3642 Limelight Ln · Whitestown, IN 46075

$330,000

4 bd · 2.5 ba · 2,168 sqft · SingleFamily public records · 13 Days on market

Built 2003 6,970 sqft lot Est $345k · at est. $36/mo HOA · 1% 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 +13.1/30.0
• ARV discount +9.4/15.0
• DSCR +3.9/10.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• 1% rule +3.1/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Immaculate condition! 3 BR 2.5 BA GR, DR, KT/BK, loft, 2 car garage. Backyard backs up to common area for spacious backyard feel. MBR suite, walk-in closets. Loft/FR, Kitchen w/breakfast area. Community trails, clubhouse & pool. Move-in ready! New furnace & A/C 2011. New water heater 2013. 5 minutes to I-65 access. 5 minutes to Village of Zionsville. Pristine clean & quick possession.

Key facts

• Covered front porch
• New vanity
• Renovated shower

Tags

• UPDATED PAINTED CABINETRY
• RENOVATED SHOWER
• NEW VANITY
• UPSTAIRS LAUNDRY
• TWO-CAR ATTACHED GARAGE
• COVERED FRONT PORCH

Property features AI

Finance

• Other: Property is residential single family with mandatory association fee; Lot approximately 0.16 acre (less than 1/4 acre)
• HOA & community: Part of an association with amenities including clubhouse, pool, playground, park, picnic area, walking trails and grounds maintenance; HOA fee collected semi-annually; HOA imposes covenants & restrictions and a transfer fee

Exterior

• Parking: Attached 2-car garage with garage door opener and keyless entry
• Security: Smoke alarm
• Utilities: Public water; Municipal sewer connected; 200+ amp electric service; Cable available
• Home design: Single family residence; Two levels; Northeast-facing
• Construction: Built with vinyl siding; Slab foundation
• Exterior features: Covered patio/porch; Lot in a subdivision setting with sidewalks, street lights and small trees

Interior

• Kitchen: Electric oven; Range hood; Dishwasher; Refrigerator; Disposal
• Bedrooms: 4 bedrooms on the upper level; Primary bedroom with walk-in closet
• Flooring: Luxury vinyl plank throughout main and upper rooms
• Bathrooms: 2 full bathrooms; 1 half bathroom; Primary bathroom suite with tub and shower
• Heating & cooling: Heat pump for heating and cooling; Electric heating components
• Interior features: Attic access; Walk-in closets; Painted woodwork; Smoke alarm
• Laundry & utility: Upper level laundry; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-10 ($-121/yr) — negative.
• To cash-flow at today's rent, offer at most $328k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (19.2% below list).
• Recommended offer: $266k (19.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.2% in Whitestown — 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 73/100 on livability (#109 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living 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.
• Zoned schools: Perry Worth Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 430 students, 30% FRL); Lebanon Middle School (math 35% / reading 40%, grade F, #146 of 330 statewide, top 46%, 807 students, 46% FRL); Lebanon Senior High School (math 43% / reading 68%, grade C, #75 of 369 statewide, top 20%, 1,027 students, 38% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: Rents flat; 270 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 $2k of loan paydown is wiped out by about $10k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 21y 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.
• Current owner paid $133k; list at $330k implies a 148% gain — meaningful room to come down on a strong offer.

Recommended offer $266,484 (19.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $344,712
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3642 Limelight Ln	0.00mi	4/2.5	2,168 (0%)	0mo	$330,000	$152	100
3758 Gray Heather Ln	0.32mi	3/2.5 (-1)	2,116 (-2%)	1mo	$325,000	$154	75
3720 Indigo Blue Blvd	0.18mi	4/2.5	1,891 (-13%)	0mo	$325,500	$172	70
3829 Sterling Dr	0.45mi	4/2.5	2,277 (+5%)	1mo	$357,000	$157	70
3845 Sterling Dr	0.45mi	4/2.5	2,277 (+5%)	1mo	$362,000	$159	70
4018 Poplar Dr	0.51mi	3/2.5 (-1)	2,130 (-2%)	0mo	$347,000	$163	68
4141 Homestead Dr	0.54mi	3/2.5 (-1)	2,113 (-2%)	0mo	$378,500	$179	65
3789 Indigo Blue Blvd	0.25mi	3/2.0 (-1)	1,900 (-12%)	0mo	$291,538	$153	61
6856 Seabiscuit Rd	0.62mi	4/2.5	2,390 (+10%)	1mo	$395,000	$165	53
3359 Churchill Ln	0.51mi	3/2.5 (-1)	2,410 (+11%)	1mo	$405,000	$168	52
5783 Blue Sky Dr	0.66mi	4/2.5	2,456 (+13%)	0mo	$369,900	$151	47
3629 Duncan Ct	0.69mi	5/3.0 (+1)	2,460 (+14%)	1mo	$360,000	$146	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 · 0.77% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.35×
• Total profit: $-60,029
• Equity at exit: $49,204

