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1285 Greenwood Station Blvd
Greenwood, IN

1285 Greenwood Station Blvd

$430,000
3 bd • 3 ba • 2,605 sf

This analysis was generated by artificial intelligence on 1/26/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$430,000

Price/Sq.Ft

$165

Year Built

2016

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• **Backyard Oasis:** The heated pool with deck jets and automatic cover is a standout feature, ideal for relaxation and entertaining. The pergola and gas grill hookup enhance the outdoor living space. • **Spacious Interior:** The home offers 3 bedrooms, 2.5 bathrooms, and a spacious loft, providing ample space for a family. The open-concept living, kitchen, and dining areas are enhanced by a 4-foot extended dining nook. • **High-End Features:** The home boasts several high-end features, including high ceilings, walk-in closets, a double vanity in the master bath, a kitchen island, and a deluxe spa-style owners suite with raised vanities and center jets in the walk-in shower. The whole-house in-ceiling speakers are a nice touch as well. • **Recent Updates:** The home has recent updates, including fresh paint, new flooring in the living room, stairs and loft, and a new water heater. The modern finishes throughout the home are appealing. • **Convenient Location:** The property is conveniently located near I-65, the Greenwood Community Center, Greenwood Park Mall, and only 20 minutes from downtown Indianapolis.

The Bad

• **High Initial List Price:** The property was initially listed at $455,000, which was a 54.2% increase from its last sale price in 2020. Despite recent price reductions, the price per square foot of $165.07 is still on the higher end for the area. The price reductions also indicate that the initial price was too high, and the property may not appraise for the current price of $430,000. • **Limited Public Transportation:** While Greenwood has some public bus routes, reliance on a car is common. This could be a drawback for buyers who depend on public transit. • **School Rating:** The high school rating of 4/10 is a concern for families with older children. The elementary and middle schools are rated slightly higher at 6/10 and 7/10, respectively. • **Traffic Congestion**: Greenwood has seen a large increase in traffic, and this could be a concern for potential buyers. • **Property taxes:** Property taxes in Greenwood can vary. Buyers should research tax rates in this specific area of Greenwood to factor this into their overall housing budget.

The Ugly

• **Potential Overpricing:** The initial 54.2% increase in list price from the 2020 sale, followed by multiple price drops, suggests the property may be overpriced for the current market. The 72 days on market is also an indication of potential overpricing. • **High Total Monthly Ownership Costs:** Assuming a 20% down payment, the monthly mortgage payment could be around $2,300 at a 7% interest rate. Adding the estimated $129 per month for insurance and property taxes (not provided but estimated) will bring the total monthly cost to at least $2,429. This does not include utilities and HOA fees. This may be unaffordable for some buyers, and could make it difficult to sell in the future. • **HVAC Condition:** While the property has central air and forced air, the description does not mention the age or condition of the HVAC system. An older or poorly maintained system could lead to costly repairs or replacements. The heat risk score of 4/10 indicates that the HVAC system will be heavily used in the summer, and the cost of upkeep could be higher than average. • **HOA Details:** While HOA fees include maintenance, and park/playground, there are no specific details about the cost of the HOA fees. Any unexpected HOA fees could negatively impact the buyer's monthly costs. • **Radon and Termite Risk:** As with most of Indiana, radon and termites are a risk. Mitigation or treatment could add unexpected costs to the buyer after they purchase the home.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Families with children who will benefit from the home's proximity to Grassy Creek Elementary and Clark Pleasant Middle School, both within a mile of the property. The playground and common areas in the neighborhood are also a plus. • Buyers seeking a move-in ready home with high-end features. The upgraded master suite, gas fireplace, in-ceiling speakers, and heated pool with deck jets offer a luxurious feel without the need for immediate renovations. • Homeowners who enjoy outdoor entertaining. The backyard oasis, complete with a heated pool, pergola, and gas grill hookup, is designed for relaxation and social gatherings. • Individuals or couples who value convenience. The property's location near I-65, the Greenwood Community Center, Greenwood Park Mall, and downtown Indianapolis makes commuting and accessing amenities easy. • Buyers with a household income of at least $120,000, given the estimated monthly costs of ownership (mortgage, insurance, taxes). This income level will help ensure a comfortable debt-to-income ratio.

