Palmetto Plan · Westfield, IN 46074

$411,995

4 bd · 2.5 ba · 2,580 sqft · SingleFamily · 575 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 +6.3/30.0
• Schools +5.5/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Palmetto is one of Arbor Homes' newest and most flexible floorplans - offering everything you could want in a new construction home. With multiple elevation styles, optional basements, and the choice of a full front porch or breezeway, The Palmetto can easily be tailored to your lifestyle. Step inside to a spacious front living area that can serve as a formal dining room or quiet office with optional double doors. As you move through the home, you'll notice the open and inviting layout designed for both comfort and functionality. The chef-inspired kitchen features an L-shaped layout with a large island, walk-in pantry, and abundant cabinetry for storage. Enjoy meals in the café or add an optional sunroom to enjoy natural light year-round. The great room offers plenty of space for gatherings, while the rear study provides a quiet workspace that can be converted into a guest suite with a full bath. Upstairs, four bedrooms, a second-floor laundry, and a spacious loft provide flexibility for family living. Choose the optional fifth bedroom in place of the loft for added space. The luxurious primary suite includes a walk-in closet and optional bath upgrades such as a tile shower or deluxe garden tub. Visit an Arbor Homes community today to learn how you can make The Palmetto your own.

Key facts

• Study
• Adjacent café
• Great room

Tags

• GREAT ROOM
• ADJACENT CAFÉ
• STUDY

🏗️ New construction. The $411,995 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $481,081.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $412k.

Deal economics

• At list price, monthly cash flow is $-864 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $356k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $312k (24.4% below list).
• Recommended offer: $312k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 4.1% 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: Monon Trail Elementary School (math 55% / reading 43%, grade D, #301 of 994 statewide, top 30%, 572 students, 29% FRL); Westfield Middle School (math 46% / reading 62%, grade B-, #31 of 330 statewide, top 9%, 1,429 students, 18% FRL); Westfield High School (math 61% / reading 85%, grade B+, #8 of 369 statewide, top 2%, 2,665 students, 18% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 809 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $3k of loan paydown is wiped out by about $14k 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

• It's been on market 575 days — a 12% lower offer ($363k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $311,509 (24.4% 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. It's been on market 575 days. Have you received any prior offers? Is the seller open to a 24% 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: 0.65% ✗
• Cap rate: 4.14%
• Cash-on-cash: -7.69%
• DSCR: 0.66
• GRM: 12.9

CMA / ARV

• ARV (median comp): $481,081
• List price: $411,995
• Delta: -14.36%
• 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
148 Cape May Dr	0.04mi	5/3.0 (+1)	2,580 (0%)	3mo	$476,424	$185	89
19909 Bay Line Cor	0.42mi	4/2.5	2,615 (+1%)	2mo	$456,000	$174	77
20056 Bay Line Cor	0.30mi	5/3.0 (+1)	2,648 (+3%)	3mo	$484,995	$183	72
20429 Atchison Way	0.28mi	3/2.5 (-1)	2,362 (-8%)	4mo	$488,500	$207	65
20010 Cowie Ln	0.39mi	3/3.0 (-1)	2,730 (+6%)	1mo	$511,500	$187	65
20361 Hudson Bay Ln	0.39mi	3/2.5 (-1)	2,395 (-7%)	4mo	$420,000	$175	61
20046 Rippling Rock Ct	0.27mi	3/3.0 (-1)	2,290 (-11%)	3mo	$600,000	$262	59
335 Ehrlich Ln	0.40mi	4/3.0	2,888 (+12%)	2mo	$460,000	$159	58
20105 Allegheny Ln	0.38mi	5/3.0 (+1)	2,839 (+10%)	2mo	$485,000	$171	57
494 Faudree Dr	0.33mi	3/3.0 (-1)	2,888 (+12%)	1mo	$493,000	$171	57
19788 Sutton Ter	0.55mi	4/3.0	2,888 (+12%)	2mo	$483,500	$167	51
19976 Stone Side Dr	0.33mi	5/4.0 (+1)	2,929 (+14%)	3mo	$614,900	$210	48

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: -28.4%
• Equity multiple: 0.04×
• Total profit: $-128,921
• Equity at exit: $71,731

10-year hold

• IRR: -23.3%
• Equity multiple: -0.23×
• Total profit: $-166,071
• Equity at exit: $41,595

Cash invested: $134,703 (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: 11.0×

Monthly cashflow live

• Estimated rent: $3,115 medium
• Mortgage (P&I): −$2,523
• Tax est. 1.5%: −$601 /mo · $7,216/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$654
• Net cashflow: $-864

