3632 Wetherby Pl · Danville, IN 46122

$333,900

4 bd · 2.5 ba · 2,055 sqft · SingleFamily public records · 52 Days on market

Built 2023 7,971 sqft lot $162/sqft · 6% below area Est $354k · 6% under $70/mo HOA · 3% 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 +10.1/15.0
• Cash flow +9.5/30.0
• Schools +4.8/10.0
• Livability +3.2/5.0
• DSCR +2.7/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This almost-new home is ideal for today's buyer looking for move-in-ready quality without the wait of new construction. Step inside to find a bright, open layout designed for both everyday living and entertaining. The home feels fresh and well-cared-for throughout, giving you that "like new" experience from the moment you walk in. There are four generously sized bedrooms and an additional loft space. Outside, you will notice fresh landscaping, lush grass, and an amazing curb appeal. Out back, enjoy a fully fenced backyard-perfect for pets, play, or relaxing evenings outdoors. Located in a desirable Danville neighborhood, you'll also have access to community amenities that enhance your lifestyle-think walking paths, community pool. Easy commute to downtown Indianapolis (18 miles).

Key facts

• 7,971 sq ft lot
• 2 garage spots
• Built 2023

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $334k.

Deal economics

• At list price, monthly cash flow is $-232 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $293k (12.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (24.9% below list).
• Recommended offer: $251k (24.9% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.1% in Danville — 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 65/100 on livability (#325 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Danville Community School Corporation (suburban): math 52% / reading 57% proficiency, ranked #27 of 301 in IN (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 196 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).
• This rent runs 30% of the median local income ($100k/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 $2k of loan paydown is wiped out by about $10k 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

• It's been on market 52 days — a 3% lower offer ($324k) is reasonable based on typical stale-listing flexibility.

Recommended offer $250,790 (24.9% 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 52 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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: 0.75% ✗
• Cap rate: 5.46%
• Cash-on-cash: -2.98%
• DSCR: 0.87
• GRM: 11.1

CMA / ARV

• ARV (median comp): $354,006
• List price: $333,900
• Delta: -5.68%
• 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
3672 Wetherby Pl	0.04mi	4/2.5	2,024 (-2%)	2mo	$330,000	$163	94
3651 Wetherby Pl	0.04mi	4/2.5	2,011 (-2%)	3mo	$323,000	$161	92
796 Scarsdale Ln	0.18mi	4/2.5	2,056 (0%)	2mo	$335,000	$163	90
735 Locust Dr	0.10mi	4/2.5	2,044 (-0%)	13mo	$329,000	$161	84
3576 Cosmic Ct	0.27mi	5/3.5 (+1)	2,054 (-0%)	4mo	$375,000	$183	75
743 Penrose Cir	0.23mi	4/2.5	2,006 (-2%)	13mo	$325,000	$162	75
3419 Glasgow Pl	0.32mi	4/2.5	1,990 (-3%)	9mo	$331,000	$166	72
3068 E Thorpe St	0.34mi	4/2.5	1,900 (-8%)	2mo	$326,000	$172	69
197 N Fairfield Dr	0.44mi	4/2.5	1,900 (-8%)	1mo	$308,000	$162	66
112 N Fairfield Dr	0.51mi	4/2.5	2,200 (+7%)	9mo	$319,000	$145	57
3865 Kensington Dr	0.43mi	3/3.0 (-1)	2,225 (+8%)	13mo	$390,000	$175	49
1122 N County Road 425 E	0.71mi	3/2.0 (-1)	1,885 (-8%)	9mo	$380,000	$202	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -21.3%
• Equity multiple: 0.26×
• Total profit: $-68,911
• Equity at exit: $49,786

10-year hold

• IRR: -14.8%
• Equity multiple: 0.15×
• Total profit: $-79,126
• Equity at exit: $28,870

Cash invested: $93,492 (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 46122

• Home prices YoY: -32.1%
• Active inventory: 196
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,508 medium
• Mortgage (P&I): −$1,751
• Tax from tax record: −$253 /mo · $3,039/yr
• Insurance: −$139
• HOA: −$70
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $-232

