Grand Cayman Plan · Whitestown, IN 46075

$299,990

3 bd · 2.0 ba · 1,533 sqft · SingleFamily · 149 Days on market

↓ 5% since listing

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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 +6.6/30.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Jackson Run Ranches, the lowest-priced low-maintenance ranch homes with optional basements and resort-like amenities. You want to live a casual easy life, in a big way. You'd rather travel and enjoy an active lifestyle than serve a four course meal in your formal dining room. The Grand Cayman is the ideal home for your casual well-lived lifestyle. The open airy space combines the kitchen, dining area and great room to create a casual comfortable flow. This is the perfect place to do all your entertaining with plenty of room for your favorite overstuffed couch. Throw a Superbowl party that will be the envy of the neighborhood. For a relaxing night in, it's your home theater. Since it's open to the kitchen, grab a snack or make dinner, you won't miss your favorite TV show. The Grand Cayman is the perfect home if you enjoy life's simple pleasures. Schedule a visit today!

Key facts

• Home theater
• Available basements
• Open airy space

Tags

• LOW-MAINTENANCE RANCH HOMES
• AVAILABLE BASEMENTS
• OPEN AIRY SPACE
• KITCHEN DINING AREA GREAT ROOM
• HOME THEATER

🏗️ New construction. The $299,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $354,180.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-581 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $270k (10.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (21.2% below list).
• Recommended offer: $236k (21.2% 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+, 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 Middle School (math 35% / reading 40%, grade F, #146 of 330 statewide, top 46%, 807 students, 46% 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 38% FRL track the district average.
• Market conditions: Rents flat; 270 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $11k 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 149 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $236,291 (21.2% 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 149 days. Have you received any prior offers? Is the seller open to a 21% 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: 0.67% ✗
• Cap rate: 4.32%
• Cash-on-cash: -7.03%
• DSCR: 0.69
• GRM: 12.5

CMA / ARV

• ARV (median comp): $354,180
• List price: $299,990
• Delta: -15.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2201 Stony Creek Dr	0.11mi	3/2.0	1,533 (0%)	4mo	$325,000	$212	92
2204 Wonder Crk Dr	0.06mi	3/2.0	1,528 (-0%)	20mo	$339,590	$222	80
2210 Walnut Frk Dr	0.22mi	3/2.0	1,533 (0%)	16mo	$332,595	$217	77
2410 Stoneycreek Dr	0.28mi	3/2.0	1,580 (+3%)	13mo	$343,000	$217	71
2276 Wonder Crk	0.15mi	3/2.0	1,694 (+10%)	7mo	$333,115	$197	69
6875 Orchard Run Cir	0.30mi	3/2.0	1,676 (+9%)	4mo	$320,000	$191	67
2234 Walnut Fork Dr	0.21mi	3/2.0	1,696 (+11%)	6mo	$350,000	$206	67
7167 Finley Creek Dr	0.11mi	4/2.5 (+1)	1,680 (+10%)	11mo	$334,990	$199	63
2146 Walnut Fork Dr	0.06mi	3/2.0	1,694 (+10%)	24mo	$331,010	$195	60
6872 Orchard Run Cir	0.30mi	3/2.0	1,673 (+9%)	20mo	$340,000	$203	54

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: -31.0%
• Equity multiple: -0.00×
• Total profit: $-99,545
• Equity at exit: $52,809

10-year hold

• IRR: -47.9%
• Equity multiple: -0.56×
• Total profit: $-154,534
• Equity at exit: $30,623

Cash invested: $99,170 (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: 10.6×

Monthly cashflow live

• Estimated rent: $2,363 high
• Mortgage (P&I): −$1,857
• Tax est. 1.5%: −$443 /mo · $5,313/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $-581

Break-even live

Break-even rent $3,098

Max offer price $270,114

Occupancy floor —

Sensitivity live

Price	-10% $-336	-5% $-459	+0% $-581	+5% $-703	+10% $-826
Rent	-10% $-768	-5% $-674	+0% $-581	+5% $-488	+10% $-394
Rate	-1.0pp $-403	-0.5pp $-491	base $-581	+0.5pp $-673	+1.0pp $-766

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: $88,545
• Closing costs: $10,625
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6831 Orchard Run Cir Whitestown, IN	4.0	2.5	2131	$2,350	$1.10	0d	1	0.37mi
2881 Cross Branch Dr Whitestown, IN	3.0–4.0	2.5	1835	$2,199	$1.20	21d	4	0.77mi
2557 Lamar Dr Whitestown, IN	4.0	2.5	1981	$2,199	$1.11	46d	1	0.84mi
2606 Plano Dr Unit NA Whitestown, IN	4.0	3.0	2119	$2,600	$1.23	0d	1	0.84mi
6389 Wasco Dr Whitestown, IN	3.0	2.5	1802	$2,150	$1.19	6d	1	1.01mi
6296 Granby Dr Whitestown, IN	3.0	2.5	1550	$2,200	$1.42	0d	1	1.02mi