10-year hold

• IRR: -16.3%
• Equity multiple: 0.17×
• Total profit: $-76,302
• Equity at exit: $28,532

Cash invested: $92,400 (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: 270
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,665 high
• Mortgage (P&I): −$1,731
• Tax from tax record: −$211 /mo · $2,535/yr
• Insurance: −$138
• HOA: −$36
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $-10

Break-even live

Break-even rent $2,678

Max offer price $328,215

Occupancy floor 95%

Sensitivity live

Price	-10% $177	-5% $83	+0% $-10	+5% $-104	+10% $-197
Rent	-10% $-221	-5% $-115	+0% $-10	+5% $95	+10% $200
Rate	-1.0pp $156	-0.5pp $74	base $-10	+0.5pp $-96	+1.0pp $-183

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3766 White Cliff Way Unit 1464961P Whitestown, IN	5.0	2.0	2798	$5,704	$2.04	4d	1	0.13mi
3807 Tartan Trl Whitestown, IN	3.0	3.0	2130	$2,381	$1.12	45d	1	0.13mi
3786 White Cliff Way Whitestown, IN	3.0	2.0	1944	$1,971	$1.01	45d	1	0.14mi
6259 Dusty Laurel Dr Whitestown, IN	3.0	2.5	2736	$2,320	$0.85	45d	1	0.15mi
3822 Limelight Ln Whitestown, IN	3.0	2.5	2760	$2,149	$0.78	45d	1	0.16mi
3550 Limelight Ln Whitestown, IN	3.0	2.0	1429	$2,140	$1.50	9d	1	0.17mi
6460 Dusty Laurel Dr Whitestown, IN	3.0	2.0	1511	$2,195	$1.45	0d	1	0.22mi
3821 Lilac Ln Whitestown, IN	1.0–4.0	1.0–2.0	1165	$1,709	$1.47	0d	10	0.24mi
3823 Indigo Blue Blvd Whitestown, IN	3.0	2.5	1992	$1,941	$0.97	14d	1	0.30mi
3825 Gray Heather Ln Whitestown, IN	3.0	2.5	1992	$1,976	$0.99	9d	1	0.35mi
6258 Colonial Dr Whitestown, IN	3.0	2.5	1900	$2,150	$1.13	45d	1	0.48mi
5773 Weeping Willow Pl Whitestown, IN	4.0	2.5	2514	$2,201	$0.88	9d	1	0.51mi
3340 Preakness St Whitestown, IN	4.0	2.5	2426	$2,699	$1.11	4d	1	0.52mi
5782 Open Fields Dr Whitestown, IN	3.0	2.5	2672	$2,426	$0.91	25d	1	0.68mi
3567 Sugar Grove Dr Unit 1542524P Whitestown, IN	3.0	2.0	1829	$3,369	$1.84	0d	1	0.74mi
6251 Rhinecliff Dr Whitestown, IN	5.0	2.5	2376	$2,399	$1.01	45d	1	0.84mi
6389 Wasco Dr Whitestown, IN	3.0	2.5	1802	$2,150	$1.19	6d	1	0.92mi
6296 Granby Dr Whitestown, IN	3.0	2.5	1550	$2,200	$1.42	0d	1	1.01mi
2881 Cross Branch Dr Whitestown, IN	3.0–4.0	2.5	1835	$2,399	$1.31	21d	4	1.03mi
2606 Plano Dr Unit NA Whitestown, IN	4.0	3.0	2119	$2,600	$1.23	0d	1	1.09mi
2557 Lamar Dr Whitestown, IN	4.0	2.5	1981	$2,199	$1.11	45d	1	1.14mi
6924 Park Grove Blvd Whitestown, IN	4.0	3.0	2539	$2,476	$0.98	0d	1	1.34mi
6831 Orchard Run Cir Whitestown, IN	4.0	2.5	2131	$2,350	$1.10	0d	1	1.42mi
7073 Fowler Dr Whitestown, IN	4.0	3.5	2491	$2,550	$1.02	0d	1	1.45mi

HOA detail

• Monthly dues: $36 · $432/yr
• Likely covers: waterpool

Listing history 14 events

1. 2026-04-29
   status Pending
2. 2026-03-16
   listed $330,000 Active
3. 2014-11-05
   soldstatus $132,900
4. 2014-10-31
   historical 409-char remark

   Show marketing remark (409 chars)

   Immaculate condition! 3 BR 2.5 BA GR, DR, KT/BK, loft, 2 car garage. Backyard backs up to common area for spacious backyard feel. MBR suite, walk-in closets. Loft/FR, Kitchen w/breakfast area. Community trails, clubhouse & pool. Move-in ready! New furnace & A/C 2011. New water heater 2013. 5 minutes to I-65 access. 5 minutes to Village of Zionsville. Pristine clean & quick possession.

