5321 Tanglewood Ln · Whitestown, IN 46075

$339,100

3 bd · 2.0 ba · 1,618 sqft · SingleFamily public records · 10 Days on market

Built 2019 5,227 sqft lot Est $304k · 11% over $29/mo HOA · 1% of rent

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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).

• Cash flow +12.4/30.0
• DSCR +3.7/10.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• 1% rule +3.1/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +2.3/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Updated 3BR Ranch in sought after Edmunds Creek.

Key facts

• Formal dining room
• Walk-in closet
• Flex space

Tags

• WALK-IN CLOSET
• WATER VIEW
• FORMAL DINING ROOM
• FLEX SPACE

Property features AI

Finance

• HOA & community: Homeowners association with annual fee of $350; HOA covers entrance common areas, insurance, maintenance; subject to covenants and restrictions

Exterior

• Parking: Attached garage; 2-car garage with garage door opener
• Utilities: Public water; Municipal sewer connected; 200+ amp electric service; Cable connected; Electricity connected; Natural gas connected; Water and sewer connected
• Home design: Single-family home; One story; Mandatory fee ownership
• Construction: Vinyl siding with brick exterior; Slab foundation
• Exterior features: Patio; Sidewalks; Small trees (under 20 ft); Has a view; No fence

Interior

• Kitchen: Dishwasher; Disposal; Electric oven; Microwave with hood
• Bedrooms: 3 bedrooms on the main level; Primary bedroom with walk-in closet
• Bathrooms: 2 full bathrooms; Primary bathroom with double sinks and full tub/shower
• Heating & cooling: High-efficiency natural gas heating (90%+ AFUE); Central air conditioning
• Interior features: High ceilings; Kitchen island; Laundry in unit
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $339k.

Deal economics

• At list price, monthly cash flow is $-57 ($-679/yr) — negative.
• To cash-flow at today's rent, offer at most $329k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (19.3% below list).
• Recommended offer: $274k (19.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.3% in Whitestown — 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 73/100 on livability (#109 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living 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.
• Zoned schools: Perry Worth Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 430 students, 30% FRL); Lebanon Senior High School (math 43% / reading 68%, grade C, #75 of 369 statewide, top 20%, 1,027 students, 38% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: Rents flat; 270 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 14d 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 $2k of loan paydown is wiped out by about $10k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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 $273,505 (19.3% 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: 0.81% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.72%
• DSCR: 0.97
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $304,184
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5154 Bramwell Ln	0.26mi	3/2.0	1,618 (0%)	12mo	$278,000	$172	78
5301 Tanglewood Ln	0.02mi	3/2.0	1,804 (+12%)	10mo	$354,900	$197	71
5278 Bramwell Ln	0.21mi	3/2.0	1,804 (+12%)	5mo	$325,000	$180	67
5409 Brandywine Dr	0.10mi	3/2.0	1,804 (+12%)	11mo	$330,000	$183	67
5224 Bramwell Ln	0.22mi	3/2.0	1,804 (+12%)	7mo	$339,900	$188	65
5465 Tanglewood Ln	0.14mi	3/2.0	1,804 (+12%)	12mo	$339,900	$188	64
5251 Brandywine Dr	0.09mi	3/2.0	1,804 (+12%)	20mo	$339,000	$188	60
5401 Tanglewood Ln	0.08mi	3/2.0	1,804 (+12%)	23mo	$339,900	$188	58
5380 Tanglewood Ln	0.07mi	3/2.0	1,804 (+12%)	24mo	$315,000	$175	58
6195 Andrews Way	0.67mi	3/2.5	1,810 (+12%)	2mo	$368,000	$203	45
6225 Andrews Way	0.69mi	3/2.5	1,720 (+6%)	24mo	$355,000	$206	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: -19.9%
• Equity multiple: 0.32×
• Total profit: $-64,594
• Equity at exit: $50,561

10-year hold

• IRR: -18.1%
• Equity multiple: 0.11×
• Total profit: $-84,594
• Equity at exit: $29,319

Cash invested: $94,948 (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: 270
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,735 high
• Mortgage (P&I): −$1,778
• Tax from tax record: −$269 /mo · $3,225/yr
• Insurance: −$141
• HOA: −$29
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $-57

Break-even live

Break-even rent $2,807

Max offer price $329,100

Occupancy floor 97%

Sensitivity live

Price	-10% $135	-5% $39	+0% $-57	+5% $-153	+10% $-249
Rent	-10% $-273	-5% $-165	+0% $-57	+5% $51	+10% $159
Rate	-1.0pp $114	-0.5pp $30	base $-57	+0.5pp $-144	+1.0pp $-234