Break-even live

Break-even rent $2,802

Max offer price $292,891

Occupancy floor —

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: $83,475
• Closing costs: $10,017
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
204 Myers Rd Danville, IN	3.0	2.0	1627	$1,889	$1.16	44d	1	0.73mi
2068 Quail West Dr Danville, IN	5.0	3.0	2850	$2,395	$0.84	18d	1	1.38mi

HOA detail

• Monthly dues: $70 · $840/yr
• Likely covers: landscapingpool

Listing history 8 events

1. 2026-06-08
   statusdays on market $333,900 Pending 52 DOM
2. 2026-06-07
   days on market $333,900 Active 51 DOM
3. 2026-06-03
   days on market $333,900 Active 47 DOM
4. 2026-06-02
   days on market $333,900 Active 46 DOM
5. 2026-06-01
   days on market $333,900 Active 45 DOM
6. 2026-05-31
   days on market $333,900 Active 44 DOM
7. 2026-05-13
   price $333,900 802-char remark

   Show marketing remark (802 chars)

   This almost-new home is ideal for today's buyer looking for move-in-ready quality without the wait of new construction. Step inside to find a bright, open layout designed for both everyday living and entertaining. The home feels fresh and well-cared-for throughout, giving you that "like new" experience from the moment you walk in. There are four generously sized bedrooms and an additional loft space. Outside, you will notice fresh landscaping, lush grass, and an amazing curb appeal. Out back, enjoy a fully fenced backyard-perfect for pets, play, or relaxing evenings outdoors. Located in a desirable Danville neighborhood, you'll also have access to community amenities that enhance your lifestyle-think walking paths, community pool. Easy commute to downtown Indianapolis (18 miles).

8. 2026-04-17
   listed $334,900 Active 802-char remark

   Show marketing remark (802 chars)

   This almost-new home is ideal for today's buyer looking for move-in-ready quality without the wait of new construction. Step inside to find a bright, open layout designed for both everyday living and entertaining. The home feels fresh and well-cared-for throughout, giving you that "like new" experience from the moment you walk in. There are four generously sized bedrooms and an additional loft space. Outside, you will notice fresh landscaping, lush grass, and an amazing curb appeal. Out back, enjoy a fully fenced backyard-perfect for pets, play, or relaxing evenings outdoors. Located in a desirable Danville neighborhood, you'll also have access to community amenities that enhance your lifestyle-think walking paths, community pool. Easy commute to downtown Indianapolis (18 miles).

ⓘ 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: $3,039 · $253/mo
• Projected year-2 tax: $3,039 · $253/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $30,095
• − Mortgage interest: −$18,704
• − Property taxes: −$3,039
• − Insurance: −$1,670
• − Repairs & maintenance: −$2,408
• − Management: −$2,408
• − HOA: −$840
• − Depreciation: −$9,713
• Taxable loss: −$8,686
• Est. tax savings @ 24.0%: +$2,085
• After-tax cash flow: $-701/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: Danville Community School Corporation
• NCES district ID: 1802550
• Math proficiency: 52% ▼ -10.00%
• Reading proficiency: 57% ▼ -6.00%
• Median HH income: $64,913
• Composite: 47.93/100
• National rank: #2208
• State rank: #27 of 301 in IN

Livability — Danville

• Score: 65/100
• State rank: #325
• US rank: #12689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danville, IN
• County: Hendricks County · 143,373 people
• City population: 16,974
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 16,974
• Household income: $99,531
• Rent vs Own: 20.7% rent · 79.3% own
• Severe rent burden: 234.0

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 2% Black 2% Two or more races 2%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -105.58%
• Current HPI: 222.8401
• Rent YoY: —
• 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

-0.3% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $333,900 MIBOR as Distributed by MLS Grid
• 2026-04-17 Listed $334,900 MIBOR as Distributed by MLS Grid

Property tax history

+102916.9%/yr

Latest (2025): $3,039 · +102916.9% YoY. Source: county tax records.