Aspen II Plan · Westfield, IN 46069

$381,995

4 bd · 2.5 ba · 2,176 sqft · SingleFamily · 1096 Days on market

Good condition

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Why this score? — see what drove the F 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 +7.5/30.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Aspen II floorplan has it all- from a spacious home office, a large loft, and four bedrooms with plenty of space. You can't go wrong choosing this floorplan! With an open concept living and kitchen area, entertaining is effortless. While we have built many homes, you build only one. From budgeting to closing and beyond, we'll be by your side.

Key facts

• 2 parking spots
• Listed 1095 days

🏗️ New construction. The $381,995 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $441,224.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $382k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-540 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $363k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $318k (16.8% below list).
• Recommended offer: $318k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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: 231 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 165d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,661 units permitted in Hamilton County in 2024 (1,528 in 5+ unit buildings).
• At $3,176/mo this rent would consume 54% of the median local household income ($71k/yr) — 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 $13k 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 1096 days — a 12% lower offer ($336k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $317,631 (16.8% 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 1096 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.72% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.24%
• DSCR: 0.77
• GRM: 11.6

CMA / ARV

• ARV (median comp): $441,224
• List price: $381,995
• Delta: -13.42%
• 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
489 Grenada Knl	0.39mi	4/3.0	2,173 (-0%)	5mo	$452,000	$208	76
20046 Rippling Rock Ct	0.27mi	3/3.0 (-1)	2,290 (+5%)	7mo	$600,000	$262	66
20051 Cowie Ln	0.33mi	3/2.0 (-1)	2,024 (-7%)	6mo	$474,900	$235	61
20429 Atchison Way	0.28mi	3/2.5 (-1)	2,362 (+8%)	8mo	$488,500	$207	61
19844 Baisley Trl	0.47mi	3/3.0 (-1)	2,308 (+6%)	3mo	$545,000	$236	58
20330 Hudson Bay Ln	0.41mi	4/2.5	2,396 (+10%)	11mo	$449,990	$188	55
20361 Hudson Bay Ln	0.40mi	3/2.5 (-1)	2,395 (+10%)	9mo	$420,000	$175	52
19812 Sutton Ter	0.52mi	3/2.0 (-1)	2,024 (-7%)	8mo	$475,000	$235	50
418 Ehrlich Ln	0.47mi	3/2.0 (-1)	1,916 (-12%)	1mo	$474,500	$248	50
19642 Mcdonald Pl	0.73mi	3/2.0 (-1)	2,012 (-8%)	0mo	$450,000	$224	46
19779 Mcdonald Pl	0.58mi	3/2.0 (-1)	2,024 (-7%)	13mo	$445,000	$220	44
19607 Mcdonald Pl	0.75mi	3/2.0 (-1)	2,024 (-7%)	10mo	$475,000	$235	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -25.2%
• Equity multiple: 0.14×
• Total profit: $-105,837
• Equity at exit: $65,788

10-year hold

• IRR: -21.3%
• Equity multiple: -0.10×
• Total profit: $-136,245
• Equity at exit: $38,149

Cash invested: $123,543 (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: 21 active · 17 under contract
• Months of supply: 7.4 mo (13%/mo absorbed)
• Median asking: $499,000 ($201/sqft)
• Median days on market: 79 d
• This list price: 24% of active listings are priced below it
• ARV vs active asking: +0.8% vs current asking $/sqft

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

ZIP-level market 46069

• Home prices YoY: -28.2%
• Active inventory: 231
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,176 medium
• Mortgage (P&I): −$2,314
• Tax est. 1.5%: −$552 /mo · $6,618/yr
• Insurance: −$184
• HOA: −$0
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $-540

Break-even live

Break-even rent $3,860

Max offer price $363,097

Occupancy floor —

Sensitivity live

Price	-10% $-235	-5% $-387	+0% $-540	+5% $-692	+10% $-845
Rent	-10% $-791	-5% $-665	+0% $-540	+5% $-414	+10% $-289
Rate	-1.0pp $-318	-0.5pp $-428	base $-540	+0.5pp $-654	+1.0pp $-771

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: $110,306
• Closing costs: $13,237
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
197 Cape May Dr Westfield, IN	3.0	2.5	2319	$3,200	$1.38	26d	1	0.10mi
19776 Baisley Trl Westfield, IN	3.0	3.0	2730	$3,500	$1.28	184d	1	0.59mi
19441 Beruna Way Westfield, IN	5.0	3.0	2480	$3,100	$1.25	128d	1	0.85mi
19319 Winter Wheat Ln Westfield, IN	3.0	2.5	1858	$2,395	$1.29	164d	1	1.15mi

