain if you did those yourself! It's priced accordingly. Don't Stop! Get it! Get it! Whoop Whoop!

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Built 1960

Property features AI

Exterior

• Parking: Detached 2-car garage with garage door opener
• Utilities: Public water; Municipal sewer connection; Electricity connected; Natural gas connected
• Home design: Single-family residence; One level; East-facing
• Construction: Stone exterior; Slab foundation
• Exterior features: Lot under 1/4 acre (approximately 0.2 acres)

Interior

• Kitchen: Gas oven; Microwave; Refrigerator; Eat-in kitchen with pantry
• Bedrooms: Three bedrooms on the main level; Primary bedroom with walk-in closet
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic access with pull-down stairs; Eat-in kitchen; Pantry; Walk-in closet(s)
• Laundry & utility: Washer and dryer included; Laundry room with utility sink; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $41 ($497/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 $160k (20.0% below list).
• Recommended offer: $160k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.5% in Greenwood — 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 73/100 on livability (#91 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Greenwood Community School Corporation (suburban): math 41% / reading 52% proficiency, ranked #88 of 301 in IN (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greenwood Community High Sch (math 37% / reading 79%, grade C, #62 of 369 statewide, top 17%, 1,175 students, 43% FRL).
• Market conditions: Rents rising (+1.9%/yr); 80 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,133 units permitted in Johnson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Johnson County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $159,829 (20.0% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. 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?
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 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: 0.80% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.89%
• DSCR: 1.04
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $190,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
440 Park Dr	0.04mi	3/1.0	960 (0%)	1mo	$200,000	$208	98
455 Southgate Dr	0.13mi	3/1.0	960 (0%)	4mo	$179,000	$186	90
133 Marcy Ln	0.26mi	3/1.0	990 (+3%)	4mo	$199,900	$202	79
464 Carol Dr	0.20mi	3/1.0	888 (-8%)	4mo	$132,000	$149	75
476 Carol Dr	0.27mi	3/1.0	888 (-8%)	1mo	$132,000	$149	74
637 E Pearl St	0.46mi	3/1.0	975 (+2%)	5mo	$214,000	$219	72
527 Northgate Dr	0.53mi	2/1.0 (-1)	960 (0%)	2mo	$190,000	$198	68
604 Carol Dr	0.57mi	3/1.0	1,000 (+4%)	4mo	$143,000	$143	63
504 Carol Dr	0.43mi	3/1.0	864 (-10%)	1mo	$155,000	$179	63
587 N Meridian St	0.58mi	2/1.0 (-1)	1,000 (+4%)	2mo	$197,000	$197	59
620 Carol Dr	0.67mi	3/1.5	1,000 (+4%)	3mo	$230,000	$230	57
445 N Valley Ln	0.62mi	2/1.0 (-1)	1,040 (+8%)	2mo	$228,000	$219	51

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 · 1.95% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.44×
• Total profit: $-31,502
• Equity at exit: $29,806

10-year hold

• IRR: -9.4%
• Equity multiple: 0.45×
• Total profit: $-31,053
• Equity at exit: $17,284

Cash invested: $55,972 (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 46143

• Rents YoY: 1.9%
• Active inventory: 80
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,598 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$90 /mo · $1,076/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $41

Break-even live

Break-even rent $1,546

Max offer price $199,900

Occupancy floor 92%

Sensitivity live

Price	-10% $155	-5% $98	+0% $41	+5% $-15	+10% $-72
Rent	-10% $-85	-5% $-22	+0% $41	+5% $105	+10% $168
Rate	-1.0pp $142	-0.5pp $92	base $41	+0.5pp $-10	+1.0pp $-63

