968 Greenwood Trl W · Greenwood, IN 46142

$120,000

2 bd · 1.5 ba · 1,088 sqft · Condo public records · 1 Days on market

Built 1974 $247/mo HOA · 18% of rent

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Why this score? — see what drove the C- 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 +18.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• DSCR +5.8/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 968 a beautifully updated, low-maintenance condo offering comfort, style, and convenience. Step inside to find fresh vinyl plank flooring that flows through the main living areas, creating a modern and inviting feel. The kitchen has been thoughtfully upgraded with refreshed cabinetry and new countertops, providing both functionality and a clean, updated look. This home features two spacious bedrooms with newer carpet, offering cozy retreats for rest and relaxation. The updated bathroom adds a touch of contemporary comfort, while the layout provides easy, practical living throughout. Enjoy outdoor living with your own private fenced-in patio, perfect for morning coffee, pets, or e

Key facts

• Private upper deck
• Refreshed cabinetry
• New countertops

Tags

• VINYL PLANK FLOORING
• REFRESHED CABINETRY
• NEW COUNTERTOPS
• PRIVATE FENCED-IN PATIO
• PRIVATE UPPER DECK
• CONVENIENT GREENWOOD LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $116 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 7.5% vs local median 4.5% in Greenwood — 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 (#91 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Greenwood Community School Corporation (suburban): math 41% / reading 52% proficiency, ranked #88 of 301 in IN (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.1%/yr); 60 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,133 units permitted in Johnson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Johnson County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 18y 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 $120,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 7.45%
• Cash-on-cash: 4.15%
• DSCR: 1.18
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.52×
• Total profit: $-15,989
• Equity at exit: $17,892

10-year hold

• IRR: -11.6%
• Equity multiple: 0.42×
• Total profit: $-19,593
• Equity at exit: $10,375

Cash invested: $33,600 (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 →

ZIP-level market 46142

• Rents YoY: -0.1%
• Active inventory: 60
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,381 high
• Mortgage (P&I): −$629
• Tax from tax record: −$48 /mo · $580/yr
• Insurance: −$50
• HOA: −$247
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $116

Break-even live

Break-even rent $1,234

Max offer price $120,000

Occupancy floor 87%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
968 Greenwood Trl W Greenwood, IN	2.0	2.0	1088	$1,475	$1.36	12d	1	0.03mi
14 Greenwood Trl N Greenwood, IN	2.0	1.5	1088	$1,275	$1.17	14d	1	0.13mi
1039 N Paz Dr Greenwood, IN	1.0–2.0	1.0	800	$1,193	$1.49	1d	8	0.16mi
88 Keran Manor Ct Greenwood, IN	2.0	1.0	945	$1,450	$1.53	43d	1	0.30mi
614 Park Madison Dr Greenwood, IN	2.0	2.0	1150	$1,250	$1.09	10d	1	0.52mi
2816 E County Line Rd Indianapolis, IN	2.0	1.0	1265	$910	$0.72	23d	1	0.54mi
3503 Pleasant Lake Dr Indianapolis, IN	3.0	1.0	1064	$1,615	$1.52	12d	1	0.62mi
8631 Pleasant Creek Ct Indianapolis, IN	3.0	2.0	1120	$1,706	$1.52	7d	1	0.69mi
1043 Mikes Way Greenwood, IN	3.0	2.0	1090	$1,650	$1.51	43d	1	0.69mi
8960 S Keystone Ave Indianapolis, IN	1.0–2.0	1.0	881	$1,270	$1.44	1d	7	0.76mi
464 Carol Dr Greenwood, IN	3.0	1.0	888	$1,550	$1.75	43d	1	0.79mi
3546 Valley Lake Dr Indianapolis, IN	3.0	1.0	984	$1,645	$1.67	4d	1	0.80mi
745 Wood Dale Ter Greenwood, IN	1.0–3.0	1.0–1.5	1032	$1,326	$1.28	2d	10	0.80mi
601 Wood Dale Ter Greenwood, IN	2.0	1.5	960	$1,174	$1.22	44d	1	0.80mi
634 Wooddale Ter Unit 1010 Greenwood, IN	1.0	1.0	882	$917	$1.04	43d	1	0.81mi
628 Wooddale Ter Unit 1007 Greenwood, IN	2.0	1.5	1013	$1,104	$1.09	43d	1	0.82mi
622 Wood Dale Ter Greenwood, IN	1.0–2.0	1.0–1.5	947	$1,104	$1.17	23d	3	0.82mi
600 Wooddale Ter Apt 07 Greenwood, IN	2.0	1.0	750	$999	$1.33	23d	1	0.83mi
600 Wood Dale Ter Greenwood, IN	2.0	1.0	750	$999	$1.33	43d	1	0.83mi
4545 Scarlet Oak Way Indianapolis, IN	1.0–3.0	1.0–2.0	1101	$1,690	$1.53	1d	16	1.05mi
3717 Piermont Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1038	$1,414	$1.36	2d	23	1.07mi
171 1/2 W Broadway St Greenwood, IN	1.0	1.0	900	$1,375	$1.53	23d	1	1.08mi
800 Kings Mill Rd Greenwood, IN	2.0	1.0–2.0	701	$1,358	$1.94	1d	52	1.09mi
921 Parliament Pl Greenwood, IN	1.0–3.0	1.0–2.0	994	$1,298	$1.30	2d	30	1.12mi
3741 Lima Ct Indianapolis, IN	2.0	1.0	976	$1,350	$1.38	7d	1	1.16mi
8126 Xenia Dr Indianapolis, IN	3.0	2.0	1176	$4,500	$3.83	1d	1	1.16mi
8213 Zona Dr Indianapolis, IN	1.0–3.0	1.0–1.5	935	$1,102	$1.18	1d	16	1.27mi
8055 Crossing Dr Indianapolis, IN	1.0–2.0	1.0	775	$1,224	$1.58	2d	15	1.30mi
501 E Main St Greenwood, IN	2.0	1.0	968	$1,395	$1.44	43d	1	1.34mi
370 Homestead Ave Greenwood, IN	1.0–3.0	1.0–2.0	1135	$1,905	$1.68	1d	26	1.43mi
7909 Southfield Dr Indianapolis, IN	3.0	2.0	1056	$1,445	$1.37	7d	1	1.48mi

