6178 N Woodhaven Dr · McCordsville, IN 46055

$309,900

3 bd · 2.0 ba · 1,625 sqft · SingleFamily public records · 62 Days on market

Built 2013 8,276 sqft lot Est $320k · at est. $45/mo HOA · 2% of rent

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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 +11.6/30.0
• ARV discount +8.9/15.0
• Schools +4.1/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Freshly painted split floorplan ranch in McCordsville. Open Concept bright kitchen and granite counters opened to large living room with lots of windows to bring in the natural light. You will find brand new carpet in each bedroom and luxury plank flooring throughout the rest of the home. Big backyard to run and play. 2023 water heater. Stay active with community pool, tennis & basketball courts, park, playground and walking trails.

Key facts

• Open concept kitchen
• Granite counters
• Turn key property

Tags

• TURN KEY PROPERTY
• SPLIT FLOORPLAN RANCH
• FRESHLY PAINTED INTERIOR
• OPEN CONCEPT KITCHEN
• GRANITE COUNTERS
• CENTER ISLAND WITH SEATING

Property features AI

Finance

• Other: Ownership interest: mandatory fee
• HOA & community: Homeowners association with annual fee; Annual association fee is $540; HOA covers entrance common areas, insurance, maintenance, and park/playground; Community amenities include pool, playground, basketball court, park, maintenance, and insurance; HOA governed by covenants and restrictions

Exterior

• Parking: Attached garage; Two-car garage (about 400 sq ft)
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connected; 200+ amp electric service
• Home design: Single-family residence; One story
• Construction: Vinyl with brick exterior; Slab foundation
• Exterior features: Covered patio/porch; Deck; Full privacy fence with gate; Sidewalks

Interior

• Kitchen: Dishwasher; Electric oven; Microwave with hood; Disposal; Pantry; Eat-in kitchen
• Bedrooms: Primary bedroom with walk-in closet; Three bedrooms on the main level
• Bathrooms: Two full bathrooms; Primary bathroom with garden tub, full shower stall, and double sinks
• Heating & cooling: Electric heating; Heat pump for heating and cooling
• Interior features: Attic access; Eat-in kitchen; Pantry; Walk-in closet(s); Painted woodwork; Smoke alarm
• Laundry & utility: Washer; Dryer; Laundry on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $310k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $293k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (22.7% below list).
• Recommended offer: $240k (22.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 $2k of loan paydown is wiped out by about $9k 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

• It's been on market 62 days — a 6% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $239,598 (22.7% 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 62 days. Have you received any prior offers? Is the seller open to a 23% 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 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?
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: 0.77% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.31%
• DSCR: 0.94
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $320,125
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5515 Woods Pointe Dr	0.39mi	2/2.0 (-1)	1,648 (+1%)	2mo	$320,000	$194	73
6236 N Woods Edge Ct	0.13mi	3/2.0	1,418 (-13%)	1mo	$315,000	$222	72
5486 W Woodhaven Dr	0.37mi	3/2.0	1,648 (+1%)	15mo	$324,900	$197	68
5465 W Woodhaven Dr	0.39mi	3/2.0	1,648 (+1%)	22mo	$335,000	$203	61
5526 Wood Spring Ln	0.35mi	2/2.0 (-1)	1,648 (+1%)	21mo	$315,000	$191	59
5462 Wood Spg Ln	0.45mi	3/2.5	1,864 (+15%)	14mo	$339,900	$182	41

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: -16.2%
• Equity multiple: 0.41×
• Total profit: $-50,917
• Equity at exit: $46,207

10-year hold

• IRR: -4.7%
• Equity multiple: 0.66×
• Total profit: $-29,276
• Equity at exit: $26,794

Cash invested: $86,772 (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: 10.8×

Monthly cashflow live

• Estimated rent: $2,396 high
• Mortgage (P&I): −$1,625
• Tax from tax record: −$188 /mo · $2,255/yr
• Insurance: −$129
• HOA: −$45
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-94

Break-even live

Break-even rent $2,515

Max offer price $293,229

Occupancy floor 99%

Sensitivity live

Price	-10% $81	-5% $-7	+0% $-94	+5% $-182	+10% $-270
Rent	-10% $-284	-5% $-189	+0% $-94	+5% $0	+10% $95
Rate	-1.0pp $62	-0.5pp $-16	base $-94	+0.5pp $-175	+1.0pp $-256

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: $77,475
• Closing costs: $9,297
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5510 Wood Spring Ln McCordsville, IN	3.0	2.5	2009	$2,091	$1.04	23d	1	0.38mi
5871 Broadacre Dr McCordsville, IN	1.0–3.0	1.0–2.0	978	$2,285	$2.34	3d	150	0.45mi
5702 N Jefferson Dr McCordsville, IN	3.0	2.5	2093	$2,086	$1.00	8d	1	0.85mi
6267 Cypress Ct McCordsville, IN	3.0	2.0	1673	$2,500	$1.49	3d	1	0.86mi
6641 W Jamestown Dr McCordsville, IN	4.0	2.5	2035	$2,195	$1.08	24d	1	0.92mi
6654 Willow Way McCordsville, IN	3.0–4.0	2.0–2.5	1810	$2,485	$1.37	3d	10	0.99mi
5790 Arcade Blvd McCordsville, IN	3.0	2.5	2021	$2,250	$1.11	21d	1	1.26mi
7298 N Kensington Way Unit 6311-213 McCordsville, IN	2.0	2.0	1109	$2,050	$1.85	3d	1	1.27mi
7044 N Mesquite Ct McCordsville, IN	3.0	2.0	2073	$1,991	$0.96	8d	1	1.35mi
N Kensington Way McCordsville, IN	1.0–2.0	1.0–2.0	968	$2,375	$2.45	21d	6	1.41mi
5811 Main St McCordsville, IN	1.0–2.0	1.0–2.0	926	$2,140	$2.31	3d	14	1.43mi

