5600 Palazzo Ln · McCordsville, IN 46055

$403,995

5 bd · 3.0 ba · 2,578 sqft · SingleFamily · 7 Days on market

Built 2026 Good condition $157/sqft · 7% below area Est $435k · 7% 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).

• ARV discount +10.7/15.0
• Cash flow +6.9/30.0
• Schools +4.8/10.0
• Condition / age +4.0/5.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

The first floor of this two-story home is host to an inviting open floorplan consisting of a Great Room, dining area and modern kitchen. A bedroom on the primary floor is ideal for a guest suite or home office. Upstairs, there are four additional bedrooms, including the luxe owner's suite. A versatile loft provides a shared living area on the second floor.

Key facts

• Luxe owner's suite
• Open floorplan
• Modern kitchen

Tags

• OPEN FLOORPLAN
• MODERN KITCHEN
• GUEST SUITE
• HOME OFFICE
• LUXE OWNER'S SUITE
• VERSATILE LOFT

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $404k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-607 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $316k (21.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $277k (31.5% below list).
• Recommended offer: $277k (31.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#181 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mt Vernon Community School Corporation (rural): math 43% / reading 48% proficiency, ranked #70 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Mccordsville Elementary School (math 54% / reading 38%, grade D-, #357 of 994 statewide, top 37%, 673 students, 25% FRL); Mt Vernon Middle School (math 37% / reading 46%, grade F, #108 of 330 statewide, top 34%, 1,070 students, 31% FRL); Mt Vernon High School (math 41% / reading 71%, grade C, #73 of 369 statewide, top 20%, 1,431 students, 27% FRL).
• Market conditions: Rents rising fast (+5.2%/yr); 580 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $3k of loan paydown is wiped out by about $12k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $276,586 (31.5% 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. 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: 0.68% ✗
• Cap rate: 4.49%
• Cash-on-cash: -6.44%
• DSCR: 0.71
• GRM: 12.2

CMA / ARV

• ARV (median comp): $435,067
• List price: $403,995
• Delta: -7.14%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5713 Palazzo Ln	0.04mi	4/3.0 (-1)	2,561 (-1%)	6mo	$415,000	$162	87
5740 Cloister Ln	0.07mi	4/3.0 (-1)	2,674 (+4%)	4mo	$404,783	$151	82
5786 Arcade Blvd	0.12mi	4/3.5 (-1)	2,817 (+9%)	2mo	$387,999	$138	70
5807 CR W 750 N	0.16mi	4/3.5 (-1)	2,817 (+9%)	3mo	$409,999	$146	68
5647 Arcade Blvd	0.07mi	4/2.5 (-1)	2,243 (-13%)	3mo	$389,999	$174	66
7216 Portico Ln	0.24mi	4/3.5 (-1)	2,895 (+12%)	2mo	$519,990	$180	60
7076 Portico Ln	0.31mi	5/3.0	2,922 (+13%)	5mo	$474,990	$163	59
7172 Portico Ln	0.26mi	4/2.5 (-1)	2,917 (+13%)	4mo	$499,990	$171	56
7282 Portico Ln	0.21mi	4/3.5 (-1)	2,946 (+14%)	5mo	$499,990	$170	55
7246 Broadview Ln	0.62mi	4/2.5 (-1)	2,421 (-6%)	0mo	$454,990	$188	54
7288 Broadview Ln	0.61mi	4/2.5 (-1)	2,491 (-3%)	6mo	$400,000	$161	54
7085 Maidstone Cv	0.65mi	5/3.5	2,848 (+10%)	2mo	$470,720	$165	49

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 · 5.18% rent growth · sell at horizon

5-year hold

• IRR: -25.0%
• Equity multiple: 0.13×
• Total profit: $-97,877
• Equity at exit: $60,237

10-year hold

• IRR: -15.5%
• Equity multiple: 0.04×
• Total profit: $-108,236
• Equity at exit: $34,930

Cash invested: $113,119 (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: 40 active · 24 under contract
• Months of supply: 12.6 mo (8%/mo absorbed)
• Median asking: $461,600 ($166/sqft)
• Median days on market: 95 d
• This list price: 15% of active listings are priced below it
• ARV vs active asking: +1.8% vs current asking $/sqft

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

ZIP-level market 46055

• Home prices YoY: -20.1%
• Rents YoY: 5.2%
• Active inventory: 580
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,766 high
• Mortgage (P&I): −$2,119
• Tax est. 1.5%: −$505 /mo · $6,060/yr
• Insurance: −$168
• HOA: −$0
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $-607

