Palmetto Plan · Whitestown, IN 46075

$346,995

4 bd · 2.5 ba · 2,580 sqft · SingleFamily · 132 Days on market

Good condition

---

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 +7.5/15.0
• Cash flow +6.4/30.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• 1% rule +1.6/10.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Palmetto is one of Arbor Homes' newest and most flexible floorplans - offering everything you could want in a new construction home. With multiple elevation styles, optional basements, and the choice of a full front porch or breezeway, The Palmetto can easily be tailored to your lifestyle. Step inside to a spacious front living area that can serve as a formal dining room or quiet office with optional double doors. As you move through the home, you'll notice the open and inviting layout designed for both comfort and functionality. The chef-inspired kitchen features an L-shaped layout with a large island, walk-in pantry, and abundant cabinetry for storage. Enjoy meals in the café or add an optional sunroom to enjoy natural light year-round. The great room offers plenty of space for gatherings, while the rear study provides a quiet workspace that can be converted into a guest suite with a full bath. Upstairs, four bedrooms, a second-floor laundry, and a spacious loft provide flexibility for family living. Choose the optional fifth bedroom in place of the loft for added space. The luxurious primary suite includes a walk-in closet and optional bath upgrades such as a tile shower or deluxe garden tub. Visit an Arbor Homes community today to learn how you can make The Palmetto your own.

Key facts

• Full front porch
• Large island
• Abundant cabinetry

Tags

• FULL FRONT PORCH
• CHEF INSPIRED KITCHEN
• LARGE ISLAND
• WALK IN PANTRY
• ABUNDANT CABINETRY
• OPTIONAL SUNROOM

🏗️ New construction. The $346,995 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $404,054.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $347k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-696 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $303k (12.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (23.5% below list).
• Recommended offer: $265k (23.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#109 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A; Watch: amenities F, commute F, health & safety F.
• Lebanon Community School Corporation (town): math 41% / reading 44% proficiency, ranked #115 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 268 active listings in the ZIP; 22 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; 898 units permitted in Boone 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.
• Boone County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($305k) is reasonable based on typical stale-listing flexibility.

Recommended offer $265,382 (23.5% 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. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 24% 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: 0.66% ✗
• Cap rate: 4.23%
• Cash-on-cash: -7.38%
• DSCR: 0.67
• GRM: 12.7

CMA / ARV

• ARV (median comp): $404,054
• List price: $346,995
• Delta: -14.12%
• 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
6918 Seattle Slew Dr	0.22mi	4/2.5	2,658 (+3%)	2mo	$410,000	$154	83
6856 Seabiscuit Rd	0.18mi	4/2.5	2,390 (-7%)	1mo	$395,000	$165	78
6559 Seabiscuit Rd	0.41mi	4/2.5	2,618 (+2%)	1mo	$415,000	$159	78
6548 Seattle Slew Dr	0.50mi	4/2.5	2,602 (+1%)	0mo	$445,000	$171	75
3333 Churchill Ln	0.41mi	4/2.5	2,658 (+3%)	2mo	$435,000	$164	74
6524 Seabiscuit Rd	0.46mi	4/2.5	2,646 (+3%)	2mo	$440,000	$166	73
6672 Seabiscuit Rd	0.32mi	3/2.5 (-1)	2,658 (+3%)	3mo	$399,500	$150	73
3359 Churchill Ln	0.39mi	3/2.5 (-1)	2,410 (-7%)	1mo	$405,000	$168	65
6620 Seattle Slew Dr	0.45mi	4/2.5	2,390 (-7%)	3mo	$407,000	$170	64
6724 Red Barn Dr	0.67mi	4/2.5	2,630 (+2%)	1mo	$414,900	$158	64
6664 Seattle Slew Dr	0.43mi	3/2.5 (-1)	2,426 (-6%)	2mo	$420,000	$173	63
6911 Emerald Ln	0.68mi	5/3.0 (+1)	2,718 (+5%)	1mo	$424,990	$156	51

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 · 0.77% rent growth · sell at horizon

5-year hold

• IRR: -31.6%
• Equity multiple: -0.02×
• Total profit: $-115,575
• Equity at exit: $60,246

