18702 Terra Vista Pl · Westfield, IN 46074

$285,000

3 bd · 2.5 ba · 1,896 sqft · Townhouse public records · 113 Days on market

Built 2022 Good condition 2,614 sqft lot Garage $150/sqft · 14% below area Est $332k · 14% under $255/mo HOA · 11% of rent ↓ 6% since listing

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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 +13.9/15.0
• Cash flow +9.0/30.0
• Schools +5.9/10.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• 1% rule +3.4/10.0
• DSCR +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy low-maintenance townhouse living in this well-maintained, Pulte-built home within Westfield's Lancaster community. Conveniently located near Grand Park and the State Road 32 corridor, the residence highlights scenic pond views. Natural light fills the open-concept main level, where the living room, dining area, and kitchen all look out over the water. The kitchen is beautifully styled with gray cabinetry, white quartz countertops, stainless steel appliances, and a large center island with seating. Outside, a private patio overlooks the pond for peaceful outdoor gatherings , while indoors, a mudroom provides extra storage just inside the attached two-car garage.

Key facts

• Walk-in closet
• Private patio
• Scenic pond views

Tags

• LOW-MAINTENANCE TOWNHOUSE
• SCENIC POND VIEWS
• PRIVATE PATIO
• OPEN-CONCEPT MAIN LEVEL
• MUDROOM
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $285k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-225 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (13.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (15.9% below list).
• Recommended offer: $240k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.1% 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: Monon Trail Elementary School (math 55% / reading 43%, grade D, #301 of 994 statewide, top 30%, 572 students, 29% 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).
• Market conditions: Rents rising fast (+4.3%/yr); 1277 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 83d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $9k 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 113 days — a 9% lower offer ($259k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $239,648 (15.9% 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 113 days. Have you received any prior offers? Is the seller open to a 16% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.38%
• DSCR: 0.85
• GRM: 9.9

CMA / ARV

• ARV (median comp): $331,969
• List price: $285,000
• Delta: -11.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
693 Garrow Dr	0.07mi	3/2.5	1,854 (-2%)	1mo	$339,000	$183	92
680 Garrow Dr	0.09mi	3/2.5	1,854 (-2%)	1mo	$318,000	$172	91
686 Garrow Dr	0.10mi	3/2.5	1,854 (-2%)	1mo	$318,000	$172	91
692 Garrow Dr	0.10mi	3/2.5	1,854 (-2%)	1mo	$318,000	$172	91
646 Axford Bay Dr	0.06mi	3/2.5	1,854 (-2%)	4mo	$325,000	$175	91
669 Garrow Dr	0.06mi	3/2.5	1,854 (-2%)	4mo	$324,000	$175	90
681 Garrow Dr	0.06mi	3/2.5	1,854 (-2%)	4mo	$330,000	$178	90
698 Garrow Dr	0.10mi	3/2.5	1,854 (-2%)	3mo	$330,000	$178	89
717 Axford Bay Dr	0.10mi	3/2.5	1,980 (+4%)	0mo	$299,900	$151	88
18737 Explanade St	0.06mi	3/2.5	2,112 (+11%)	3mo	$350,000	$166	76
18697 Explanade St	0.06mi	3/2.5	2,112 (+11%)	3mo	$347,500	$165	75
18714 Seaforth Way	0.26mi	3/2.0	1,644 (-13%)	3mo	$315,000	$192	61

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 · 4.26% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.28×
• Total profit: $-57,284
• Equity at exit: $42,494

10-year hold

• IRR: -10.7%
• Equity multiple: 0.31×
• Total profit: $-54,833
• Equity at exit: $24,642

Cash invested: $79,800 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 20 active · 15 under contract
• Months of supply: 8.6 mo (12%/mo absorbed)
• Median asking: $390,490 ($183/sqft)
• Median days on market: 54 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -4.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46074

• Rents YoY: 4.3%
• Active inventory: 1277
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,396 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$249 /mo · $2,994/yr
• Insurance: −$119
• HOA: −$255
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-225

Break-even live

Break-even rent $2,681

Max offer price $245,324

Occupancy floor —

Sensitivity live

Price	-10% $-63	-5% $-144	+0% $-225	+5% $-305	+10% $-386
Rent	-10% $-414	-5% $-319	+0% $-225	+5% $-130	+10% $-35
Rate	-1.0pp $-81	-0.5pp $-152	base $-225	+0.5pp $-298	+1.0pp $-374

