403 W 3rd St · Bicknell, IN 47512

$89,900

3 bd · 1.0 ba · 1,486 sqft · SingleFamily public records · 85 Days on market

Built 1919 9,583 sqft lot $60/sqft · 20% below area Est $112k · 20% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment property, or with a little TLC you could make this home. Home features a large living room, dining room, 3 bedrooms, full unfinished basement, and a large backyard.

Key facts

• Large backyard
• Large living room
• Dining room

Tags

• LARGE LIVING ROOM
• DINING ROOM
• FULL UNFINISHED BASEMENT
• LARGE BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $364 ($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: $85k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#373 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: health & safety C-, schools F, amenities F.
• North Knox School Corporation (rural): math 28% / reading 45% proficiency, ranked #186 of 301 in IN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 34 active listings in the ZIP; 36 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Knox County population projected at -13% 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 $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago 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.
• Current owner paid $53k; list at $90k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — 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: 1.31% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.35%
• DSCR: 1.77
• GRM: 6.4

CMA / ARV

• ARV (median comp): $111,891
• List price: $89,900
• Delta: -19.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 West 5th St	0.18mi	2/2.0 (-1)	1,452 (-2%)	13mo	$143,000	$98	68
602 Alton St	0.20mi	3/2.5	1,554 (+5%)	13mo	$173,000	$111	67
504 S Maple St	0.32mi	3/1.0	1,374 (-8%)	9mo	$140,000	$102	65
631 W 8th St	0.51mi	3/2.0	1,508 (+2%)	8mo	$135,000	$90	63
707 W 4th St	0.22mi	3/2.0	1,320 (-11%)	6mo	$144,900	$110	62
308 S Main St	0.28mi	2/1.0 (-1)	1,364 (-8%)	14mo	$105,000	$77	56
308 E 8th St	0.37mi	2/1.5 (-1)	1,416 (-5%)	14mo	$139,900	$99	56
311 Liberty St	0.38mi	3/2.0	1,698 (+14%)	0mo	$206,048	$121	54
617 S Indiana St	0.49mi	3/2.0	1,300 (-12%)	0mo	$138,500	$107	52
213 W 11th St	0.53mi	3/1.0	1,328 (-11%)	7mo	$25,000	$19	52
825 S Illinois St	0.63mi	4/2.0 (+1)	1,600 (+8%)	4mo	$166,000	$104	46
211 W 11th St	0.52mi	3/2.0	1,336 (-10%)	14mo	$120,000	$90	44

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: 8.7%
• Equity multiple: 1.34×
• Total profit: $8,600
• Equity at exit: $13,404

10-year hold

• IRR: 17.9%
• Equity multiple: 2.48×
• Total profit: $37,272
• Equity at exit: $7,773

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 47512

• Home prices YoY: -32.1%
• Active inventory: 34
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,174 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$55 /mo · $657/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $364

Break-even live

Break-even rent $713

Max offer price $89,900

Occupancy floor 64%

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 23 events

1. 2026-06-18
   days on market $89,900 Active 85 DOM
2. 2026-06-17
   days on market $89,900 Active 84 DOM
3. 2026-06-16
   days on market $89,900 Active 83 DOM
4. 2026-06-15
   days on market $89,900 Active 82 DOM
5. 2026-06-13
   days on market $89,900 Active 80 DOM
6. 2026-06-12
   days on market $89,900 Active 79 DOM
7. 2026-06-09
   days on market $89,900 Active 76 DOM
8. 2026-06-08
   days on market $89,900 Active 75 DOM
9. 2026-06-07
   days on market $89,900 Active 74 DOM
10. 2026-06-05
    days on market $89,900 Active 72 DOM
11. 2026-06-04
    days on market $89,900 Active 70 DOM
12. 2026-06-02
    days on market $89,900 Active 69 DOM
13. 2026-06-01
    days on market $89,900 Active 68 DOM
14. 2026-05-31
    days on market $89,900 Active 67 DOM
15. 2026-05-31
    days on market $89,900 Active 66 DOM
16. 2026-05-08
    status Active 181-char remark

    Show marketing remark (181 chars)

    Great investment property, or with a little TLC you could make this home. Home features a large living room, dining room, 3 bedrooms, full unfinished basement, and a large backyard.

