5928 Magnificent Ln · Brownsburg, IN 46234

$385,000

4 bd · 2.5 ba · 3,064 sqft · SingleFamily public records · 7 Days on market

Built 2003 8,712 sqft lot $126/sqft · at area comps Est $393k · at est. $50/mo HOA · 2% of rent

---

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 +8.4/15.0
• Cash flow +7.8/30.0
• Schools +6.3/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this very spacious 4- bedroom 2.5 bath. This home features a great floor plan with multiple spaces for entertaining. The large kitchen features has a generous eat in area and oversized pantry. Upstairs you will find a huge loft and four bedrooms, all with walk in closets. Heading back downstairs you'll find the formal dining room or front living room could easily be converted into an in-home office. This home is conveniently located close to I74 & Ronald Regan Expressway and is within the highly rated Brownsburg School District, as well as close to several shopping centers, restaurants, and parks. Schedule your appointment for your private tour today!

Key facts

• Large loft
• Fire pit
• Patio

Tags

• GUEST SUITE
• LARGE LOFT
• FIRE PIT
• PATIO
• SERENE OUTDOOR ESCAPE

Property features AI

Finance

• Other: Mandatory fee ownership interest
• HOA & community: Has HOA; Annual association fee of $600; HOA includes homeowners association insurance, park/playground, and snow removal; Covenants & restrictions

Exterior

• Parking: Attached 2-car garage (approx. 380 sq ft)
• Utilities: Public water; Municipal sewer connected; Solid waste service
• Home design: Single family residence; Two levels
• Construction: Vinyl with brick exterior; Slab foundation
• Exterior features: Lot under 1/4 acre (0.2 acre); Curbs; Sidewalks; Mature trees; No fence

Interior

• Kitchen: Dishwasher; Electric oven; Range hood; Refrigerator; Disposal; Gas water heater
• Bedrooms: Five bedrooms total (one on the main level, four on the upper level)
• Bathrooms: Three full bathrooms (one on the main level, two on the upper level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Pantry

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $385k.

Deal economics

• At list price, monthly cash flow is $-422 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $310k (19.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (32.1% below list).
• Recommended offer: $261k (32.1% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.8% in Brownsburg — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Brownsburg High School (math 61% / reading 83%, grade B+, #12 of 369 statewide, top 4%, 3,177 students, 33% FRL) — zoned schools average 33% FRL vs 17% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.6%/yr); 66 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 40% 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 38% of the median local income ($83k/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 $3k of loan paydown is wiped out by about $12k 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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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.
• Current owner paid $312k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $261,440 (32.1% 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: 0.68% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.70%
• DSCR: 0.79
• GRM: 12.3

CMA / ARV

• ARV (median comp): $392,519
• List price: $385,000
• Delta: -1.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5647 Grand Vista Dr	0.40mi	4/2.5	3,084 (+1%)	1mo	$405,000	$131	80
10155 Clear Creek Cir	0.22mi	3/2.5 (-1)	3,036 (-1%)	4mo	$340,000	$112	79
10104 North Trl	0.22mi	4/2.5	3,194 (+4%)	4mo	$370,000	$116	79
6431 Eastern Range Rd	0.45mi	3/2.5 (-1)	3,100 (+1%)	0mo	$355,000	$115	72
5834 Skyward Ln	0.27mi	4/2.5	3,334 (+9%)	4mo	$340,000	$102	70
10405 Splendor Way	0.23mi	4/3.5	3,474 (+13%)	3mo	$365,000	$105	60
10321 Haag Dr	0.73mi	3/2.5 (-1)	3,036 (-1%)	4mo	$285,000	$94	56
6541 Westland Dr	0.64mi	4/3.5	3,229 (+5%)	2mo	$404,500	$125	56
5640 Goodwin St	0.69mi	3/2.5 (-1)	3,216 (+5%)	1mo	$379,000	$118	54
5587 Goodwin St	0.72mi	5/2.5 (+1)	3,240 (+6%)	4mo	$400,000	$123	48
10242 E County Road 650 N	0.65mi	3/2.0 (-1)	3,347 (+9%)	4mo	$235,000	$70	44
6433 Lakeland Blvd	0.71mi	4/2.5	2,632 (-14%)	1mo	$314,999	$120	43

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 · 7.56% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.29×
• Total profit: $-76,786
• Equity at exit: $57,405

10-year hold

• IRR: -5.5%
• Equity multiple: 0.58×
• Total profit: $-45,172
• Equity at exit: $33,288

