5682 W Port Dr · McCordsville, IN 46055

$414,500

4 bd · 3.5 ba · 3,791 sqft · SingleFamily public records · 18 Days on market

Built 2008 0.26 ac lot Est $553k · 25% under

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Why this score? — see what drove the B 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 +27.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +7.2/10.0
• Schools +4.1/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Excellent investment opportunity with this home to make it yours however you wish. This amazing opportunity is sold AS-IS.

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 2008

Property features AI

Exterior

• Parking: Attached 2-car garage (approximately 712 sq ft)
• Utilities: Public water; Municipal sewer connection; Solid waste service available
• Home design: Single family residence; Two levels
• Construction: Brick and wood siding exterior; Concrete perimeter foundation
• Exterior features: Approximately 0.26-acre lot (about 1/4–1/2 acre)

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: Four bedrooms on the upper level; Additional bedrooms / rooms across main and basement levels (total rooms: 12)
• Bathrooms: Three full bathrooms (including one in the basement); One half bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic access; Finished basement
• Laundry & utility: Upper-level laundry room (8x7)

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $414k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $414k).
• Recommended offer: $408k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 3.9% in McCordsville — 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 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.
• Market conditions: Rents rising fast (+5.2%/yr); 425 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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).
• At $5,047/mo this rent would consume 53% of the median local household income ($114k/yr) (locally 58% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $116k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($408k) is reasonable based on typical stale-listing flexibility.

Recommended offer $408,282 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.22% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.16%
• DSCR: 1.59
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $553,486
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9712 N Port Dr	0.22mi	5/3.5 (+1)	3,487 (-8%)	0mo	$484,000	$139	71
5401 W Stream Dr	0.37mi	5/4.5 (+1)	3,690 (-3%)	0mo	$565,000	$153	69
5234 Pelion Pl	0.53mi	5/4.5 (+1)	3,792 (0%)	0mo	$572,000	$151	66
5345 Ridgecrest Ln	0.35mi	5/4.5 (+1)	3,725 (-2%)	7mo	$545,000	$146	66
9091 Drakeswood Ave	0.53mi	5/4.5 (+1)	3,716 (-2%)	1mo	$555,500	$149	62
9333 N Bayhill Cir	0.29mi	4/2.5	4,236 (+12%)	4mo	$415,000	$98	59
9148 Rockville Pl	0.55mi	5/4.5 (+1)	3,726 (-2%)	6mo	$435,000	$117	57
9773 N Moonstone Pl	0.43mi	3/3.0 (-1)	4,017 (+6%)	8mo	$595,000	$148	56
9195 N Coral Reef Rd	0.63mi	4/2.5	4,041 (+7%)	0mo	$459,000	$114	55
6155 W Bayfront	0.58mi	4/3.0	4,074 (+8%)	9mo	$400,000	$98	51
9800 Ridgecrest Ln	0.51mi	5/3.5 (+1)	3,344 (-12%)	4mo	$405,000	$121	48
5181 Golden Grove Dr	0.59mi	5/3.5 (+1)	3,320 (-12%)	6mo	$485,000	$146	42

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: 5.5%
• Equity multiple: 1.22×
• Total profit: $25,204
• Equity at exit: $61,803

10-year hold

• IRR: 16.7%
• Equity multiple: 2.51×
• Total profit: $174,813
• Equity at exit: $35,838

Cash invested: $116,060 (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 46055

• Home prices YoY: -20.1%
• Rents YoY: 5.2%
• Active inventory: 425
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $5,047 medium
• Mortgage (P&I): −$2,174
• Tax from tax record: −$368 /mo · $4,413/yr
• Insurance: −$173
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,060
• Net cashflow: $1,273

Break-even live

Break-even rent $3,436

Max offer price $414,500

Occupancy floor 70%

Sensitivity live

Price	-10% $1,508	-5% $1,390	+0% $1,273	+5% $1,156	+10% $1,038
Rent	-10% $874	-5% $1,074	+0% $1,273	+5% $1,472	+10% $1,672
Rate	-1.0pp $1,482	-0.5pp $1,378	base $1,273	+0.5pp $1,166	+1.0pp $1,056

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: $103,625
• Closing costs: $12,435
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8775 N Springview Dr McCordsville, IN	4.0	2.5	3062	$2,476	$0.81	13d	1	0.74mi
10057 Backstretch Row Unit NA Fortville, IN	5.0	5.0	5541	$4,499	$0.81	2d	1	1.08mi
10599 Geist View Dr Fishers, IN	5.0	4.5	5119	$7,500	$1.47	8d	1	1.44mi
10599 Geist View Dr Fishers, IN	5.0	4.5	5119	$11,900	$2.32	44d	1	1.44mi

Listing history 13 events

1. 2026-06-21
   days on market $414,500 Active 18 DOM
2. 2026-06-18
   days on market $414,500 Active 15 DOM
3. 2026-06-17
   price $414,500 Active 14 DOM
4. 2026-06-17
   days on market $424,900 Active 14 DOM
5. 2026-06-16
   days on market $424,900 Active 13 DOM
6. 2026-06-15
   days on market $424,900 Active 12 DOM
7. 2026-06-13
   days on market $424,900 Active 10 DOM
8. 2026-06-13
   days on market $424,900 Active 9 DOM
9. 2026-06-09
   days on market $424,900 Active 6 DOM
10. 2026-06-08
    days on market $424,900 Active 5 DOM
11. 2026-06-07
    days on market $424,900 Active 4 DOM
12. 2026-06-05
    remarks 122-char remark
13. 2026-06-05
    listed $424,900 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: $4,413 · $368/mo
• Projected year-2 tax: $4,413 · $368/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 ≥100°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: $60,564
• − Mortgage interest: −$23,218
• − Property taxes: −$4,413
• − Insurance: −$2,072
• − Repairs & maintenance: −$4,845
• − Management: −$4,845
• − Depreciation: −$12,058
• Taxable income: $9,112
• Est. tax owed @ 24.0%: −$2,187
• After-tax cash flow: $13,089/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: 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

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 · 59,521 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: 58.0

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 (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%

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

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

1 event — show timeline

• 2026-06-03 Listed $424,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2025): $4,413 · -5.5% YoY. Source: county tax records.