HOA detail condo

• Monthly dues: $247 · $2,964/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-04-17
   status Pending
2. 2026-04-15
   listed $120,000 Active
3. 2016-11-23
   status Active
4. 2016-10-07
   historical
5. 2016-09-08
   status Pending
6. 2016-08-19
   price $44,900
7. 2016-04-09
   listed $49,900 Active
8. 2008-10-07
   historical
9. 2008-02-06
   listed $69,900

ⓘ 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: $580 · $48/mo
• Projected year-2 tax: $800 · $67/mo
• Expected delta: +$220/yr (+$18/mo · 37.9%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,567
• − Mortgage interest: −$6,722
• − Property taxes: −$580
• − Insurance: −$600
• − Repairs & maintenance: −$1,325
• − Management: −$1,325
• − HOA: −$2,964
• − Depreciation: −$3,491
• Taxable loss: −$440
• Est. tax savings @ 24.0%: +$106
• After-tax cash flow: $1,498/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: Greenwood Community School Corporation
• NCES district ID: 1804110
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 52% ▼ -7.00%
• Median HH income: $48,589
• Composite: 39.71/100
• National rank: #3902
• State rank: #88 of 301 in IN

Livability — Greenwood

• Score: 73/100
• State rank: #91
• US rank: #5255

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment B Housing A+ Health & safety F User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenwood, IN
• County: Johnson County · 154,261 people
• City population: 96,151
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 34,348
• Household income: $89,001
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 482.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 170,080 people
• By 2030: 179,983 · +5.8%
• By 2040: 198,580 · +16.8%
• By 2050: 214,661 · +26.2%
• By 2075: 247,990 · +45.8%
• By 2100: 257,821 · +51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Asian 6% Hispanic / Latino 5% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 3% Italian 2% Romanian 2%
• Foreign-born: 6% · Canada, Philippines
• Languages at home: 91% English-only · Spanish 3% Other Asian/Pacific 3% Other Indo-European 1%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+34.3) · D 32.0% · R 66.3% · Other 1.7%
• 2008→2024 swing: -8.9pp toward R · 2008: -25.5pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+34.1 2016: R+42.5 2012: R+38.5 2008: R+25.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -222.62%
• Current HPI: 210.7473
• Rent YoY: ▼ -0.15%
• 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

+71.7% since first listed

9 events — show timeline

• 2026-04-17 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-15 Listed $120,000 MIBOR as Distributed by MLS Grid
• 2016-11-23 Relisted — MIBOR as Distributed by MLS Grid
• 2016-10-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2016-09-08 Pending — MIBOR as Distributed by MLS Grid
• 2016-08-19 Price Changed $44,900 MIBOR as Distributed by MLS Grid
• 2016-04-09 Listed $49,900 MIBOR as Distributed by MLS Grid
• 2008-10-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-02-06 Listed $69,900 MIBOR as Distributed by MLS Grid

Property tax history

-4.6%/yr

Latest (2024): $580 · +5.2% YoY. Source: county tax records.