209 E Cyrus St · Farmersburg, IN 47850

$58,500

4 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 73 Days on market

Built 1920 10,560 sqft lot $49/sqft · 50% below area ↓ 13% 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
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.4/10.0

Listing remarks MLS

Discover this spacious 1,800 sq. ft. home in Farmersburg, featuring 4 bedrooms and 2 bathrooms. The interior includes updated paint and trim, along with a mix of hardwood, carpet, and laminate flooring. The kitchen is equipped with a glass-top stove, a refrigerator, and installed upper cabinetry. The home also features a 1-year-old roof, updated electrical, and an electric furnace. The exterior offers new siding and a large 2.5-car garage with bonus room.

Key facts

• Updated electrical
• New siding
• Updated paint

Tags

• UPDATED PAINT
• UPDATED ELECTRICAL
• NEW SIDING
• GLASS-TOP STOVE
• INSTALLED UPPER CABINETRY
• ELECTRIC FURNACE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $55k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#434 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: schools C-, employment D+, amenities F.
• Northeast School Corporation (rural): math 29% / reading 34% proficiency, ranked #228 of 301 in IN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 19 active listings in the ZIP; 4 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $404 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Sullivan County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($55k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,990 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.34% ✓
• Cap rate: 20.37%
• Cash-on-cash: 50.26%
• DSCR: 3.24
• GRM: 3.6

CMA / ARV

• ARV (median comp): $174,425
• List price: $58,500
• Delta: -66.46%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 E Emil St	0.05mi	3/1.0 (-1)	1,152 (-4%)	6mo	$118,587	$103	81
11175 N County Road 140 E	0.64mi	3/1.0 (-1)	1,120 (-7%)	0mo	$158,000	$141	54
11305 N CR 200 E	0.62mi	3/1.0 (-1)	1,314 (+10%)	2mo	$172,000	$131	48

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 48.0%
• Equity multiple: 3.09×
• Total profit: $34,233
• Equity at exit: $8,723

10-year hold

• IRR: 53.6%
• Equity multiple: 6.26×
• Total profit: $86,137
• Equity at exit: $5,058

Cash invested: $16,380 (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 47850

• Home prices YoY: -3.8%
• Active inventory: 19
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,369 medium
• Mortgage (P&I): −$307
• Tax from tax record: −$64 /mo · $768/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $686

Break-even live

Break-even rent $500

Max offer price $58,500

Occupancy floor 45%

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: $14,625
• Closing costs: $1,755
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $58,500 Active 73 DOM
2. 2026-06-18
   days on market $58,500 Active 72 DOM
3. 2026-06-17
   days on market $58,500 Active 71 DOM
4. 2026-06-16
   days on market $58,500 Active 70 DOM
5. 2026-06-15
   days on market $58,500 Active 69 DOM
6. 2026-06-14
   days on market $58,500 Active 67 DOM
7. 2026-06-13
   days on market $58,500 Active 66 DOM
8. 2026-06-10
   days on market $58,500 Active 64 DOM
9. 2026-06-09
   days on market $58,500 Active 63 DOM
10. 2026-06-08
    days on market $58,500 Active 62 DOM
11. 2026-06-07
    days on market $58,500 Active 61 DOM
12. 2026-06-05
    pricedays on market $58,500 Active 58 DOM
13. 2026-06-02
    days on market $65,000 Active 56 DOM
14. 2026-06-01
    days on market $65,000 Active 55 DOM
15. 2026-05-31
    days on market $65,000 Active 54 DOM
16. 2026-05-30
    days on market $65,000 Active 53 DOM
17. 2026-05-05
    price $65,000 459-char remark

    Show marketing remark (459 chars)

    Discover this spacious 1,800 sq. ft. home in Farmersburg, featuring 4 bedrooms and 2 bathrooms. The interior includes updated paint and trim, along with a mix of hardwood, carpet, and laminate flooring. The kitchen is equipped with a glass-top stove, a refrigerator, and installed upper cabinetry. The home also features a 1-year-old roof, updated electrical, and an electric furnace. The exterior offers new siding and a large 2.5-car garage with bonus room.

18. 2026-04-06
    listed $75,000 Active 459-char remark

    Show marketing remark (459 chars)

    Discover this spacious 1,800 sq. ft. home in Farmersburg, featuring 4 bedrooms and 2 bathrooms. The interior includes updated paint and trim, along with a mix of hardwood, carpet, and laminate flooring. The kitchen is equipped with a glass-top stove, a refrigerator, and installed upper cabinetry. The home also features a 1-year-old roof, updated electrical, and an electric furnace. The exterior offers new siding and a large 2.5-car garage with bonus room.

ⓘ 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: $768 · $64/mo
• Projected year-2 tax: $768 · $64/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 21% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,424
• − Mortgage interest: −$3,277
• − Property taxes: −$768
• − Insurance: −$292
• − Repairs & maintenance: −$1,314
• − Management: −$1,314
• − Depreciation: −$1,702
• Taxable income: $7,757
• Est. tax owed @ 24.0%: −$1,862
• After-tax cash flow: $6,371/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: Northeast School Corporation
• NCES district ID: 1808160
• Math proficiency: 29% ▼ -10.00%
• Reading proficiency: 34% ▼ -7.00%
• Median HH income: $45,565
• Composite: 27.01/100
• National rank: #7061
• State rank: #228 of 301 in IN

Livability — Farmersburg

• Score: 63/100
• State rank: #434
• US rank: #15622

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmersburg, IN
• Population (ZIP): 2,027

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 20,313 people
• By 2030: 19,908 · -2.0%
• By 2040: 19,009 · -6.4%
• By 2050: 17,972 · -11.5%
• By 2075: 14,929 · -26.5%
• By 2100: 11,391 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Asian 4%
• Common ancestry: Italian 4% Slovak 3% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Sullivan

• 2024 margin: Solid R (+52.7) · D 22.8% · R 75.5% · Other 1.7%
• 2008→2024 swing: -52.0pp toward R · 2008: -0.7pp · 2024: -52.7pp
• All cycles: 2024: R+52.7 2020: R+50.5 2016: R+47.0 2012: R+20.6 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.13%
• Current HPI: 183.1507
• 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

-13.3% since first listed

2 events — show timeline

• 2026-05-05 Price Changed $65,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-06 Listed $75,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+12.6%/yr

Latest (2024): $768 · -4.0% YoY. Source: county tax records.