9482 E 100 South Rd · Greentown, IN 46936

$189,000

3 bd · 1.5 ba · 1,400 sqft · SingleFamily public records · 15 Days on market

Built 1975 0.47 ac lot $135/sqft · 16% below area Est $225k · 16% under

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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 +15.1/30.0
• ARV discount +14.7/15.0
• DSCR +4.6/10.0
• Schools +3.8/10.0
• Livability +3.4/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled in the countryside within a highly sought-after school district, this charming rural home features a timeless stone and wood exterior. The property sits on a peaceful half-acre lot surrounded by mature landscaping and an abundance of fruit trees—perfect for enjoying your own backyard harvest. Inside and out, you’ll find peace of mind with numerous recent updates including a newer roof, furnace, central air, water heater, and water softener. A spacious wood deck provides the ideal setting for relaxing evenings, morning coffee, or entertaining while taking in serene country views.

Key facts

• Half-acre lot
• Newer furnace
• Newer roof

Tags

• STONE AND WOOD EXTERIOR
• HALF-ACRE LOT
• MATURE LANDSCAPING
• FRUIT TREES
• NEWER ROOF
• NEWER FURNACE

Property features AI

Finance

• Other: Lot dimensions approximately 120 x 170 (0.47 acre)

Exterior

• Parking: Detached garage; 2 garage spaces; Gravel and concrete parking surfaces
• Utilities: Private well water; Septic tank; Cable available
• Home design: Single-family site-built home; One story
• Construction: Stone and wood siding exterior; Slab foundation; Built as site-built construction
• Exterior features: Deck; Level, landscaped lot

Interior

• Kitchen: Electric water heater; Water heater
• Bedrooms: 6 total rooms (bedroom count not specified)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Has heating and cooling
• Interior features: Eat-in kitchen; Kitchen island
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $61 ($732/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 $154k (18.5% below list).
• Recommended offer: $154k (18.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#243 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Eastern Howard School Corporation (town): math 40% / reading 47% proficiency, ranked #100 of 301 in IN (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastern Elementary School (math 50% / reading 39%, grade F, #379 of 994 statewide, top 41%, 770 students, 45% FRL); Eastern Middle School (math 30% / reading 44%, grade F, #152 of 330 statewide, top 47%, 397 students, 48% FRL); Eastern High School (math 42% / reading 82%, grade B-, #41 of 369 statewide, top 12%, 467 students, 42% FRL) — zoned schools average 45% FRL vs 24% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 30 active listings in the ZIP; 194 units permitted in Howard County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Howard County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.

Recommended offer $154,087 (18.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.82% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.38%
• DSCR: 1.06
• GRM: 10.2

CMA / ARV

• ARV (median comp): $224,977
• List price: $189,000
• Delta: -15.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9482 E 100 South Rd	0.00mi	3/1.0	1,400 (0%)	0mo	$200,000	$143	98
229 S 950 East	0.73mi	3/2.0	1,272 (-9%)	22mo	$225,000	$177	30

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: -14.1%
• Equity multiple: 0.49×
• Total profit: $-26,811
• Equity at exit: $28,181

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-18,624
• Equity at exit: $16,341

Cash invested: $52,920 (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 46936

• Home prices YoY: -24.1%
• Active inventory: 30
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,541 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$86 /mo · $1,037/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $61

Break-even live

Break-even rent $1,464

Max offer price $189,000

Occupancy floor 91%

Sensitivity live

Price	-10% $168	-5% $114	+0% $61	+5% $7	+10% $-46
Rent	-10% $-61	-5% $0	+0% $61	+5% $122	+10% $183
Rate	-1.0pp $156	-0.5pp $109	base $61	+0.5pp $12	+1.0pp $-38

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-04
   listed $189,000 Active 605-char remark

ⓘ 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: $1,037 · $86/mo
• Projected year-2 tax: $1,322 · $110/mo
• Expected delta: +$285/yr (+$24/mo · 27.5%)

ⓘ 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 ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,490
• − Mortgage interest: −$10,587
• − Property taxes: −$1,037
• − Insurance: −$945
• − Repairs & maintenance: −$1,479
• − Management: −$1,479
• − Depreciation: −$5,498
• Taxable loss: −$2,535
• Est. tax savings @ 24.0%: +$608
• After-tax cash flow: $1,340/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: Eastern Howard School Corporation
• NCES district ID: 1803150
• Math proficiency: 40% ▼ -6.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $58,636
• Composite: 38.2/100
• National rank: #4255
• State rank: #100 of 301 in IN

Livability — Greentown

• Score: 67/100
• State rank: #243
• US rank: #10353

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,956

Population outlook (Howard County) Hauer SSP2

• Today (2025): 81,522 people
• By 2030: 80,104 · -1.7%
• By 2040: 76,708 · -5.9%
• By 2050: 72,880 · -10.6%
• By 2075: 64,016 · -21.5%
• By 2100: 51,705 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3% Black 1%
• Common ancestry: Italian 3% Portuguese 2% Slovak 1%
• Foreign-born: 1%

Political lean MEDSL · Howard

• 2024 margin: Solid R (+35.3) · D 31.4% · R 66.7% · Other 1.8%
• 2008→2024 swing: -29.1pp toward R · 2008: -6.2pp · 2024: -35.3pp
• All cycles: 2024: R+35.3 2020: R+32.4 2016: R+33.9 2012: R+14.3 2008: R+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.91%
• Current HPI: 211.2334
• 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

+5.8% since first listed

3 events — show timeline

• 2026-06-11 Sold (MLS) $200,000 IRMLS
• 2026-05-19 Pending — IRMLS
• 2026-05-04 Listed $189,000 IRMLS

Property tax history

+6.3%/yr

Latest (2024): $1,037 · +6.0% YoY. Source: county tax records.