12546 S Hillview Dr · Grandview Lake, IN 47201

$194,900

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 84 Days on market

Built 1970 10,000 sqft lot Est $215k · 10% under

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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 +14.7/30.0
• ARV discount +11.8/15.0
• DSCR +4.5/10.0
• Schools +3.6/10.0
• Rent growth +3.3/5.0
• 1% rule +3.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Updated 3-bedroom, 1-bath ADA accessible home in an established neighborhood near Mt. Healthy schools. Features include hardwood floors throughout most of the home, an attached garage, and a newer hot tub in excellent condition. The property also offers exceptional exterior amenities with a two story detached garage/workshop and an additional backyard carport-ideal for storage, hobbies, or extra parking. A well maintained, move in ready home with rare exterior space.

Key facts

• Rare exterior space
• Backyard carport
• Newer hot tub

Tags

• HARDWOOD FLOORS
• NEWER HOT TUB
• TWO STORY DETACHED GARAGE
• BACKYARD CARPORT
• RARE EXTERIOR SPACE

Property features AI

Exterior

• Parking: 4-car garage (576 sq ft indicated); Attached and detached parking options; Converted garage; Carport; Concrete and aggregate surfaces
• Utilities: Public water; Community sewer; No solid waste service indicated
• Home design: Single-family residence; Attached property; One story; Accessible doors and an accessible full bathroom
• Construction: Vinyl siding; Block foundation
• Exterior features: Screened porch; Fenced yard; Above-ground spa

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator; Tankless water heater
• Bedrooms: Three bedrooms on the main level
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas heating; Ductless cooling
• Interior features: Attic access; Hardwood floors; Gas log fireplace
• Laundry & utility: Tankless water heater (listed with kitchen appliances)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $48 ($580/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 $156k (19.8% below list).
• Recommended offer: $156k (19.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Bartholomew Consolidated School Corporation (urban): math 38% / reading 45% proficiency, ranked #119 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.1%/yr); 340 active listings in the ZIP; solid renter incomes; 195 units permitted in Bartholomew 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.
• Bartholomew County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $53k; list at $195k implies a 267% gain — meaningful room to come down on a strong offer.

Recommended offer $156,317 (19.8% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.80% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.06%
• DSCR: 1.05
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $215,424
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12566 S Hillview Dr	0.01mi	3/1.0	1,056 (0%)	12mo	$195,000	$185	89
12504 S Hillview Rd	0.06mi	3/1.0	912 (-14%)	15mo	$185,900	$204	62
12441 S Hillview Way	0.21mi	3/2.0	1,141 (+8%)	20mo	$238,000	$209	56

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 · 3.15% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-28,343
• Equity at exit: $29,060

10-year hold

• IRR: -5.6%
• Equity multiple: 0.63×
• Total profit: $-20,050
• Equity at exit: $16,851

Cash invested: $54,572 (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 47201

• Rents YoY: 3.1%
• Active inventory: 340
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,563 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$83 /mo · $1,000/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $48

Break-even live

Break-even rent $1,502

Max offer price $194,900

Occupancy floor 92%

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $194,900 Active 84 DOM
2. 2026-06-18
   days on market $194,900 Active 83 DOM
3. 2026-06-17
   days on market $194,900 Active 82 DOM
4. 2026-06-16
   days on market $194,900 Active 81 DOM
5. 2026-06-15
   days on market $194,900 Active 80 DOM
6. 2026-06-14
   days on market $194,900 Active 78 DOM
7. 2026-06-13
   days on market $194,900 Active 77 DOM
8. 2026-06-10
   days on market $194,900 Active 75 DOM
9. 2026-06-09
   days on market $194,900 Active 74 DOM
10. 2026-06-08
    days on market $194,900 Active 73 DOM
11. 2026-06-07
    days on market $194,900 Active 72 DOM
12. 2026-06-05
    days on market $194,900 Active 69 DOM
13. 2026-06-03
    pricedays on market $194,900 Active 68 DOM
14. 2026-06-02
    days on market $199,990 Active 67 DOM
15. 2026-06-01
    days on market $199,990 Active 66 DOM
16. 2026-05-31
    days on market $199,990 Active 65 DOM
17. 2026-05-30
    days on market $199,990 Active 64 DOM
18. 2026-03-26
    listed $199,990 Active
19. 2011-10-31
    soldstatus $53,140

ⓘ 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: $1,000 · $83/mo
• Projected year-2 tax: $1,328 · $111/mo
• Expected delta: +$329/yr (+$27/mo · 32.9%)

ⓘ 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 ≥103°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,758
• − Mortgage interest: −$10,917
• − Property taxes: −$1,000
• − Insurance: −$974
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − Depreciation: −$5,670
• Taxable loss: −$2,805
• Est. tax savings @ 24.0%: +$673
• After-tax cash flow: $1,253/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: Bartholomew Consolidated School Corporation
• NCES district ID: 1800360
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $54,685
• Composite: 36.16/100
• National rank: #4736
• State rank: #119 of 301 in IN

Livability — Grandview Lake

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Bartholomew County · 74,100 people
• Metro: Columbus, IN
• Population (ZIP): 47,900
• Household income: $83,958
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 1455.0

Population outlook (Bartholomew County) Hauer SSP2

• Today (2025): 90,162 people
• By 2030: 94,432 · +4.7%
• By 2040: 102,659 · +13.9%
• By 2050: 109,794 · +21.8%
• By 2075: 123,419 · +36.9%
• By 2100: 121,047 · +34.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 10% Asian 9% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Italian 3% Slovak 2% Serbian 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 83% English-only · Spanish 8% Other Indo-European 5% Other Asian/Pacific 2%

Political lean MEDSL · Bartholomew

• 2024 margin: Strong R (+27.3) · D 35.3% · R 62.7% · Other 2.0%
• 2008→2024 swing: -16.1pp toward R · 2008: -11.3pp · 2024: -27.3pp
• All cycles: 2024: R+27.3 2020: R+26.2 2016: R+33.3 2012: R+25.4 2008: R+11.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.94%
• Current HPI: 150.2246
• Rent YoY: ▲ 3.15%
• Metro: Columbus, 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

+276.3% since first listed

2 events — show timeline

• 2026-03-26 Listed $199,990 MIBOR as Distributed by MLS Grid
• 2011-10-31 Sold (Public Records) $53,140 Public Records

Property tax history

+10.2%/yr

Latest (2024): $1,000 · +4.6% YoY. Source: county tax records.