4088 Del Mar Ln · Plainfield, IN 46168

$349,900

4 bd · 3.0 ba · 2,740 sqft · SingleFamily public records · 21 Days on market

Built 2005 7,841 sqft lot $128/sqft · 13% below area Est $404k · 13% under $32/mo HOA · 1% of rent

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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 +13.6/15.0
• Cash flow +7.5/30.0
• Schools +5.5/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bright and spacious, 2 story home with 4 BD/3 FULL BATH in Paddock of Saratoga near parks & trails. Great Room is open thru to the Kitchen, featuring a large pantry. Master Suite includes a huge walk-in closet...All 4 Bedrooms have walk-in closets. Upstairs has a large loft. Enjoy the beautiful pond view. Fully fenced back yard. Extra space in garage for storage. WINDOWS GALORE...Let the Sun Shine in!

Key facts

• Office sitting room
• Ss appliances
• Movable island

Tags

• LVP FLOORING
• OFFICE SITTING ROOM
• DECORATIVE FIREPLACE MANTLE
• MOVABLE ISLAND
• SS APPLIANCES
• GAS RANGE

Property features AI

Finance

• HOA & community: HOA with mandatory fee; Semi-annual association fee; HOA covers entrance/common areas, insurance, maintenance, park and playground; Community amenities: park, playground; HOA governed by covenants and restrictions

Exterior

• Parking: Attached 2-car garage with keyless entry and garage door opener
• Security: Security system; Smoke alarm
• Utilities: Public water; Municipal sewer connected; Natural gas connected; Cable available
• Home design: Single-family residence; Two levels; Residential property
• Construction: Vinyl with brick exterior; Slab foundation
• Exterior features: Covered patio/porch; Fire pit; Full fence; Mature trees; Sidewalks; Storm sewer; Pond and water view (on waterfront)

Interior

• Kitchen: Dishwasher; Gas oven; Microwave with hood; Garbage disposal; Refrigerator; Water purifier
• Bedrooms: Primary bedroom with walk-in closet; Four upper-level bedrooms
• Bathrooms: Three full bathrooms; Primary bathroom with tub and shower
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; High ceilings; Walk-in closets; Eat-in kitchen; Pantry; Smart thermostat; Utility room
• Laundry & utility: Main-level laundry; Washer and dryer included; Tankless water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-430 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $274k (21.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (35.4% below list).
• Recommended offer: $226k (35.4% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.7% in Plainfield — 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 74/100 on livability (#69 in IN, #4,418 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Plainfield Community School Corporation (suburban): math 62% / reading 65% proficiency, ranked #11 of 301 in IN (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Plainfield High School (math 59% / reading 84%, grade B+, #15 of 369 statewide, top 4%, 1,782 students, 26% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: Rents rising (+3.6%/yr); 284 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).
• This rent runs 30% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 21 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $225,865 (35.4% 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: 0.65% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.27%
• DSCR: 0.77
• GRM: 12.9

CMA / ARV

• ARV (median comp): $404,493
• List price: $349,900
• Delta: -13.50%
• 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
4088 Del Mar Ln	0.00mi	4/3.0	2,740 (0%)	0mo	$325,000	$119	100
5778 Arlington Dr	0.22mi	4/2.5	2,764 (+1%)	1mo	$350,000	$127	85
4114 Spirea Dr	0.20mi	4/2.5	2,928 (+7%)	2mo	$414,900	$142	76
4011 Spirea Dr	0.21mi	4/2.5	3,056 (+12%)	3mo	$406,900	$133	67
5374 John Quincy Adams Ct	0.48mi	4/2.5	2,684 (-2%)	6mo	$390,000	$145	67
3610 Homestead Pl	0.57mi	5/2.5 (+1)	2,787 (+2%)	3mo	$369,900	$133	61
5733 Yorktown Rd	0.28mi	4/2.5	2,350 (-14%)	1mo	$349,900	$149	60
5276 Oakbrook Dr	0.64mi	4/3.5	2,656 (-3%)	6mo	$515,000	$194	58
4104 Lotus St	0.25mi	5/2.5 (+1)	3,115 (+14%)	1mo	$415,000	$133	58
5268 Oakbrook Dr	0.60mi	4/3.0	3,115 (+14%)	2mo	$574,900	$185	48
3581 Bartram Ln	0.56mi	3/3.5 (-1)	2,472 (-10%)	4mo	$375,000	$152	47
5594 Beale St	0.66mi	5/2.5 (+1)	2,971 (+8%)	1mo	$375,000	$126	47

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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: -24.7%
• Equity multiple: 0.16×
• Total profit: $-82,691
• Equity at exit: $52,171

10-year hold

• IRR: -18.8%
• Equity multiple: -0.04×
• Total profit: $-101,459
• Equity at exit: $30,253

Cash invested: $97,972 (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 46168

• Rents YoY: 3.6%
• Active inventory: 284
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $2,259 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$202 /mo · $2,420/yr
• Insurance: −$146
• HOA: −$32
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $-430

Break-even live

Break-even rent $2,803

Max offer price $273,938

Occupancy floor —

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5922 Juna Ave Unit 5922 Plainfield, IN	4.0	3.5	2346	$2,295	$0.98	43d	1	0.27mi
5980 Lomita Ave Plainfield, IN	3.0	2.5	1886	$2,000	$1.06	43d	1	0.33mi
269 N Vine St Plainfield, IN	4.0	1.0	1794	$1,625	$0.91	43d	1	1.23mi

