218 N Jackson St · Winchester, IN 47394

$89,900

4 bd · 1.0 ba · 1,699 sqft · SingleFamily public records · 31 Days on market

Built 1900 8,712 sqft lot Est $153k · 41% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.3/10.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious 3-4 bedroom, 1 bathroom home in Winchester! This property features large living spaces, main floor laundry, a generously sized bathroom, and a flexible layout with multiple bedroom options. Upstairs includes a bright loft area and two additional bedrooms filled with natural light. A great opportunity with plenty of space for a growing family or future updates.

Key facts

• Flexible layout
• Main floor laundry
• Bright loft area

Tags

• MAIN FLOOR LAUNDRY
• BRIGHT LOFT AREA
• FLEXIBLE LAYOUT

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); Two stories
• Construction: Vinyl siding; Asphalt, metal, and shingle roof
• Exterior features: No fencing; Shed(s) on the property

Interior

• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas heating; Baseboard heating; Window cooling units
• Interior features: Two fireplaces (living room; free standing); Basement is partial, unfinished with crawl space
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 5.1% in Winchester — 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 67/100 on livability (#240 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety D, amenities F, commute F.
• Randolph Central School Corporation (town): math 32% / reading 37% proficiency, ranked #201 of 301 in IN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lee L Driver Middle School (math 27% / reading 33%, grade F, #208 of 330 statewide, top 64%, 291 students, 56% FRL); Winchester Community High School (math 17% / reading 47%, grade F, #295 of 369 statewide, top 82%, 414 students, 47% FRL).
• Market conditions: 52 active listings in the ZIP; 19 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Randolph County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.43% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.61%
• DSCR: 1.74
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $152,910
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
625 N West St	0.38mi	4/1.0	1,588 (-6%)	2mo	$135,000	$85	70
549 W Franklin St	0.20mi	4/2.0	1,860 (+10%)	13mo	$197,000	$106	60
603 Stone St	0.64mi	3/2.0 (-1)	1,648 (-3%)	3mo	$148,500	$90	54
2 Crestwood Dr	0.60mi	3/2.0 (-1)	1,650 (-3%)	6mo	$259,900	$158	53
701 N Main St	0.50mi	4/2.0	1,599 (-6%)	14mo	$167,900	$105	51
317 E North St	0.55mi	4/3.0	1,810 (+6%)	6mo	$199,900	$110	50
418 N Main St	0.36mi	3/1.0 (-1)	1,472 (-13%)	7mo	$99,900	$68	50
619 Residence St	0.57mi	3/1.0 (-1)	1,840 (+8%)	8mo	$50,000	$27	48
410 Thompson St	0.72mi	4/1.0	1,864 (+10%)	6mo	$140,000	$75	46
404 E Thompson St	0.71mi	3/2.0 (-1)	1,574 (-7%)	0mo	$175,000	$111	45
619 Richmond St	0.70mi	4/1.5	1,520 (-10%)	9mo	$125,000	$82	40
426 E South St	0.72mi	3/1.5 (-1)	1,922 (+13%)	9mo	$99,000	$52	30

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.6%
• Equity multiple: 3.83×
• Total profit: $71,199
• Equity at exit: $80,989

10-year hold

• IRR: 31.5%
• Equity multiple: 8.64×
• Total profit: $192,309
• Equity at exit: $174,656

Cash invested: $25,172 (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 47394

• Home prices YoY: 6.8%
• Active inventory: 52
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,282 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$155 /mo · $1,862/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $348

Break-even live

Break-even rent $841

Max offer price $89,900

Occupancy floor 68%

Sensitivity live

Price	-10% $399	-5% $374	+0% $348	+5% $323	+10% $298
Rent	-10% $247	-5% $298	+0% $348	+5% $399	+10% $450
Rate	-1.0pp $394	-0.5pp $371	base $348	+0.5pp $325	+1.0pp $301

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $89,900 Active 31 DOM
2. 2026-06-18
   days on market $89,900 Active 29 DOM
3. 2026-06-17
   price $89,900 Active 28 DOM
4. 2026-06-17
   days on market $109,900 Active 28 DOM
5. 2026-06-16
   days on market $109,900 Active 27 DOM
6. 2026-06-15
   days on market $109,900 Active 26 DOM
7. 2026-06-13
   days on market $109,900 Active 24 DOM
8. 2026-06-12
   days on market $109,900 Active 23 DOM
9. 2026-06-09
   days on market $109,900 Active 20 DOM
10. 2026-06-08
    days on market $109,900 Active 19 DOM
11. 2026-06-07
    days on market $109,900 Active 18 DOM
12. 2026-06-04
    days on market $109,900 Active 14 DOM
13. 2026-06-02
    days on market $109,900 Active 13 DOM
14. 2026-06-01
    days on market $109,900 Active 12 DOM
15. 2026-05-31
    days on market $109,900 Active 11 DOM
16. 2026-05-31
    days on market $109,900 Active 10 DOM
17. 2026-05-20
    listed $109,900 Active

    Show marketing remark (371 chars)

    Spacious 3-4 bedroom, 1 bathroom home in Winchester! This property features large living spaces, main floor laundry, a generously sized bathroom, and a flexible layout with multiple bedroom options. Upstairs includes a bright loft area and two additional bedrooms filled with natural light. A great opportunity with plenty of space for a growing family or future updates.

18. 2026-05-20
    listed $109,900 Active 371-char remark

    Show marketing remark (371 chars)

    Spacious 3-4 bedroom, 1 bathroom home in Winchester! This property features large living spaces, main floor laundry, a generously sized bathroom, and a flexible layout with multiple bedroom options. Upstairs includes a bright loft area and two additional bedrooms filled with natural light. A great opportunity with plenty of space for a growing family or future updates.

ⓘ 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: $1,862 · $155/mo
• Projected year-2 tax: $1,862 · $155/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,380
• − Mortgage interest: −$5,036
• − Property taxes: −$1,862
• − Insurance: −$450
• − Repairs & maintenance: −$1,230
• − Management: −$1,230
• − Depreciation: −$2,615
• Taxable income: $2,956
• Est. tax owed @ 24.0%: −$710
• After-tax cash flow: $3,472/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: Randolph Central School Corporation
• NCES district ID: 1801770
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $41,627
• Composite: 29.12/100
• National rank: #6589
• State rank: #201 of 301 in IN

Livability — Winchester

• Score: 67/100
• State rank: #240
• US rank: #10313

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winchester, IN
• City population: 8,137
• Population (ZIP): 8,137

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 22,998 people
• By 2030: 21,815 · -5.1%
• By 2040: 19,360 · -15.8%
• By 2050: 17,010 · -26.0%
• By 2075: 12,491 · -45.7%
• By 2100: 8,986 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+53.7) · D 22.3% · R 75.9% · Other 1.8%
• 2008→2024 swing: -44.9pp toward R · 2008: -8.8pp · 2024: -53.7pp
• All cycles: 2024: R+53.7 2020: R+52.4 2016: R+48.5 2012: R+24.1 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.76%
• Current HPI: 233.216
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-20 Listed $109,900 RRELMS
• 2026-05-20 Listed $109,900 IRMLS

Property tax history

+4.4%/yr

Latest (2024): $1,862 · -8.5% YoY. Source: county tax records.