Quentin-Reverse Plan · Westfield, IN 46074

$252,000

2 bd · 2.0 ba · 1,521 sqft · Townhouse · 192 Days on market

Fair condition ↓ 5% 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 +7.5/15.0
• Cash flow +6.4/30.0
• Schools +6.2/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.2/5.0
• 1% rule +1.6/10.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home plan features a convenient den/office/hobby space in addition to the two bedrooms *

Key facts

• Parking
• Listed 191 days

Tags

• DEN OFFICE HOBBY SPACE

🏗️ New construction. The $252,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $352,500.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $252k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-607 ($-7k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (8.1% below list).
• Recommended offer: $222k (12.0% below list) — sets the bar for market timing.
• Cap rate 4.2% vs local median 3.2% in Westfield — 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 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: Shamrock Springs Elementary School (math 63% / reading 56%, grade B-, #128 of 994 statewide, top 15%, 615 students, 10% 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) — zoned schools at 16% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 1050 active listings in the ZIP; 4 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; 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 $11k 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 192 days — a 12% lower offer ($222k) is reasonable based on typical stale-listing flexibility.

Recommended offer $221,760 (12.0% 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 192 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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?
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: 0.66% ✗
• Cap rate: 4.23%
• Cash-on-cash: -7.37%
• DSCR: 0.67
• GRM: 12.7

CMA / ARV

• ARV (median comp): $352,500
• List price: $252,000
• Delta: -28.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14913 Stonneger St	0.26mi	2/2.0	1,748 (+15%)	7mo	$355,000	$203	57
1661 Dewey Dr	0.33mi	2/2.0	1,747 (+15%)	8mo	$340,000	$195	53
711 Bucksport Ln	1.11mi	2/2.5	1,444 (-5%)	5mo	$265,000	$184	51
1699 Carmack Ct	0.20mi	2/2.0	1,750 (+15%)	23mo	$354,900	$203	47
15425 Bowie Dr	0.76mi	3/1.5 (+1)	1,444 (-5%)	4mo	$270,000	$187	46
15421 Bowie Dr	0.75mi	2/2.5	1,444 (-5%)	13mo	$254,900	$177	44
15422 Bowie Dr	0.75mi	2/1.5	1,444 (-5%)	18mo	$262,500	$182	40

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: -27.8%
• Equity multiple: 0.06×
• Total profit: $-92,746
• Equity at exit: $52,559

10-year hold

• IRR: -22.2%
• Equity multiple: -0.19×
• Total profit: $-117,850
• Equity at exit: $30,478

Cash invested: $98,700 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 26 active · 2 under contract
• Months of supply: 52.0 mo (2%/mo absorbed)
• Median asking: $236,500 ($164/sqft)
• Median days on market: 192 d
• This list price: 54% of active listings are priced below it
• ARV vs active asking: +41.7% above 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: 9.1×

Monthly cashflow live

• Estimated rent: $2,316 medium
• Mortgage (P&I): −$1,849
• Tax est. 1.5%: −$441 /mo · $5,288/yr
• Insurance: −$147
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $-607

Break-even live

Break-even rent $3,084

Max offer price $264,728

Occupancy floor —

Sensitivity live

Price	-10% $-363	-5% $-485	+0% $-607	+5% $-728	+10% $-850
Rent	-10% $-790	-5% $-698	+0% $-607	+5% $-515	+10% $-424
Rate	-1.0pp $-429	-0.5pp $-517	base $-607	+0.5pp $-698	+1.0pp $-791

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: $88,125
• Closing costs: $10,575
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 S Waterleaf Dr Westfield, IN	2.0	2.0	635	$1,924	$3.03	9d	20	0.08mi
1659 Dewey Dr Westfield, IN	2.0	2.0	1748	$2,500	$1.43	9d	1	0.35mi
14518 Brecon Ln Carmel, IN	3.0	2.5	1980	$2,695	$1.36	93d	1	0.49mi
14637 Handel Dr Carmel, IN	1.0–3.0	1.0–2.0	1128	$1,606	$1.42	9d	45	1.24mi

