Chestnut Plan · Whitestown, IN 46075

$309,995

3 bd · 2.0 ba · 1,801 sqft · SingleFamily · 132 Days on market

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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 +5.2/30.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +0.9/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for the perfect ranch-style home as your new home? Take a look at The Chestnut and its many optional upgrades. With the option to add a bonus room with a bedroom and full bathroom, you have the potential for 2,600+ square feet of living space in a ranch home. When you enter the home, you will see the first two bedrooms and a full bathroom. As you move throughout The Chestnut, notice the open floorplan layout to make the home feel larger. Entertaining for the holidays and events can be done with ease in this large open concept kitchen, dining, and living space. The L-Shaped kitchen ensures that you never feel left out when entertaining guests. With an included kitchen island, this space makes seating easy- the ideal gathering place in a home. Interested in upgrading your kitchen to the gourmet option? This is the perfect plan to take that extra step. Don't worry about running out of storage with a walk-in pantry and spacious cabinets lining the walls. The primary suite includes many additional features- including an optional single step ceiling, a large walk-in closet with the ability to connect with the utility room, and more. Upgrade your primary bathroom with an optional double bowl vanity, an optional tile shower, or an optional deluxe bathroom with a separate garden tub and shower. Visit any of our communities to learn more today!

Key facts

• Open concept kitchen
• L shaped kitchen
• Bonus room

Tags

• RANCH STYLE HOME
• BONUS ROOM
• OPEN FLOORPLAN LAYOUT
• OPEN CONCEPT KITCHEN
• L SHAPED KITCHEN
• KITCHEN ISLAND

🏗️ New construction. The $309,995 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $393,514.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $310k.

Deal economics

• At list price, monthly cash flow is $-887 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (14.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (25.2% below list).
• Recommended offer: $232k (25.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#109 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A; Watch: amenities F, commute F, health & safety F.
• Lebanon Community School Corporation (town): math 41% / reading 44% proficiency, ranked #115 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 268 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 898 units permitted in Boone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Boone County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.

Recommended offer $231,967 (25.2% 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 132 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.59% ✗
• Cap rate: 3.59%
• Cash-on-cash: -9.66%
• DSCR: 0.57
• GRM: 14.1

CMA / ARV

• ARV (median comp): $393,514
• List price: $309,995
• Delta: -21.22%
• 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
6432 Green Grass Ln	0.53mi	3/2.5	1,728 (-4%)	4mo	$305,000	$177	63
6376 Dusty Laurel Dr	0.59mi	3/2.0	1,705 (-5%)	1mo	$320,000	$188	63
4144 Homestead Dr	0.56mi	2/2.0 (-1)	1,710 (-5%)	1mo	$335,000	$196	59
3822 Limelight Ln	0.58mi	3/2.5	1,912 (+6%)	4mo	$310,000	$162	57
6328 Dusty Laurel Dr	0.64mi	3/2.0	1,648 (-8%)	4mo	$320,000	$194	53
307 S Bowers St	0.63mi	3/2.0	1,958 (+9%)	7mo	$235,000	$120	50
6529 Amber Ct	0.62mi	2/2.0 (-1)	1,716 (-5%)	15mo	$324,000	$189	46
6413 Green Grass Ln	0.55mi	3/2.5	1,956 (+9%)	15mo	$319,000	$163	46
4121 Deere Ct	0.61mi	2/2.0 (-1)	1,710 (-5%)	15mo	$319,900	$187	45
3811 Tartan Trl	0.62mi	3/2.5	1,992 (+11%)	12mo	$325,000	$163	42
301 S Main St	0.61mi	2/2.0 (-1)	1,632 (-9%)	12mo	$260,000	$159	41
3558 Limelight Ln	0.72mi	3/2.0	1,542 (-14%)	9mo	$270,000	$175	35

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 · 0.77% rent growth · sell at horizon

5-year hold

• IRR: -36.0%
• Equity multiple: -0.14×
• Total profit: $-125,313
• Equity at exit: $58,674

10-year hold

• IRR: -66.2%
• Equity multiple: -0.83×
• Total profit: $-201,698
• Equity at exit: $34,024

Cash invested: $110,184 (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 46075

