502 Streamside Dr · Greenfield, IN 46140

$259,900

3 bd · 2.5 ba · 1,996 sqft · SingleFamily public records · 17 Days on market

Built 2005 9,627 sqft lot Est $297k · 13% under $16/mo HOA · 1% 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).

• ARV discount +13.2/15.0
• Cash flow +12.1/30.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• Rent growth +3.2/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ALMOST BRAND NEW- Gorgeous corner, well landscaped, big lot, affordable 2000 Sq Ft of living area! Open floor plan that flows from room to room. Lots of entertainment space. Formal living room with family room. Kitc hen includes all black appliances. Cute fenced in back yard with view of pond - Pantry is in laundry room w/ built-in shelves. Garage is 2+, lots of work space. Drivweway parks 3 cars across. Lots of home for the pri ce!!

Key facts

• Extra storage space
• Second-story loft
• Garage bump-out

Tags

• CORNER LOT
• INDIGO SPRINGS SUBDIVISION
• SECOND-STORY LOFT
• GARAGE BUMP-OUT
• EXTRA STORAGE SPACE

Property features AI

Finance

• Other: Property type is residential single-family; Ownership interest: mandatory fee
• HOA & community: Homeowners association with annual fee of $197; HOA amenities include maintenance, park, and pool; Association fee covers grounds maintenance

Exterior

• Parking: Attached garage with 2 spaces (approx. 500 sq ft)
• Utilities: Public water; Municipal sewer connected; Natural gas connected; 200+ amp electric service
• Home design: Single-family residence; Two levels
• Construction: Vinyl siding; Slab foundation
• Exterior features: Patio; Storage shed; Corner lot

Interior

• Kitchen: Dishwasher; Gas oven; Microwave; Refrigerator; Eat-in kitchen with pantry
• Bedrooms: Three bedrooms on the upper level; Primary bedroom with walk-in closet
• Bathrooms: Two full bathrooms (both on upper level); One half bathroom on the main level; Primary bathroom includes garden tub
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Eat-in kitchen; Pantry; Walk-in closet(s); Living room is two-story
• Laundry & utility: Washer and dryer included; Laundry room on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-56 ($-676/yr) — negative.
• To cash-flow at today's rent, offer at most $250k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (22.5% below list).
• Recommended offer: $201k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.4% in Greenfield — 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 (#88 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F.
• Greenfield-Central Community Schools (other): math 47% / reading 45% proficiency, ranked #83 of 301 in IN (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greenfield-Central High School (math 37% / reading 65%, grade D+, #115 of 369 statewide, top 31%, 1,462 students, 35% FRL).
• Market conditions: Rents rising (+2.9%/yr); 481 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,091 units permitted in Hancock County in 2024 (0 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 $8k of value loss. Plan a longer hold.
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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.
• Current owner paid $128k; list at $260k implies a 102% gain — meaningful room to come down on a strong offer.

Recommended offer $201,321 (22.5% 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 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?
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: 0.77% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $297,404
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
477 Woodstream Dr	0.21mi	3/2.5	1,836 (-8%)	4mo	$260,000	$142	74
1657 Grindstone Way	0.20mi	3/2.0	1,832 (-8%)	5mo	$325,000	$177	71
784 Streamside Dr	0.14mi	4/2.0 (+1)	1,839 (-8%)	4mo	$262,477	$143	70
1569 Leisure Way	0.24mi	2/2.0 (-1)	1,842 (-8%)	0mo	$360,000	$195	69
980 Blossom Ct	0.22mi	3/2.0	1,736 (-13%)	5mo	$250,000	$144	62
1476 Lavender Dr	0.40mi	3/2.0	1,771 (-11%)	1mo	$265,000	$150	60
1421 Lavender Dr	0.42mi	3/2.0	1,775 (-11%)	3mo	$249,900	$141	58
452 Haywood Dr	0.48mi	3/2.0	1,804 (-10%)	3mo	$295,000	$164	58
1751 E Main St	0.53mi	4/3.0 (+1)	1,802 (-10%)	4mo	$268,300	$149	49
1192 Jasmine Dr	0.63mi	4/2.0 (+1)	1,775 (-11%)	7mo	$257,500	$145	40
1271 Magnolia Dr	0.66mi	3/2.0	1,702 (-15%)	6mo	$280,000	$165	38
781 Prospector Dr	0.58mi	4/3.0 (+1)	2,278 (+14%)	6mo	$300,000	$132	37

