638 Maple Ct · Brownsburg, IN 46112

$289,000

3 bd · 2.0 ba · 1,658 sqft · SingleFamily public records · 61 Days on market

Built 1960 10,750 sqft lot $174/sqft · 25% above area Est $373k · 22% under ↓ 3% since listing

---

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).

• ARV discount +15.0/15.0
• Cash flow +7.5/30.0
• Schools +6.3/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this nice size, 5 Bedroom, Open Concept home, located on a cul-de-sac and just minutes from all the FUN things that the city of Brownsburg has to offer. This home has a full basement where you will find the Washer and Dryer along with TONS of Storage space and could even be turned into more living space or a workshop area, the possibilities are endless. On the main level of the home is the Open Concept Kitchen, Dining & Living room. The kitchen with its HUGE peninsula that you can pull bar stools up to, adding additionally seating, when having large gatherings, to and stainless steel appliances and Quartz Countertops, will not disappoint. Dining area is to the right of the kitchen and with a sliding door leading out to the NEW deck making cookouts a breeze. There's also the pantry with its barn door that adds so much charm & extra storage to the space. The large living room is great for big parties /family gatherings, with TONS of natural light flowing throughout the entire home. The main level is where you will find 2 of the 5 bedrooms and a full bath. Upper level has the other 3 bedrooms another full bath and a loft area at the top of the stairs, big enough that it could be used as a reading nook, desk area, sitting area etc. the outside space is Wonderful with its covered patio right outside the back door and adjacent to the huge 2 car garage. You won't want to miss out on an opportunity to own this Home Sweet Home!

Key facts

• Open concept kitchen
• Full basement
• Covered patio

Tags

• FULL BASEMENT
• TONS OF STORAGE SPACE
• OPEN CONCEPT KITCHEN
• NEW DECK
• BARN DOOR PANTRY
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $289k.

Deal economics

• At list price, monthly cash flow is $-359 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (22.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (25.5% below list).
• Recommended offer: $215k (25.5% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.8% in Brownsburg — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 75/100 on livability (#61 in IN, #4,105 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Brownsburg Community School Corporation (suburban): math 72% / reading 72% proficiency, ranked #2 of 301 in IN (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Brownsburg High School (math 61% / reading 83%, grade B+, #12 of 369 statewide, top 4%, 3,177 students, 33% FRL) — zoned schools average 33% FRL vs 17% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.3%/yr); 340 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,294 units permitted in Hendricks County in 2024 (18 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.
• Hendricks County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $215,198 (25.5% 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 61 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.74% ✗
• Cap rate: 4.80%
• Cash-on-cash: -5.33%
• DSCR: 0.76
• GRM: 11.2

CMA / ARV

• ARV (median comp): $372,546
• List price: $289,000
• Delta: -22.43%
• 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
1027 E Logan St	0.38mi	3/1.5	1,619 (-2%)	0mo	$245,000	$151	76
291 Lakemoore St	0.45mi	3/2.0	1,570 (-5%)	2mo	$299,000	$190	69
212 Maplebrook Dr	0.50mi	3/2.0	1,582 (-5%)	1mo	$206,000	$130	68
218 Lakemoore St	0.39mi	3/2.0	1,800 (+9%)	1mo	$330,000	$183	67
12 Longview Bnd	0.42mi	3/2.0	1,786 (+8%)	2mo	$317,500	$178	66
252 N Odell St	0.42mi	4/2.0 (+1)	1,586 (-4%)	3mo	$307,000	$194	66
601 S Jefferson St	0.56mi	3/1.5	1,560 (-6%)	4mo	$272,000	$174	59
475 N Odell St	0.68mi	4/2.5 (+1)	1,656 (-0%)	6mo	$295,000	$178	56
1105 S Odell St	0.65mi	3/2.0	1,812 (+9%)	0mo	$320,003	$177	54
114 S Jefferson St	0.60mi	2/1.0 (-1)	1,588 (-4%)	6mo	$217,000	$137	51
222 Pamela Pkwy	0.65mi	3/1.5	1,441 (-13%)	1mo	$260,000	$180	45
122 Prairie Pkwy	0.74mi	3/1.5	1,840 (+11%)	2mo	$255,000	$139	44

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 · 6.31% rent growth · sell at horizon

5-year hold

• IRR: -21.6%
• Equity multiple: 0.23×
• Total profit: $-62,246
• Equity at exit: $43,091

10-year hold

• IRR: -8.8%
• Equity multiple: 0.37×
• Total profit: $-50,864
• Equity at exit: $24,987

Cash invested: $80,920 (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 46112

• Rents YoY: 6.3%
• Active inventory: 340
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,152 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$424 /mo · $5,082/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $-359

Break-even live

Break-even rent $2,607

Max offer price $225,510

Occupancy floor —

Sensitivity live

Price	-10% $-196	-5% $-278	+0% $-359	+5% $-441	+10% $-523
Rent	-10% $-529	-5% $-444	+0% $-359	+5% $-274	+10% $-189
Rate	-1.0pp $-214	-0.5pp $-286	base $-359	+0.5pp $-434	+1.0pp $-510

