249 W County Line Rd · Greenwood, IN 46142

$195,000

3 bd · 1.0 ba · 836 sqft · SingleFamily public records · 16 Days on market

Built 1956 8,276 sqft lot Est $189k · at est.

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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).

• Cash flow +14.1/30.0
• ARV discount +6.1/15.0
• DSCR +4.3/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute, 3 bedroom, 1 full bath home. Living room & family room, eat in kitchen. All appliances stay. Hardwood floors under carpet. Furnace & AC replaced in 2010.

Key facts

• Fresh paint
• New carpet
• Large kitchen

Tags

• FRESH PAINT
• NEW CARPET
• SPACIOUS LIVING ROOM
• SEPARATE FAMILY ROOM
• LARGE KITCHEN
• ABUNDANT CABINETRY

Property features AI

Exterior

• Parking: Concrete parking; Garage area approximately 139 sq ft (0 garage spaces listed)
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connected; Electricity connected; Natural gas connected
• Home design: Single family residence; One level; North-facing
• Construction: Vinyl siding; Block foundation
• Exterior features: Porch; Chain link full fence; Corner lot; City lot with sidewalks and street lights; Access to busline; Storm sewer

Interior

• Kitchen: Dishwasher; Electric oven; Range hood; Refrigerator; Disposal; Kitchen island
• Bedrooms: 3 bedrooms on the main level
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Kitchen island; Hardwood floors; Stained/painted woodwork; Daylight unfinished basement; Sump pump; Laundry located in garage
• Laundry & utility: Washer and dryer included; Laundry connections available; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $30 ($361/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 $152k (22.3% below list).
• Recommended offer: $152k (22.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.5% in Greenwood — 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 (#91 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Greenwood Community School Corporation (suburban): math 41% / reading 52% proficiency, ranked #88 of 301 in IN (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greenwood Northeast Elementary Sch (math 37% / reading 32%, grade F, #597 of 994 statewide, top 63%, 405 students, 82% FRL); Greenwood Middle School (math 36% / reading 52%, grade D, #87 of 330 statewide, top 27%, 948 students, 53% FRL); Greenwood Community High Sch (math 37% / reading 79%, grade C, #62 of 369 statewide, top 17%, 1,175 students, 43% FRL) — zoned schools average 60% FRL vs 38% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.1%/yr); 61 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,133 units permitted in Johnson County in 2024 (0 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.
• Johnson County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $70k; list at $195k implies a 179% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $151,573 (22.3% below list)

Questions for the listing agent

1. Built in 1956 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.78% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $188,936
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 Pleasant Run Dr	0.24mi	2/1.0 (-1)	784 (-6%)	19mo	$177,500	$226	58
3608 Valley Lake Dr	0.62mi	3/1.0	912 (+9%)	12mo	$207,000	$227	46
3648 Valley Lake Dr	0.66mi	3/1.0	912 (+9%)	12mo	$200,000	$219	44

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.37×
• Total profit: $-34,213
• Equity at exit: $29,075

10-year hold

• IRR: -16.8%
• Equity multiple: 0.18×
• Total profit: $-44,850
• Equity at exit: $16,860

Cash invested: $54,600 (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 46142

• Rents YoY: -0.1%
• Active inventory: 61
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,516 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$64 /mo · $762/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $30

Break-even live

Break-even rent $1,478

Max offer price $195,000

Occupancy floor 93%

Sensitivity live

Price	-10% $140	-5% $85	+0% $30	+5% $-25	+10% $-80
Rent	-10% $-90	-5% $-30	+0% $30	+5% $90	+10% $150
Rate	-1.0pp $128	-0.5pp $80	base $30	+0.5pp $-20	+1.0pp $-72

