105 N Sheridan St · Ridgeville, IN 47380

$7,900

3 bd · 1.0 ba · 938 sqft · SingleFamily public records · 260 Days on market

Built 1890 5,060 sqft lot $8/sqft · 93% below area

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Why this score? — see what drove the C- 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

Key facts

• 5,060 sq ft lot
• Built 1890
• Listed 260 days

🏷️ Possibly a rental listed for sale. The $7,900 price doesn't fit this home's estimated sale value (~$112,706) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $8k.

Deal economics

• At list price, monthly cash flow is $693 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($964 rent vs $8k).
• Recommended offer: $7k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#548 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime D, health & safety D, amenities F.
• Randolph Central School Corporation (town): math 32% / reading 37% proficiency, ranked #201 of 301 in IN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Deerfield Elementary School (math 52% / reading 47%, grade D, #279 of 994 statewide, top 30%, 154 students, 65% FRL); Lee L Driver Middle School (math 27% / reading 33%, grade F, #208 of 330 statewide, top 64%, 291 students, 56% FRL); Winchester Community High School (math 17% / reading 47%, grade F, #295 of 369 statewide, top 82%, 414 students, 47% FRL).
• Market conditions: 7 active listings in the ZIP; 19 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $845 of equity ($55 loan paydown + $790 appreciation (10.0% local appreciation)).
• Randolph County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($7k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $22k (74%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $6,952 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 12.21% ✓
• Cap rate: 111.50%
• Cash-on-cash: 375.74%
• DSCR: 17.72
• GRM: 0.7

CMA / ARV

• ARV (median comp): $112,706
• List price: $7,900
• Delta: -92.99%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 Elm St	0.42mi	3/1.0	984 (+5%)	14mo	$129,000	$131	60
315 Elm St	0.42mi	3/1.0	984 (+5%)	14mo	$129,000	$131	60
106 Orchard St	0.27mi	2/1.0 (-1)	915 (-2%)	23mo	$74,400	$81	60
108 S George St	0.15mi	2/1.0 (-1)	1,020 (+9%)	20mo	$85,000	$83	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 22.90×
• Total profit: $48,439
• Equity at exit: $7,117

10-year hold

• IRR: —
• Equity multiple: 49.83×
• Total profit: $108,002
• Equity at exit: $15,348

Cash invested: $2,212 (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 47380

• Home prices YoY: 4.7%
• Active inventory: 7
• Price-to-rent: 0.7×

Monthly cashflow live

• Estimated rent: $964 medium
• Mortgage (P&I): −$41
• Tax from tax record: −$25 /mo · $295/yr
• Insurance: −$3
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $693

Break-even live

Break-even rent $88

Max offer price $7,900

Occupancy floor 23%

Sensitivity live

Price	-10% $697	-5% $695	+0% $693	+5% $690	+10% $688
Rent	-10% $616	-5% $655	+0% $693	+5% $731	+10% $769
Rate	-1.0pp $697	-0.5pp $695	base $693	+0.5pp $691	+1.0pp $688

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: $1,975
• Closing costs: $237
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-18
   status $7,900 Pending 260 DOM
2. 2026-06-18
   days on market $7,900 Active 260 DOM
3. 2026-06-17
   days on market $7,900 Active 259 DOM
4. 2026-06-16
   days on market $7,900 Active 258 DOM
5. 2026-06-15
   days on market $7,900 Active 257 DOM
6. 2026-06-13
   days on market $7,900 Active 255 DOM
7. 2026-06-12
   pricedays on market $7,900 Active 254 DOM
8. 2026-06-09
   days on market $9,900 Active 251 DOM
9. 2026-06-08
   days on market $9,900 Active 250 DOM
10. 2026-06-07
    days on market $9,900 Active 249 DOM
11. 2026-06-04
    days on market $9,900 Active 245 DOM
12. 2026-06-02
    days on market $9,900 Active 244 DOM
13. 2026-06-01
    days on market $9,900 Active 243 DOM
14. 2026-05-31
    days on market $9,900 Active 242 DOM
15. 2026-05-31
    days on market $9,900 Active 241 DOM
16. 2026-05-18
    price $9,900 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

17. 2026-05-18
    price $9,900 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

18. 2026-04-03
    price $12,900 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

19. 2026-04-03
    price $12,900 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

20. 2026-03-03
    price $14,900 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

21. 2026-03-03
    price $14,900 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

