1354 Pawtucket Dr · Westfield, IN 46074

$319,000

3 bd · 2.5 ba · 1,864 sqft · Condo public records · 77 Days on market

Built 2011 $351/mo HOA · 13% 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 +9.2/30.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• 1% rule +3.6/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sought after Centennial town home! Covered front porch greets you, two story entry with wrought iron spindles and stunning hardwoods through out much of the main level, neutral paint. Front room with gas fireplace and wall of windows for natural light. Formal dining room leads to spacious kitchen with center island, tons of cabinets, granite counters and stainless appliances. Owners suite w/master bath that has double sinks, soaker tub and separate shower. Large walk in closet with custom built ins. Upstairs laundry for added convenience. Open to family room overlooking enclosed private backyard oasis.

Key facts

• Covered front porch
• 2 story townhome
• Dramatic entry

Tags

• 2 STORY TOWNHOME
• COVERED FRONT PORCH
• DRAMATIC ENTRY
• GAS FIREPLACE
• SPACIOUS KITCHEN
• CENTER ISLAND

Property features AI

Finance

• Other: Common walls with 2+ adjoining units; Ownership interest: mandatory fee
• HOA & community: Has HOA; Monthly association fee; HOA includes clubhouse, lawncare/maintenance, management, snow removal, trash, insurance, walking trails, pool, playground, park, tennis and pickleball courts, basketball court, dog park; Covenants and restrictions

Exterior

• Parking: Attached finished garage; 2-car garage (finished)
• Security: Security system; Smoke alarm
• Utilities: Public water; Municipal sewer connected; Cable connected; Natural gas connected
• Home design: Attached residential condominium; Horizontal condo type; Ground level unit; Two levels
• Construction: Brick and cement siding exterior; Slab foundation
• Exterior features: Covered patio; Sprinkler system; Partial fencing; Sidewalks; Rural-subdivision setting

Interior

• Kitchen: Dishwasher; Disposal; Micro hood; Electric oven; Kitchen island; Breakfast bar
• Bedrooms: Three upper bedrooms; Primary bedroom with walk-in closet
• Bathrooms: Two full baths and one half bath total; Primary bath with double sinks, separate shower and full tub, garden tub
• Heating & cooling: Forced air heating (electric and natural gas); Central air conditioning
• Interior features: Attic access; High ceilings; Woodwork painted; Breakfast bar; Kitchen island; Jack-and-Jill bath
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $319k.

Deal economics

• At list price, monthly cash flow is $-238 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (13.6% below list).
• Recommended offer: $276k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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: Maple Glen Elementary (math 67% / reading 60%, grade B, #95 of 994 statewide, top 10%, 562 students, 12% 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) — zoned schools at 16% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 809 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $10k 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 77 days — a 6% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $219k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $275,612 (13.6% 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 77 days. Have you received any prior offers? Is the seller open to a 14% 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: 0.86% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.20%
• DSCR: 0.86
• GRM: 9.6

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: -20.0%
• Equity multiple: 0.29×
• Total profit: $-63,169
• Equity at exit: $47,564

10-year hold

• IRR: -10.2%
• Equity multiple: 0.34×
• Total profit: $-58,970
• Equity at exit: $27,581

Cash invested: $89,320 (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: 809
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,756 high
• Mortgage (P&I): −$1,673
• Tax from tax record: −$259 /mo · $3,108/yr
• Insurance: −$133
• HOA: −$351
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $-238

Break-even live

Break-even rent $3,058

Max offer price $276,878

Occupancy floor —

Sensitivity live

Price	-10% $-58	-5% $-148	+0% $-238	+5% $-329	+10% $-419
Rent	-10% $-456	-5% $-347	+0% $-238	+5% $-130	+10% $-21
Rate	-1.0pp $-78	-0.5pp $-157	base $-238	+0.5pp $-321	+1.0pp $-405