17. 2026-04-08
    status Pending 181-char remark

    Show marketing remark (181 chars)

    Great investment property, or with a little TLC you could make this home. Home features a large living room, dining room, 3 bedrooms, full unfinished basement, and a large backyard.

18. 2026-03-04
    status Active 181-char remark

    Show marketing remark (181 chars)

    Great investment property, or with a little TLC you could make this home. Home features a large living room, dining room, 3 bedrooms, full unfinished basement, and a large backyard.

19. 2026-02-19
    status Pending 181-char remark

    Show marketing remark (181 chars)

    Great investment property, or with a little TLC you could make this home. Home features a large living room, dining room, 3 bedrooms, full unfinished basement, and a large backyard.

20. 2026-02-10
    listed $89,900 Active 181-char remark

    Show marketing remark (181 chars)

    Great investment property, or with a little TLC you could make this home. Home features a large living room, dining room, 3 bedrooms, full unfinished basement, and a large backyard.

21. 2020-11-03
    soldstatus $53,000 268-char remark

    Show marketing remark (268 chars)

    Remodeled interior home that features a lot of space, charm, and other warm characteristics! Enjoy spending time in the large living room with family and friends!! This home features 3 bedrooms, and numerous other newer updates such as furnace, ac, and a newer roof.

22. 2020-03-26
    listed $57,900 268-char remark

    Show marketing remark (268 chars)

    Remodeled interior home that features a lot of space, charm, and other warm characteristics! Enjoy spending time in the large living room with family and friends!! This home features 3 bedrooms, and numerous other newer updates such as furnace, ac, and a newer roof.

23. 2012-09-18
    soldstatus $75,000

ⓘ 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: $657 · $55/mo
• Projected year-2 tax: $711 · $59/mo
• Expected delta: +$54/yr (+$4/mo · 8.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $14,091
• − Mortgage interest: −$5,036
• − Property taxes: −$657
• − Insurance: −$450
• − Repairs & maintenance: −$1,127
• − Management: −$1,127
• − Depreciation: −$2,615
• Taxable income: $3,079
• Est. tax owed @ 24.0%: −$739
• After-tax cash flow: $3,629/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: North Knox School Corporation
• NCES district ID: 1807830
• Math proficiency: 28% ▼ -11.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $42,553
• Composite: 30.82/100
• National rank: #6139
• State rank: #186 of 301 in IN

Livability — Bicknell

• Score: 64/100
• State rank: #373
• US rank: #13970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bicknell, IN
• City population: 4,216
• Population (ZIP): 4,216

Population outlook (Knox County) Hauer SSP2

• Today (2025): 37,092 people
• By 2030: 36,271 · -2.2%
• By 2040: 34,196 · -7.8%
• By 2050: 32,405 · -12.6%
• By 2075: 28,754 · -22.5%
• By 2100: 24,110 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Italian 3% Lithuanian 1% Iranian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Tagalog/Filipino 1% Spanish 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+50.4) · D 24.0% · R 74.4% · Other 1.6%
• 2008→2024 swing: -43.9pp toward R · 2008: -6.5pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+47.4 2016: R+47.2 2012: R+28.9 2008: R+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.85%
• Current HPI: 191.8851
• 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

+19.9% since first listed

8 events — show timeline

• 2026-05-08 Relisted — IRMLS
• 2026-04-08 Pending — IRMLS
• 2026-03-04 Relisted — IRMLS
• 2026-02-19 Pending — IRMLS
• 2026-02-10 Listed $89,900 IRMLS
• 2020-11-03 Sold (MLS) $53,000 IRMLS
• 2020-03-26 Listed $57,900 IRMLS
• 2012-09-18 Sold (Public Records) $75,000 Public Records

Property tax history

-7.7%/yr

Latest (2024): $657 · -42.4% YoY. Source: county tax records.