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
464 Carol Dr Greenwood, IN	3.0	1.0	888	$1,550	$1.75	45d	1	0.17mi
501 E Main St Greenwood, IN	2.0	1.0	968	$1,395	$1.44	45d	1	0.41mi
514 Carol Dr Greenwood, IN	3.0	1.0	864	$1,483	$1.72	0d	1	0.45mi
88 Keran Manor Ct Greenwood, IN	2.0	1.0	945	$1,450	$1.53	45d	1	0.65mi
714 Connors Dr Greenwood, IN	1.0–2.0	1.0	750	$1,254	$1.67	3d	15	0.69mi
49 Trails End Unit 1 Greenwood, IN	2.0	1.5	1088	$1,450	$1.33	0d	1	0.91mi
968 Greenwood Trl W Greenwood, IN	2.0	2.0	1088	$1,475	$1.36	14d	1	0.93mi
601 Wood Dale Ter Greenwood, IN	2.0	1.5	960	$1,174	$1.22	45d	1	0.98mi
14 Greenwood Trl N Greenwood, IN	2.0	1.5	1088	$1,275	$1.17	16d	1	0.99mi
600 Wooddale Ter Apt 07 Greenwood, IN	2.0	1.0	750	$999	$1.33	25d	1	0.99mi
600 Wood Dale Ter Greenwood, IN	2.0	1.0	750	$999	$1.33	45d	1	0.99mi
1043 Mikes Way Greenwood, IN	3.0	2.0	1090	$1,650	$1.51	45d	1	1.04mi
628 Wooddale Ter Unit 1007 Greenwood, IN	2.0	1.5	1013	$1,104	$1.09	45d	1	1.05mi
622 Wood Dale Ter Greenwood, IN	1.0–2.0	1.0–1.5	947	$1,104	$1.17	25d	3	1.06mi
902 Wallington Cir Greenwood, IN	1.0–3.0	1.0–1.5	899	$1,687	$1.88	0d	23	1.10mi
1039 N Paz Dr Greenwood, IN	1.0–3.0	1.0–2.0	925	$1,434	$1.55	0d	9	1.11mi
370 Homestead Ave Greenwood, IN	1.0–3.0	1.0–2.0	1135	$2,275	$2.00	0d	29	1.11mi
745 Wood Dale Ter Greenwood, IN	1.0–2.0	1.0–1.5	818	$1,397	$1.71	0d	9	1.18mi
610 Paradise Ct Greenwood, IN	1.0–2.0	1.0–2.5	868	$1,699	$1.96	0d	27	1.20mi
1201 Carson Way Greenwood, IN	2.0	1.0–2.0	740	$1,410	$1.91	25d	20	1.35mi
700 Bexley Pl Greenwood, IN	1.0–2.0	1.0–2.0	908	$2,703	$2.98	0d	11	1.36mi
4545 Scarlet Oak Way Indianapolis, IN	1.0–3.0	1.0–2.0	1101	$1,767	$1.60	0d	15	1.46mi

Listing history 14 events

1. 2026-06-15
   statusdays on market $199,900 Pending 18 DOM
2. 2026-06-13
   days on market $199,900 Active 17 DOM
3. 2026-06-13
   days on market $199,900 Active 16 DOM
4. 2026-06-09
   days on market $199,900 Active 13 DOM
5. 2026-06-08
   days on market $199,900 Active 12 DOM
6. 2026-06-07
   days on market $199,900 Active 11 DOM
7. 2026-06-03
   days on market $199,900 Active 7 DOM
8. 2026-06-02
   days on market $199,900 Active 6 DOM
9. 2026-06-01
   days on market $199,900 Active 5 DOM
10. 2026-05-31
    days on market $199,900 Active 4 DOM
11. 2026-05-26
    listed $199,900 Active
12. 2024-04-16
    soldstatus $179,900 Closed 1124-char remark

    Show marketing remark (1124 chars)

    Whoa! Pump the breaks and check out this cozy, 3 bed/1 bath, stone ranch, snuggled in the heart of Greenwood. The primary bedroom has a walk-in closet. Can you believe that? The kitchen/dine in features the convenience of accomplishing most of your chores in one room with a washer/dryer hook up. Think of the time you will save! Need extra storage? There is attic access with pull down ladder right in the hallway. There is a nice platform at the top to store things. You won't have to chase your kids or fur babies far in this cute, little, fenced in backyard! There is plenty of room for activities in the huge 2 car garage. Yep, extra room for projects in there. And you don't even have to store your lawn tools in there. There's a mini barn behind the garage for those needs. The revitalized downtown Greenwood is just a short walk away. The mall is just a short bike ride. I65 is a short car ride. I know it could use some upgrades but think of the equity you gain if you did those yourself! It's priced accordingly. Don't Stop! Get it! Get it! Whoop Whoop!