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.37×
• Total profit: $-46,008
• Equity at exit: $38,752

10-year hold

• IRR: -10.5%
• Equity multiple: 0.37×
• Total profit: $-45,928
• Equity at exit: $22,471

Cash invested: $72,772 (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 46140

• Rents YoY: 2.9%
• Active inventory: 481
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,013 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$160 /mo · $1,915/yr
• Insurance: −$108
• HOA: −$16
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $-56

Break-even live

Break-even rent $2,085

Max offer price $249,945

Occupancy floor 98%

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
859 Runnymede Dr Greenfield, IN	3.0	2.5	2125	$2,000	$0.94	2d	1	0.22mi
1904 Breakwater Dr Greenfield, IN	3.0	2.5	1997	$1,810	$0.91	20d	1	0.38mi
210 Flagstone Dr Greenfield, IN	1.0–3.0	1.0–2.5	1084	$2,254	$2.08	2d	17	0.64mi
975 Geronimo Dr Greenfield, IN	4.0	2.0	2051	$2,295	$1.12	11d	1	0.70mi
1027 E Fourth St Greenfield, IN	3.0	2.0	1430	$1,700	$1.19	24d	1	0.84mi
1854 Cascades Dr Greenfield, IN	4.0	3.0	2200	$2,095	$0.95	4d	1	1.36mi

HOA detail

• Monthly dues: $16 · $192/yr

Listing history 14 events

1. 2026-06-18
   price $259,900 Active 17 DOM
2. 2026-06-18
   days on market $265,000 Active 17 DOM
3. 2026-06-17
   days on market $265,000 Active 16 DOM
4. 2026-06-16
   days on market $265,000 Active 15 DOM
5. 2026-06-15
   days on market $265,000 Active 14 DOM
6. 2026-06-13
   days on market $265,000 Active 12 DOM
7. 2026-06-13
   days on market $265,000 Active 11 DOM
8. 2026-06-09
   days on market $265,000 Active 8 DOM
9. 2026-06-08
   days on market $265,000 Active 7 DOM
10. 2026-06-07
    days on market $265,000 Active 6 DOM
11. 2026-06-05
    days on market $265,000 Active 3 DOM
12. 2026-06-03
    days on market $265,000 Active 2 DOM
13. 2026-06-02
    remarks 581-char remark
14. 2026-06-02
    listed $265,000 Active 1 DOM

ⓘ 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: $1,915 · $160/mo
• Projected year-2 tax: $2,062 · $172/mo
• Expected delta: +$147/yr (+$12/mo · 7.7%)

ⓘ 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 ≥102°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: $24,159
• − Mortgage interest: −$14,558
• − Property taxes: −$1,915
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,933
• − Management: −$1,933
• − HOA: −$192
• − Depreciation: −$7,561
• Taxable loss: −$5,232
• Est. tax savings @ 24.0%: +$1,256
• After-tax cash flow: $579/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: Greenfield-Central Community Schools
• NCES district ID: 1804050
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $55,533
• Composite: 40.01/100
• National rank: #3827
• State rank: #83 of 301 in IN

Livability — Greenfield

• Score: 73/100
• State rank: #88
• US rank: #5094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenfield, IN
• County: Hancock County · 59,521 people
• City population: 43,511
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 43,511
• Household income: $83,056
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 795.0

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.67%
• Current HPI: 225.0367
• Rent YoY: ▲ 2.88%
• 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

+106.2% since first listed

3 events — show timeline

• 2026-06-01 Listed $265,000 MIBOR as Distributed by MLS Grid
• 2007-08-03 Sold (MLS) $128,500 MIBOR as Distributed by MLS Grid
• 2007-06-30 Listed $128,500 MIBOR as Distributed by MLS Grid

Property tax history

+7.3%/yr

Latest (2025): $1,915 · -8.6% YoY. Source: county tax records.