539 S Main St · Montpelier, IN 47359

$87,000

3 bd · 1.0 ba · 2,181 sqft · SingleFamily public records · 1 Days on market

Built 1900 10,193 sqft lot Est $153k · 43% 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
• 1% rule +9.3/10.0
• Appreciation +8.4/10.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity awaits with this spacious 5-bedroom, 1-bath two-story home conveniently located near downtown Montpelier. Offering plenty of character and room to grow, this property features some hardwood flooring, a cozy fireplace, and a detached 2-car garage. The fenced yard provides space for pets, gardening, or outdoor gatherings. With its generous layout and classic features, this home offers excellent potential for an owner-occupant looking to build equity or an investor seeking their next project. Bring your ideas and vision to make this property shine once again!

Key facts

• Hardwood flooring
• Fenced yard
• Cozy fireplace

Tags

• HARDWOOD FLOORING
• COZY FIREPLACE
• DETACHED GARAGE
• FENCED YARD

Property features AI

Finance

• Other: Lot size approximately 0.23 acres; Basement: partial, unfinished

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single family residence; Two levels; Property condition: Fixer
• Construction: Aluminum and vinyl siding; Crawl space and poured concrete foundation
• Exterior features: Glass-enclosed patio; Patio; Privacy fence (fenced yard)

Interior

• Kitchen: Electric oven
• Bedrooms: Five bedrooms total — three on the main level, two on the upper level
• Flooring: Hardwood floors
• Bathrooms: One full bathroom
• Heating & cooling: Heating: Other; Cooling: Wall unit(s)
• Interior features: Hardwood floors; Woodwork stained or painted; Living room fireplace (wood-burning)
• Laundry & utility: Main level laundry; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).

Location & tenants

• Location reads 68/100 on livability (#230 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, schools D-, amenities F.
• Blackford County Schools (town): math 37% / reading 41% proficiency, ranked #164 of 301 in IN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 9 units permitted in Blackford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($601 loan paydown + $6k appreciation (6.7% local appreciation)).
• Blackford County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% 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 ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

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

Recommended offer $87,000

Questions for the listing agent

1. Built in 1900 — 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: 1.43% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.91%
• DSCR: 1.89
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $152,670
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 W Huntington St	0.39mi	3/1.0	2,001 (-8%)	1mo	$152,000	$76	68
215 E Monroe St	0.18mi	3/2.0	1,925 (-12%)	9mo	$100,000	$52	61
126 W Windsor St	0.47mi	3/1.5	1,991 (-9%)	4mo	$135,000	$68	58
314 S Jefferson St	0.23mi	4/2.0 (+1)	1,984 (-9%)	20mo	$138,000	$70	49
426 W Green St	0.39mi	3/2.5	2,048 (-6%)	21mo	$162,000	$79	48
205 E High St	0.40mi	3/2.0	2,400 (+10%)	15mo	$169,000	$70	48

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

Projected returns pro-forma

6.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.4%
• Equity multiple: 3.24×
• Total profit: $54,633
• Equity at exit: $58,697

10-year hold

• IRR: 30.5%
• Equity multiple: 6.74×
• Total profit: $139,727
• Equity at exit: $110,085

Cash invested: $24,360 (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 47359

• Home prices YoY: 3.0%
• Active inventory: 26
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,245 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$87 /mo · $1,047/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $404

Break-even live

Break-even rent $734

Max offer price $87,000

Occupancy floor 63%

Sensitivity live

Price	-10% $453	-5% $429	+0% $404	+5% $380	+10% $355
Rent	-10% $306	-5% $355	+0% $404	+5% $453	+10% $503
Rate	-1.0pp $448	-0.5pp $426	base $404	+0.5pp $382	+1.0pp $359

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 574-char remark

   Show marketing remark (574 chars)

   Opportunity awaits with this spacious 5-bedroom, 1-bath two-story home conveniently located near downtown Montpelier. Offering plenty of character and room to grow, this property features some hardwood flooring, a cozy fireplace, and a detached 2-car garage. The fenced yard provides space for pets, gardening, or outdoor gatherings. With its generous layout and classic features, this home offers excellent potential for an owner-occupant looking to build equity or an investor seeking their next project. Bring your ideas and vision to make this property shine once again!

2. 2026-06-18
   listed $87,000 Active 1 DOM

   Show marketing remark (574 chars)

   Opportunity awaits with this spacious 5-bedroom, 1-bath two-story home conveniently located near downtown Montpelier. Offering plenty of character and room to grow, this property features some hardwood flooring, a cozy fireplace, and a detached 2-car garage. The fenced yard provides space for pets, gardening, or outdoor gatherings. With its generous layout and classic features, this home offers excellent potential for an owner-occupant looking to build equity or an investor seeking their next project. Bring your ideas and vision to make this property shine once again!

ⓘ 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: $1,047 · $87/mo
• Projected year-2 tax: $1,047 · $87/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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $14,946
• − Mortgage interest: −$4,873
• − Property taxes: −$1,047
• − Insurance: −$435
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$2,531
• Taxable income: $3,668
• Est. tax owed @ 24.0%: −$880
• After-tax cash flow: $3,970/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: Blackford County Schools
• NCES district ID: 1800570
• Math proficiency: 37% ▼ -12.00%
• Reading proficiency: 41% ▼ -5.00%
• Median HH income: $39,653
• Composite: 32.67/100
• National rank: #5656
• State rank: #164 of 301 in IN

Livability — Montpelier

• Score: 68/100
• State rank: #230
• US rank: #9968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montpelier, IN
• City population: 3,688
• Population (ZIP): 3,688

Population outlook (Blackford County) Hauer SSP2

• Today (2025): 11,183 people
• By 2030: 10,542 · -5.7%
• By 2040: 9,292 · -16.9%
• By 2050: 8,176 · -26.9%
• By 2075: 6,549 · -41.4%
• By 2100: 5,636 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Iranian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 0% · Vietnam
• Languages at home: 98% English-only · Vietnamese 2%

Political lean MEDSL · Blackford

• 2024 margin: Solid R (+50.3) · D 23.9% · R 74.2% · Other 1.9%
• 2008→2024 swing: -50.1pp toward R · 2008: -0.2pp · 2024: -50.3pp
• All cycles: 2024: R+50.3 2020: R+46.1 2016: R+43.7 2012: R+16.5 2008: R+0.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.72%
• Current HPI: 231.2009
• 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

+16.0% since first listed

6 events — show timeline

• 2026-06-18 Listed $87,000 MIBOR as Distributed by MLS Grid
• 2026-06-18 Listed $87,000 IRMLS
• 2026-04-14 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-03-26 Price Changed $65,000 MIBOR as Distributed by MLS Grid
• 2026-03-04 Price Changed $70,000 MIBOR as Distributed by MLS Grid
• 2026-02-24 Listed $75,000 MIBOR as Distributed by MLS Grid

Property tax history

+6.1%/yr

Latest (2025): $1,047 · -48.2% YoY. Source: county tax records.