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: $71,250
• Closing costs: $8,550
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18661 Moray St Sheridan, IN	3.0	2.5	1896	$2,350	$1.24	82d	1	0.12mi
18783 Mithoff Ln Westfield, IN	4.0	2.5	1803	$2,250	$1.25	74d	1	0.28mi
18612 Walsh Way Westfield, IN	4.0	2.5	1803	$2,450	$1.36	42d	1	0.47mi
717 Crispin Ln Westfield, IN	3.0	2.0	1613	$2,400	$1.49	139d	1	0.77mi
1192 Hamilton Way Westfield, IN	2.0	2.0	1210	$1,932	$1.60	0d	5	0.83mi
17995 Cunning Ct Westfield, IN	3.0	2.5	1760	$2,450	$1.39	0d	4	0.94mi
418 Elite St Westfield, IN	4.0	3.5	2310	$3,100	$1.34	82d	1	0.94mi
1418 Moose Ridge Ln Westfield, IN	3.0	2.5	2424	$2,561	$1.06	88d	1	1.03mi
19319 Winter Wheat Ln Westfield, IN	3.0	2.5	1858	$2,395	$1.29	119d	1	1.34mi
1004 Retford Dr Westfield, IN	3.0	2.0	1692	$1,966	$1.16	4d	1	1.37mi
17337 Retford Dr Westfield, IN	3.0	2.0	1370	$2,000	$1.46	9d	1	1.43mi
1034 Hendon Ct Westfield, IN	3.0	2.0	1618	$2,075	$1.28	139d	1	1.43mi
17361 Graley Pl Westfield, IN	3.0	2.5	1512	$2,500	$1.65	103d	1	1.48mi
18237 Tempo Blvd Westfield, IN	1.0–3.0	1.0–2.0	1034	$2,439	$2.36	88d	78	1.48mi
18237 Tempo Blvd Westfield, IN	1.0–3.0	1.0–2.0	1034	$2,499	$2.42	0d	79	1.48mi

Property features AI

Finance

• Other: Mandatory fee ownership interest
• HOA & community: HOA with monthly feeHOA includes insurance, irrigation, lawncare, grounds and structure maintenance, management, and snow removalCommunity amenities include clubhouse, park, playground, pool, sidewalks, street lights, pickleball and tennis courtsCovenants & restrictions and rental restrictions applyLow-maintenance lifestyle

Exterior

• Parking: Attached garage with garage door openerOne covered garage spaceGuest street parking
• Utilities: Public waterMunicipal sewer connectedElectricity connectedNatural gas connected
• Home design: Residential condominium (attached)Vertical condo, ground level descriptionTwo levels
• Construction: Vinyl with brick exteriorSlab foundationBuilder: Pulte
• Exterior features: Covered patioPatioSprinkler systemTennis court(s)Pond waterfront

Interior

• Kitchen: DishwasherGas ovenRefrigeratorDisposalExhaust fan
• Bedrooms: Three upper-level bedroomsPrimary bedroom with walk-in closet
• Flooring: Luxury vinyl plank in dining room, kitchen, and living room
• Bathrooms: Two full baths (upper), one half bath (main)Primary bathroom with full shower stall and double sinks
• Heating & cooling: Forced air heating (natural gas)Central air conditioning
• Interior features: Attic accessHigh ceilingsKitchen islandEat-in kitchenPantrySmart thermostatWalk-in closet(s)Laundry in unit
• Laundry & utility: In-unit laundry roomGas water heaterWater softener (owned)