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: $84,775
• Closing costs: $10,173
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5828 New Hope Blvd Unit 1228579P Whitestown, IN	2.0	2.0	1194	$2,874	$2.41	3d	1	0.36mi
5887 Aldridge Dr Whitestown, IN	4.0	2.0	1853	$2,631	$1.42	3d	1	0.47mi
5825 Sunset Way Unit 1228653P Whitestown, IN	2.0	2.0	1076	$2,610	$2.43	16d	1	0.49mi
5842 Leisure Ln Unit 1058533P Whitestown, IN	2.0	2.0	1097	$7,123	$6.49	13d	1	0.54mi
5842 Leisure Ln Unit 1058531P Whitestown, IN	2.0	2.0	1097	$2,460	$2.24	17d	1	0.54mi
5842 Leisure Ln Unit 1058525P Whitestown, IN	2.0	2.0	1097	$3,238	$2.95	8d	1	0.54mi
5861 Royal Ln Unit 1058526P Whitestown, IN	2.0	2.0	1097	$3,217	$2.93	3d	1	0.56mi
5861 Royal Ln Unit 1058532P Whitestown, IN	2.0	2.0	1097	$3,974	$3.62	45d	1	0.56mi
5813 Lilliana LN Whitestown, IN	1.0–3.0	1.0–2.0	1102	$2,275	$2.06	3d	8	0.56mi
5890 Royal Ln Unit 1058530P Whitestown, IN	2.0	2.0	1097	$2,413	$2.20	13d	1	0.61mi
6305 Schooler Dr Whitestown, IN	2.0	2.5	1960	$2,095	$1.07	25d	1	0.78mi
6316 Central Blvd Whitestown, IN	2.0	2.5	1960	$2,095	$1.07	45d	1	0.82mi
6258 Colonial Dr Whitestown, IN	3.0	2.5	1900	$2,150	$1.13	45d	1	1.22mi
3825 Gray Heather Ln Whitestown, IN	3.0	2.5	1992	$1,976	$0.99	8d	1	1.39mi
3835 Dusty Sands Rd Whitestown, IN	3.0	2.0	1240	$2,195	$1.77	25d	1	1.41mi
3823 Indigo Blue Blvd Whitestown, IN	3.0	2.5	1992	$1,941	$0.97	13d	1	1.41mi

HOA detail

• Monthly dues: $29 · $348/yr

Listing history 7 events

1. 2026-06-21
   days on market $339,100 Active 10 DOM
2. 2026-06-18
   days on market $339,100 Active 7 DOM
3. 2026-06-17
   days on market $339,100 Active 6 DOM
4. 2026-06-16
   days on market $339,100 Active 5 DOM
5. 2026-06-15
   days on market $339,100 Active 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $339,100 Active 2 DOM

ⓘ 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: $3,225 · $269/mo
• Projected year-2 tax: $3,225 · $269/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 · 18 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: $32,821
• − Mortgage interest: −$18,995
• − Property taxes: −$3,225
• − Insurance: −$1,696
• − Repairs & maintenance: −$2,626
• − Management: −$2,626
• − HOA: −$348
• − Depreciation: −$9,865
• Taxable loss: −$6,559
• Est. tax savings @ 24.0%: +$1,574
• After-tax cash flow: $895/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

+552.1% since first listed

12 events — show timeline

• 2026-06-10 Listed $339,100 MIBOR as Distributed by MLS Grid
• 2022-04-29 Sold (MLS) $295,000 MIBOR as Distributed by MLS Grid
• 2022-04-02 Listed $295,000 MIBOR as Distributed by MLS Grid
• 2022-04-02 Listing Removed — MIBOR as Distributed by MLS Grid
• 2020-10-23 Sold (MLS) $241,000 MIBOR as Distributed by MLS Grid
• 2020-09-18 Pending — MIBOR as Distributed by MLS Grid
• 2020-08-28 Price Changed $247,500 MIBOR as Distributed by MLS Grid
• 2020-08-13 Listed $250,000 MIBOR as Distributed by MLS Grid
• 2019-08-02 Sold (MLS) $221,918 MIBOR as Distributed by MLS Grid
• 2019-08-01 Listed $221,918 MIBOR as Distributed by MLS Grid
• 2019-08-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2018-07-02 Sold (Public Records) $52,000 Public Records

Property tax history

+62.0%/yr

Latest (2025): $3,225 · -5.9% YoY. Source: county tax records.