219 W Church St · Cambridge City, IN 47327

$59,900

4 bd · 1.0 ba · 2,898 sqft · SingleFamily public records · 60 Days on market

Built 1900 6,098 sqft lot $21/sqft · 61% below area ↓ 8% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.5/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity knocks at 219 W Church St in Cambridge City. This property is primed for investors or buyers looking to add value through renovation and customization. Featuring a functional layout with multiple living spaces, this home offers a strong starting point for your next project. The main level provides flexible living and dining areas ready for updates. Upstairs, you’ll find additional space that can be reimagined for added bedrooms, office space, or increased rental value. The home already shows signs of partial updates, giving you a head start while still leaving plenty of room to force appreciation. The kitchen and bath areas are ready for improvement, making this an ideal candidate for a cosmetic-to-moderate rehab. With the right vision, this property could be transformed into a solid rental, flip, or long-term hold. Located in Cambridge City with easy access to local amenities, this is a chance to capitalize on value and build equity.

Key facts

• Partial updates
• Functional layout
• Additional space

Tags

• FUNCTIONAL LAYOUT
• MULTIPLE LIVING SPACES
• FLEXIBLE LIVING AREAS
• ADDITIONAL SPACE
• PARTIAL UPDATES
• KITCHEN AND BATH AREAS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#387 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Western Wayne Schools (town): math 25% / reading 41% proficiency, ranked #215 of 301 in IN (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 active listings in the ZIP; 38 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.9%/yr); year-one equity from $414 of loan paydown is wiped out by about $551 of value loss. Plan a longer hold.
• Wayne County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.9% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 2.14% ✓
• Cap rate: 16.86%
• Cash-on-cash: 37.74%
• DSCR: 2.68
• GRM: 3.9

CMA / ARV

• ARV (median comp): $152,328
• List price: $59,900
• Delta: -60.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
710 W Parkway Dr	0.45mi	3/2.5 (-1)	2,990 (+3%)	2mo	$180,000	$60	61
303 Mulberry St	0.38mi	4/3.5	2,706 (-7%)	12mo	$359,900	$133	52
125 W Church St	0.08mi	5/4.5 (+1)	2,636 (-9%)	18mo	$135,000	$51	47

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

Projected returns pro-forma

-0.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.2%
• Equity multiple: 2.75×
• Total profit: $29,360
• Equity at exit: $14,688

10-year hold

• IRR: 41.5%
• Equity multiple: 5.42×
• Total profit: $74,184
• Equity at exit: $15,619

Cash invested: $16,772 (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 47327

• Home prices YoY: -0.4%
• Active inventory: 24
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,284 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$148 /mo · $1,778/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $527

Break-even live

Break-even rent $617

Max offer price $59,900

Occupancy floor 54%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $59,900 Active 60 DOM
2. 2026-06-18
   days on market $59,900 Active 59 DOM
3. 2026-06-17
   days on market $59,900 Active 58 DOM
4. 2026-06-16
   days on market $59,900 Active 57 DOM
5. 2026-06-15
   days on market $59,900 Active 56 DOM
6. 2026-06-14
   days on market $59,900 Active 54 DOM
7. 2026-06-12
   days on market $59,900 Active 53 DOM
8. 2026-06-09
   days on market $59,900 Active 50 DOM
9. 2026-06-08
   days on market $59,900 Active 49 DOM
10. 2026-06-07
    days on market $59,900 Active 48 DOM
11. 2026-06-05
    days on market $59,900 Active 45 DOM
12. 2026-06-03
    days on market $59,900 Active 44 DOM
13. 2026-06-02
    days on market $59,900 Active 43 DOM
14. 2026-06-01
    days on market $59,900 Active 42 DOM
15. 2026-05-31
    days on market $59,900 Active 41 DOM
16. 2026-05-30
    days on market $59,900 Active 40 DOM
17. 2026-04-20
    listed $59,900 Active 966-char remark

    Show marketing remark (966 chars)

    Opportunity knocks at 219 W Church St in Cambridge City. This property is primed for investors or buyers looking to add value through renovation and customization. Featuring a functional layout with multiple living spaces, this home offers a strong starting point for your next project. The main level provides flexible living and dining areas ready for updates. Upstairs, you’ll find additional space that can be reimagined for added bedrooms, office space, or increased rental value. The home already shows signs of partial updates, giving you a head start while still leaving plenty of room to force appreciation. The kitchen and bath areas are ready for improvement, making this an ideal candidate for a cosmetic-to-moderate rehab. With the right vision, this property could be transformed into a solid rental, flip, or long-term hold. Located in Cambridge City with easy access to local amenities, this is a chance to capitalize on value and build equity.

18. 2025-12-06
    listed $64,995 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: $1,778 · $148/mo
• Projected year-2 tax: $1,778 · $148/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,412
• − Mortgage interest: −$3,355
• − Property taxes: −$1,778
• − Insurance: −$300
• − Repairs & maintenance: −$1,233
• − Management: −$1,233
• − Depreciation: −$1,743
• Taxable income: $5,771
• Est. tax owed @ 24.0%: −$1,385
• After-tax cash flow: $4,944/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: Western Wayne Schools
• NCES district ID: 1813050
• Math proficiency: 25% ▼ -1.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $40,067
• Composite: 27.68/100
• National rank: #6913
• State rank: #215 of 301 in IN

Livability — Cambridge City

• Score: 64/100
• State rank: #387
• US rank: #14324

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge City, IN
• Population (ZIP): 4,384

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 63,316 people
• By 2030: 60,893 · -3.8%
• By 2040: 55,386 · -12.5%
• By 2050: 49,946 · -21.1%
• By 2075: 37,900 · -40.1%
• By 2100: 26,562 · -58.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Italian 2% Polish 2% Slovak 2%
• Foreign-born: 0%
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 2%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+32.5) · D 32.9% · R 65.4% · Other 1.6%
• 2008→2024 swing: -28.6pp toward R · 2008: -3.9pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+29.1 2016: R+30.1 2012: R+14.7 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.92%
• Current HPI: 243.63
• 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

-7.8% since first listed

2 events — show timeline

• 2026-04-20 Listed $59,900 IRMLS
• 2025-12-06 Listed $64,995 IRMLS

Property tax history

+12.6%/yr

Latest (2024): $1,778 · +8.9% YoY. Source: county tax records.