18762 Terra Vista Pl · Westfield, IN 46074

$295,000

3 bd · 2.5 ba · 1,896 sqft · Townhouse public records · 159 Days on market

Built 2022 Excellent condition 3,485 sqft lot $156/sqft · 10% below area Est $329k · 10% under $255/mo HOA · 11% of rent ↓ 3% since listing

---

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).

• ARV discount +12.2/15.0
• Schools +5.9/10.0
• Condition / age +4.8/5.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• 1% rule +3.2/10.0
• Cash flow +1.4/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this 1,858-square-foot end-unit townhouse in Westfield's desirable Lancaster subdivision. Built in 2022 by Pulte Homes, this residence offers three bedrooms and two-and-a-half baths across two levels of modern living space. The main floor features an open-concept great room and a kitchen with a center island, while the upper level includes a primary suite with a walk-in closet and double-sink vanity. Residents of this community benefit from a low-maintenance lifestyle, all while being situated in the top-rated Westfield-Washington School District. Perfectly positioned for convenience, the property is located near the Monon Trail, Grand Park Sports Campus, and a variety of premier shopping and dining options along the SR 32 corridor. This home is sold as-is, providing a unique chance to gain entry into one of Central Indiana's fastest-growing areas.

Key facts

• Double-sink vanity
• Near monon trail
• End-unit townhouse

Tags

• END-UNIT TOWNHOUSE
• OPEN-CONCEPT GREAT ROOM
• KITCHEN WITH CENTER ISLAND
• DOUBLE-SINK VANITY
• NEAR MONON TRAIL
• NEAR GRAND PARK SPORTS CAMPUS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $295k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (19.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (18.2% below list).
• Recommended offer: $239k (19.0% below list) — sets the bar for cash-flow.
• Cap rate 1.6% vs local median 3.2% in Westfield — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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); 1050 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 42d 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 159 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price.

Recommended offer $238,940 (19.0% 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 159 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.82% ✗
• Cap rate: 1.57%
• Cash-on-cash: -16.86%
• DSCR: 0.25
• GRM: 10.2

CMA / ARV

• ARV (median comp): $329,178
• List price: $295,000
• Delta: -10.38%
• 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
669 Garrow Dr	0.02mi	3/2.5	1,854 (-2%)	2mo	$324,000	$175	93
663 Garrow Dr	0.01mi	3/2.5	1,854 (-2%)	3mo	$335,000	$181	93
681 Garrow Dr	0.03mi	3/2.5	1,854 (-2%)	3mo	$330,000	$178	92
698 Garrow Dr	0.06mi	3/2.5	1,854 (-2%)	1mo	$330,000	$178	92
656 Garrow Dr	0.04mi	3/2.5	1,854 (-2%)	4mo	$325,000	$175	91
650 Garrow Dr	0.04mi	3/2.5	1,854 (-2%)	5mo	$321,000	$173	91
644 Garrow Dr	0.04mi	3/2.5	1,854 (-2%)	5mo	$312,500	$169	90
646 Axford Bay Dr	0.11mi	3/2.5	1,854 (-2%)	2mo	$325,000	$175	90
18673 Moray St	0.11mi	3/2.5	1,854 (-2%)	5mo	$325,000	$175	87
18737 Explanade St	0.07mi	3/2.5	2,112 (+11%)	2mo	$350,000	$166	76
18697 Explanade St	0.10mi	3/2.5	2,112 (+11%)	2mo	$347,500	$165	75
18714 Seaforth Way	0.26mi	3/2.0	1,644 (-13%)	2mo	$315,000	$192	62

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: -46.4%
• Equity multiple: -0.43×
• Total profit: $-117,958
• Equity at exit: $43,985

10-year hold

• IRR: -67.6%
• Equity multiple: -1.21×
• Total profit: $-182,144
• Equity at exit: $25,506

Cash invested: $82,600 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 14 active · 10 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $346,495 ($175/sqft)
• Median days on market: 95 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -1.0% 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: 1050
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,413 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$1,142 /mo · $13,703/yr
• Insurance: −$123
• HOA: −$255
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $-1,161

Break-even live

Break-even rent $3,882

Max offer price $238,940

Occupancy floor —

Sensitivity live

Price	-10% $-184	-5% $-1,077	+0% $-1,161	+5% $-1,244	+10% $-1,328
Rent	-10% $-1,351	-5% $-1,256	+0% $-1,161	+5% $-1,065	+10% $-970
Rate	-1.0pp $-1,012	-0.5pp $-1,086	base $-1,161	+0.5pp $-1,237	+1.0pp $-1,315

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: $73,750
• Closing costs: $8,850
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18661 Moray St Sheridan, IN	3.0	2.5	1896	$2,350	$1.24	36d	1	0.12mi
18783 Mithoff Ln Westfield, IN	4.0	2.5	1803	$2,250	$1.25	28d	1	0.28mi
717 Crispin Ln Westfield, IN	3.0	2.0	1613	$2,400	$1.49	93d	1	0.77mi
1192 Hamilton Way Westfield, IN	2.0	2.0	1226	$2,124	$1.73	9d	7	0.83mi
17995 Cunning Ct Westfield, IN	3.0	2.5	1749	$2,450	$1.40	9d	2	0.88mi
418 Elite St Westfield, IN	4.0	3.5	2310	$3,100	$1.34	36d	1	0.94mi
1418 Moose Ridge Ln Westfield, IN	3.0	2.5	2424	$2,561	$1.06	42d	1	1.03mi
19319 Winter Wheat Ln Westfield, IN	3.0	2.5	1858	$2,395	$1.29	73d	1	1.34mi
1034 Hendon Ct Westfield, IN	3.0	2.0	1618	$2,075	$1.28	93d	1	1.43mi
17361 Graley Pl Westfield, IN	3.0	2.5	1512	$2,500	$1.65	56d	1	1.48mi
18237 Tempo Blvd Westfield, IN	1.0–3.0	1.0–2.0	1034	$2,439	$2.36	42d	78	1.48mi
18237 Tempo Blvd Westfield, IN	1.0–3.0	1.0–2.0	1034	$2,489	$2.41	9d	26	1.48mi