• Home prices YoY: -20.0%
• Rents YoY: 0.8%
• Active inventory: 268
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,320 high
• Mortgage (P&I): −$2,064
• Tax est. 1.5%: −$492 /mo · $5,903/yr
• Insurance: −$164
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $-887

Break-even live

Break-even rent $3,442

Max offer price $265,171

Occupancy floor —

Sensitivity live

Price	-10% $-615	-5% $-751	+0% $-887	+5% $-1,023	+10% $-1,159
Rent	-10% $-1,070	-5% $-979	+0% $-887	+5% $-795	+10% $-704
Rate	-1.0pp $-689	-0.5pp $-787	base $-887	+0.5pp $-989	+1.0pp $-1,093

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: $98,379
• Closing costs: $11,805
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3918 Blue Roan Blvd Whitestown, IN	1.0–3.0	1.0–3.0	1000	$2,550	$2.55	2d	10	0.25mi
3845 Stallion St Whitestown, IN	3.0	2.0	1250	$2,399	$1.92	24d	1	0.27mi
3340 Preakness St Whitestown, IN	4.0	2.5	2426	$2,699	$1.11	3d	1	0.40mi
3821 Lilac Ln Whitestown, IN	1.0–4.0	1.0–2.0	1165	$1,479	$1.27	2d	10	0.47mi
3786 White Cliff Way Whitestown, IN	3.0	2.0	1944	$1,971	$1.01	44d	1	0.55mi
3807 Tartan Trl Whitestown, IN	3.0	3.0	2130	$2,381	$1.12	44d	1	0.63mi
3550 Limelight Ln Whitestown, IN	3.0	2.0	1429	$2,140	$1.50	8d	1	0.75mi
2881 Cross Branch Dr Whitestown, IN	3.0–4.0	2.5	1835	$2,199	$1.20	19d	4	0.76mi
3823 Indigo Blue Blvd Whitestown, IN	3.0	2.5	1992	$1,941	$0.97	13d	1	0.86mi
6258 Colonial Dr Whitestown, IN	3.0	2.5	1900	$2,150	$1.13	44d	1	0.90mi
3825 Gray Heather Ln Whitestown, IN	3.0	2.5	1992	$1,976	$0.99	8d	1	0.92mi
3835 Dusty Sands Rd Whitestown, IN	3.0	2.0	1240	$2,195	$1.77	24d	1	1.00mi
5773 Weeping Willow Pl Whitestown, IN	4.0	2.5	2514	$2,201	$0.88	8d	1	1.02mi
6389 Wasco Dr Whitestown, IN	3.0	2.5	1802	$2,150	$1.19	4d	1	1.07mi
2606 Plano Dr Unit NA Whitestown, IN	4.0	3.0	2119	$2,600	$1.23	2d	1	1.16mi
7073 Fowler Dr Whitestown, IN	4.0	3.5	2491	$2,550	$1.02	2d	1	1.18mi
6296 Granby Dr Whitestown, IN	3.0	2.5	1550	$2,200	$1.42	2d	1	1.19mi
2557 Lamar Dr Whitestown, IN	4.0	2.5	1981	$2,199	$1.11	44d	1	1.23mi
6924 Park Grove Blvd Whitestown, IN	4.0	3.0	2539	$2,516	$0.99	2d	1	1.27mi
6831 Orchard Run Cir Whitestown, IN	4.0	2.5	2131	$2,350	$1.10	2d	1	1.28mi
3567 Sugar Grove Dr Unit 1542524P Whitestown, IN	3.0	2.0	1829	$3,581	$1.96	3d	1	1.36mi

Listing history 14 events

1. 2026-06-18
   days on market $309,995 Active 132 DOM
2. 2026-06-17
   days on market $309,995 Active 131 DOM
3. 2026-06-16
   days on market $309,995 Active 130 DOM
4. 2026-06-15
   days on market $309,995 Active 129 DOM
5. 2026-06-13
   days on market $309,995 Active 127 DOM
6. 2026-06-09
   days on market $309,995 Active 123 DOM
7. 2026-06-08
   days on market $309,995 Active 122 DOM
8. 2026-06-07
   days on market $309,995 Active 121 DOM
9. 2026-06-03
   days on market $309,995 Active 117 DOM
10. 2026-06-02
    days on market $309,995 Active 116 DOM
11. 2026-06-01
    days on market $309,995 Active 115 DOM
12. 2026-05-31
    days on market $309,995 Active 114 DOM
13. 2026-02-09
    price $309,995 1364-char remark