Cash invested: $107,800 (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 46234

• Home prices YoY: -33.0%
• Rents YoY: 7.6%
• Active inventory: 66
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,614 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$258 /mo · $3,096/yr
• Insurance: −$160
• HOA: −$50
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $-422

Break-even live

Break-even rent $3,149

Max offer price $310,448

Occupancy floor —

Sensitivity live

Price	-10% $-204	-5% $-313	+0% $-422	+5% $-531	+10% $-640
Rent	-10% $-629	-5% $-525	+0% $-422	+5% $-319	+10% $-215
Rate	-1.0pp $-228	-0.5pp $-324	base $-422	+0.5pp $-522	+1.0pp $-623

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10393 Windward Dr Indianapolis, IN	4.0	3.0	3064	$2,475	$0.81	9d	1	0.27mi
6367 Eastern Range Rd Indianapolis, IN	4.0	2.5	3272	$2,536	$0.78	45d	1	0.35mi
6318 Cascade Cir Indianapolis, IN	3.0	3.0	2650	$1,956	$0.74	45d	1	0.37mi
10400 Hickory Hill Dr Indianapolis, IN	4.0	2.5	2842	$2,250	$0.79	9d	1	0.41mi
10019 Olympic Cir Indianapolis, IN	4.0	2.5	3211	$2,551	$0.79	9d	1	0.47mi

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 13 events

1. 2026-05-13
   status Pending 816-char remark
2. 2026-05-06
   listed $385,000 Active 816-char remark
3. 2023-01-06
   soldstatus $312,000 Closed 680-char remark

   Show marketing remark (680 chars)

   Welcome home to this very spacious 4- bedroom 2.5 bath. This home features a great floor plan with multiple spaces for entertaining. The large kitchen features has a generous eat in area and oversized pantry. Upstairs you will find a huge loft and four bedrooms, all with walk in closets. Heading back downstairs you'll find the formal dining room or front living room could easily be converted into an in-home office. This home is conveniently located close to I74 & Ronald Regan Expressway and is within the highly rated Brownsburg School District, as well as close to several shopping centers, restaurants, and parks. Schedule your appointment for your private tour today!

4. 2022-12-06
   status Pending 680-char remark

   Show marketing remark (680 chars)

   Welcome home to this very spacious 4- bedroom 2.5 bath. This home features a great floor plan with multiple spaces for entertaining. The large kitchen features has a generous eat in area and oversized pantry. Upstairs you will find a huge loft and four bedrooms, all with walk in closets. Heading back downstairs you'll find the formal dining room or front living room could easily be converted into an in-home office. This home is conveniently located close to I74 & Ronald Regan Expressway and is within the highly rated Brownsburg School District, as well as close to several shopping centers, restaurants, and parks. Schedule your appointment for your private tour today!

5. 2022-11-29
   price $320,000 680-char remark

   Show marketing remark (680 chars)

   Welcome home to this very spacious 4- bedroom 2.5 bath. This home features a great floor plan with multiple spaces for entertaining. The large kitchen features has a generous eat in area and oversized pantry. Upstairs you will find a huge loft and four bedrooms, all with walk in closets. Heading back downstairs you'll find the formal dining room or front living room could easily be converted into an in-home office. This home is conveniently located close to I74 & Ronald Regan Expressway and is within the highly rated Brownsburg School District, as well as close to several shopping centers, restaurants, and parks. Schedule your appointment for your private tour today!

6. 2022-11-28
   price $335,000 680-char remark

   Show marketing remark (680 chars)

   Welcome home to this very spacious 4- bedroom 2.5 bath. This home features a great floor plan with multiple spaces for entertaining. The large kitchen features has a generous eat in area and oversized pantry. Upstairs you will find a huge loft and four bedrooms, all with walk in closets. Heading back downstairs you'll find the formal dining room or front living room could easily be converted into an in-home office. This home is conveniently located close to I74 & Ronald Regan Expressway and is within the highly rated Brownsburg School District, as well as close to several shopping centers, restaurants, and parks. Schedule your appointment for your private tour today!

7. 2022-11-28
   price $320,000 680-char remark

   Show marketing remark (680 chars)

   Welcome home to this very spacious 4- bedroom 2.5 bath. This home features a great floor plan with multiple spaces for entertaining. The large kitchen features has a generous eat in area and oversized pantry. Upstairs you will find a huge loft and four bedrooms, all with walk in closets. Heading back downstairs you'll find the formal dining room or front living room could easily be converted into an in-home office. This home is conveniently located close to I74 & Ronald Regan Expressway and is within the highly rated Brownsburg School District, as well as close to several shopping centers, restaurants, and parks. Schedule your appointment for your private tour today!