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1039 N Paz Dr Greenwood, IN	1.0–3.0	1.0–2.0	925	$1,434	$1.55	0d	9	0.19mi
14 Greenwood Trl N Greenwood, IN	2.0	1.5	1088	$1,275	$1.17	16d	1	0.34mi
968 Greenwood Trl W Greenwood, IN	2.0	2.0	1088	$1,475	$1.36	14d	1	0.34mi
49 Trails End Unit 1 Greenwood, IN	2.0	1.5	1088	$1,450	$1.33	0d	1	0.38mi
3503 Pleasant Lake Dr Indianapolis, IN	3.0	1.0	1064	$1,615	$1.52	14d	1	0.45mi
8631 Pleasant Creek Ct Indianapolis, IN	3.0	2.0	1120	$1,706	$1.52	9d	1	0.47mi
8960 S Keystone Ave Indianapolis, IN	1.0–2.0	1.0	881	$1,270	$1.44	3d	7	0.51mi
88 Keran Manor Ct Greenwood, IN	2.0	1.0	945	$1,450	$1.53	45d	1	0.61mi
3546 Valley Lake Dr Indianapolis, IN	3.0	1.0	984	$1,645	$1.67	6d	1	0.62mi
514 Carol Dr Greenwood, IN	3.0	1.0	864	$1,483	$1.72	0d	1	0.82mi
745 Wood Dale Ter Greenwood, IN	1.0–2.0	1.0–1.5	818	$1,397	$1.71	0d	9	0.83mi
3717 Piermont Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1038	$1,730	$1.67	4d	23	0.87mi
1043 Mikes Way Greenwood, IN	3.0	2.0	1090	$1,650	$1.51	45d	1	0.87mi
628 Wooddale Ter Unit 1007 Greenwood, IN	2.0	1.5	1013	$1,104	$1.09	45d	1	0.91mi
622 Wood Dale Ter Greenwood, IN	1.0–2.0	1.0–1.5	947	$1,104	$1.17	25d	3	0.91mi
601 Wood Dale Ter Greenwood, IN	2.0	1.5	960	$1,174	$1.22	46d	1	0.92mi
921 Parliament Pl Greenwood, IN	1.0–3.0	1.0–2.0	994	$1,525	$1.53	4d	30	0.94mi
8213 Zona Dr Indianapolis, IN	1.0–3.0	1.0–1.5	935	$1,480	$1.58	3d	16	0.95mi
600 Wooddale Ter Apt 07 Greenwood, IN	2.0	1.0	750	$999	$1.33	25d	1	0.96mi
600 Wood Dale Ter Greenwood, IN	2.0	1.0	750	$999	$1.33	45d	1	0.96mi
3741 Lima Ct Indianapolis, IN	2.0	1.0	976	$1,350	$1.38	9d	1	0.97mi
8055 Crossing Dr Indianapolis, IN	1.0–2.0	1.0	775	$1,224	$1.58	4d	15	0.99mi
800 Kings Mill Rd Greenwood, IN	2.0	1.0–2.0	701	$1,347	$1.92	0d	50	1.01mi
464 Carol Dr Greenwood, IN	3.0	1.0	888	$1,550	$1.75	45d	1	1.10mi
4545 Scarlet Oak Way Indianapolis, IN	1.0–3.0	1.0–2.0	1101	$1,767	$1.60	0d	15	1.14mi
7909 Southfield Dr Indianapolis, IN	3.0	2.0	1056	$1,445	$1.37	9d	1	1.18mi
2524 Tamarack Ln Indianapolis, IN	1.0–2.0	1.0	655	$969	$1.48	9d	7	1.23mi
8580 Beechmill Ln Indianapolis, IN	1.0–2.0	1.0–1.5	794	$1,265	$1.59	4d	13	1.28mi
1201 Community Pl Indianapolis, IN	2.0–3.0	1.0–1.5	908	$1,530	$1.69	25d	3	1.36mi
7913 Ella Dobbs Ln Indianapolis, IN	1.0–3.0	1.0–2.0	1021	$1,650	$1.62	25d	1	1.46mi

Listing history 11 events

1. 2026-06-21
   statusdays on market $195,000 Pending 16 DOM
2. 2026-06-18
   days on market $195,000 Active 15 DOM
3. 2026-06-17
   days on market $195,000 Active 14 DOM
4. 2026-06-16
   days on market $195,000 Active 13 DOM
5. 2026-06-15
   days on market $195,000 Active 12 DOM
6. 2026-06-13
   days on market $195,000 Active 10 DOM
7. 2026-06-13
   days on market $195,000 Active 9 DOM
8. 2026-06-09
   days on market $195,000 Active 6 DOM
9. 2026-06-08
   days on market $195,000 Active 5 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $195,000 Active 4 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: $762 · $64/mo
• Projected year-2 tax: $1,210 · $101/mo
• Expected delta: +$448/yr (+$37/mo · 58.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,189
• − Mortgage interest: −$10,923
• − Property taxes: −$762
• − Insurance: −$975
• − Repairs & maintenance: −$1,455
• − Management: −$1,455
• − Depreciation: −$5,673
• Taxable loss: −$3,054
• Est. tax savings @ 24.0%: +$733
• After-tax cash flow: $1,094/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: Greenwood Community School Corporation
• NCES district ID: 1804110
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 52% ▼ -7.00%
• Median HH income: $48,589
• Composite: 39.71/100
• National rank: #3902
• State rank: #88 of 301 in IN

Livability — Greenwood

• Score: 73/100
• State rank: #91
• US rank: #5255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenwood, IN
• County: Johnson County · 154,261 people
• City population: 96,151
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 34,348
• Household income: $89,001
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 482.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 170,080 people
• By 2030: 179,983 · +5.8%
• By 2040: 198,580 · +16.8%
• By 2050: 214,661 · +26.2%
• By 2075: 247,990 · +45.8%
• By 2100: 257,821 · +51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Asian 6% Hispanic / Latino 5% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 3% Italian 2% Romanian 2%
• Foreign-born: 6% · Canada, Philippines
• Languages at home: 91% English-only · Spanish 3% Other Asian/Pacific 3% Other Indo-European 1%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+34.3) · D 32.0% · R 66.3% · Other 1.7%
• 2008→2024 swing: -8.9pp toward R · 2008: -25.5pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+34.1 2016: R+42.5 2012: R+38.5 2008: R+25.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -222.62%
• Current HPI: 210.7473
• Rent YoY: ▼ -0.15%
• 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

+148.4% since first listed

4 events — show timeline

• 2026-06-02 Listed $195,000 MIBOR as Distributed by MLS Grid
• 2016-06-14 Sold (MLS) $70,000 MIBOR as Distributed by MLS Grid
• 2016-05-16 Pending — MIBOR as Distributed by MLS Grid
• 2016-05-06 Listed $78,500 MIBOR as Distributed by MLS Grid

Property tax history

+32.0%/yr

Latest (2024): $762 · +2.0% YoY. Source: county tax records.