    Show marketing remark (1364 chars)

    Looking for the perfect ranch-style home as your new home? Take a look at The Chestnut and its many optional upgrades. With the option to add a bonus room with a bedroom and full bathroom, you have the potential for 2,600+ square feet of living space in a ranch home. When you enter the home, you will see the first two bedrooms and a full bathroom. As you move throughout The Chestnut, notice the open floorplan layout to make the home feel larger. Entertaining for the holidays and events can be done with ease in this large open concept kitchen, dining, and living space. The L-Shaped kitchen ensures that you never feel left out when entertaining guests. With an included kitchen island, this space makes seating easy- the ideal gathering place in a home. Interested in upgrading your kitchen to the gourmet option? This is the perfect plan to take that extra step. Don't worry about running out of storage with a walk-in pantry and spacious cabinets lining the walls. The primary suite includes many additional features- including an optional single step ceiling, a large walk-in closet with the ability to connect with the utility room, and more. Upgrade your primary bathroom with an optional double bowl vanity, an optional tile shower, or an optional deluxe bathroom with a separate garden tub and shower. Visit any of our communities to learn more today!

14. 2026-02-07
    listed $306,995 Active 1364-char remark

    Show marketing remark (1364 chars)

    Looking for the perfect ranch-style home as your new home? Take a look at The Chestnut and its many optional upgrades. With the option to add a bonus room with a bedroom and full bathroom, you have the potential for 2,600+ square feet of living space in a ranch home. When you enter the home, you will see the first two bedrooms and a full bathroom. As you move throughout The Chestnut, notice the open floorplan layout to make the home feel larger. Entertaining for the holidays and events can be done with ease in this large open concept kitchen, dining, and living space. The L-Shaped kitchen ensures that you never feel left out when entertaining guests. With an included kitchen island, this space makes seating easy- the ideal gathering place in a home. Interested in upgrading your kitchen to the gourmet option? This is the perfect plan to take that extra step. Don't worry about running out of storage with a walk-in pantry and spacious cabinets lining the walls. The primary suite includes many additional features- including an optional single step ceiling, a large walk-in closet with the ability to connect with the utility room, and more. Upgrade your primary bathroom with an optional double bowl vanity, an optional tile shower, or an optional deluxe bathroom with a separate garden tub and shower. Visit any of our communities to learn more today!

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 17 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: $27,836
• − Mortgage interest: −$22,043
• − Property taxes: −$5,903
• − Insurance: −$1,968
• − Repairs & maintenance: −$2,227
• − Management: −$2,227
• − Depreciation: −$11,448
• Taxable loss: −$17,979
• Est. tax savings @ 24.0%: +$4,315
• After-tax cash flow: $-6,329/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: Lebanon Community School Corporation
• NCES district ID: 1805790
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $52,178
• Composite: 36.77/100
• National rank: #4571
• State rank: #115 of 301 in IN

Livability — Whitestown

• Score: 73/100
• State rank: #109
• US rank: #5691

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whitestown, IN
• County: Boone County · 69,822 people
• City population: 9,509
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 9,509
• Household income: $117,002
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 287.0

Population outlook (Boone County) Hauer SSP2

• Today (2025): 77,877 people
• By 2030: 85,185 · +9.4%
• By 2040: 99,753 · +28.1%
• By 2050: 113,572 · +45.8%
• By 2075: 145,674 · +87.1%
• By 2100: 161,165 · +106.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Asian 4% Hispanic / Latino 3% Black 3%
• Common ancestry: Italian 4% Romanian 3% Slovak 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Other Indo-European 5% Spanish 2% Chinese 1%

Political lean MEDSL · Boone

• 2024 margin: R (+16.0) · D 41.0% · R 57.0% · Other 2.0%
• 2008→2024 swing: +9.8pp toward D · 2008: -25.8pp · 2024: -16.0pp
• All cycles: 2024: R+16.0 2020: R+18.4 2016: R+29.5 2012: R+37.8 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.51%
• Current HPI: 198.3353
• Rent YoY: ▲ 0.77%
• 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

+1.0% since first listed

2 events — show timeline

• 2026-02-09 Price Changed $309,995 Zillow
• 2026-02-07 Listed $306,995 Zillow