970 E North St · Mays, IN 46155

$199,900

3 bd · 2.5 ba · 1,654 sqft · SingleFamily public records · 163 Days on market

Built 1974 0.39 ac lot $121/sqft · 6% above area Est $188k · 6% over ↓ 10% since listing

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Why this score? — see what drove the D+ 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 +15.9/30.0
• Appreciation +5.0/10.0
• DSCR +4.9/10.0
• ARV discount +4.6/15.0
• 1% rule +4.0/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Located in northern Rush County, in MAYS, Indiana, this single-family residence offers an inviting home, poised to welcome you into a new chapter of comfortable living. Imagine preparing culinary delights in the kitchen, where the backsplash adds a touch of elegance, and appliances includes the double oven, gas cook-top range, dishwasher and refrigerator. The kitchen has access to the sunroom which provides an area to enjoy the changing seasons, and a bright and airy space for relaxation. The large living room is open to the designated dining area with built-in storage. The residence includes two full bathrooms, one featuring a walk-in shower, providing convenience. There is also a half bathroom located off laundry room and garage area. The laundry room offers a dedicated space for chores, and the washer/dryer are included in the sale. With three bedrooms and 1654 square feet of living area, this residence provides enough space to live comfortably. The expansive .39-acre lot with rear fenced in area and storage shed, offers outdoor space to enjoy. 2 car attached garage has storage areas and houses the mechanics of the home. Roof age is estimated around 8 years, and the HVAC is estimated around 2 years. Built in 1974 and designed as a one-story all brick home, this property is designed for practical living.

Key facts

• Fenced in area
• Sunroom
• Storage shed

Tags

• DOUBLE OVEN
• GAS COOK-TOP RANGE
• SUNROOM
• WALK-IN SHOWER
• FENCED IN AREA
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $97 ($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 $180k (10.0% below list).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Rush County Schools (town): math 38% / reading 41% proficiency, ranked #147 of 301 in IN (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 59 units permitted in Rush County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Rush County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 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 1974 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.90% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.08%
• DSCR: 1.09
• GRM: 9.3

CMA / ARV

• ARV (median comp): $187,876
• List price: $199,900
• Delta: 6.40%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 9.4%
• Equity multiple: 1.54×
• Total profit: $30,243
• Equity at exit: $89,884

10-year hold

• IRR: 11.9%
• Equity multiple: 2.77×
• Total profit: $99,037
• Equity at exit: $138,521

Cash invested: $55,972 (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 46155

• Active inventory: 3
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$194 /mo · $2,322/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $97

Break-even live

Break-even rent $1,677

Max offer price $199,900

Occupancy floor 90%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10201 N 150 E Lewisville, IN	3.0	2.0	2160	$1,800	$0.83	3d	1	1.10mi

Listing history 17 events

1. 2026-06-18
   days on market $199,900 Active 163 DOM
2. 2026-06-18
   price $199,900 Active 162 DOM
3. 2026-06-17
   days on market $224,500 Active 162 DOM
4. 2026-06-16
   days on market $224,500 Active 161 DOM
5. 2026-06-15
   days on market $224,500 Active 160 DOM
6. 2026-06-13
   days on market $224,500 Active 158 DOM
7. 2026-06-13
   pricedays on market $224,500 Active 157 DOM
8. 2026-06-09
   days on market $224,900 Active 154 DOM
9. 2026-06-08
   days on market $224,900 Active 153 DOM
10. 2026-06-07
    days on market $224,900 Active 152 DOM
11. 2026-06-05
    days on market $224,900 Active 149 DOM
12. 2026-06-03
    days on market $224,900 Active 148 DOM
13. 2026-06-02
    days on market $224,900 Active 147 DOM
14. 2026-06-01
    days on market $224,900 Active 146 DOM
15. 2026-05-31
    days on market $224,900 Active 145 DOM
16. 2026-04-13
    price $224,900 1330-char remark

    Show marketing remark (1330 chars)