10-year hold

• IRR: -50.3%
• Equity multiple: -0.59×
• Total profit: $-180,400
• Equity at exit: $34,935

Cash invested: $113,135 (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 46075

• Home prices YoY: -20.0%
• Rents YoY: 0.8%
• Active inventory: 268
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,654 high
• Mortgage (P&I): −$2,119
• Tax est. 1.5%: −$505 /mo · $6,061/yr
• Insurance: −$168
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $-696

Break-even live

Break-even rent $3,535

Max offer price $303,369

Occupancy floor —

Sensitivity live

Price	-10% $-417	-5% $-556	+0% $-696	+5% $-835	+10% $-975
Rent	-10% $-905	-5% $-801	+0% $-696	+5% $-591	+10% $-486
Rate	-1.0pp $-492	-0.5pp $-593	base $-696	+0.5pp $-801	+1.0pp $-907

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: $101,013
• Closing costs: $12,122
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3340 Preakness St Whitestown, IN	4.0	2.5	2426	$2,699	$1.11	3d	1	0.40mi
3766 White Cliff Way Unit 1464961P Whitestown, IN	5.0	2.0	2798	$5,704	$2.04	2d	1	0.55mi
3786 White Cliff Way Whitestown, IN	3.0	2.0	1944	$1,971	$1.01	44d	1	0.55mi
3822 Limelight Ln Whitestown, IN	3.0	2.5	2760	$2,149	$0.78	44d	1	0.59mi
408 S Main St Whitestown, IN	3.0	2.0	3004	$1,799	$0.60	3d	1	0.59mi
3807 Tartan Trl Whitestown, IN	3.0	3.0	2130	$2,381	$1.12	44d	1	0.63mi
6259 Dusty Laurel Dr Whitestown, IN	3.0	2.5	2736	$2,320	$0.85	44d	1	0.70mi
2881 Cross Branch Dr Whitestown, IN	3.0–4.0	2.5	1835	$2,399	$1.31	19d	4	0.76mi
3823 Indigo Blue Blvd Whitestown, IN	3.0	2.5	1992	$1,941	$0.97	13d	1	0.86mi
6258 Colonial Dr Whitestown, IN	3.0	2.5	1900	$2,150	$1.13	44d	1	0.90mi
3825 Gray Heather Ln Whitestown, IN	3.0	2.5	1992	$1,976	$0.99	8d	1	0.92mi
5773 Weeping Willow Pl Whitestown, IN	4.0	2.5	2514	$2,201	$0.88	8d	1	1.02mi
2838 Maricopa Blvd Whitestown, IN	3.0	2.5	3156	$2,400	$0.76	44d	1	1.04mi
6251 Rhinecliff Dr Whitestown, IN	5.0	2.5	2376	$2,399	$1.01	44d	1	1.07mi
6389 Wasco Dr Whitestown, IN	3.0	2.5	1802	$2,150	$1.19	4d	1	1.07mi
5782 Open Fields Dr Whitestown, IN	3.0	2.5	2672	$2,426	$0.91	24d	1	1.09mi
2606 Plano Dr Unit NA Whitestown, IN	4.0	3.0	2119	$2,600	$1.23	2d	1	1.16mi
7073 Fowler Dr Whitestown, IN	4.0	3.5	2491	$2,550	$1.02	2d	1	1.18mi
2557 Lamar Dr Whitestown, IN	4.0	2.5	1981	$2,199	$1.11	44d	1	1.23mi
6924 Park Grove Blvd Whitestown, IN	4.0	3.0	2539	$2,516	$0.99	2d	1	1.27mi
6831 Orchard Run Cir Whitestown, IN	4.0	2.5	2131	$2,350	$1.10	2d	1	1.28mi
3567 Sugar Grove Dr Unit 1542524P Whitestown, IN	3.0	2.0	1829	$3,581	$1.96	3d	1	1.36mi