Break-even live

Break-even rent $3,534

Max offer price $316,177

Occupancy floor —

Sensitivity live

Price	-10% $-328	-5% $-467	+0% $-607	+5% $-746	+10% $-886
Rent	-10% $-825	-5% $-716	+0% $-607	+5% $-498	+10% $-388
Rate	-1.0pp $-403	-0.5pp $-504	base $-607	+0.5pp $-712	+1.0pp $-818

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: $100,999
• Closing costs: $12,120
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5593 W Woodhaven Dr McCordsville, IN	4.0	2.5	2988	$2,246	$0.75	9d	1	1.12mi
8560 N Springview Dr McCordsville, IN	4.0	2.5	3087	$2,600	$0.84	5d	1	1.19mi
6770 W Denton Dr McCordsville, IN	4.0	2.5	2105	$2,245	$1.07	9d	1	1.22mi
6492 W Riverside Rd McCordsville, IN	5.0	2.5	2591	$2,666	$1.03	4d	1	1.29mi
6077 W Jamison Dr McCordsville, IN	4.0	2.5	1951	$2,499	$1.28	83d	1	1.32mi
6584 Willow Way McCordsville, IN	4.0	2.5	1948	$2,275	$1.17	0d	1	1.33mi
6571 Willow Way McCordsville, IN	4.0	2.5	1948	$2,590	$1.33	83d	1	1.34mi
8728 N Springview Dr McCordsville, IN	4.0	2.5	2271	$2,346	$1.03	67d	1	1.35mi
6654 Willow Way McCordsville, IN	3.0–4.0	2.0–2.5	1810	$2,575	$1.42	0d	10	1.37mi
8775 N Springview Dr McCordsville, IN	4.0	2.5	3062	$2,316	$0.76	88d	1	1.40mi
6874 Nottingham Ln McCordsville, IN	4.0	2.5	2396	$2,400	$1.00	9d	1	1.45mi
6233 Sycamore Dr McCordsville, IN	4.0	2.5	1948	$2,635	$1.35	7d	1	1.45mi
6802 N Denton Ct McCordsville, IN	4.0	2.5	2858	$2,306	$0.81	64d	1	1.47mi

Listing history 5 events

1. 2026-06-05
   days on market $403,995 Active 7 DOM
2. 2026-06-03
   days on market $403,995 Active 6 DOM
3. 2026-06-02
   days on market $403,995 Active 5 DOM
4. 2026-06-01
   days on market $403,995 Active 4 DOM
5. 2026-05-31
   days on market $403,995 Active 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $33,190
• − Mortgage interest: −$22,630
• − Property taxes: −$6,060
• − Insurance: −$2,020
• − Repairs & maintenance: −$2,655
• − Management: −$2,655
• − Depreciation: −$11,753
• Taxable loss: −$14,583
• Est. tax savings @ 24.0%: +$3,500
• After-tax cash flow: $-3,783/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 $12,890–$38,670 screening

This two-story home features a modern kitchen, spacious bedrooms, and a well-maintained exterior. It is in good condition and ready for a new owner or tenant.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring in the bathrooms — Modern flooring can improve both resale and rental value. ↑
• Both Upgrading the kitchen appliances — Newer appliances can attract more buyers and renters. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and energy-efficient. ↑

ⓘ 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.

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary Mccordsville Elementary School D- IN #357/994 Nat'l #15,585/41,679 Middle Mt Vernon Middle School F IN #108/330 Nat'l #5,602/14,009 High Mt Vernon High School C IN #73/369 Nat'l #4,311/17,239

Schools (NCES district)

• District: Mt Vernon Community School Corporation
• NCES district ID: 1807260
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $73,671
• Composite: 41.3/100
• National rank: #3514
• State rank: #70 of 301 in IN

C Composite livability gradescore 69/100

Livability — McCordsville

• Score: 69/100
• State rank: #181
• US rank: #8388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McCordsville, IN
• County: Hancock County · 77,820 people
• City population: 16,010
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 16,010
• Household income: $113,784
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 7% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 13% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Lithuanian 3% Italian 3% Romanian 3%
• Foreign-born: 4% · Canada, Vietnam, Jamaica
• Languages at home: 94% English-only · Spanish 4%

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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: ▼ -52.35%
• Current HPI: 207.9764
• Rent YoY: ▲ 5.18%
• 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