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1659 Dewey Dr Westfield, IN	2.0	2.0	1748	$2,650	$1.52	0d	1	0.54mi
14502 Baldwin Ln Carmel, IN	4.0	2.5	2381	$3,600	$1.51	0d	1	1.09mi
1361 Midway Ct Carmel, IN	4.0	2.5	2606	$3,250	$1.25	18d	1	1.09mi
14518 Brecon Ln Carmel, IN	3.0	2.5	1980	$2,695	$1.36	45d	1	1.14mi
14637 Handel Dr Carmel, IN	1.0–3.0	1.0–2.0	1128	$2,038	$1.81	0d	49	1.31mi

HOA detail condo

• Monthly dues: $351 · $4,212/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-05-01
   status Pending
2. 2026-04-13
   price $319,000
3. 2026-03-18
   price $325,000
4. 2026-02-20
   price $335,000
5. 2026-02-13
   listed $339,000 Active
6. 2020-07-23
   soldstatus $219,000 Sold 609-char remark

   Show marketing remark (609 chars)

   Sought after Centennial town home! Covered front porch greets you, two story entry with wrought iron spindles and stunning hardwoods through out much of the main level, neutral paint. Front room with gas fireplace and wall of windows for natural light. Formal dining room leads to spacious kitchen with center island, tons of cabinets, granite counters and stainless appliances. Owners suite w/master bath that has double sinks, soaker tub and separate shower. Large walk in closet with custom built ins. Upstairs laundry for added convenience. Open to family room overlooking enclosed private backyard oasis.

7. 2020-06-10
   status Pending 609-char remark

   Show marketing remark (609 chars)

   Sought after Centennial town home! Covered front porch greets you, two story entry with wrought iron spindles and stunning hardwoods through out much of the main level, neutral paint. Front room with gas fireplace and wall of windows for natural light. Formal dining room leads to spacious kitchen with center island, tons of cabinets, granite counters and stainless appliances. Owners suite w/master bath that has double sinks, soaker tub and separate shower. Large walk in closet with custom built ins. Upstairs laundry for added convenience. Open to family room overlooking enclosed private backyard oasis.

8. 2020-06-01
   listed $224,900 Active 609-char remark

   Show marketing remark (609 chars)

   Sought after Centennial town home! Covered front porch greets you, two story entry with wrought iron spindles and stunning hardwoods through out much of the main level, neutral paint. Front room with gas fireplace and wall of windows for natural light. Formal dining room leads to spacious kitchen with center island, tons of cabinets, granite counters and stainless appliances. Owners suite w/master bath that has double sinks, soaker tub and separate shower. Large walk in closet with custom built ins. Upstairs laundry for added convenience. Open to family room overlooking enclosed private backyard oasis.

9. 2016-11-29
   soldstatus $200,000 Sold 502-char remark

   Show marketing remark (502 chars)

   One of the nicest townhomes in Centennial. This is the last townhome built, 2011, and it is unique. Stunning 2 story entry, open space sweeping from great room to dining room, to the kitchen and hearth room. Granite counter tops and island. 40 inch cabinets, 90 inch add-on pantry, stainless steel built-ins. Lots of cabinet space. Wonderful master, garden tub, glass shower, huge walk-in closet leading to laundry room. Pictures speak 1,000 words, so be sure and go through all the photos & text!

10. 2016-10-07
    status Pending 502-char remark

    Show marketing remark (502 chars)

    One of the nicest townhomes in Centennial. This is the last townhome built, 2011, and it is unique. Stunning 2 story entry, open space sweeping from great room to dining room, to the kitchen and hearth room. Granite counter tops and island. 40 inch cabinets, 90 inch add-on pantry, stainless steel built-ins. Lots of cabinet space. Wonderful master, garden tub, glass shower, huge walk-in closet leading to laundry room. Pictures speak 1,000 words, so be sure and go through all the photos & text!

