17352 Rancorn Pl · Westfield, IN 46074

$315,000

3 bd · 2.5 ba · 1,830 sqft · Townhouse public records · 4 Days on market

Built 2023 3,049 sqft lot Est $384k · 18% under $90/mo HOA · 4% of rent ↓ 5% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +10.4/30.0
• Schools +5.5/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• DSCR +3.0/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into sun-filled living in Westfield's Westgate-where every day feels simple, bright, and connected. This contemporary townhome welcomes you with an airy open-concept design, anchored by a sleek kitchen (stainless steel appliances, large island, chic cabinetry), and effortless gathering zones for work or unwinding. A flexible main floor study adapts to your style-office, play, or creative escape-while the upstairs loft delivers room to grow and recharge. The private primary suite is your daily retreat, with a spa-inspired bath and walk-in closet. Enjoy true low-maintenance living so you can focus on what matters: neighborhood walks, relaxing by the pool, or staying active in the clubhou

Key facts

• Open-concept design
• Upstairs loft
• Walk-in closet

Tags

• OPEN-CONCEPT DESIGN
• FLEXIBLE MAIN FLOOR STUDY
• UPSTAIRS LOFT
• PRIVATE PRIMARY SUITE
• SPA-INSPIRED BATH
• WALK-IN CLOSET

Property features AI

Finance

• HOA & community: Homeowners association with annual fee; HOA fee covers entrance common, lawn care, and walking trails; Association amenities include trails and parking; HOA governed with covenants & restrictions

Exterior

• Parking: Attached 2-car garage (480 sq ft)
• Security: Smoke alarm
• Utilities: Public water; Municipal sewer
• Home design: Attached townhouse; Two levels; Faces west; Low acreage lot (< 1/4 acre)
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Covered patio/porch; No fence; Sidewalks; Neighborhood trees (small); Suburban setting; Has a view

Interior

• Kitchen: Dishwasher; Gas oven; Microwave with hood; Refrigerator; Eat-in kitchen layout
• Bedrooms: 3 upper-level bedrooms; Primary bedroom with walk-in closet
• Flooring: Luxury vinyl plank in dining room, kitchen, great room and office
• Bathrooms: 2 full bathrooms; 1 half bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Breakfast bar; Eat-in kitchen; Walk-in closet(s); Painted woodwork; Shower stall in primary bathroom; Double sinks in primary bathroom; Primary bathroom suite
• Laundry & utility: Washer; Dryer; Laundry located on upper level; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $315k.

Deal economics

• At list price, monthly cash flow is $-167 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (22.1% below list).
• Recommended offer: $245k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.0% 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: Maple Glen Elementary (math 67% / reading 60%, grade B, #95 of 994 statewide, top 10%, 562 students, 12% FRL); Westfield High School (math 61% / reading 85%, grade B+, #8 of 369 statewide, top 2%, 2,665 students, 18% FRL) — zoned schools at 15% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 809 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $9k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $245,248 (22.1% 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: 0.78% ✗
• Cap rate: 5.66%
• Cash-on-cash: -2.27%
• DSCR: 0.90
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $384,300
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17237 Rancorn Pl	0.14mi	3/2.5	1,816 (-1%)	10mo	$288,500	$159	84
1756 W 171st St W	0.17mi	3/2.5	1,736 (-5%)	0mo	$307,500	$177	83
17444 Carrier Dr	0.37mi	3/2.5	1,829 (-0%)	4mo	$396,000	$217	79
1951 Mildred Rd	0.33mi	3/2.5	1,816 (-1%)	7mo	$300,000	$165	78
2027 Mildred Rd	0.44mi	3/2.5	1,816 (-1%)	8mo	$309,000	$170	72
1461 Whistle Way	0.38mi	3/3.0	1,993 (+9%)	3mo	$418,000	$210	63
2165 Mildred Rd	0.52mi	3/2.5	1,771 (-3%)	14mo	$335,000	$189	59
2171 Mildred Rd	0.52mi	3/2.5	1,736 (-5%)	13mo	$314,500	$181	57
17443 Carrier Dr	0.38mi	2/2.5 (-1)	1,583 (-14%)	3mo	$388,000	$245	52
17447 Carrier Dr	0.39mi	3/3.5	2,102 (+15%)	3mo	$455,000	$216	51
1450 Whistle Way	0.39mi	2/2.5 (-1)	1,567 (-14%)	8mo	$475,000	$303	46
1451 Whistle Way	0.39mi	3/3.0	2,104 (+15%)	11mo	$592,400	$282	46