Listing history 9 events

1. 2026-06-07
   days on market $299,990 Active 149 DOM
2. 2026-06-03
   days on market $299,990 Active 145 DOM
3. 2026-06-02
   days on market $299,990 Active 144 DOM
4. 2026-06-01
   days on market $299,990 Active 143 DOM
5. 2026-05-31
   days on market $299,990 Active 142 DOM
6. 2026-04-23
   price $299,990 891-char remark

   Show marketing remark (891 chars)

   Welcome to Jackson Run Ranches, the lowest-priced low-maintenance ranch homes with optional basements and resort-like amenities. You want to live a casual easy life, in a big way. You'd rather travel and enjoy an active lifestyle than serve a four course meal in your formal dining room. The Grand Cayman is the ideal home for your casual well-lived lifestyle. The open airy space combines the kitchen, dining area and great room to create a casual comfortable flow. This is the perfect place to do all your entertaining with plenty of room for your favorite overstuffed couch. Throw a Superbowl party that will be the envy of the neighborhood. For a relaxing night in, it's your home theater. Since it's open to the kitchen, grab a snack or make dinner, you won't miss your favorite TV show. The Grand Cayman is the perfect home if you enjoy life's simple pleasures. Schedule a visit today!

7. 2026-04-07
   status Active 891-char remark

   Show marketing remark (891 chars)

   Welcome to Jackson Run Ranches, the lowest-priced low-maintenance ranch homes with optional basements and resort-like amenities. You want to live a casual easy life, in a big way. You'd rather travel and enjoy an active lifestyle than serve a four course meal in your formal dining room. The Grand Cayman is the ideal home for your casual well-lived lifestyle. The open airy space combines the kitchen, dining area and great room to create a casual comfortable flow. This is the perfect place to do all your entertaining with plenty of room for your favorite overstuffed couch. Throw a Superbowl party that will be the envy of the neighborhood. For a relaxing night in, it's your home theater. Since it's open to the kitchen, grab a snack or make dinner, you won't miss your favorite TV show. The Grand Cayman is the perfect home if you enjoy life's simple pleasures. Schedule a visit today!

8. 2026-03-10
   historical 891-char remark

   Show marketing remark (891 chars)

   Welcome to Jackson Run Ranches, the lowest-priced low-maintenance ranch homes with optional basements and resort-like amenities. You want to live a casual easy life, in a big way. You'd rather travel and enjoy an active lifestyle than serve a four course meal in your formal dining room. The Grand Cayman is the ideal home for your casual well-lived lifestyle. The open airy space combines the kitchen, dining area and great room to create a casual comfortable flow. This is the perfect place to do all your entertaining with plenty of room for your favorite overstuffed couch. Throw a Superbowl party that will be the envy of the neighborhood. For a relaxing night in, it's your home theater. Since it's open to the kitchen, grab a snack or make dinner, you won't miss your favorite TV show. The Grand Cayman is the perfect home if you enjoy life's simple pleasures. Schedule a visit today!

9. 2025-12-12
   listed $315,990 Active 891-char remark

   Show marketing remark (891 chars)

   Welcome to Jackson Run Ranches, the lowest-priced low-maintenance ranch homes with optional basements and resort-like amenities. You want to live a casual easy life, in a big way. You'd rather travel and enjoy an active lifestyle than serve a four course meal in your formal dining room. The Grand Cayman is the ideal home for your casual well-lived lifestyle. The open airy space combines the kitchen, dining area and great room to create a casual comfortable flow. This is the perfect place to do all your entertaining with plenty of room for your favorite overstuffed couch. Throw a Superbowl party that will be the envy of the neighborhood. For a relaxing night in, it's your home theater. Since it's open to the kitchen, grab a snack or make dinner, you won't miss your favorite TV show. The Grand Cayman is the perfect home if you enjoy life's simple pleasures. Schedule a visit today!

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

Taxation est. · year 1

• Rental income: $28,355
• − Mortgage interest: −$19,840
• − Property taxes: −$5,313
• − Insurance: −$1,771
• − Repairs & maintenance: −$2,268
• − Management: −$2,268
• − Depreciation: −$10,303
• Taxable loss: −$13,408
• Est. tax savings @ 24.0%: +$3,218
• After-tax cash flow: $-3,753/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

-5.1% since first listed

4 events — show timeline

• 2026-04-23 Price Changed $299,990 Zillow
• 2026-04-07 Relisted — Zillow
• 2026-03-10 Delisted — Zillow
• 2025-12-12 Listed $315,990 Zillow