Break-even live

Break-even rent $4,208

Max offer price $356,099

Occupancy floor —

Sensitivity live

Price	-10% $-531	-5% $-697	+0% $-864	+5% $-1,030	+10% $-1,196
Rent	-10% $-1,110	-5% $-987	+0% $-864	+5% $-741	+10% $-618
Rate	-1.0pp $-621	-0.5pp $-741	base $-864	+0.5pp $-988	+1.0pp $-1,115

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: $120,270
• Closing costs: $14,432
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19776 Baisley Trl Westfield, IN	3.0	3.0	2730	$3,500	$1.28	45d	1	0.59mi
19319 Winter Wheat Ln Westfield, IN	3.0	2.5	1858	$2,395	$1.29	25d	1	1.15mi

Listing history 26 events

1. 2026-06-21
   days on market $411,995 Active 575 DOM
2. 2026-06-18
   days on market $411,995 Active 572 DOM
3. 2026-06-17
   days on market $411,995 Active 571 DOM
4. 2026-06-16
   days on market $411,995 Active 570 DOM
5. 2026-06-15
   days on market $411,995 Active 569 DOM
6. 2026-06-13
   days on market $411,995 Active 567 DOM
7. 2026-06-13
   days on market $411,995 Active 566 DOM
8. 2026-06-09
   days on market $411,995 Active 563 DOM
9. 2026-06-08
   days on market $411,995 Active 562 DOM
10. 2026-06-07
    days on market $411,995 Active 561 DOM
11. 2026-06-05
    days on market $411,995 Active 558 DOM
12. 2026-06-03
    days on market $411,995 Active 557 DOM
13. 2026-06-02
    days on market $411,995 Active 556 DOM
14. 2026-06-01
    days on market $411,995 Active 555 DOM
15. 2026-05-31
    days on market $411,995 Active 554 DOM
16. 2025-10-16
    price $411,995 1311-char remark

    Show marketing remark (1311 chars)

    The Palmetto is one of Arbor Homes' newest and most flexible floorplans - offering everything you could want in a new construction home. With multiple elevation styles, optional basements, and the choice of a full front porch or breezeway, The Palmetto can easily be tailored to your lifestyle. Step inside to a spacious front living area that can serve as a formal dining room or quiet office with optional double doors. As you move through the home, you'll notice the open and inviting layout designed for both comfort and functionality. The chef-inspired kitchen features an L-shaped layout with a large island, walk-in pantry, and abundant cabinetry for storage. Enjoy meals in the café or add an optional sunroom to enjoy natural light year-round. The great room offers plenty of space for gatherings, while the rear study provides a quiet workspace that can be converted into a guest suite with a full bath. Upstairs, four bedrooms, a second-floor laundry, and a spacious loft provide flexibility for family living. Choose the optional fifth bedroom in place of the loft for added space. The luxurious primary suite includes a walk-in closet and optional bath upgrades such as a tile shower or deluxe garden tub. Visit an Arbor Homes community today to learn how you can make The Palmetto your own.

17. 2024-11-23
    listed $408,995 Active 1311-char remark

    Show marketing remark (1311 chars)

    The Palmetto is one of Arbor Homes' newest and most flexible floorplans - offering everything you could want in a new construction home. With multiple elevation styles, optional basements, and the choice of a full front porch or breezeway, The Palmetto can easily be tailored to your lifestyle. Step inside to a spacious front living area that can serve as a formal dining room or quiet office with optional double doors. As you move through the home, you'll notice the open and inviting layout designed for both comfort and functionality. The chef-inspired kitchen features an L-shaped layout with a large island, walk-in pantry, and abundant cabinetry for storage. Enjoy meals in the café or add an optional sunroom to enjoy natural light year-round. The great room offers plenty of space for gatherings, while the rear study provides a quiet workspace that can be converted into a guest suite with a full bath. Upstairs, four bedrooms, a second-floor laundry, and a spacious loft provide flexibility for family living. Choose the optional fifth bedroom in place of the loft for added space. The luxurious primary suite includes a walk-in closet and optional bath upgrades such as a tile shower or deluxe garden tub. Visit an Arbor Homes community today to learn how you can make The Palmetto your own.

18. 2024-10-17
    price $388,995 477-char remark

    Show marketing remark (477 chars)

    Experience The Palmetto: space and functionality in perfect harmony. A grand living area awaits your customization, while the kitchen dazzles with its L-shaped design, walk-in pantry, and expansive island. Entertain in the great room or enjoy family meals in the adjacent café. Retreat to the study for quiet moments. Upstairs, find four bedrooms, including a lavish primary suite. With options for a fifth bedroom or versatile loft, embrace modern living at its finest.

19. 2024-07-26
    price $385,995 477-char remark

    Show marketing remark (477 chars)

    Experience The Palmetto: space and functionality in perfect harmony. A grand living area awaits your customization, while the kitchen dazzles with its L-shaped design, walk-in pantry, and expansive island. Entertain in the great room or enjoy family meals in the adjacent café. Retreat to the study for quiet moments. Upstairs, find four bedrooms, including a lavish primary suite. With options for a fifth bedroom or versatile loft, embrace modern living at its finest.