    Located in northern Rush County, in MAYS, Indiana, this single-family residence offers an inviting home, poised to welcome you into a new chapter of comfortable living. Imagine preparing culinary delights in the kitchen, where the backsplash adds a touch of elegance, and appliances includes the double oven, gas cook-top range, dishwasher and refrigerator. The kitchen has access to the sunroom which provides an area to enjoy the changing seasons, and a bright and airy space for relaxation. The large living room is open to the designated dining area with built-in storage. The residence includes two full bathrooms, one featuring a walk-in shower, providing convenience. There is also a half bathroom located off laundry room and garage area. The laundry room offers a dedicated space for chores, and the washer/dryer are included in the sale. With three bedrooms and 1654 square feet of living area, this residence provides enough space to live comfortably. The expansive .39-acre lot with rear fenced in area and storage shed, offers outdoor space to enjoy. 2 car attached garage has storage areas and houses the mechanics of the home. Roof age is estimated around 8 years, and the HVAC is estimated around 2 years. Built in 1974 and designed as a one-story all brick home, this property is designed for practical living.

17. 2026-01-06
    listed $249,900 Active 1330-char remark

    Show marketing remark (1330 chars)

    Located in northern Rush County, in MAYS, Indiana, this single-family residence offers an inviting home, poised to welcome you into a new chapter of comfortable living. Imagine preparing culinary delights in the kitchen, where the backsplash adds a touch of elegance, and appliances includes the double oven, gas cook-top range, dishwasher and refrigerator. The kitchen has access to the sunroom which provides an area to enjoy the changing seasons, and a bright and airy space for relaxation. The large living room is open to the designated dining area with built-in storage. The residence includes two full bathrooms, one featuring a walk-in shower, providing convenience. There is also a half bathroom located off laundry room and garage area. The laundry room offers a dedicated space for chores, and the washer/dryer are included in the sale. With three bedrooms and 1654 square feet of living area, this residence provides enough space to live comfortably. The expansive .39-acre lot with rear fenced in area and storage shed, offers outdoor space to enjoy. 2 car attached garage has storage areas and houses the mechanics of the home. Roof age is estimated around 8 years, and the HVAC is estimated around 2 years. Built in 1974 and designed as a one-story all brick home, this property is designed for practical living.

ⓘ 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: $2,322 · $194/mo
• Projected year-2 tax: $2,322 · $194/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 · 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: $21,600
• − Mortgage interest: −$11,198
• − Property taxes: −$2,322
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$5,815
• Taxable loss: −$2,191
• Est. tax savings @ 24.0%: +$526
• After-tax cash flow: $1,688/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: Rush County Schools
• NCES district ID: 1809750
• Math proficiency: 38% ▼ -14.00%
• Reading proficiency: 41% ▼ -14.00%
• Median HH income: $46,237
• Composite: 33.72/100
• National rank: #5377
• State rank: #147 of 301 in IN

Livability — Mays

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Mays, IN
• City population: 71
• Population (ZIP): 71

Population outlook (Rush County) Hauer SSP2

• Today (2025): 15,654 people
• By 2030: 15,036 · -3.9%
• By 2040: 13,674 · -12.6%
• By 2050: 12,239 · -21.8%
• By 2075: 9,466 · -39.5%
• By 2100: 7,104 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Portuguese 15%

Political lean MEDSL · Rush

• 2024 margin: Solid R (+54.0) · D 21.9% · R 75.9% · Other 2.2%
• 2008→2024 swing: -40.4pp toward R · 2008: -13.7pp · 2024: -54.0pp
• All cycles: 2024: R+54.0 2020: R+54.0 2016: R+52.2 2012: R+34.3 2008: R+13.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-10.0% since first listed

2 events — show timeline

• 2026-04-13 Price Changed $224,900 MIBOR as Distributed by MLS Grid
• 2026-01-06 Listed $249,900 MIBOR as Distributed by MLS Grid

Property tax history

+11.2%/yr

Latest (2024): $2,322 · -0.2% YoY. Source: county tax records.