1015 E Logan St · Brownsburg, IN 46112

$215,000

3 bd · 1.5 ba · 1,327 sqft · SingleFamily public records · 2 Days on market

Built 1960 0.34 ac lot $162/sqft · 23% below area Est $278k · 23% under

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Why this score? — see what drove the C 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 +14.5/30.0
• Schools +6.3/10.0
• 1% rule +4.5/10.0
• DSCR +4.4/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Stone Ranch in the Heart of Brownsburg - Fixer Upper with Tons of Potential! Located in a fantastic in-town neighborhood, this hidden gem offers just over 1,300 sq ft and endless possibilities for the right buyer. With a little TLC, this home can be transformed into something truly special-bring your vision and make it your own! This 3-bedroom, 1.5-bath ranch sits on a spacious oversized lot, perfect for outdoor living, gardening, or simply enjoying the peaceful setting. Take in the view from the screened-in porch-an ideal spot to relax and unwind. The property features both a large detached garage and a 2-car attached garage, offering plenty of space for storage, hobbies, or a workshop

Key facts

• Screened-in porch
• 0.34 acre lot
• 4 garage spots

Tags

• SPACIOUS OVERSIZED LOT
• SCREENED-IN PORCH
• LARGE DETACHED GARAGE
• 2-CAR ATTACHED GARAGE

Property features AI

Exterior

• Parking: Attached 4-car garage with garage door opener; Concrete parking; Service door to garage
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connected; 100 amp electric service; Cable available; Natural gas available
• Home design: Single-family residence; One level; North-facing; Property listed as fixer condition
• Construction: Vinyl siding with stone accents; Crawl space foundation
• Exterior features: Covered, screened porch/patio; Mature trees and small trees on the lot; Sidewalks and street lights; Suburban setting; Property has a view

Interior

• Kitchen: Oven
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom; One half bathroom; Primary bedroom includes a suite-style bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Breakfast bar; Living room (formal); Covered screened sun room
• Laundry & utility: Dedicated laundry room; Washer and dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $46 ($558/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (4.6% below list).
• Recommended offer: $205k (4.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.8% in Brownsburg — 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 75/100 on livability (#61 in IN, #4,105 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Brownsburg Community School Corporation (suburban): math 72% / reading 72% proficiency, ranked #2 of 301 in IN (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Reagan Elementary School (math 82% / reading 73%, grade A, #10 of 994 statewide, top 1%, 567 students, 37% FRL); Brownsburg High School (math 61% / reading 83%, grade B+, #12 of 369 statewide, top 4%, 3,177 students, 33% FRL) — zoned schools average 35% FRL vs 17% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.3%/yr); 328 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $205,110 (4.6% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.93%
• DSCR: 1.04
• GRM: 8.7

CMA / ARV

• ARV (median comp): $278,425
• List price: $215,000
• Delta: -22.78%
• 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
1015 E Logan St	0.00mi	3/1.5	1,327 (0%)	1mo	$225,000	$170	99
1042 E Logan St	0.12mi	3/1.5	1,381 (+4%)	1mo	$270,000	$196	86
652 E Tilden Dr	0.34mi	3/1.5	1,308 (-1%)	7mo	$260,000	$199	76
748 Maple Ln	0.31mi	3/1.0	1,323 (-0%)	9mo	$238,500	$180	76
20 Roselawn Ave	0.39mi	3/2.0	1,380 (+4%)	1mo	$316,000	$229	72
527 S Grant St	0.54mi	3/1.5	1,307 (-2%)	5mo	$256,000	$196	68
308 Maplebrook Dr	0.62mi	3/1.5	1,275 (-4%)	6mo	$234,000	$184	59
1329 Brownswood Dr	0.73mi	3/1.5	1,320 (-0%)	9mo	$246,700	$187	57
601 S Grant St	0.54mi	3/2.0	1,456 (+10%)	6mo	$279,900	$192	52
409 S Grant St	0.60mi	3/2.0	1,226 (-8%)	7mo	$261,000	$213	51
35 Robinwood Dr	0.44mi	3/2.0	1,516 (+14%)	4mo	$315,000	$208	51
270 Rapid Rill Ln	0.67mi	3/2.0	1,416 (+7%)	9mo	$235,999	$167	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 · 6.31% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.59×
• Total profit: $-24,737
• Equity at exit: $32,057

