250 W Franklin St

Lyons, IN 47443

$84,900B

2 bd · 1.0 ba · 1,402 sqft · Built 1895 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,102/mo
• Mortgage (P&I): −$445
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $284/mo
• Annual: $3,406/yr
• Cap rate: 10.30%
• Cash-on-cash: 14.33%
• DSCR: 1.64
• 1% rule: 1.30%
• Cash to close: $23,772

Investor read

• This is a 2-bed/1.0-bath single-family listed at $85k. Condition is rated fair.
• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 23 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($587 loan paydown + $5k appreciation (6.4% local appreciation)).
• Location reads 64/100 on livability (#366 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, employment D+.
• White River Valley School District (rural): math 33% / reading 39% proficiency, ranked #187 of 301 in IN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: White River Valley Elementary Sch (math 52% / reading 42%, grade D-, #325 of 994 statewide, top 36%, 326 students, 64% FRL); White River Valley Middle School (math 29% / reading 35%, grade F, #190 of 330 statewide, top 59%, 209 students, 60% FRL); White River Valley High School (math 22% / reading 47%, grade F, #270 of 369 statewide, top 77%, 210 students, 56% FRL) — zoned schools average 60% FRL vs 42% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP.
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.4% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Worn and dated
• Moderate: Bathroom cabinets — Worn and dated
• Moderate: Flooring — Worn and dated
• Moderate: Paint — Worn and dated