Listing history 50 events

1. 2026-08-08
   days on market $295,000 Active 159 DOM
2. 2026-08-07
   days on market $295,000 Active 158 DOM
3. 2026-08-06
   days on market $295,000 Active 157 DOM
4. 2026-08-05
   days on market $295,000 Active 156 DOM
5. 2026-08-04
   days on market $295,000 Active 155 DOM
6. 2026-08-03
   days on market $295,000 Active 154 DOM
7. 2026-07-31
   days on market $295,000 Active 151 DOM
8. 2026-07-30
   days on market $295,000 Active 150 DOM
9. 2026-07-30
   days on market $295,000 Active 149 DOM
10. 2026-07-28
    days on market $295,000 Active 148 DOM
11. 2026-07-26
    days on market $295,000 Active 146 DOM
12. 2026-07-24
    days on market $295,000 Active 144 DOM
13. 2026-07-23
    days on market $295,000 Active 143 DOM
14. 2026-07-22
    days on market $295,000 Active 142 DOM
15. 2026-07-21
    days on market $295,000 Active 141 DOM
16. 2026-07-20
    days on market $295,000 Active 140 DOM
17. 2026-07-18
    days on market $295,000 Active 138 DOM
18. 2026-07-18
    days on market $295,000 Active 137 DOM
19. 2026-07-16
    days on market $295,000 Active 136 DOM
20. 2026-07-15
    days on market $295,000 Active 135 DOM
21. 2026-07-14
    days on market $295,000 Active 134 DOM
22. 2026-07-13
    days on market $295,000 Active 133 DOM
23. 2026-07-13
    days on market $295,000 Active 132 DOM
24. 2026-07-11
    days on market $295,000 Active 131 DOM
25. 2026-07-10
    days on market $295,000 Active 130 DOM
26. 2026-07-09
    days on market $295,000 Active 129 DOM
27. 2026-07-07
    days on market $295,000 Active 127 DOM
28. 2026-07-06
    days on market $295,000 Active 126 DOM
29. 2026-07-05
    days on market $295,000 Active 125 DOM
30. 2026-07-03
    days on market $295,000 Active 123 DOM
31. 2026-07-02
    days on market $295,000 Active 122 DOM
32. 2026-07-01
    days on market $295,000 Active 121 DOM
33. 2026-06-30
    price $295,000 Active 120 DOM
34. 2026-06-30
    days on market $300,000 Active 120 DOM
35. 2026-06-29
    days on market $300,000 Active 119 DOM
36. 2026-06-28
    days on market $300,000 Active 118 DOM
37. 2026-06-27
    days on market $300,000 Active 117 DOM
38. 2026-06-26
    days on market $300,000 Active 116 DOM
39. 2026-06-25
    days on market $300,000 Active 114 DOM
40. 2026-06-22
    days on market $300,000 Active 112 DOM
41. 2026-06-21
    days on market $300,000 Active 111 DOM
42. 2026-06-18
    days on market $300,000 Active 108 DOM
43. 2026-06-17
    days on market $300,000 Active 107 DOM
44. 2026-06-16
    days on market $300,000 Active 106 DOM
45. 2026-06-15
    days on market $300,000 Active 105 DOM
46. 2026-06-13
    days on market $300,000 Active 103 DOM
47. 2026-06-13
    days on market $300,000 Active 102 DOM
48. 2026-06-09
    days on market $300,000 Active 99 DOM
49. 2026-06-08
    days on market $300,000 Active 98 DOM
50. 2026-06-07
    days on market $300,000 Active 97 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: $13,703 · $1,142/mo
• Projected year-2 tax: $13,703 · $1,142/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 · 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: $28,956
• − Mortgage interest: −$16,525
• − Property taxes: −$13,703
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,316
• − Management: −$2,316
• − HOA: −$3,060
• − Depreciation: −$8,582
• Taxable loss: −$19,022
• Est. tax savings @ 24.0%: +$4,565
• After-tax cash flow: $-9,362/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

Excellent 95/100 None rehab

This 2022-built end-unit townhouse in Westfield's Lancaster subdivision is move-in ready with modern finishes and a low-maintenance lifestyle.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace light fixtures — Modern light fixtures improve the home's curb appeal and interior ambiance ↑
• Both Install smart home devices — Smart home devices can increase the home's value and appeal to tech-savvy buyers ↑

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

---

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%

---

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%

---

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

---

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

-2.6% since first listed

6 events — show timeline

• 2026-04-30 Price Changed $300,000 MIBOR as Distributed by MLS Grid
• 2026-04-09 Price Changed $305,000 MIBOR as Distributed by MLS Grid
• 2026-03-02 Listed $315,000 MIBOR as Distributed by MLS Grid
• 2022-12-23 Pending — MIBOR as Distributed by MLS Grid
• 2022-12-23 Sold (MLS) $340,840 MIBOR as Distributed by MLS Grid
• 2022-05-23 Listed $307,990 MIBOR as Distributed by MLS Grid

Property tax history

+599.7%/yr

Latest (2025): $13,703 · +320.5% YoY. Source: county tax records.