Listing history 13 events

1. 2026-06-18
   days on market $346,995 Active 132 DOM
2. 2026-06-17
   days on market $346,995 Active 131 DOM
3. 2026-06-16
   days on market $346,995 Active 130 DOM
4. 2026-06-15
   days on market $346,995 Active 129 DOM
5. 2026-06-13
   days on market $346,995 Active 127 DOM
6. 2026-06-09
   days on market $346,995 Active 123 DOM
7. 2026-06-08
   days on market $346,995 Active 122 DOM
8. 2026-06-07
   days on market $346,995 Active 121 DOM
9. 2026-06-03
   days on market $346,995 Active 117 DOM
10. 2026-06-02
    days on market $346,995 Active 116 DOM
11. 2026-06-01
    days on market $346,995 Active 115 DOM
12. 2026-05-31
    days on market $346,995 Active 114 DOM
13. 2026-02-07
    listed $346,995 Active 1311-char remark

    Show marketing remark (1311 chars)

    The Palmetto is one of Arbor Homes' newest and most flexible floorplans - offering everything you could want in a new construction home. With multiple elevation styles, optional basements, and the choice of a full front porch or breezeway, The Palmetto can easily be tailored to your lifestyle. Step inside to a spacious front living area that can serve as a formal dining room or quiet office with optional double doors. As you move through the home, you'll notice the open and inviting layout designed for both comfort and functionality. The chef-inspired kitchen features an L-shaped layout with a large island, walk-in pantry, and abundant cabinetry for storage. Enjoy meals in the café or add an optional sunroom to enjoy natural light year-round. The great room offers plenty of space for gatherings, while the rear study provides a quiet workspace that can be converted into a guest suite with a full bath. Upstairs, four bedrooms, a second-floor laundry, and a spacious loft provide flexibility for family living. Choose the optional fifth bedroom in place of the loft for added space. The luxurious primary suite includes a walk-in closet and optional bath upgrades such as a tile shower or deluxe garden tub. Visit an Arbor Homes community today to learn how you can make The Palmetto your own.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,846
• − Mortgage interest: −$22,633
• − Property taxes: −$6,061
• − Insurance: −$2,020
• − Repairs & maintenance: −$2,548
• − Management: −$2,548
• − Depreciation: −$11,754
• Taxable loss: −$15,718
• Est. tax savings @ 24.0%: +$3,772
• After-tax cash flow: $-4,577/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 None rehab

This move-in-ready home features a modern kitchen, well-maintained bathrooms, and a clean interior. Exterior and landscaping are also in good condition, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Paint exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Resale Replace flooring in bathrooms — Modern flooring in bathrooms improves resale value.
• Both Install smart home technology — Smart home features increase convenience and appeal to potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Resale Replace flooring in bathrooms — Modern flooring in bathrooms improves resale value. ↑
• Both Install smart home technology — Smart home features increase convenience and appeal to potential buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lebanon Community School Corporation
• NCES district ID: 1805790
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $52,178
• Composite: 36.77/100
• National rank: #4571
• State rank: #115 of 301 in IN

Livability — Whitestown

• Score: 73/100
• State rank: #109
• US rank: #5691

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: Whitestown, IN
• County: Boone County · 69,822 people
• City population: 9,509
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 9,509
• Household income: $117,002
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 287.0

Population outlook (Boone County) Hauer SSP2

• Today (2025): 77,877 people
• By 2030: 85,185 · +9.4%
• By 2040: 99,753 · +28.1%
• By 2050: 113,572 · +45.8%
• By 2075: 145,674 · +87.1%
• By 2100: 161,165 · +106.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Asian 4% Hispanic / Latino 3% Black 3%
• Common ancestry: Italian 4% Romanian 3% Slovak 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Other Indo-European 5% Spanish 2% Chinese 1%

Political lean MEDSL · Boone

• 2024 margin: R (+16.0) · D 41.0% · R 57.0% · Other 2.0%
• 2008→2024 swing: +9.8pp toward D · 2008: -25.8pp · 2024: -16.0pp
• All cycles: 2024: R+16.0 2020: R+18.4 2016: R+29.5 2012: R+37.8 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.51%
• Current HPI: 198.3353
• Rent YoY: ▲ 0.77%
• 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

• 2026-02-07 Listed $346,995 Zillow