8. 2022-10-21
   listed $335,000 Active 680-char remark

   Show marketing remark (680 chars)

   Welcome home to this very spacious 4- bedroom 2.5 bath. This home features a great floor plan with multiple spaces for entertaining. The large kitchen features has a generous eat in area and oversized pantry. Upstairs you will find a huge loft and four bedrooms, all with walk in closets. Heading back downstairs you'll find the formal dining room or front living room could easily be converted into an in-home office. This home is conveniently located close to I74 & Ronald Regan Expressway and is within the highly rated Brownsburg School District, as well as close to several shopping centers, restaurants, and parks. Schedule your appointment for your private tour today!

9. 2009-03-13
   historical

   Show marketing remark (365 chars)

   Enjoy the great big eat-in kitchen which opens to a spacious family room. Work in the office or relax in the reading room while the kids play upstair s in the large bonus room. The master retreat has a long walk-in closet, dual sinks, and a huge garden tub. Nature trails, clubhouse, pool and a great school system make this home an ideal place to raise a family.

10. 2008-10-31
    soldstatus $140,000

    Show marketing remark (365 chars)

    Enjoy the great big eat-in kitchen which opens to a spacious family room. Work in the office or relax in the reading room while the kids play upstair s in the large bonus room. The master retreat has a long walk-in closet, dual sinks, and a huge garden tub. Nature trails, clubhouse, pool and a great school system make this home an ideal place to raise a family.

11. 2008-07-14
    listed $136,900

    Show marketing remark (365 chars)

    Enjoy the great big eat-in kitchen which opens to a spacious family room. Work in the office or relax in the reading room while the kids play upstair s in the large bonus room. The master retreat has a long walk-in closet, dual sinks, and a huge garden tub. Nature trails, clubhouse, pool and a great school system make this home an ideal place to raise a family.

12. 2007-06-20
    soldstatus $164,900
13. 2007-03-02
    listed $164,900

ⓘ 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: $3,096 · $258/mo
• Projected year-2 tax: $3,184 · $265/mo
• Expected delta: +$88/yr (+$7/mo · 2.9%)

ⓘ 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 ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,373
• − Mortgage interest: −$21,566
• − Property taxes: −$3,096
• − Insurance: −$1,925
• − Repairs & maintenance: −$2,510
• − Management: −$2,510
• − HOA: −$600
• − Depreciation: −$11,200
• Taxable loss: −$12,034
• Est. tax savings @ 24.0%: +$2,888
• After-tax cash flow: $-2,176/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

• County: Marion County · 998,460 people
• City population: 44,220
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 28,300
• Household income: $83,190
• Rent vs Own: 23.5% rent · 76.5% own
• Severe rent burden: 764.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Black 19% Hispanic / Latino 10% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 2% Romanian 2% Iranian 2%
• Foreign-born: 11% · Canada, China, United Kingdom
• Languages at home: 82% English-only · Spanish 8% Other Indo-European 3% French/Haitian/Cajun 3%

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: ▼ -106.23%
• Current HPI: 215.5854
• Rent YoY: ▲ 7.56%
• 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

+133.5% since first listed

13 events — show timeline

• 2026-05-13 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-06 Listed $385,000 MIBOR as Distributed by MLS Grid
• 2023-01-06 Sold (MLS) $312,000 MIBOR as Distributed by MLS Grid
• 2022-12-06 Pending — MIBOR as Distributed by MLS Grid
• 2022-11-29 Price Changed $320,000 MIBOR as Distributed by MLS Grid
• 2022-11-28 Price Changed $335,000 MIBOR as Distributed by MLS Grid
• 2022-11-28 Price Changed $320,000 MIBOR as Distributed by MLS Grid
• 2022-10-21 Listed $335,000 MIBOR as Distributed by MLS Grid
• 2009-03-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-10-31 Sold (MLS) $140,000 MIBOR as Distributed by MLS Grid
• 2008-07-14 Listed $136,900 MIBOR as Distributed by MLS Grid
• 2007-06-20 Sold (MLS) $164,900 MIBOR as Distributed by MLS Grid
• 2007-03-02 Listed $164,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2025): $3,096 · +115.0% YoY. Source: county tax records.