5. 2014-10-30
   soldstatus $132,900 409-char remark

   Show marketing remark (410 chars)

   Immaculate condition! 3 BR 2.5 BA GR, DR, KT/BK, loft, 2 car garage. Backyard backs up to common area for spacious backyard feel. MBR suite, walk-in closets. Loft/FR, Kitchen w/ breakfast area. Community trails, clubhouse & pool. Move-in ready! New furnace & A/C 2011. New water heater 2013. 5 minutes to I-65 access. 5 minutes to Village of Zionsville. Pristine clean & quick possession.

6. 2014-10-30
   soldstatus $132,900 410-char remark

   Show marketing remark (410 chars)

   Immaculate condition! 3 BR 2.5 BA GR, DR, KT/BK, loft, 2 car garage. Backyard backs up to common area for spacious backyard feel. MBR suite, walk-in closets. Loft/FR, Kitchen w/ breakfast area. Community trails, clubhouse & pool. Move-in ready! New furnace & A/C 2011. New water heater 2013. 5 minutes to I-65 access. 5 minutes to Village of Zionsville. Pristine clean & quick possession.

7. 2014-04-01
   listed $139,642 409-char remark

   Show marketing remark (410 chars)

   Immaculate condition! 3 BR 2.5 BA GR, DR, KT/BK, loft, 2 car garage. Backyard backs up to common area for spacious backyard feel. MBR suite, walk-in closets. Loft/FR, Kitchen w/ breakfast area. Community trails, clubhouse & pool. Move-in ready! New furnace & A/C 2011. New water heater 2013. 5 minutes to I-65 access. 5 minutes to Village of Zionsville. Pristine clean & quick possession.

8. 2014-04-01
   listed $139,642 410-char remark

   Show marketing remark (410 chars)

   Immaculate condition! 3 BR 2.5 BA GR, DR, KT/BK, loft, 2 car garage. Backyard backs up to common area for spacious backyard feel. MBR suite, walk-in closets. Loft/FR, Kitchen w/ breakfast area. Community trails, clubhouse & pool. Move-in ready! New furnace & A/C 2011. New water heater 2013. 5 minutes to I-65 access. 5 minutes to Village of Zionsville. Pristine clean & quick possession.

9. 2013-11-02
   historical
10. 2013-05-03
    listed $145,500
11. 2005-11-04
    soldstatus $129,000
12. 2005-10-05
    historical
13. 2005-09-20
    listed $136,900
14. 2005-06-07
    listed $134,900

ⓘ 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: $2,535 · $211/mo
• Projected year-2 tax: $2,670 · $223/mo
• Expected delta: +$135/yr (+$11/mo · 5.3%)

ⓘ 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 0% 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: $31,978
• − Mortgage interest: −$18,485
• − Property taxes: −$2,535
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,558
• − Management: −$2,558
• − HOA: −$432
• − Depreciation: −$9,600
• Taxable loss: −$5,841
• Est. tax savings @ 24.0%: +$1,402
• After-tax cash flow: $1,281/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: 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

+144.6% since first listed

14 events — show timeline

• 2026-04-29 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-16 Listed $330,000 MIBOR as Distributed by MLS Grid
• 2014-11-05 Sold (Public Records) $132,900 Public Records
• 2014-10-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-10-30 Sold (MLS) $132,900 IRMLS
• 2014-10-30 Sold (MLS) $132,900 MIBOR as Distributed by MLS Grid
• 2014-04-01 Listed $139,642 IRMLS
• 2014-04-01 Listed $139,642 MIBOR as Distributed by MLS Grid
• 2013-11-02 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-05-03 Listed $145,500 MIBOR as Distributed by MLS Grid
• 2005-11-04 Sold (MLS) $129,000 MIBOR as Distributed by MLS Grid
• 2005-10-05 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-09-20 Listed $136,900 MIBOR as Distributed by MLS Grid
• 2005-06-07 Listed $134,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2025): $2,535 · -6.2% YoY. Source: county tax records.