11. 2016-10-06
    price $205,000 502-char remark

    Show marketing remark (502 chars)

    One of the nicest townhomes in Centennial. This is the last townhome built, 2011, and it is unique. Stunning 2 story entry, open space sweeping from great room to dining room, to the kitchen and hearth room. Granite counter tops and island. 40 inch cabinets, 90 inch add-on pantry, stainless steel built-ins. Lots of cabinet space. Wonderful master, garden tub, glass shower, huge walk-in closet leading to laundry room. Pictures speak 1,000 words, so be sure and go through all the photos & text!

12. 2016-10-05
    status Active 502-char remark

    Show marketing remark (502 chars)

    One of the nicest townhomes in Centennial. This is the last townhome built, 2011, and it is unique. Stunning 2 story entry, open space sweeping from great room to dining room, to the kitchen and hearth room. Granite counter tops and island. 40 inch cabinets, 90 inch add-on pantry, stainless steel built-ins. Lots of cabinet space. Wonderful master, garden tub, glass shower, huge walk-in closet leading to laundry room. Pictures speak 1,000 words, so be sure and go through all the photos & text!

13. 2016-10-02
    status Pending 502-char remark

    Show marketing remark (502 chars)

    One of the nicest townhomes in Centennial. This is the last townhome built, 2011, and it is unique. Stunning 2 story entry, open space sweeping from great room to dining room, to the kitchen and hearth room. Granite counter tops and island. 40 inch cabinets, 90 inch add-on pantry, stainless steel built-ins. Lots of cabinet space. Wonderful master, garden tub, glass shower, huge walk-in closet leading to laundry room. Pictures speak 1,000 words, so be sure and go through all the photos & text!

14. 2016-09-20
    listed $209,000 Active 502-char remark

    Show marketing remark (502 chars)

    One of the nicest townhomes in Centennial. This is the last townhome built, 2011, and it is unique. Stunning 2 story entry, open space sweeping from great room to dining room, to the kitchen and hearth room. Granite counter tops and island. 40 inch cabinets, 90 inch add-on pantry, stainless steel built-ins. Lots of cabinet space. Wonderful master, garden tub, glass shower, huge walk-in closet leading to laundry room. Pictures speak 1,000 words, so be sure and go through all the photos & text!

ⓘ 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: $3,108 · $259/mo
• Projected year-2 tax: $3,108 · $259/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 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,073
• − Mortgage interest: −$17,869
• − Property taxes: −$3,108
• − Insurance: −$1,595
• − Repairs & maintenance: −$2,646
• − Management: −$2,646
• − HOA: −$4,212
• − Depreciation: −$9,280
• Taxable loss: −$8,282
• Est. tax savings @ 24.0%: +$1,988
• After-tax cash flow: $-874/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

+52.6% since first listed

14 events — show timeline

• 2026-05-01 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-13 Price Changed $319,000 MIBOR as Distributed by MLS Grid
• 2026-03-18 Price Changed $325,000 MIBOR as Distributed by MLS Grid
• 2026-02-20 Price Changed $335,000 MIBOR as Distributed by MLS Grid
• 2026-02-13 Listed $339,000 MIBOR as Distributed by MLS Grid
• 2020-07-23 Sold (MLS) $219,000 MIBOR as Distributed by MLS Grid
• 2020-06-10 Pending — MIBOR as Distributed by MLS Grid
• 2020-06-01 Listed $224,900 MIBOR as Distributed by MLS Grid
• 2016-11-29 Sold (MLS) $200,000 MIBOR as Distributed by MLS Grid
• 2016-10-07 Pending — MIBOR as Distributed by MLS Grid
• 2016-10-06 Price Changed $205,000 MIBOR as Distributed by MLS Grid
• 2016-10-05 Relisted — MIBOR as Distributed by MLS Grid
• 2016-10-02 Pending — MIBOR as Distributed by MLS Grid
• 2016-09-20 Listed $209,000 MIBOR as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2025): $3,108 · -6.1% YoY. Source: county tax records.