22. 2026-01-16
    price $17,900 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

23. 2026-01-16
    price $17,900 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

24. 2025-12-03
    price $19,900 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

25. 2025-12-03
    price $19,900 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

26. 2025-10-27
    price $24,900 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

27. 2025-10-27
    price $24,900 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

28. 2025-10-01
    listed $29,900 Active 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

29. 2025-10-01
    status Active

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

30. 2025-10-01
    listed $29,900 Active

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

31. 2025-09-30
    listed $29,900 Active 434-char remark

    Show marketing remark (434 chars)

    Charming Small-Town Opportunity! This 2-bedroom, 1-bath home in Sheridan offers 938 sq ft of living space with a layout full of potential. Built in 1890, the property features the character of an older home and is ready for updates to make it shine again. Ideal as an affordable residence or an investment opportunity, this home is located in quiet Randolph County with small-town appeal. Bring your vision and make this one your own!

32. 2025-09-09
    soldstatus $13,000
33. 2025-08-25
    soldstatus $13,000 Closed
34. 2025-08-14
    historical
35. 2025-08-09
    status Pending
36. 2025-06-18
    price $29,900
37. 2025-05-16
    listed $34,900 Active
38. 2025-05-16
    listed $34,900 Active

ⓘ 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: $295 · $25/mo
• Projected year-2 tax: $295 · $25/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,574
• − Mortgage interest: −$443
• − Property taxes: −$295
• − Insurance: −$40
• − Repairs & maintenance: −$926
• − Management: −$926
• − Depreciation: −$230
• Taxable income: $8,715
• Est. tax owed @ 24.0%: −$2,092
• After-tax cash flow: $6,220/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: Randolph Central School Corporation
• NCES district ID: 1801770
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $41,627
• Composite: 29.12/100
• National rank: #6589
• State rank: #201 of 301 in IN

Livability — Ridgeville

• Score: 59/100
• State rank: #548
• US rank: #19629

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ridgeville, IN
• Population (ZIP): 1,537

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 22,998 people
• By 2030: 21,815 · -5.1%
• By 2040: 19,360 · -15.8%
• By 2050: 17,010 · -26.0%
• By 2075: 12,491 · -45.7%
• By 2100: 8,986 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Portuguese 1% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+53.7) · D 22.3% · R 75.9% · Other 1.8%
• 2008→2024 swing: -44.9pp toward R · 2008: -8.8pp · 2024: -53.7pp
• All cycles: 2024: R+53.7 2020: R+52.4 2016: R+48.5 2012: R+24.1 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.20%
• Current HPI: 269.4161
• Rent YoY: —
• Metro: —
• 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

-71.6% since first listed

23 events — show timeline

• 2026-05-18 Price Changed $9,900 MIBOR as Distributed by MLS Grid
• 2026-05-18 Price Changed $9,900 IRMLS
• 2026-04-03 Price Changed $12,900 MIBOR as Distributed by MLS Grid
• 2026-04-03 Price Changed $12,900 IRMLS
• 2026-03-03 Price Changed $14,900 MIBOR as Distributed by MLS Grid
• 2026-03-03 Price Changed $14,900 IRMLS
• 2026-01-16 Price Changed $17,900 IRMLS
• 2026-01-16 Price Changed $17,900 MIBOR as Distributed by MLS Grid
• 2025-12-03 Price Changed $19,900 IRMLS
• 2025-12-03 Price Changed $19,900 MIBOR as Distributed by MLS Grid
• 2025-10-27 Price Changed $24,900 IRMLS
• 2025-10-27 Price Changed $24,900 MIBOR as Distributed by MLS Grid
• 2025-10-01 Listed $29,900 IRMLS
• 2025-10-01 Relisted — IRMLS
• 2025-10-01 Listed $29,900 IRMLS
• 2025-09-30 Listed $29,900 MIBOR as Distributed by MLS Grid
• 2025-09-09 Sold (Public Records) $13,000 Public Records
• 2025-08-25 Sold (MLS) $13,000 IRMLS
• 2025-08-14 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-08-09 Pending — IRMLS
• 2025-06-18 Price Changed $29,900 IRMLS
• 2025-05-16 Listed $34,900 MIBOR as Distributed by MLS Grid
• 2025-05-16 Listed $34,900 IRMLS

Property tax history

+10.4%/yr

Latest (2024): $295 · +27.3% YoY. Source: county tax records.