835 S 3rd St · Clinton, IN 47842

$34,900

2 bd · 1.0 ba · 752 sqft · SingleFamily public records · 57 Days on market

Built 1918 5,532 sqft lot ↓ 40% 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 +6.0/10.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This Bungalow style home offers 2-Bed 1-Bath located south of town, home has a covered front porch and fenced yard. Living and Dining area are shared good size kitchen with good storage and countertop. Laundry on main level as home has a full-size unfinished basement.

Key facts

• Covered front porch
• Good size kitchen
• Fenced yard

Tags

• COVERED FRONT PORCH
• FENCED YARD
• GOOD SIZE KITCHEN
• GOOD STORAGE
• FULL-SIZE UNFINISHED BASEMENT

Property features AI

Exterior

• Utilities: Public water; Municipal sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Lot under 1/4 acre (approximately 0.13 acres)

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Has basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($844 rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#474 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• South Vermillion Community School Corporation (rural): math 31% / reading 42% proficiency, ranked #182 of 301 in IN (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Elementary School (math 27% / reading 37%, grade F, #652 of 994 statewide, top 68%, 302 students, 64% FRL); South Vermillion High School (math 27% / reading 62%, grade F, #169 of 369 statewide, top 51%, 478 students, 54% FRL).
• Market conditions: 46 active listings in the ZIP; 28 units permitted in Vermillion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $934 of equity ($241 loan paydown + $693 appreciation (2.0% local appreciation)).
• Vermillion County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $10k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo; built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $33,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.42% ✓
• Cap rate: 20.76%
• Cash-on-cash: 51.69%
• DSCR: 3.30
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $87,232
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1141 S 3rd St	0.22mi	2/1.0	832 (+11%)	4mo	$105,000	$126	68
1402 S 5th St	0.42mi	2/1.0	844 (+12%)	1mo	$70,000	$83	59
1059 Blackman St	0.72mi	2/1.0	812 (+8%)	2mo	$93,900	$116	52

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

Projected returns pro-forma

1.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.8%
• Equity multiple: 1.96×
• Total profit: $9,398
• Equity at exit: $13,737

10-year hold

• IRR: 20.3%
• Equity multiple: 3.72×
• Total profit: $26,570
• Equity at exit: $19,759

Cash invested: $9,772 (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 47842

• Home prices YoY: 1.0%
• Active inventory: 46
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $844 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$48 /mo · $579/yr
• Insurance: −$15
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $107

Break-even live

Break-even rent $708

Max offer price $34,900

Occupancy floor 82%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $34,900 Active 57 DOM
2. 2026-06-17
   days on market $34,900 Active 56 DOM
3. 2026-06-16
   days on market $34,900 Active 55 DOM
4. 2026-06-15
   days on market $34,900 Active 54 DOM
5. 2026-06-13
   days on market $34,900 Active 52 DOM
6. 2026-06-12
   days on market $34,900 Active 51 DOM
7. 2026-06-09
   days on market $34,900 Active 48 DOM
8. 2026-06-08
   days on market $34,900 Active 47 DOM
9. 2026-06-07
   days on market $34,900 Active 46 DOM
10. 2026-06-07
    pricedays on market $34,900 Active 45 DOM
11. 2026-06-04
    days on market $44,900 Active 42 DOM
12. 2026-06-02
    days on market $44,900 Active 41 DOM
13. 2026-06-01
    days on market $44,900 Active 40 DOM
14. 2026-05-31
    days on market $44,900 Active 39 DOM
15. 2026-05-31
    days on market $44,900 Active 38 DOM
16. 2026-04-21
    listed $44,900 Active 268-char remark

    Show marketing remark (268 chars)

    This Bungalow style home offers 2-Bed 1-Bath located south of town, home has a covered front porch and fenced yard. Living and Dining area are shared good size kitchen with good storage and countertop. Laundry on main level as home has a full-size unfinished basement.

17. 2026-04-21
    listed $44,900 Active

    Show marketing remark (268 chars)

    This Bungalow style home offers 2-Bed 1-Bath located south of town, home has a covered front porch and fenced yard. Living and Dining area are shared good size kitchen with good storage and countertop. Laundry on main level as home has a full-size unfinished basement.

18. 2023-02-22
    status Pending
19. 2023-02-17
    listed $75,000 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: $579 · $48/mo
• Projected year-2 tax: $579 · $48/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 6/10 Major FEMA zone A · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°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: $10,128
• − Mortgage interest: −$1,955
• − Property taxes: −$579
• − Insurance: −$3,940
• − Repairs & maintenance: −$810
• − Management: −$810
• − Depreciation: −$1,015
• Taxable income: $1,018
• Est. tax owed @ 24.0%: −$244
• After-tax cash flow: $1,041/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: South Vermillion Community School Corporation
• NCES district ID: 1810590
• Math proficiency: 31% ▼ -6.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $42,809
• Composite: 30.87/100
• National rank: #6123
• State rank: #182 of 301 in IN

Livability — Clinton

• Score: 62/100
• State rank: #474
• US rank: #16763

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clinton, IN
• Population (ZIP): 9,675

Population outlook (Vermillion County) Hauer SSP2

• Today (2025): 14,605 people
• By 2030: 13,942 · -4.5%
• By 2040: 12,592 · -13.8%
• By 2050: 11,381 · -22.1%
• By 2075: 9,063 · -37.9%
• By 2100: 7,098 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Italian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 0%

Political lean MEDSL · Vermillion

• 2024 margin: Solid R (+44.7) · D 26.6% · R 71.3% · Other 2.1%
• 2008→2024 swing: -58.7pp toward R · 2008: 13.9pp · 2024: -44.7pp
• All cycles: 2024: R+44.7 2020: R+40.6 2016: R+35.1 2012: R+6.8 2008: D+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.98%
• Current HPI: 201.465
• 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

-40.1% since first listed

4 events — show timeline

• 2026-04-21 Listed $44,900 MIBOR as Distributed by MLS Grid
• 2026-04-21 Listed $44,900 THAAR
• 2023-02-22 Pending — THAAR
• 2023-02-17 Listed $75,000 THAAR

Property tax history

+4.6%/yr

Latest (2024): $579 · +4.1% YoY. Source: county tax records.