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
288 N Odell St Brownsburg, IN	3.0	2.0	1408	$2,000	$1.42	0d	1	0.56mi
275 Lazy Hollow Dr Brownsburg, IN	4.0	2.5	2190	$2,571	$1.17	45d	1	0.58mi
102 Murphy Ln Brownsburg, IN	3.0	1.5	1248	$1,775	$1.42	9d	1	0.61mi
443 N Odell St Brownsburg, IN	4.0	2.5	1984	$2,391	$1.21	24d	1	0.66mi
457 Sable Chase Brownsburg, IN	3.0	2.0	1408	$2,185	$1.55	6d	1	0.68mi
28 Parkwood Dr Brownsburg, IN	3.0	2.0	1422	$1,760	$1.24	19d	1	0.71mi
5793 N Green St Brownsburg, IN	1.0–2.0	1.0–2.0	835	$1,678	$2.01	6d	7	0.97mi
5793 N Green St Brownsburg, IN	1.0–2.0	1.0–2.0	835	$1,678	$2.01	0d	7	0.97mi
7249 Arbuckle Cmns Brownsburg, IN	1.0–2.0	1.0–2.5	1548	$2,545	$1.64	0d	19	1.03mi
7774 Bedford Ct Brownsburg, IN	2.0	1.5	1071	$1,865	$1.74	0d	5	1.07mi
640 N Grant St Brownsburg, IN	2.0	2.0	1116	$1,550	$1.39	16d	1	1.17mi
640 N Grant St Brownsburg, IN	2.0	2.0	1116	$1,550	$1.39	0d	1	1.17mi
460 Brookview Dr Brownsburg, IN	4.0	2.5	2240	$2,600	$1.16	45d	1	1.18mi

Listing history 5 events

1. 2026-05-11
   status Active 1467-char remark

   Show marketing remark (1467 chars)

   Welcome home to this nice size, 5 Bedroom, Open Concept home, located on a cul-de-sac and just minutes from all the FUN things that the city of Brownsburg has to offer. This home has a full basement where you will find the Washer and Dryer along with TONS of Storage space and could even be turned into more living space or a workshop area, the possibilities are endless. On the main level of the home is the Open Concept Kitchen, Dining & Living room. The kitchen with its HUGE peninsula that you can pull bar stools up to, adding additionally seating, when having large gatherings, to and stainless steel appliances and Quartz Countertops, will not disappoint. Dining area is to the right of the kitchen and with a sliding door leading out to the NEW deck making cookouts a breeze. There's also the pantry with its barn door that adds so much charm & extra storage to the space. The large living room is great for big parties /family gatherings, with TONS of natural light flowing throughout the entire home. The main level is where you will find 2 of the 5 bedrooms and a full bath. Upper level has the other 3 bedrooms another full bath and a loft area at the top of the stairs, big enough that it could be used as a reading nook, desk area, sitting area etc. the outside space is Wonderful with its covered patio right outside the back door and adjacent to the huge 2 car garage. You won't want to miss out on an opportunity to own this Home Sweet Home!

2. 2026-04-27
   status Active 1467-char remark

   Show marketing remark (1467 chars)

   Welcome home to this nice size, 5 Bedroom, Open Concept home, located on a cul-de-sac and just minutes from all the FUN things that the city of Brownsburg has to offer. This home has a full basement where you will find the Washer and Dryer along with TONS of Storage space and could even be turned into more living space or a workshop area, the possibilities are endless. On the main level of the home is the Open Concept Kitchen, Dining & Living room. The kitchen with its HUGE peninsula that you can pull bar stools up to, adding additionally seating, when having large gatherings, to and stainless steel appliances and Quartz Countertops, will not disappoint. Dining area is to the right of the kitchen and with a sliding door leading out to the NEW deck making cookouts a breeze. There's also the pantry with its barn door that adds so much charm & extra storage to the space. The large living room is great for big parties /family gatherings, with TONS of natural light flowing throughout the entire home. The main level is where you will find 2 of the 5 bedrooms and a full bath. Upper level has the other 3 bedrooms another full bath and a loft area at the top of the stairs, big enough that it could be used as a reading nook, desk area, sitting area etc. the outside space is Wonderful with its covered patio right outside the back door and adjacent to the huge 2 car garage. You won't want to miss out on an opportunity to own this Home Sweet Home!

3. 2026-04-13
   status Pending 1467-char remark

   Show marketing remark (1467 chars)

   Welcome home to this nice size, 5 Bedroom, Open Concept home, located on a cul-de-sac and just minutes from all the FUN things that the city of Brownsburg has to offer. This home has a full basement where you will find the Washer and Dryer along with TONS of Storage space and could even be turned into more living space or a workshop area, the possibilities are endless. On the main level of the home is the Open Concept Kitchen, Dining & Living room. The kitchen with its HUGE peninsula that you can pull bar stools up to, adding additionally seating, when having large gatherings, to and stainless steel appliances and Quartz Countertops, will not disappoint. Dining area is to the right of the kitchen and with a sliding door leading out to the NEW deck making cookouts a breeze. There's also the pantry with its barn door that adds so much charm & extra storage to the space. The large living room is great for big parties /family gatherings, with TONS of natural light flowing throughout the entire home. The main level is where you will find 2 of the 5 bedrooms and a full bath. Upper level has the other 3 bedrooms another full bath and a loft area at the top of the stairs, big enough that it could be used as a reading nook, desk area, sitting area etc. the outside space is Wonderful with its covered patio right outside the back door and adjacent to the huge 2 car garage. You won't want to miss out on an opportunity to own this Home Sweet Home!