HOA detail

• Monthly dues: $32 · $384/yr

Listing history 9 events

1. 2026-05-04
   listed $349,900 Active 864-char remark
2. 2026-01-17
   historical
3. 2025-11-22
   price $349,900
4. 2025-11-12
   listed $359,000 Active
5. 2016-07-07
   soldstatus $200,000 Sold

   Show marketing remark (408 chars)

   Bright and spacious, 2 story home with 4 BD/3 FULL BATH in Paddock of Saratoga near parks & trails. Great Room is open thru to the Kitchen, featuring a large pantry. Master Suite includes a huge walk-in closet...All 4 Bedrooms have walk-in closets. Upstairs has a large loft. Enjoy the beautiful pond view. Fully fenced back yard. Extra space in garage for storage. WINDOWS GALORE...Let the Sun Shine in!

6. 2016-06-23
   status Pending

   Show marketing remark (408 chars)

   Bright and spacious, 2 story home with 4 BD/3 FULL BATH in Paddock of Saratoga near parks & trails. Great Room is open thru to the Kitchen, featuring a large pantry. Master Suite includes a huge walk-in closet...All 4 Bedrooms have walk-in closets. Upstairs has a large loft. Enjoy the beautiful pond view. Fully fenced back yard. Extra space in garage for storage. WINDOWS GALORE...Let the Sun Shine in!

7. 2016-05-27
   historical Active with Contingency

   Show marketing remark (408 chars)

   Bright and spacious, 2 story home with 4 BD/3 FULL BATH in Paddock of Saratoga near parks & trails. Great Room is open thru to the Kitchen, featuring a large pantry. Master Suite includes a huge walk-in closet...All 4 Bedrooms have walk-in closets. Upstairs has a large loft. Enjoy the beautiful pond view. Fully fenced back yard. Extra space in garage for storage. WINDOWS GALORE...Let the Sun Shine in!

8. 2016-05-13
   price $204,900

   Show marketing remark (408 chars)

   Bright and spacious, 2 story home with 4 BD/3 FULL BATH in Paddock of Saratoga near parks & trails. Great Room is open thru to the Kitchen, featuring a large pantry. Master Suite includes a huge walk-in closet...All 4 Bedrooms have walk-in closets. Upstairs has a large loft. Enjoy the beautiful pond view. Fully fenced back yard. Extra space in garage for storage. WINDOWS GALORE...Let the Sun Shine in!

9. 2016-04-15
   listed $207,900 Active

   Show marketing remark (408 chars)

   Bright and spacious, 2 story home with 4 BD/3 FULL BATH in Paddock of Saratoga near parks & trails. Great Room is open thru to the Kitchen, featuring a large pantry. Master Suite includes a huge walk-in closet...All 4 Bedrooms have walk-in closets. Upstairs has a large loft. Enjoy the beautiful pond view. Fully fenced back yard. Extra space in garage for storage. WINDOWS GALORE...Let the Sun Shine in!

ⓘ 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: $2,420 · $202/mo
• Projected year-2 tax: $2,697 · $225/mo
• Expected delta: +$277/yr (+$23/mo · 11.5%)

ⓘ 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 4/10 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,104
• − Mortgage interest: −$19,600
• − Property taxes: −$2,420
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,168
• − Management: −$2,168
• − HOA: −$384
• − Depreciation: −$10,179
• Taxable loss: −$11,565
• Est. tax savings @ 24.0%: +$2,776
• After-tax cash flow: $-2,385/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: Plainfield Community School Corporation
• NCES district ID: 1808970
• Math proficiency: 62% ▼ -8.00%
• Reading proficiency: 65% ▼ -8.00%
• Median HH income: $58,531
• Composite: 54.79/100
• National rank: #1315
• State rank: #11 of 301 in IN

Livability — Plainfield

• Score: 74/100
• State rank: #69
• US rank: #4418

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plainfield, IN
• County: Hendricks County · 143,373 people
• City population: 38,826
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 38,826
• Household income: $90,000
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1029.0

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 (76%)
• Race & ethnicity: White 76% Black 9% Two or more races 8% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Lithuanian 1% Romanian 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 3% 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: ▼ -136.23%
• Current HPI: 205.5963
• Rent YoY: ▲ 3.65%
• 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

+56.3% since first listed

11 events — show timeline

• 2026-06-12 Sold (MLS) $325,000 MIBOR as Distributed by MLS Grid
• 2026-05-25 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-04 Listed $349,900 MIBOR as Distributed by MLS Grid
• 2026-01-17 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-11-22 Price Changed $349,900 MIBOR as Distributed by MLS Grid
• 2025-11-12 Listed $359,000 MIBOR as Distributed by MLS Grid
• 2016-07-07 Sold (MLS) $200,000 MIBOR as Distributed by MLS Grid
• 2016-06-23 Pending — MIBOR as Distributed by MLS Grid
• 2016-05-27 Contingent — MIBOR as Distributed by MLS Grid
• 2016-05-13 Price Changed $204,900 MIBOR as Distributed by MLS Grid
• 2016-04-15 Listed $207,900 MIBOR as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $2,420 · +6.4% YoY. Source: county tax records.