13. 2024-03-22
    status Pending 1124-char remark

    Show marketing remark (1124 chars)

    Whoa! Pump the breaks and check out this cozy, 3 bed/1 bath, stone ranch, snuggled in the heart of Greenwood. The primary bedroom has a walk-in closet. Can you believe that? The kitchen/dine in features the convenience of accomplishing most of your chores in one room with a washer/dryer hook up. Think of the time you will save! Need extra storage? There is attic access with pull down ladder right in the hallway. There is a nice platform at the top to store things. You won't have to chase your kids or fur babies far in this cute, little, fenced in backyard! There is plenty of room for activities in the huge 2 car garage. Yep, extra room for projects in there. And you don't even have to store your lawn tools in there. There's a mini barn behind the garage for those needs. The revitalized downtown Greenwood is just a short walk away. The mall is just a short bike ride. I65 is a short car ride. I know it could use some upgrades but think of the equity you gain if you did those yourself! It's priced accordingly. Don't Stop! Get it! Get it! Whoop Whoop!

14. 2024-03-15
    listed $179,900 Active 1124-char remark

    Show marketing remark (1124 chars)

    Whoa! Pump the breaks and check out this cozy, 3 bed/1 bath, stone ranch, snuggled in the heart of Greenwood. The primary bedroom has a walk-in closet. Can you believe that? The kitchen/dine in features the convenience of accomplishing most of your chores in one room with a washer/dryer hook up. Think of the time you will save! Need extra storage? There is attic access with pull down ladder right in the hallway. There is a nice platform at the top to store things. You won't have to chase your kids or fur babies far in this cute, little, fenced in backyard! There is plenty of room for activities in the huge 2 car garage. Yep, extra room for projects in there. And you don't even have to store your lawn tools in there. There's a mini barn behind the garage for those needs. The revitalized downtown Greenwood is just a short walk away. The mall is just a short bike ride. I65 is a short car ride. I know it could use some upgrades but think of the equity you gain if you did those yourself! It's priced accordingly. Don't Stop! Get it! Get it! Whoop Whoop!

ⓘ 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: $1,076 · $90/mo
• Projected year-2 tax: $1,388 · $116/mo
• Expected delta: +$312/yr (+$26/mo · 29.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,179
• − Mortgage interest: −$11,198
• − Property taxes: −$1,076
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,534
• − Management: −$1,534
• − Depreciation: −$5,815
• Taxable loss: −$2,978
• Est. tax savings @ 24.0%: +$715
• After-tax cash flow: $1,211/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: Greenwood Community School Corporation
• NCES district ID: 1804110
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 52% ▼ -7.00%
• Median HH income: $48,589
• Composite: 39.71/100
• National rank: #3902
• State rank: #88 of 301 in IN

Livability — Greenwood

• Score: 73/100
• State rank: #91
• US rank: #5255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenwood, IN
• County: Johnson County · 154,261 people
• City population: 96,151
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 61,803
• Household income: $91,496
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1513.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 170,080 people
• By 2030: 179,983 · +5.8%
• By 2040: 198,580 · +16.8%
• By 2050: 214,661 · +26.2%
• By 2075: 247,990 · +45.8%
• By 2100: 257,821 · +51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Asian 8% Black 5% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 88% English-only · Other Indo-European 6% Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+34.3) · D 32.0% · R 66.3% · Other 1.7%
• 2008→2024 swing: -8.9pp toward R · 2008: -25.5pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+34.1 2016: R+42.5 2012: R+38.5 2008: R+25.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.72%
• Current HPI: 204.3161
• Rent YoY: ▲ 1.95%
• 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

+11.1% since first listed

4 events — show timeline

• 2026-05-26 Listed $199,900 MIBOR as Distributed by MLS Grid
• 2024-04-16 Sold (MLS) $179,900 MIBOR as Distributed by MLS Grid
• 2024-03-22 Pending — MIBOR as Distributed by MLS Grid
• 2024-03-15 Listed $179,900 MIBOR as Distributed by MLS Grid

Property tax history

+11.5%/yr

Latest (2024): $1,076 · +8.1% YoY. Source: county tax records.