Listing history 50 events

1. 2026-08-08
   days on market $252,000 Active 192 DOM
2. 2026-08-07
   days on market $252,000 Active 191 DOM
3. 2026-08-06
   days on market $252,000 Active 190 DOM
4. 2026-08-05
   days on market $252,000 Active 189 DOM
5. 2026-08-04
   days on market $252,000 Active 188 DOM
6. 2026-08-03
   days on market $252,000 Active 187 DOM
7. 2026-07-31
   days on market $252,000 Active 184 DOM
8. 2026-07-30
   days on market $252,000 Active 183 DOM
9. 2026-07-30
   days on market $252,000 Active 182 DOM
10. 2026-07-28
    days on market $252,000 Active 181 DOM
11. 2026-07-26
    days on market $252,000 Active 179 DOM
12. 2026-07-24
    days on market $252,000 Active 177 DOM
13. 2026-07-23
    days on market $252,000 Active 176 DOM
14. 2026-07-22
    days on market $252,000 Active 175 DOM
15. 2026-07-21
    days on market $252,000 Active 174 DOM
16. 2026-07-20
    days on market $252,000 Active 173 DOM
17. 2026-07-18
    days on market $252,000 Active 171 DOM
18. 2026-07-18
    days on market $252,000 Active 170 DOM
19. 2026-07-16
    days on market $252,000 Active 169 DOM
20. 2026-07-15
    days on market $252,000 Active 168 DOM
21. 2026-07-14
    days on market $252,000 Active 167 DOM
22. 2026-07-13
    days on market $252,000 Active 166 DOM
23. 2026-07-13
    days on market $252,000 Active 165 DOM
24. 2026-07-11
    days on market $252,000 Active 164 DOM
25. 2026-07-10
    days on market $252,000 Active 163 DOM
26. 2026-07-09
    days on market $252,000 Active 162 DOM
27. 2026-07-07
    days on market $252,000 Active 160 DOM
28. 2026-07-06
    days on market $252,000 Active 159 DOM
29. 2026-07-05
    days on market $252,000 Active 158 DOM
30. 2026-07-03
    days on market $252,000 Active 156 DOM
31. 2026-07-02
    days on market $252,000 Active 155 DOM
32. 2026-07-01
    days on market $252,000 Active 154 DOM
33. 2026-06-30
    days on market $252,000 Active 153 DOM
34. 2026-06-29
    days on market $252,000 Active 152 DOM
35. 2026-06-28
    days on market $252,000 Active 151 DOM
36. 2026-06-27
    days on market $252,000 Active 150 DOM
37. 2026-06-26
    days on market $252,000 Active 149 DOM
38. 2026-06-25
    days on market $252,000 Active 147 DOM
39. 2026-06-22
    days on market $252,000 Active 145 DOM
40. 2026-06-21
    days on market $252,000 Active 144 DOM
41. 2026-06-18
    days on market $252,000 Active 141 DOM
42. 2026-06-17
    days on market $252,000 Active 140 DOM
43. 2026-06-16
    days on market $252,000 Active 139 DOM
44. 2026-06-15
    days on market $252,000 Active 138 DOM
45. 2026-06-13
    days on market $252,000 Active 136 DOM
46. 2026-06-13
    days on market $252,000 Active 135 DOM
47. 2026-06-09
    days on market $252,000 Active 132 DOM
48. 2026-06-08
    days on market $252,000 Active 131 DOM
49. 2026-06-07
    days on market $252,000 Active 130 DOM
50. 2026-06-05
    days on market $252,000 Active 127 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $27,789
• − Mortgage interest: −$19,745
• − Property taxes: −$5,288
• − Insurance: −$1,762
• − Repairs & maintenance: −$2,223
• − Management: −$2,223
• − Depreciation: −$10,255
• Taxable loss: −$13,707
• Est. tax savings @ 24.0%: +$3,290
• After-tax cash flow: $-3,989/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 · 1 photo

Fair 45/100 Moderate rehab Est. rehab $38,025–$68,445 screening

The home is in fair condition with moderate rehabilitation needs, primarily focusing on painting and minor repairs. Updates to paint, flooring, and appliances would significantly enhance its resale and rental value.

Repairs flagged

• Minor Paint — Paint appears slightly faded

Value-add opportunities

• Both Paint — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Flooring — New flooring can improve the home's appearance and value ↑
• Both Kitchen appliances — Upgraded appliances can attract more buyers/renters ↑
• Both Bathroom fixtures — Modern fixtures can increase the home's appeal and value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 62/100

Zoned Schools

Elementary Shamrock Springs Elementary School B- IN #128/994 Nat'l #7,252/41,679 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

-5.3% since first listed

2 events — show timeline

• 2026-02-03 Price Changed $252,000 Zillow
• 2026-01-28 Listed $266,000 Zillow