Listing history 50 events

1. 2026-11-08
   days on market $381,995 Active 1096 DOM
2. 2026-11-07
   days on market $381,995 Active 1095 DOM
3. 2026-11-06
   days on market $381,995 Active 1094 DOM
4. 2026-11-05
   days on market $381,995 Active 1093 DOM
5. 2026-11-04
   days on market $381,995 Active 1092 DOM
6. 2026-11-02
   days on market $381,995 Active 1090 DOM
7. 2026-11-01
   days on market $381,995 Active 1089 DOM
8. 2026-10-31
   days on market $381,995 Active 1088 DOM
9. 2026-10-30
   days on market $381,995 Active 1087 DOM
10. 2026-10-29
    days on market $381,995 Active 1086 DOM
11. 2026-10-28
    days on market $381,995 Active 1085 DOM
12. 2026-10-27
    days on market $381,995 Active 1084 DOM
13. 2026-10-26
    days on market $381,995 Active 1083 DOM
14. 2026-10-25
    days on market $381,995 Active 1082 DOM
15. 2026-10-24
    days on market $381,995 Active 1081 DOM
16. 2026-10-23
    days on market $381,995 Active 1080 DOM
17. 2026-10-22
    days on market $381,995 Active 1079 DOM
18. 2026-10-21
    days on market $381,995 Active 1078 DOM
19. 2026-10-20
    days on market $381,995 Active 1077 DOM
20. 2026-10-19
    days on market $381,995 Active 1076 DOM
21. 2026-10-18
    days on market $381,995 Active 1075 DOM
22. 2026-10-17
    days on market $381,995 Active 1074 DOM
23. 2026-10-16
    days on market $381,995 Active 1073 DOM
24. 2026-10-15
    days on market $381,995 Active 1072 DOM
25. 2026-10-14
    days on market $381,995 Active 1071 DOM
26. 2026-10-13
    days on market $381,995 Active 1070 DOM
27. 2026-10-12
    days on market $381,995 Active 1069 DOM
28. 2026-10-11
    days on market $381,995 Active 1068 DOM
29. 2026-10-10
    days on market $381,995 Active 1067 DOM
30. 2026-10-09
    days on market $381,995 Active 1066 DOM
31. 2026-10-08
    days on market $381,995 Active 1065 DOM
32. 2026-10-07
    days on market $381,995 Active 1064 DOM
33. 2026-10-06
    days on market $381,995 Active 1063 DOM
34. 2026-10-05
    days on market $381,995 Active 1062 DOM
35. 2026-10-04
    days on market $381,995 Active 1061 DOM
36. 2026-10-04
    days on market $381,995 Active 1060 DOM
37. 2026-10-02
    days on market $381,995 Active 1059 DOM
38. 2026-10-01
    days on market $381,995 Active 1058 DOM
39. 2026-09-30
    days on market $381,995 Active 1057 DOM
40. 2026-09-29
    days on market $381,995 Active 1056 DOM
41. 2026-09-28
    days on market $381,995 Active 1055 DOM
42. 2026-09-27
    days on market $381,995 Active 1054 DOM
43. 2026-09-25
    days on market $381,995 Active 1052 DOM
44. 2026-09-24
    days on market $381,995 Active 1051 DOM
45. 2026-09-23
    days on market $381,995 Active 1050 DOM
46. 2026-09-22
    days on market $381,995 Active 1049 DOM
47. 2026-09-21
    days on market $381,995 Active 1048 DOM
48. 2026-09-20
    days on market $381,995 Active 1047 DOM
49. 2026-09-19
    days on market $381,995 Active 1046 DOM
50. 2026-09-18
    days on market $381,995 Active 1045 DOM

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 67% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,116
• − Mortgage interest: −$24,715
• − Property taxes: −$6,618
• − Insurance: −$2,206
• − Repairs & maintenance: −$3,049
• − Management: −$3,049
• − Depreciation: −$12,836
• Taxable loss: −$14,358
• Est. tax savings @ 24.0%: +$3,446
• After-tax cash flow: $-3,033/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 $10,880–$32,640 screening

This home is in good condition with a good condition score of 80. It has a cosmetic rehab level and requires minor maintenance. The highest-ROI updates to increase its value are painting the exterior trim and cleaning the gutters.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ 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 · 381,938 people
• City population: 48,901
• Metro: Indianapolis-Carmel-Greenwood, IN
• Population (ZIP): 6,924
• Household income: $70,784
• Rent vs Own: 19.9% rent · 80.1% 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 (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 2%
• Languages at home: 99% English-only · Spanish 1%

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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: ▼ -88.24%
• Current HPI: 224.338
• Rent YoY: —
• Metro: —
• 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

Price history

+5.8% since first listed

7 events — show timeline

• 2024-10-17 Price Changed $381,995 Zillow
• 2024-06-05 Price Changed $378,995 Zillow
• 2024-04-22 Price Changed $374,995 Zillow
• 2024-04-17 Price Changed $370,995 Zillow
• 2024-02-26 Price Changed $367,995 Zillow
• 2024-02-01 Price Changed $362,995 Zillow
• 2023-11-08 Listed $360,995 Zillow