1066 Quarterhorse Run

Bargersville, IN 46106

$309,900D-

3 bd · 2.5 ba · 2,212 sqft · Built 2004 · SingleFamily · Pending · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,218/mo
• Mortgage (P&I): −$1,625
• Tax + insurance: −$402
• HOA: −$0
• Vac / Maint / Mgmt: −$466
• Net cashflow: $-275/mo
• Annual: $-3,304/yr
• Cap rate: 5.23%
• Cash-on-cash: -3.81%
• DSCR: 0.83
• 1% rule: 0.72%
• Cash to close: $86,772

Investor read

• This is a 3-bed/2.5-bath single-family listed at $310k.
• At list price, monthly cash flow is $-275 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (15.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (28.4% below list).
• It's been on market 28 days — a 2% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $222k (28.4% below list) — sets the bar for 1% rule.
• 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.
• Location reads 70/100 on livability (#150 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: amenities F, commute F, health & safety F.
• Franklin Community School Corporation (suburban): math 36% / reading 44% proficiency, ranked #133 of 301 in IN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Union Elementary School (math 74% / reading 74%, grade A, #17 of 994 statewide, top 2%, 164 students, 32% FRL); Franklin Community High School (math 29% / reading 69%, grade D, #136 of 369 statewide, top 37%, 1,610 students, 41% FRL) — zoned schools at 37% FRL track the district average.
• Zoned-school proficiency averages 62% at this address vs 40% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Franklin Community School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 16 active listings in the ZIP; high-income renter base; 1,133 units permitted in Johnson County in 2024 (0 in 5+ unit buildings).
• Johnson County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 13y 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 $310k implies a 133% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.