1041 Delwood Dr · Mooresville, IN 46158

$176,000

4 bd · 2.0 ba · 1,500 sqft · SingleFamily public records · 9 Days on market

Built 1965 Est $244k · 28% under

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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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +6.4/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Please text 1st before calling. 1500 sq ft home situated on a . 33-acre lot that backs directly up to Pioneer Park & acirc; & euro; & rdquo; enjoy a front-row view of the town & acirc; & euro; & trade; s fireworks without ever leaving your home. The home is equipped with two A/C units (one brand new in 2020), one for each side of the house, along with two smart thermostats and two separate forced-air heating systems for efficient climate control. Additional features include a detached garage with a Bluetooth-enabled door, a large kitchen with a working attic fan, a brand-new dual-oven gas stove ($1,600), and a Kenmore Elite 30.6 cu ft French door refrigerator. Just o

Key facts

• Laundry room pantry
• Two a/c units
• New water heater

Tags

• TWO A/C UNITS
• TWO SMART THERMOSTATS
• DUAL-OVEN GAS STOVE
• LAUNDRY ROOM PANTRY
• NEW WATER HEATER
• ACCESS TO THE BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $176k.

Deal economics

• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $176k).
• Cap rate 9.7% vs local median 3.6% in Mooresville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#201 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D+, amenities F, commute F.
• Mooresville Consolidated School Corporation (suburban): math 41% / reading 43% proficiency, ranked #111 of 301 in IN (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 137 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 330 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Morgan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $176,000

Questions for the listing agent

1. Built in 1965 — 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 D-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: 1.14% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.05%
• DSCR: 1.54
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $244,500
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
811 Edgewood Dr	0.38mi	4/2.0	1,566 (+4%)	0mo	$259,900	$166	75
80 Center Ln	0.45mi	3/2.0 (-1)	1,525 (+2%)	2mo	$177,700	$117	69
1125 Delwood Dr	0.17mi	3/1.0 (-1)	1,386 (-8%)	7mo	$197,500	$142	64
617 Nelson Dr	0.52mi	3/2.0 (-1)	1,593 (+6%)	1mo	$200,000	$126	60
820 Morningstar Dr	0.55mi	3/2.0 (-1)	1,550 (+3%)	8mo	$230,000	$148	58
91 Dunn Dr	0.35mi	3/1.0 (-1)	1,375 (-8%)	8mo	$235,000	$171	54
704 Morningstar Dr	0.61mi	3/2.0 (-1)	1,553 (+4%)	20mo	$258,000	$166	44
632 Nelson Dr	0.51mi	4/1.0	1,305 (-13%)	16mo	$182,900	$140	37
610 Rose Ln	0.54mi	3/1.0 (-1)	1,334 (-11%)	14mo	$218,000	$163	36
654 Nelson Dr	0.48mi	3/1.0 (-1)	1,305 (-13%)	22mo	$225,000	$172	29
187 St Clair St	0.74mi	4/1.0	1,316 (-12%)	20mo	$234,000	$178	24

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: 1.6%
• Equity multiple: 1.06×
• Total profit: $2,959
• Equity at exit: $26,242

10-year hold

• IRR: 11.2%
• Equity multiple: 1.87×
• Total profit: $42,969
• Equity at exit: $15,217

Cash invested: $49,280 (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 46158

• Home prices YoY: -26.3%
• Active inventory: 137
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$923
• Tax from tax record: −$89 /mo · $1,064/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $495

Break-even live

Break-even rent $1,373

Max offer price $176,000

Occupancy floor 70%

Sensitivity live

Price	-10% $595	-5% $545	+0% $495	+5% $445	+10% $395
Rent	-10% $337	-5% $416	+0% $495	+5% $574	+10% $653
Rate	-1.0pp $584	-0.5pp $540	base $495	+0.5pp $449	+1.0pp $403

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: $44,000
• Closing costs: $5,280
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 W Harrison St Mooresville, IN	3.0	2.0	1600	$2,000	$1.25	3d	1	1.32mi

Listing history 7 events

1. 2026-06-21
   days on market $176,000 Active 9 DOM
2. 2026-06-18
   days on market $176,000 Active 6 DOM
3. 2026-06-17
   days on market $176,000 Active 5 DOM
4. 2026-06-16
   days on market $176,000 Active 4 DOM
5. 2026-06-15
   days on market $176,000 Active 3 DOM
6. 2026-06-13
   remarks 675-char remark
7. 2026-06-13
   listed $176,000 Active 1 DOM

ⓘ 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: $1,064 · $89/mo
• Projected year-2 tax: $1,280 · $107/mo
• Expected delta: +$216/yr (+$18/mo · 20.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 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: $24,000
• − Mortgage interest: −$9,859
• − Property taxes: −$1,064
• − Insurance: −$880
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$5,120
• Taxable income: $3,237
• Est. tax owed @ 24.0%: −$777
• After-tax cash flow: $5,163/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: Mooresville Consolidated School Corporation
• NCES district ID: 1807140
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 43% ▼ -9.00%
• Median HH income: $59,316
• Composite: 37.04/100
• National rank: #4511
• State rank: #111 of 301 in IN

Livability — Mooresville

• Score: 69/100
• State rank: #201
• US rank: #8947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mooresville, IN
• City population: 24,622
• Population (ZIP): 24,622

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 71,081 people
• By 2030: 71,178 · +0.1%
• By 2040: 69,907 · -1.7%
• By 2050: 66,455 · -6.5%
• By 2075: 57,291 · -19.4%
• By 2100: 43,782 · -38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+54.3) · D 22.0% · R 76.3% · Other 1.7%
• 2008→2024 swing: -27.3pp toward R · 2008: -27.1pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+54.6 2016: R+56.6 2012: R+41.1 2008: R+27.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.62%
• Current HPI: 254.0837
• 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

1 event — show timeline

• 2026-06-13 Listed $176,000 FSBO.com

Property tax history

+4.7%/yr

Latest (2025): $1,064 · -48.9% YoY. Source: county tax records.