HOA detail

• Monthly dues: $45 · $540/yr
• Likely covers: waterpool

Listing history 24 events

1. 2026-06-21
   days on market $309,900 Active 62 DOM
2. 2026-06-18
   days on market $309,900 Active 59 DOM
3. 2026-06-17
   days on market $309,900 Active 58 DOM
4. 2026-06-16
   days on market $309,900 Active 57 DOM
5. 2026-06-15
   days on market $309,900 Active 56 DOM
6. 2026-06-13
   days on market $309,900 Active 54 DOM
7. 2026-06-13
   days on market $309,900 Active 53 DOM
8. 2026-06-09
   days on market $309,900 Active 50 DOM
9. 2026-06-08
   days on market $309,900 Active 49 DOM
10. 2026-06-07
    days on market $309,900 Active 48 DOM
11. 2026-06-05
    days on market $309,900 Active 45 DOM
12. 2026-06-03
    days on market $309,900 Active 44 DOM
13. 2026-06-02
    days on market $309,900 Active 43 DOM
14. 2026-06-01
    days on market $309,900 Active 42 DOM
15. 2026-05-31
    days on market $309,900 Active 41 DOM
16. 2026-05-22
    price $309,900
17. 2026-05-07
    price $314,900
18. 2026-04-23
    status Active
19. 2026-04-06
    status Pending
20. 2026-04-03
    listed $319,900 Active
21. 2024-04-18
    soldstatus $295,000 Closed 441-char remark

    Show marketing remark (441 chars)

    Freshly painted split floorplan ranch in McCordsville. Open Concept bright kitchen and granite counters opened to large living room with lots of windows to bring in the natural light. You will find brand new carpet in each bedroom and luxury plank flooring throughout the rest of the home. Big backyard to run and play. 2023 water heater. Stay active with community pool, tennis & basketball courts, park, playground and walking trails.

22. 2024-03-28
    status Pending 441-char remark

    Show marketing remark (441 chars)

    Freshly painted split floorplan ranch in McCordsville. Open Concept bright kitchen and granite counters opened to large living room with lots of windows to bring in the natural light. You will find brand new carpet in each bedroom and luxury plank flooring throughout the rest of the home. Big backyard to run and play. 2023 water heater. Stay active with community pool, tennis & basketball courts, park, playground and walking trails.

23. 2024-03-14
    price $298,900 441-char remark

    Show marketing remark (441 chars)

    Freshly painted split floorplan ranch in McCordsville. Open Concept bright kitchen and granite counters opened to large living room with lots of windows to bring in the natural light. You will find brand new carpet in each bedroom and luxury plank flooring throughout the rest of the home. Big backyard to run and play. 2023 water heater. Stay active with community pool, tennis & basketball courts, park, playground and walking trails.

24. 2024-01-25
    listed $299,900 Active 441-char remark

    Show marketing remark (441 chars)

    Freshly painted split floorplan ranch in McCordsville. Open Concept bright kitchen and granite counters opened to large living room with lots of windows to bring in the natural light. You will find brand new carpet in each bedroom and luxury plank flooring throughout the rest of the home. Big backyard to run and play. 2023 water heater. Stay active with community pool, tennis & basketball courts, park, playground and walking trails.

ⓘ 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: $2,255 · $188/mo
• Projected year-2 tax: $2,445 · $204/mo
• Expected delta: +$190/yr (+$16/mo · 8.4%)

ⓘ 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: $28,752
• − Mortgage interest: −$17,359
• − Property taxes: −$2,255
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,300
• − Management: −$2,300
• − HOA: −$540
• − Depreciation: −$9,015
• Taxable loss: −$6,568
• Est. tax savings @ 24.0%: +$1,576
• After-tax cash flow: $444/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

+3.3% since first listed

9 events — show timeline

• 2026-05-22 Price Changed $309,900 MIBOR as Distributed by MLS Grid
• 2026-05-07 Price Changed $314,900 MIBOR as Distributed by MLS Grid
• 2026-04-23 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-06 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-03 Listed $319,900 MIBOR as Distributed by MLS Grid
• 2024-04-18 Sold (MLS) $295,000 MIBOR as Distributed by MLS Grid
• 2024-03-28 Pending — MIBOR as Distributed by MLS Grid
• 2024-03-14 Price Changed $298,900 MIBOR as Distributed by MLS Grid
• 2024-01-25 Listed $299,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2025): $2,255 · -5.7% YoY. Source: county tax records.