209 N Grant St · Cayuga, IN 47928

$95,000

2 bd · 1.0 ba · 1,212 sqft · SingleFamily public records · 3 Days on market

Built 1868 8,398 sqft lot Est $118k · 19% under

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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 +19.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• Appreciation +4.5/10.0
• 1% rule +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

This home has 2 large bedrooms and a 3rd room that has many possibilities. The room currently has a stand up shower and some built in storage shelves, could be used as a 2nd bathroom or laundry room with minimal work. It could also be converted into a 3rd bedroom. This cute little home has nice lot and detached garage. The partial basement makes a great place for storage and easy access to plumbing and maintenance. Come make this little charmer your own.

Key facts

• Covered front porch
• Firepit area
• Dedicated grill area

Tags

• COVERED FRONT PORCH
• PRIVATE CONCRETE DRIVEWAY
• DETACHED ONE CAR GARAGE
• DEDICATED GRILL AREA
• FIREPIT AREA
• VERSATILE BONUS ROOM

Property features AI

Finance

• Other: Property on approximately 0.19 acre (< 1/4 acre); Directions: South on 63 to west on 234 to left onto Grant Street, home on the right

Exterior

• Parking: Detached 1-car garage (approximately 352 sq ft)
• Utilities: Public water; Municipal sewer connected
• Home design: Single family residence; One level
• Construction: Vinyl siding; Block and brick/mortar foundation
• Exterior features: Covered patio/porch

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dryer; Electric water heater; Electric oven; Refrigerator; Washer; Finished main level living area; Finished basement (has basement)
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (7.5% below list).
• Recommended offer: $88k (7.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#490 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• North Vermillion Community School Corporation (rural): math 21% / reading 35% proficiency, ranked #253 of 301 in IN (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 8 active listings in the ZIP; 28 units permitted in Vermillion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.1%/yr); year-one equity from $657 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Vermillion County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y ago 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.
• Current owner paid $50k; list at $95k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1868 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,896 (7.5% below list)

Questions for the listing agent

1. Built in 1868 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.93% ✗
• Cap rate: 7.73%
• Cash-on-cash: 5.12%
• DSCR: 1.23
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $117,564
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 S Division St	0.39mi	1/1.5 (-1)	1,248 (+3%)	12mo	$20,000	$16	60
107 E Thompson St	0.08mi	2/1.0	1,367 (+13%)	20mo	$115,000	$84	58
207 W Maple St	0.47mi	2/1.0	1,344 (+11%)	7mo	$130,000	$97	54
311 E Curtis St	0.16mi	3/1.0 (+1)	1,104 (-9%)	24mo	$125,000	$113	53
208 4th St	0.39mi	2/1.0	1,050 (-13%)	12mo	$87,000	$83	49
303 S 7th St St	0.64mi	3/2.0 (+1)	1,328 (+10%)	10mo	$132,500	$100	37

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

Projected returns pro-forma

-1.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-197
• Equity at exit: $22,682

10-year hold

• IRR: 6.5%
• Equity multiple: 1.62×
• Total profit: $16,493
• Equity at exit: $23,605

Cash invested: $26,600 (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 47928

• Home prices YoY: -0.5%
• Active inventory: 8
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $879 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$43 /mo · $518/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $113

Break-even live

Break-even rent $735

Max offer price $95,000

Occupancy floor 82%

Sensitivity live

Price	-10% $167	-5% $140	+0% $113	+5% $87	+10% $60
Rent	-10% $44	-5% $79	+0% $113	+5% $148	+10% $183
Rate	-1.0pp $161	-0.5pp $138	base $113	+0.5pp $89	+1.0pp $64

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-07
   status Pending
2. 2026-05-04
   listed $95,000 Active
3. 2024-06-06
   soldstatus $50,000 Closed 466-char remark

   Show marketing remark (466 chars)

   This home has 2 large bedrooms and a 3rd room that has many possibilities. The room currently has a stand up shower and some built in storage shelves, could be used as a 2nd bathroom or laundry room with minimal work. It could also be converted into a 3rd bedroom. This cute little home has nice lot and detached garage. The partial basement makes a great place for storage and easy access to plumbing and maintenance. Come make this little charmer your own.

4. 2024-05-10
   status Pending 466-char remark

   Show marketing remark (466 chars)

   This home has 2 large bedrooms and a 3rd room that has many possibilities. The room currently has a stand up shower and some built in storage shelves, could be used as a 2nd bathroom or laundry room with minimal work. It could also be converted into a 3rd bedroom. This cute little home has nice lot and detached garage. The partial basement makes a great place for storage and easy access to plumbing and maintenance. Come make this little charmer your own.

5. 2024-04-17
   listed $50,000 Active 466-char remark

   Show marketing remark (466 chars)

   This home has 2 large bedrooms and a 3rd room that has many possibilities. The room currently has a stand up shower and some built in storage shelves, could be used as a 2nd bathroom or laundry room with minimal work. It could also be converted into a 3rd bedroom. This cute little home has nice lot and detached garage. The partial basement makes a great place for storage and easy access to plumbing and maintenance. Come make this little charmer your own.

ⓘ 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: $518 · $43/mo
• Projected year-2 tax: $663 · $55/mo
• Expected delta: +$145/yr (+$12/mo · 27.9%)

ⓘ 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 4/10 Moderate 7 d/yr ≥105°F today · 18 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: $10,548
• − Mortgage interest: −$5,321
• − Property taxes: −$518
• − Insurance: −$475
• − Repairs & maintenance: −$844
• − Management: −$844
• − Depreciation: −$2,764
• Taxable loss: −$218
• Est. tax savings @ 24.0%: +$52
• After-tax cash flow: $1,414/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: North Vermillion Community School Corporation
• NCES district ID: 1808070
• Math proficiency: 21% ▼ -8.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $46,272
• Composite: 24.14/100
• National rank: #7744
• State rank: #253 of 301 in IN

Livability — Cayuga

• Score: 61/100
• State rank: #490
• US rank: #17480

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cayuga, IN
• Population (ZIP): 1,748

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 (98%)
• Race & ethnicity: White 98%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 1%
• Foreign-born: 0% · South Korea
• Languages at home: 99% English-only · Arabic 1%

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: ▼ -1.05%
• Current HPI: 202.3023
• 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

+90.0% since first listed

5 events — show timeline

• 2026-05-07 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-04 Listed $95,000 MIBOR as Distributed by MLS Grid
• 2024-06-06 Sold (MLS) $50,000 MIBOR as Distributed by MLS Grid
• 2024-05-10 Pending — MIBOR as Distributed by MLS Grid
• 2024-04-17 Listed $50,000 MIBOR as Distributed by MLS Grid

Property tax history

-16.6%/yr

Latest (2015): $518 · -30.4% YoY. Source: county tax records.