HOA detail $255/mo · $3,060/yr

• Likely covers: water

Listing history 50 events

1. 2026-09-23
   days on market $285,000 Active 113 DOM
2. 2026-09-22
   days on market $285,000 Active 112 DOM
3. 2026-09-21
   days on market $285,000 Active 111 DOM
4. 2026-09-20
   days on market $285,000 Active 110 DOM
5. 2026-09-19
   days on market $285,000 Active 109 DOM
6. 2026-09-18
   days on market $285,000 Active 108 DOM
7. 2026-09-17
   days on market $285,000 Active 107 DOM
8. 2026-09-16
   days on market $285,000 Active 106 DOM
9. 2026-09-15
   days on market $285,000 Active 105 DOM
10. 2026-09-14
    price $285,000 Active 104 DOM
11. 2026-09-14
    days on market $293,500 Active 104 DOM
12. 2026-09-13
    days on market $293,500 Active 103 DOM
13. 2026-09-12
    days on market $293,500 Active 102 DOM
14. 2026-09-11
    days on market $293,500 Active 101 DOM
15. 2026-09-05
    days on market $293,500 Active 95 DOM
16. 2026-09-04
    days on market $293,500 Active 94 DOM
17. 2026-09-03
    days on market $293,500 Active 93 DOM
18. 2026-08-31
    days on market $293,500 Active 90 DOM
19. 2026-08-30
    days on market $293,500 Active 89 DOM
20. 2026-08-29
    days on market $293,500 Active 88 DOM
21. 2026-08-28
    days on market $293,500 Active 87 DOM
22. 2026-08-27
    days on market $293,500 Active 86 DOM
23. 2026-08-26
    days on market $293,500 Active 85 DOM
24. 2026-08-25
    pricedays on market $293,500 Active 84 DOM
25. 2026-08-24
    days on market $299,000 Active 83 DOM
26. 2026-08-23
    days on market $299,000 Active 82 DOM
27. 2026-08-22
    days on market $299,000 Active 81 DOM
28. 2026-08-21
    days on market $299,000 Active 80 DOM
29. 2026-08-20
    days on market $299,000 Active 79 DOM
30. 2026-08-19
    days on market $299,000 Active 78 DOM
31. 2026-08-18
    days on market $299,000 Active 77 DOM
32. 2026-08-17
    days on market $299,000 Active 76 DOM
33. 2026-08-16
    days on market $299,000 Active 75 DOM
34. 2026-08-15
    days on market $299,000 Active 74 DOM
35. 2026-08-14
    days on market $299,000 Active 73 DOM
36. 2026-08-13
    days on market $299,000 Active 72 DOM
37. 2026-08-12
    days on market $299,000 Active 71 DOM
38. 2026-08-11
    days on market $299,000 Active 70 DOM
39. 2026-08-10
    days on market $299,000 Active 69 DOM
40. 2026-08-09
    days on market $299,000 Active 68 DOM
41. 2026-08-08
    days on market $299,000 Active 67 DOM
42. 2026-08-07
    days on market $299,000 Active 66 DOM
43. 2026-08-06
    days on market $299,000 Active 65 DOM
44. 2026-08-05
    days on market $299,000 Active 64 DOM
45. 2026-08-04
    days on market $299,000 Active 63 DOM
46. 2026-08-03
    days on market $299,000 Active 62 DOM
47. 2026-07-31
    days on market $299,000 Active 59 DOM
48. 2026-07-30
    days on market $299,000 Active 58 DOM
49. 2026-07-30
    days on market $299,000 Active 57 DOM
50. 2026-07-28
    days on market $299,000 Active 56 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: $2,994 · $249/mo
• Projected year-2 tax: $2,994 · $249/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 · 17 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: $28,758
• − Mortgage interest: −$15,964
• − Property taxes: −$2,994
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,301
• − Management: −$2,301
• − HOA: −$3,060
• − Depreciation: −$8,291
• Taxable loss: −$7,578
• Est. tax savings @ 24.0%: +$1,819
• After-tax cash flow: $-877/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $9,480–$28,440 screening

This well-maintained, Pulte-built townhouse in Westfield's Lancaster community is move-in ready with a good condition score and minimal repairs needed.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Replace the kitchen faucet — Modernizes the kitchen and adds a fresh look. ↑
• Both Install new window treatments — Improves energy efficiency and adds a polished look. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 59/100

Zoned Schools

Elementary Monon Trail Elementary School D IN #301/994 Nat'l #13,933/41,679 Middle Westfield Middle School B- IN #31/330 Nat'l #2,699/14,009 High Westfield High School B+ IN #8/369 Nat'l #1,820/17,239

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

B Composite livability gradescore 71/100

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 · 381,938 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: 8% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Other: Mandatory fee ownership interest
• HOA & community: HOA with monthly feeHOA includes insurance, irrigation, lawncare, grounds and structure maintenance, management, and snow removalCommunity amenities include clubhouse, park, playground, pool, sidewalks, street lights, pickleball and tennis courtsCovenants & restrictions and rental restrictions applyLow-maintenance lifestyle

Exterior

• Parking: Attached garage with garage door openerOne covered garage spaceGuest street parking
• Utilities: Public waterMunicipal sewer connectedElectricity connectedNatural gas connected
• Home design: Residential condominium (attached)Vertical condo, ground level descriptionTwo levels
• Construction: Vinyl with brick exteriorSlab foundationBuilder: Pulte
• Exterior features: Covered patioPatioSprinkler systemTennis court(s)Pond waterfront

Interior

• Kitchen: DishwasherGas ovenRefrigeratorDisposalExhaust fan
• Bedrooms: Three upper-level bedroomsPrimary bedroom with walk-in closet
• Flooring: Luxury vinyl plank in dining room, kitchen, and living room
• Bathrooms: Two full baths (upper), one half bath (main)Primary bathroom with full shower stall and double sinks
• Heating & cooling: Forced air heating (natural gas)Central air conditioning
• Interior features: Attic accessHigh ceilingsKitchen islandEat-in kitchenPantrySmart thermostatWalk-in closet(s)Laundry in unit
• Laundry & utility: In-unit laundry roomGas water heaterWater softener (owned)

Price history

-6.2% since first listed

6 events — show timeline

• 2026-07-02 Price Changed $305,000 MIBOR as Distributed by MLS Grid
• 2026-06-02 Listed $310,000 MIBOR as Distributed by MLS Grid
• 2026-05-19 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-20 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-27 Price Changed $322,500 MIBOR as Distributed by MLS Grid
• 2026-03-05 Listed $325,000 MIBOR as Distributed by MLS Grid

Property tax history

+294.8%/yr

Latest (2025): $2,994 · -6.0% YoY. Source: county tax records.