241 Beech St

Clinton, IN 47842

$134,900D+

3 bd · 1.0 ba · 1,680 sqft · Built 1924 · SingleFamily · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,201/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$129
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $112/mo
• Annual: $1,349/yr
• Cap rate: 7.29%
• Cash-on-cash: 3.57%
• DSCR: 1.16
• 1% rule: 0.89%
• Cash to close: $37,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $112 ($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 $120k (11.0% below list).
• It's been on market 16 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (11.0% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($933 loan paydown + $3k appreciation (2.0% local appreciation)).
• 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).
• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 48 active listings in the ZIP; 28 units permitted in Vermillion County in 2024 (0 in 5+ unit buildings).
• Vermillion County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.