Looking to buy a new construction in Crown Point, IN

[Chintan Sheth]

Hi, I'm looking into some new constructions in Crown Point, IN. Some data that I pulled shows that a nice 4bd/2.5ba can rent for $3500+. Some new constructions of this size are priced $380-$400k. Definitely doesn't meet 1% rule but what does these days? Builders are looking to offload inventory and giving some concessions. This would be a long term buy and hold for me and more of an appreciation play with a bit of cashflow. My question is, are these rent numbers inflated and expected to come down? Is there strong rental demand in Crown Point? I live in Chicago and the way I see Crown Point is a quality suburb with top schools. 

Thanks!