10-year hold

• IRR: 2.7%
• Equity multiple: 1.23×
• Total profit: $13,617
• Equity at exit: $18,589

Cash invested: $60,200 (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 46112

• Rents YoY: 6.3%
• Active inventory: 328
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,051 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$357 /mo · $4,282/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $46

Break-even live

Break-even rent $1,992

Max offer price $215,000

Occupancy floor 93%

Sensitivity live

Price	-10% $168	-5% $107	+0% $46	+5% $-14	+10% $-75
Rent	-10% $-116	-5% $-35	+0% $46	+5% $127	+10% $209
Rate	-1.0pp $155	-0.5pp $101	base $46	+0.5pp $-9	+1.0pp $-66

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 Parkwood Dr Brownsburg, IN	3.0	2.0	1422	$1,760	$1.24	18d	1	0.43mi
102 Murphy Ln Brownsburg, IN	3.0	1.5	1248	$1,775	$1.42	8d	1	0.92mi
457 Sable Chase Brownsburg, IN	3.0	2.0	1408	$2,185	$1.55	4d	1	0.92mi
5793 N Green St Brownsburg, IN	1.0–2.0	1.0–2.0	835	$1,678	$2.01	4d	7	1.29mi
7774 Bedford Ct Brownsburg, IN	2.0	1.5	1071	$1,865	$1.74	2d	4	1.32mi
7249 Arbuckle Cmns Brownsburg, IN	1.0–2.0	1.0–2.5	1548	$2,545	$1.64	2d	17	1.35mi
640 N Grant St Brownsburg, IN	2.0	2.0	1116	$1,550	$1.39	15d	1	1.44mi
711 Green Ridge Pkwy Brownsburg, IN	1.0–2.0	1.0–2.0	857	$1,529	$1.78	2d	3	1.47mi

Listing history 2 events

1. 2026-05-04
   status Pending 870-char remark
2. 2026-05-02
   listed $215,000 Active 870-char remark

ⓘ 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: $4,282 · $357/mo
• Projected year-2 tax: $4,282 · $357/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $24,613
• − Mortgage interest: −$12,043
• − Property taxes: −$4,282
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,969
• − Management: −$1,969
• − Depreciation: −$6,255
• Taxable loss: −$2,980
• Est. tax savings @ 24.0%: +$715
• After-tax cash flow: $1,273/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: Brownsburg Community School Corporation
• NCES district ID: 1801020
• Math proficiency: 72% ▼ -5.00%
• Reading proficiency: 72% ▼ -4.00%
• Median HH income: $75,304
• Composite: 63.45/100
• National rank: #616
• State rank: #2 of 301 in IN

Livability — Brownsburg

• Score: 75/100
• State rank: #61
• US rank: #4105

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brownsburg, IN
• County: Hendricks County · 143,373 people
• City population: 44,220
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 44,220
• Household income: $112,565
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 614.0

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 (83%)
• Race & ethnicity: White 83% Black 10% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Slovak 3% Iranian 2% Romanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 2% 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: ▼ -135.99%
• Current HPI: 217.3787
• Rent YoY: ▲ 6.31%
• 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

+4.7% since first listed

3 events — show timeline

• 2026-06-01 Sold (MLS) $225,000 MIBOR as Distributed by MLS Grid
• 2026-05-04 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-02 Listed $215,000 MIBOR as Distributed by MLS Grid

Property tax history

+10.7%/yr

Latest (2025): $4,282 · +6.2% YoY. Source: county tax records.