416 S 3rd Street St · Clinton, IN 47842

$124,900

4 bd · 1.5 ba · 2,520 sqft · SingleFamily public records · 180 Days on market

Built 1869 6,534 sqft lot Est $186k · 33% under ↓ 4% since listing

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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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• Appreciation +6.0/10.0
• 1% rule +5.3/10.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

What an amazing home with lots of space and tons of potential. Home boasts 2520 square feet of living space. 4 bedrooms and 1.5 baths. Beautiful wood trim and accents add to the character of this historical charmer. Private back yard adds to the charm of this home. What an awesome work shop or could be converted in to additional storage. Stunning entry with staircase. Covered front porch provides a great space for relaxation.

Key facts

• Covered front porch
• Private back yard
• Work shop

Tags

• PRIVATE BACK YARD
• WORK SHOP
• COVERED FRONT PORCH

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Covered patio/porch; Outbuilding

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Flooring: Carpet; Ceramic tile; Hardwood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fans
• Interior features: Unfinished basement; 9 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 6.3% in Clinton — 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 62/100 on livability (#474 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• South Vermillion Community School Corporation (rural): math 31% / reading 42% proficiency, ranked #182 of 301 in IN (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Elementary School (math 27% / reading 37%, grade F, #652 of 994 statewide, top 68%, 302 students, 64% FRL); South Vermillion High School (math 27% / reading 62%, grade F, #169 of 369 statewide, top 51%, 478 students, 54% FRL).
• Market conditions: 48 active listings in the ZIP; 28 units permitted in Vermillion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($864 loan paydown + $2k appreciation (2.0% local appreciation)).
• Vermillion County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1869 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1869 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.09%
• DSCR: 1.36
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $186,480
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
660 Mulberry St	0.35mi	4/2.0	2,392 (-5%)	3mo	$177,000	$74	70
242 Walnut St	0.06mi	3/1.0 (-1)	2,306 (-8%)	7mo	$189,000	$82	70
559 S 4th St	0.15mi	3/2.0 (-1)	2,264 (-10%)	20mo	$168,000	$74	52
626 N Main St	0.71mi	3/2.0 (-1)	2,364 (-6%)	6mo	$185,000	$78	44
1044 S 4th St	0.44mi	3/1.0 (-1)	2,202 (-13%)	23mo	$120,000	$54	32

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

Projected returns pro-forma

1.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.67×
• Total profit: $23,448
• Equity at exit: $49,161

10-year hold

• IRR: 15.2%
• Equity multiple: 3.03×
• Total profit: $70,947
• Equity at exit: $70,713

Cash invested: $34,972 (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 47842

• Home prices YoY: 1.0%
• Active inventory: 48
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,288 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$75 /mo · $897/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $236

Break-even live

Break-even rent $990

Max offer price $124,900

Occupancy floor 77%

Sensitivity live

Price	-10% $306	-5% $271	+0% $236	+5% $200	+10% $165
Rent	-10% $134	-5% $185	+0% $236	+5% $287	+10% $337
Rate	-1.0pp $299	-0.5pp $267	base $236	+0.5pp $203	+1.0pp $170

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $124,900 Active 180 DOM
2. 2026-06-21
   days on market $124,900 Active 179 DOM
3. 2026-06-18
   days on market $124,900 Active 177 DOM
4. 2026-06-17
   days on market $124,900 Active 176 DOM
5. 2026-06-16
   days on market $124,900 Active 175 DOM
6. 2026-06-15
   days on market $124,900 Active 174 DOM
7. 2026-06-13
   days on market $124,900 Active 172 DOM
8. 2026-06-12
   days on market $124,900 Active 171 DOM
9. 2026-06-09
   days on market $124,900 Active 168 DOM
10. 2026-06-08
    days on market $124,900 Active 167 DOM
11. 2026-06-07
    days on market $124,900 Active 166 DOM
12. 2026-06-07
    days on market $124,900 Active 165 DOM
13. 2026-06-04
    days on market $124,900 Active 162 DOM
14. 2026-06-02
    days on market $124,900 Active 161 DOM
15. 2026-06-01
    days on market $124,900 Active 160 DOM
16. 2026-05-31
    days on market $124,900 Active 159 DOM
17. 2026-05-31
    days on market $124,900 Active 158 DOM
18. 2026-04-17
    price $124,900
19. 2025-12-22
    listed $129,900 Active

ⓘ 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: $897 · $75/mo
• Projected year-2 tax: $979 · $82/mo
• Expected delta: +$82/yr (+$7/mo · 9.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,455
• − Mortgage interest: −$6,996
• − Property taxes: −$897
• − Insurance: −$624
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$3,633
• Taxable income: $831
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $2,629/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: South Vermillion Community School Corporation
• NCES district ID: 1810590
• Math proficiency: 31% ▼ -6.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $42,809
• Composite: 30.87/100
• National rank: #6123
• State rank: #182 of 301 in IN

Livability — Clinton

• Score: 62/100
• State rank: #474
• US rank: #16763

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clinton, IN
• Population (ZIP): 9,675

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 (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Italian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 0%

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: ▲ 1.98%
• Current HPI: 201.465
• 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

-3.8% since first listed

2 events — show timeline

• 2026-04-17 Price Changed $124,900 THAAR
• 2025-12-22 Listed $129,900 THAAR

Property tax history

+30.0%/yr

Latest (2024): $897 · +33.7% YoY. Source: county tax records.