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: -18.7%
• Equity multiple: 0.34×
• Total profit: $-58,549
• Equity at exit: $46,968

10-year hold

• IRR: -8.9%
• Equity multiple: 0.42×
• Total profit: $-51,469
• Equity at exit: $27,235

Cash invested: $88,200 (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 46074

• Rents YoY: 4.3%
• Active inventory: 809
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,452 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$231 /mo · $2,778/yr
• Insurance: −$131
• HOA: −$90
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $-167

Break-even live

Break-even rent $2,664

Max offer price $285,471

Occupancy floor —

Sensitivity live

Price	-10% $11	-5% $-78	+0% $-167	+5% $-256	+10% $-345
Rent	-10% $-361	-5% $-264	+0% $-167	+5% $-70	+10% $27
Rate	-1.0pp $-9	-0.5pp $-87	base $-167	+0.5pp $-249	+1.0pp $-332

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17348 Rancorn Pl Unit 1 Westfield, IN	3.0	2.5	1736	$2,200	$1.27	45d	1	0.02mi
1793 Trinity Ln Westfield, IN	3.0	2.5	1736	$2,095	$1.21	45d	1	0.05mi
1788 Trinity Ln Westfield, IN	3.0	2.5	1736	$1,950	$1.12	45d	1	0.06mi
17321 Rancorn Pl Unit 1 Westfield, IN	3.0	2.5	1710	$2,200	$1.29	18d	1	0.07mi
17305 Rancorn Pl Unit 1 Westfield, IN	3.0	2.5	1771	$2,300	$1.30	24d	1	0.08mi
17355 Wellburn Dr Unit 1373721P Westfield, IN	3.0	2.0	1808	$3,368	$1.86	4d	1	0.10mi
1704 Trinity Ln Westfield, IN	3.0	2.5	1771	$2,375	$1.34	45d	1	0.13mi
17255 Gresham Ln Westfield, IN	4.0	2.5	2352	$3,700	$1.57	24d	1	0.17mi
1939 Mildred Rd Westfield, IN	3.0	3.0	1771	$2,300	$1.30	45d	1	0.29mi
2052 Rowena Ln Westfield, IN	3.0	2.5	1736	$2,195	$1.26	45d	1	0.46mi
1034 Hendon Ct Westfield, IN	3.0	2.0	1618	$2,075	$1.28	45d	1	0.82mi
1418 Moose Ridge Ln Westfield, IN	3.0	2.5	2424	$2,841	$1.17	13d	1	0.83mi
17995 Cunning Ct Westfield, IN	3.0	2.5	1738	$2,350	$1.35	2d	6	0.97mi
879 Northwich Ave Westfield, IN	3.0	2.0	1677	$2,050	$1.22	45d	1	1.04mi
881 Warrington Ave Westfield, IN	3.0	2.5	1296	$1,899	$1.47	5d	1	1.06mi
717 Crispin Ln Westfield, IN	3.0	2.0	1613	$2,400	$1.49	45d	1	1.31mi

HOA detail

• Monthly dues: $90 · $1,080/yr
• Likely covers: pool

Listing history 5 events

1. 2026-06-16
   status $315,000 Pending 4 DOM
2. 2026-06-15
   days on market $315,000 Active 4 DOM
3. 2026-06-13
   days on market $315,000 Active 2 DOM
4. 2026-06-13
   remarks 699-char remark
5. 2026-06-13
   listed $315,000 Active 1 DOM

ⓘ 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: $2,778 · $231/mo
• Projected year-2 tax: $2,778 · $231/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $29,430
• − Mortgage interest: −$17,645
• − Property taxes: −$2,778
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,354
• − Management: −$2,354
• − HOA: −$1,080
• − Depreciation: −$9,164
• Taxable loss: −$7,520
• Est. tax savings @ 24.0%: +$1,805
• After-tax cash flow: $-201/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: 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

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 · 337,479 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: 742.0

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

-4.5% since first listed

6 events — show timeline

• 2026-05-30 Listed $315,000 MIBOR as Distributed by MLS Grid
• 2026-01-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-10-15 Price Changed $317,499 MIBOR as Distributed by MLS Grid
• 2025-09-18 Price Changed $319,999 MIBOR as Distributed by MLS Grid
• 2025-08-12 Price Changed $324,999 MIBOR as Distributed by MLS Grid
• 2025-07-25 Listed $329,999 MIBOR as Distributed by MLS Grid

Property tax history

-16.6%/yr

Latest (2025): $2,778 · -16.6% YoY. Source: county tax records.