110 15th St · Logansport, IN 46947

$92,500

1 bd · 2.5 ba · 1,994 sqft · SingleFamily public records · 18 Days on market

Built 1910 3,172 sqft lot

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Why this score? — see what drove the C- 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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Say hello to this beautifully remodeled property right on 15th street. You will feel welcomed upon entering this spacious home. Natural light illuminates in the entire house. In the kitchen you will find the perfect space to bake cookies and make memories for years to come. The high vaulted ceilings add a beautiful touch of elegance. The kitchen also has great space for a reading corner to come curl up with a good book. There is a huge bonus room off of the kitchen to enjoy for a spare room, rec room, homeschool room, or easily be converted back into a garage. Large bedrooms. This home offers new appliances, counter tops, cabinets, fresh paint, bathrooms, floor, and roof. This place is ready for a new family to call it home.

Key facts

• Bonus room
• Dining room
• Updated kitchen

Tags

• UPDATED KITCHEN
• HIGH VAULTED CEILINGS
• BONUS ROOM
• OPEN CONCEPT LIVING ROOM
• DINING ROOM

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); Single-story
• Construction: Vinyl siding; Slab foundation; Built as site-built home
• Exterior features: Level lot

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom; 2 main-level bathrooms
• Interior features: 5 total rooms; Basement: crawl space, partial, unfinished
• Laundry & utility: Laundry on main level; Has heating (natural gas, forced air); No cooling

What this means for you Summary

Snapshot

• This is a 1-bed/2.5-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($960 rent vs $92k).
• Recommended offer: $91k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.4% in Logansport — 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 78/100 on livability (#34 in IN, #2,683 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, amenities A+, cost of living A+; Watch: commute F, employment D-.
• Logansport Community School Corporation (town): math 26% / reading 32% proficiency, ranked #252 of 301 in IN (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Landis Elementary School (math 38% / reading 36%, grade F, #550 of 994 statewide, top 57%, 853 students, 65% FRL); Logansport Junior High School (math 17% / reading 30%, grade F, #257 of 330 statewide, top 79%, 607 students, 67% FRL); Logansport Community High School (math 24% / reading 46%, grade F, #266 of 369 statewide, top 73%, 1,224 students, 62% FRL).
• Market conditions: 129 active listings in the ZIP; 22 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $640 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cass County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $91,112 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.04% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.64%
• DSCR: 1.30
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -9.9%
• Equity multiple: 0.64×
• Total profit: $-9,364
• Equity at exit: $13,792

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-817
• Equity at exit: $7,998

Cash invested: $25,900 (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 46947

• Home prices YoY: -28.9%
• Active inventory: 129
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $960 medium
• Mortgage (P&I): −$485
• Tax from tax record: −$91 /mo · $1,093/yr
• Insurance: −$39
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $88

Break-even live

Break-even rent $848

Max offer price $92,500

Occupancy floor 86%

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: $23,125
• Closing costs: $2,775
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $92,500 Active 18 DOM
2. 2026-06-17
   days on market $92,500 Active 17 DOM
3. 2026-06-16
   days on market $92,500 Active 16 DOM
4. 2026-06-15
   statusdays on market $92,500 Active 15 DOM
5. 2026-06-13
   days on market $92,500 Active Under Contract 13 DOM
6. 2026-06-12
   days on market $92,500 Active Under Contract 12 DOM
7. 2026-06-09
   statusdays on market $92,500 Active Under Contract 9 DOM
8. 2026-06-08
   days on market $92,500 Active 8 DOM
9. 2026-06-07
   days on market $92,500 Active 7 DOM
10. 2026-06-07
    days on market $92,500 Active 6 DOM
11. 2026-06-04
    days on market $92,500 Active 3 DOM
12. 2026-06-02
    days on market $92,500 Active 2 DOM
13. 2026-05-31
    remarks 460-char remark
14. 2026-05-31
    listed $92,500 Active 1 DOM

ⓘ 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: $1,093 · $91/mo
• Projected year-2 tax: $1,093 · $91/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,515
• − Mortgage interest: −$5,181
• − Property taxes: −$1,093
• − Insurance: −$1,129
• − Repairs & maintenance: −$921
• − Management: −$921
• − Depreciation: −$2,691
• Taxable loss: −$422
• Est. tax savings @ 24.0%: +$101
• After-tax cash flow: $1,155/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: Logansport Community School Corporation
• NCES district ID: 1806030
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $37,767
• Composite: 24.19/100
• National rank: #7733
• State rank: #252 of 301 in IN

Livability — Logansport

• Score: 78/100
• State rank: #34
• US rank: #2683

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Logansport, IN
• City population: 28,830
• Population (ZIP): 28,830

Population outlook (Cass County) Hauer SSP2

• Today (2025): 36,480 people
• By 2030: 35,390 · -3.0%
• By 2040: 33,077 · -9.3%
• By 2050: 30,631 · -16.0%
• By 2075: 25,426 · -30.3%
• By 2100: 20,617 · -43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 8% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 80% English-only · Spanish 17% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+46.2) · D 26.2% · R 72.4% · Other 1.4%
• 2008→2024 swing: -37.7pp toward R · 2008: -8.5pp · 2024: -46.2pp
• All cycles: 2024: R+46.2 2020: R+41.1 2016: R+42.0 2012: R+21.7 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.21%
• Current HPI: 223.8394
• 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

+302.2% since first listed

11 events — show timeline

• 2026-05-31 Listed $92,500 IRMLS
• 2023-03-23 Pending — IRMLS
• 2022-12-01 Pending — IRMLS
• 2020-12-30 Sold (MLS) $105,000 IRMLS
• 2020-12-30 Sold (MLS) $105,000 IRMLS
• 2020-12-30 Sold (MLS) $105,000 IRMLS
• 2020-08-17 Listed $112,000 IRMLS
• 2019-05-29 Listed $105,000 IRMLS
• 2017-08-28 Sold (MLS) $11,519 IRMLS
• 2017-04-19 Listed $14,000 IRMLS
• 2015-10-20 Listed $23,000 IRMLS

Property tax history

+9.1%/yr

Latest (2024): $1,093 · +10.2% YoY. Source: county tax records.