20. 2024-06-05
    price $380,995 477-char remark

    Show marketing remark (477 chars)

    Experience The Palmetto: space and functionality in perfect harmony. A grand living area awaits your customization, while the kitchen dazzles with its L-shaped design, walk-in pantry, and expansive island. Entertain in the great room or enjoy family meals in the adjacent café. Retreat to the study for quiet moments. Upstairs, find four bedrooms, including a lavish primary suite. With options for a fifth bedroom or versatile loft, embrace modern living at its finest.

21. 2024-04-22
    price $375,995 477-char remark

    Show marketing remark (477 chars)

    Experience The Palmetto: space and functionality in perfect harmony. A grand living area awaits your customization, while the kitchen dazzles with its L-shaped design, walk-in pantry, and expansive island. Entertain in the great room or enjoy family meals in the adjacent café. Retreat to the study for quiet moments. Upstairs, find four bedrooms, including a lavish primary suite. With options for a fifth bedroom or versatile loft, embrace modern living at its finest.

22. 2024-04-17
    price $371,995 477-char remark

    Show marketing remark (477 chars)

    Experience The Palmetto: space and functionality in perfect harmony. A grand living area awaits your customization, while the kitchen dazzles with its L-shaped design, walk-in pantry, and expansive island. Entertain in the great room or enjoy family meals in the adjacent café. Retreat to the study for quiet moments. Upstairs, find four bedrooms, including a lavish primary suite. With options for a fifth bedroom or versatile loft, embrace modern living at its finest.

23. 2024-03-13
    price $367,995 477-char remark

    Show marketing remark (477 chars)

    Experience The Palmetto: space and functionality in perfect harmony. A grand living area awaits your customization, while the kitchen dazzles with its L-shaped design, walk-in pantry, and expansive island. Entertain in the great room or enjoy family meals in the adjacent café. Retreat to the study for quiet moments. Upstairs, find four bedrooms, including a lavish primary suite. With options for a fifth bedroom or versatile loft, embrace modern living at its finest.

24. 2024-03-04
    price $364,995 477-char remark

    Show marketing remark (477 chars)

    Experience The Palmetto: space and functionality in perfect harmony. A grand living area awaits your customization, while the kitchen dazzles with its L-shaped design, walk-in pantry, and expansive island. Entertain in the great room or enjoy family meals in the adjacent café. Retreat to the study for quiet moments. Upstairs, find four bedrooms, including a lavish primary suite. With options for a fifth bedroom or versatile loft, embrace modern living at its finest.

25. 2024-02-01
    price $351,995 477-char remark

    Show marketing remark (477 chars)

    Experience The Palmetto: space and functionality in perfect harmony. A grand living area awaits your customization, while the kitchen dazzles with its L-shaped design, walk-in pantry, and expansive island. Entertain in the great room or enjoy family meals in the adjacent café. Retreat to the study for quiet moments. Upstairs, find four bedrooms, including a lavish primary suite. With options for a fifth bedroom or versatile loft, embrace modern living at its finest.

26. 2024-02-01
    listed $347,995 Active 477-char remark

    Show marketing remark (477 chars)

    Experience The Palmetto: space and functionality in perfect harmony. A grand living area awaits your customization, while the kitchen dazzles with its L-shaped design, walk-in pantry, and expansive island. Entertain in the great room or enjoy family meals in the adjacent café. Retreat to the study for quiet moments. Upstairs, find four bedrooms, including a lavish primary suite. With options for a fifth bedroom or versatile loft, embrace modern living at its finest.

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $37,381
• − Mortgage interest: −$26,948
• − Property taxes: −$7,216
• − Insurance: −$2,405
• − Repairs & maintenance: −$2,990
• − Management: −$2,990
• − Depreciation: −$13,995
• Taxable loss: −$19,165
• Est. tax savings @ 24.0%: +$4,600
• After-tax cash flow: $-5,765/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

+18.4% since first listed

11 events — show timeline

• 2025-10-16 Price Changed $411,995 Zillow
• 2024-11-23 Listed $408,995 Zillow
• 2024-10-17 Price Changed $388,995 Zillow
• 2024-07-26 Price Changed $385,995 Zillow
• 2024-06-05 Price Changed $380,995 Zillow
• 2024-04-22 Price Changed $375,995 Zillow
• 2024-04-17 Price Changed $371,995 Zillow
• 2024-03-13 Price Changed $367,995 Zillow
• 2024-03-04 Price Changed $364,995 Zillow
• 2024-02-01 Price Changed $351,995 Zillow
• 2024-02-01 Listed $347,995 Zillow