8921 S Main St · Ora, IN 46968

$64,000

3 bd · 1.0 ba · 1,668 sqft · SingleFamily public records · 121 Days on market

Built 1990 0.59 ac lot $38/sqft · 54% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great investment opportunity just south of Bass Lake! Situated on a large lot of over half an acre, this 3-bedroom, 1-bath home offers plenty of space and potential. Features include a detached 2-car garage and a generous yard. Property needs repairs and updates and is being sold as-is, ideal for investors or buyers ready to take on a project. Seller financing available, providing flexible options for the right buyer. Bring your vision and capitalize on this promising location!

Key facts

• Generous yard
• Large lot
• Promising location

Tags

• LARGE LOT
• DETACHED GARAGE
• GENEROUS YARD
• PROMISING LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $56k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Culver Community Schools Corporation (rural): math 27% / reading 35% proficiency, ranked #236 of 301 in IN (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 58 units permitted in Starke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($442 loan paydown + $2k appreciation (3.0% local appreciation)).
• Starke County population projected at -23% 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $6k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $64k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $56,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.90% ✓
• Cap rate: 16.15%
• Cash-on-cash: 35.19%
• DSCR: 2.57
• GRM: 4.4

CMA / ARV

• ARV (median comp): $139,908
• List price: $64,000
• Delta: -54.26%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8840 S Main St	0.09mi	3/1.0	1,677 (+0%)	9mo	$36,000	$21	88

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: 36.6%
• Equity multiple: 3.06×
• Total profit: $36,998
• Equity at exit: $28,777

10-year hold

• IRR: 36.7%
• Equity multiple: 6.07×
• Total profit: $90,821
• Equity at exit: $44,349

Cash invested: $17,920 (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 46968

• Active inventory: 3
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,213 medium
• Mortgage (P&I): −$336
• Tax from tax record: −$71 /mo · $849/yr
• Insurance: −$27
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $459

Break-even live

Break-even rent $632

Max offer price $64,000

Occupancy floor 57%

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $64,000 Active 121 DOM
2. 2026-06-18
   days on market $64,000 Active 120 DOM
3. 2026-06-17
   days on market $64,000 Active 119 DOM
4. 2026-06-16
   days on market $64,000 Active 118 DOM
5. 2026-06-15
   days on market $64,000 Active 117 DOM
6. 2026-06-14
   days on market $64,000 Active 115 DOM
7. 2026-06-12
   days on market $64,000 Active 114 DOM
8. 2026-06-09
   days on market $64,000 Active 111 DOM
9. 2026-06-08
   days on market $64,000 Active 110 DOM
10. 2026-06-07
    days on market $64,000 Active 109 DOM
11. 2026-06-07
    days on market $64,000 Active 108 DOM
12. 2026-06-02
    days on market $64,000 Active 104 DOM
13. 2026-06-01
    days on market $64,000 Active 103 DOM
14. 2026-05-31
    days on market $64,000 Active 102 DOM
15. 2026-05-30
    days on market $64,000 Active 101 DOM
16. 2026-04-16
    price $64,000 482-char remark

    Show marketing remark (482 chars)

    Great investment opportunity just south of Bass Lake! Situated on a large lot of over half an acre, this 3-bedroom, 1-bath home offers plenty of space and potential. Features include a detached 2-car garage and a generous yard. Property needs repairs and updates and is being sold as-is, ideal for investors or buyers ready to take on a project. Seller financing available, providing flexible options for the right buyer. Bring your vision and capitalize on this promising location!

17. 2026-02-16
    listed $70,000 Active 482-char remark

    Show marketing remark (482 chars)

    Great investment opportunity just south of Bass Lake! Situated on a large lot of over half an acre, this 3-bedroom, 1-bath home offers plenty of space and potential. Features include a detached 2-car garage and a generous yard. Property needs repairs and updates and is being sold as-is, ideal for investors or buyers ready to take on a project. Seller financing available, providing flexible options for the right buyer. Bring your vision and capitalize on this promising location!

18. 2025-06-18
    price $76,500
19. 2025-05-19
    price $85,000
20. 2025-04-15
    listed $90,000 Active
21. 2024-11-16
    listed $95,000 Active
22. 2010-05-24
    soldstatus $16,000
23. 2009-11-16
    listed $22,900

ⓘ 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: $849 · $71/mo
• Projected year-2 tax: $849 · $71/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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,560
• − Mortgage interest: −$3,585
• − Property taxes: −$849
• − Insurance: −$1,118
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$1,862
• Taxable income: $4,817
• Est. tax owed @ 24.0%: −$1,156
• After-tax cash flow: $4,352/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: Culver Community Schools Corporation
• NCES district ID: 1802520
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $43,718
• Composite: 26.41/100
• National rank: #7227
• State rank: #236 of 301 in IN

Livability — Ora

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Ora, IN
• City population: 136
• Population (ZIP): 136

Population outlook (Starke County) Hauer SSP2

• Today (2025): 21,860 people
• By 2030: 21,024 · -3.8%
• By 2040: 19,041 · -12.9%
• By 2050: 16,881 · -22.8%
• By 2075: 11,880 · -45.7%
• By 2100: 7,217 · -67.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%

Political lean MEDSL · Starke

• 2024 margin: Solid R (+52.0) · D 23.2% · R 75.3% · Other 1.5%
• 2008→2024 swing: -55.3pp toward R · 2008: 3.2pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+46.8 2016: R+42.0 2012: R+10.6 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+179.5% since first listed

8 events — show timeline

• 2026-04-16 Price Changed $64,000 NIRA MLS as Distributed by MLS Grid
• 2026-02-16 Listed $70,000 NIRA MLS as Distributed by MLS Grid
• 2025-06-18 Price Changed $76,500 IRMLS
• 2025-05-19 Price Changed $85,000 IRMLS
• 2025-04-15 Listed $90,000 IRMLS
• 2024-11-16 Listed $95,000 IRMLS
• 2010-05-24 Sold (MLS) $16,000 NIRA MLS as Distributed by MLS Grid
• 2009-11-16 Listed $22,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+16.9%/yr

Latest (2024): $849 · -1.0% YoY. Source: county tax records.