4. 2026-04-06
   price $289,000 1467-char remark

   Show marketing remark (1467 chars)

   Welcome home to this nice size, 5 Bedroom, Open Concept home, located on a cul-de-sac and just minutes from all the FUN things that the city of Brownsburg has to offer. This home has a full basement where you will find the Washer and Dryer along with TONS of Storage space and could even be turned into more living space or a workshop area, the possibilities are endless. On the main level of the home is the Open Concept Kitchen, Dining & Living room. The kitchen with its HUGE peninsula that you can pull bar stools up to, adding additionally seating, when having large gatherings, to and stainless steel appliances and Quartz Countertops, will not disappoint. Dining area is to the right of the kitchen and with a sliding door leading out to the NEW deck making cookouts a breeze. There's also the pantry with its barn door that adds so much charm & extra storage to the space. The large living room is great for big parties /family gatherings, with TONS of natural light flowing throughout the entire home. The main level is where you will find 2 of the 5 bedrooms and a full bath. Upper level has the other 3 bedrooms another full bath and a loft area at the top of the stairs, big enough that it could be used as a reading nook, desk area, sitting area etc. the outside space is Wonderful with its covered patio right outside the back door and adjacent to the huge 2 car garage. You won't want to miss out on an opportunity to own this Home Sweet Home!

5. 2026-02-27
   listed $299,000 Active 1467-char remark

   Show marketing remark (1467 chars)

   Welcome home to this nice size, 5 Bedroom, Open Concept home, located on a cul-de-sac and just minutes from all the FUN things that the city of Brownsburg has to offer. This home has a full basement where you will find the Washer and Dryer along with TONS of Storage space and could even be turned into more living space or a workshop area, the possibilities are endless. On the main level of the home is the Open Concept Kitchen, Dining & Living room. The kitchen with its HUGE peninsula that you can pull bar stools up to, adding additionally seating, when having large gatherings, to and stainless steel appliances and Quartz Countertops, will not disappoint. Dining area is to the right of the kitchen and with a sliding door leading out to the NEW deck making cookouts a breeze. There's also the pantry with its barn door that adds so much charm & extra storage to the space. The large living room is great for big parties /family gatherings, with TONS of natural light flowing throughout the entire home. The main level is where you will find 2 of the 5 bedrooms and a full bath. Upper level has the other 3 bedrooms another full bath and a loft area at the top of the stairs, big enough that it could be used as a reading nook, desk area, sitting area etc. the outside space is Wonderful with its covered patio right outside the back door and adjacent to the huge 2 car garage. You won't want to miss out on an opportunity to own this Home Sweet Home!

ⓘ 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: $5,082 · $424/mo
• Projected year-2 tax: $5,082 · $424/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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $25,824
• − Mortgage interest: −$16,188
• − Property taxes: −$5,082
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,066
• − Management: −$2,066
• − Depreciation: −$8,407
• Taxable loss: −$9,431
• Est. tax savings @ 24.0%: +$2,263
• After-tax cash flow: $-2,049/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: Brownsburg Community School Corporation
• NCES district ID: 1801020
• Math proficiency: 72% ▼ -5.00%
• Reading proficiency: 72% ▼ -4.00%
• Median HH income: $75,304
• Composite: 63.45/100
• National rank: #616
• State rank: #2 of 301 in IN

Livability — Brownsburg

• Score: 75/100
• State rank: #61
• US rank: #4105

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brownsburg, IN
• County: Hendricks County · 143,373 people
• City population: 44,220
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 44,220
• Household income: $112,565
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 614.0

Population outlook (Hendricks County) Hauer SSP2

• Today (2025): 187,418 people
• By 2030: 201,494 · +7.5%
• By 2040: 228,487 · +21.9%
• By 2050: 253,068 · +35.0%
• By 2075: 308,920 · +64.8%
• By 2100: 336,510 · +79.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 10% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Slovak 3% Iranian 2% Romanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Hendricks

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.7%
• 2008→2024 swing: +1.9pp toward D · 2008: -23.4pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+23.9 2016: R+34.2 2012: R+34.9 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.99%
• Current HPI: 217.3787
• Rent YoY: ▲ 6.31%
• 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

-3.3% since first listed

5 events — show timeline

• 2026-05-11 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-27 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-13 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-06 Price Changed $289,000 MIBOR as Distributed by MLS Grid
• 2026-02-27 Listed $299,000 MIBOR as Distributed by MLS Grid

Property tax history

+12.5%/yr

Latest (2025): $5,082 · +10.0% YoY. Source: county tax records.