1329 Honecker Ln · Brookville, IN 47012

$75,000

2 bd · 1.0 ba · 828 sqft · SingleFamily · 31 Days on market

Built 1969 Fair condition 0.44 ac lot Est $145k · 48% 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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.5/10.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

The standout feature of this property is the impressive garage/pole barn, offering abundant space for vehicles, equipment, storage, workshop needs, or recreational toys. Conveniently located in Brookville, this affordable property combines practical living space with the kind of garage space that's hard to find. Whether you're a hobbyist, collector, contractor, or simply need extra room, you'll appreciate the versatility and potential this property provides. Mobile home is being sold as is.

Key facts

• Workshop space
• Garage pole barn
• Garage space

Tags

• GARAGE SPACE
• GARAGE POLE BARN
• WORKSHOP SPACE

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Aluminum siding
• Exterior features: Shingle roof; Barn(s) on the property; Lot dimensions approximately 103 x 184 (0.44 acre)

Interior

• Bathrooms: 1 full bathroom
• Interior features: Electric water heater; 4 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($861 rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#92 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: health & safety C-, amenities F, commute F.
• Zoned schools: Franklin County Middle School (math 29% / reading 37%, grade F, #180 of 330 statewide, top 56%, 358 students, 53% FRL); Franklin County High (math 27% / reading 57%, grade F, #197 of 369 statewide, top 57%, 713 students, 44% FRL).
• Market conditions: 4 active listings in the ZIP; 58 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Franklin County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.15% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.24%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $144,900
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1341 Fairfield Ave	0.03mi	2/1.0	876 (+6%)	1mo	$140,000	$160	88
511 E 6th St	0.73mi	2/1.0	742 (-10%)	11mo	$130,000	$175	39

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-1,840
• Equity at exit: $11,183

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $11,714
• Equity at exit: $6,485

Cash invested: $21,000 (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 47012

• Home prices YoY: -27.1%
• Active inventory: 4
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $861 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $162

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 76%

Sensitivity live

Price	-10% $214	-5% $188	+0% $162	+5% $136	+10% $110
Rent	-10% $94	-5% $128	+0% $162	+5% $196	+10% $230
Rate	-1.0pp $199	-0.5pp $181	base $162	+0.5pp $142	+1.0pp $123

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   statusdays on market $75,000 Pending 31 DOM
2. 2026-06-18
   days on market $75,000 Active 30 DOM
3. 2026-06-17
   days on market $75,000 Active 29 DOM
4. 2026-06-16
   days on market $75,000 Active 28 DOM
5. 2026-06-15
   days on market $75,000 Active 27 DOM
6. 2026-06-13
   days on market $75,000 Active 25 DOM
7. 2026-06-13
   remarks 495-char remark
8. 2026-06-13
   days on market $75,000 Active 24 DOM
9. 2026-06-09
   days on market $75,000 Active 21 DOM
10. 2026-06-08
    days on market $75,000 Active 20 DOM
11. 2026-06-07
    days on market $75,000 Active 19 DOM
12. 2026-06-04
    days on market $75,000 Active 16 DOM
13. 2026-06-03
    days on market $75,000 Active 15 DOM
14. 2026-06-02
    days on market $75,000 Active 14 DOM
15. 2026-06-01
    days on market $75,000 Active 13 DOM
16. 2026-05-31
    days on market $75,000 Active 12 DOM
17. 2026-05-19
    listed $75,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 20 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: $10,330
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$826
• − Management: −$826
• − Depreciation: −$2,182
• Taxable income: $794
• Est. tax owed @ 24.0%: −$191
• After-tax cash flow: $1,750/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate renovations, including kitchen and bathroom updates, flooring replacement, and painting. The property has a good-sized garage and is located in a small town, which could be a positive factor for rental value.

Repairs flagged

• Major Kitchen cabinets — Worn and outdated, likely in need of replacement
• Major Bathroom fixtures — Outdated and possibly in need of replacement
• Major Flooring — Linoleum in poor condition, likely in need of replacement
• Major Paint — Interior walls and exterior siding could benefit from repainting

Value-add opportunities

• Resale Kitchen renovation — Updating the kitchen will significantly improve the home's appeal and value
• Resale Bathroom renovation — Updating the bathroom will improve the home's appeal and value
• Resale Flooring replacement — Replacing the linoleum flooring will improve the home's appearance and value
• Resale Painting — Repainting the interior and exterior will improve the home's appearance and value
• Both Landscaping — Landscaping will improve the home's curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and outdated, likely in need of replacement	Major	$15,000–50,000
Bathroom fixtures · Outdated and possibly in need of replacement	Major	$15,000–50,000
Flooring · Linoleum in poor condition, likely in need of replacement	Major	$15,000–50,000
Paint · Interior walls and exterior siding could benefit from repainting	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale Kitchen renovation — Updating the kitchen will significantly improve the home's appeal and value ↑
• Resale Bathroom renovation — Updating the bathroom will improve the home's appeal and value ↑
• Resale Flooring replacement — Replacing the linoleum flooring will improve the home's appearance and value ↑
• Resale Painting — Repainting the interior and exterior will improve the home's appearance and value ↑
• Both Landscaping — Landscaping will improve the home's curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

No district data.

Livability — Brookville

• Score: 73/100
• State rank: #92
• US rank: #5309

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: Brookville, IN
• Population (ZIP): 10,891

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 22,796 people
• By 2030: 22,556 · -1.1%
• By 2040: 21,762 · -4.5%
• By 2050: 20,575 · -9.7%
• By 2075: 17,810 · -21.9%
• By 2100: 13,698 · -39.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 1% Romanian 1%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 96% English-only · Korean 2% Vietnamese 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+64.4) · D 17.1% · R 81.5% · Other 1.3%
• 2008→2024 swing: -30.3pp toward R · 2008: -34.1pp · 2024: -64.4pp
• All cycles: 2024: R+64.4 2020: R+63.0 2016: R+60.9 2012: R+42.8 2008: R+34.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.81%
• Current HPI: 223.2183
• 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

2 events — show timeline

• 2026-06-19 Pending — SEIBR
• 2026-05-19 Listed $75,000 SEIBR