Not For

• Buyers seeking a large lot. This property is located in a neighborhood with smaller, standard-sized lots. • Buyers who prefer a home with a more traditional layout. The circular hallway on the second floor is an architectural feature that may not appeal to all buyers. • Individuals who are highly sensitive to noise. While the property is not directly under flight paths, some noise from small planes using the Greenwood Municipal Airport may be present. • Budget-conscious buyers. While the price per square foot is competitive, the total cost of ownership, including mortgage, insurance, and property taxes, may be too high for buyers with limited budgets. • Buyers who require public transportation. While Greenwood has some bus routes, reliance on a car is common. Those who depend heavily on public transit may find this location inconvenient.
Demographics
Area Median Income

$79,931

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Risk Assessment

Climate Risks

heatMODERATE

7 extreme heat days per year

98th percentile: 101°F

airMINOR

2 bad air quality days per year

windMINOR

Insurance: Recommended

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

• **Traffic Congestion:** The property's proximity to I-65 is convenient, but increased traffic in Greenwood, particularly along US 31 and State Road 135, can be a concern. Commute times may be longer than expected during peak hours. • **Airport Noise:** Though not directly under flight paths, some areas near the Greenwood Municipal Airport may experience noise from small planes. This may be a concern for some buyers. • **Radon and Termites:** As with most of Indiana, radon and termite risks are present. A radon test and termite inspection are highly recommended during the home inspection process. • **School Boundary Changes:** Due to rapid growth, school boundaries and capacities can shift. Buyers should verify the current school assignment and research any projected changes. The high school rating of 4/10 is a potential concern. • **Ongoing Development:** While growth is generally a positive, the ongoing development in Greenwood could cause traffic issues, and may affect the overall character of the neighborhood. This should be researched before making an offer.
Insurance
Annual Cost

$1,548

$129 per month

Financials

Monthly Costs
Market Rent (3 bed)

$1,510

Get a detailed rental estimate on Zillow®
HOA Fee

$29

Price History

Property Taxes

$3,770
2023 Tax Assessment
6.7%from previous year
Assessed Value$362,500
Tax Rate1.04%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$362,633

-15.7% below list price

Median Price

$359,900

Based on 6 recent sales

Price per Sq.Ft

$149

Comparable Properties

580 Hacienda Place, Greenwood, IN 46143
Price: $385,000
Sq.Ft: 2,496
Beds/Baths: 4/3
$/Sq.Ft:
$1546.6%
Sale Date: 12/4/2024
1300 Townsend Drive, Greenwood, IN 46143
Price: $350,000
Sq.Ft: 2,500
Beds/Baths: 4/3
$/Sq.Ft:
$14015.2%
Sale Date: 11/18/2024
1097 Woodgate Boulevard, Greenwood, IN 46143
Price: $355,900
Sq.Ft: 2,516
Beds/Baths: 4/3
$/Sq.Ft:
$14114.3%
Sale Date: 10/15/2024
810 Granada Drive, Greenwood, IN 46143
Price: $310,000
Sq.Ft: 2,256
Beds/Baths: 4/3
$/Sq.Ft:
$13716.8%
Sale Date: 11/6/2024
1080 Woodfield Court, Greenwood, IN 46143
Price: $359,900
Sq.Ft: 2,303
Beds/Baths: 3/3
$/Sq.Ft:
$1565.3%
Sale Date: 9/6/2024
949 S Haven Road, Greenwood, IN 46143
Price: $415,000
Sq.Ft: 2,517
Beds/Baths: 4/3
$/Sq.Ft:
$1650.1%
Sale Date: 8/5/2024

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