311 N Mill St · Veedersburg, IN 47987

$188,000

4 bd · 1.5 ba · 2,096 sqft · SingleFamily public records · 118 Days on market

Built 1890 8,712 sqft lot $90/sqft · 63% above area Est $186k · at est.

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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 +13.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.1/15.0
• DSCR +4.0/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Step inside and immediately notice the fresh, inviting atmosphere created by brand-new flooring and crisp, freshly painted walls throughout. The completely updated kitchen is the heart of the home, featuring new cabinetry, countertops, and fixtures-perfect for everything from weeknight dinners to weekend entertaining. With four spacious bedrooms, there's plenty of room for the whole family, guests, or a dedicated home office. The 2.5 bathrooms ensure mornings run smoothly, and the full unfinished basement offers incredible potential-whether you envision a recreation room, home gym, workshop, or additional storage, the possibilities are yours to decide. Outside, the home truly shines. Relax on the charming covered front porch with a fresh cup of coffee or tea. Out back, a wood deck provides the ideal space for grilling, entertaining, or unwinding at the end of the day. All just a short stroll from the conveniences of town.

Key facts

• Brand new flooring
• Updated kitchen
• New cabinetry

Tags

• BRAND NEW FLOORING
• FRESHLY PAINTED WALLS
• UPDATED KITCHEN
• NEW CABINETRY
• NEW COUNTERTOPS
• NEW FIXTURES

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $188k.

Deal economics

• At list price, monthly cash flow is $-2 ($-28/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (22.4% below list).
• Recommended offer: $146k (22.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#395 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Southeast Fountain School Corporation (rural): math 34% / reading 43% proficiency, ranked #163 of 301 in IN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 19 units permitted in Fountain County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Fountain County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($171k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $12k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $188k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,979 (22.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• GRM: 10.7

CMA / ARV

• ARV (median comp): $186,470
• List price: $188,000
• Delta: 0.82%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 W 5th St	0.13mi	3/1.5 (-1)	2,118 (+1%)	14mo	$35,000	$17	76
214 W 7th St	0.20mi	3/1.5 (-1)	1,920 (-8%)	4mo	$175,500	$91	68
210 W 2nd St	0.13mi	3/2.0 (-1)	1,876 (-10%)	12mo	$138,000	$74	60
606 S Perry St	0.52mi	3/1.5 (-1)	1,972 (-6%)	3mo	$170,000	$86	58
116 W Jackson St	0.30mi	3/1.5 (-1)	2,392 (+14%)	6mo	$169,000	$71	53
1114 N College St	0.55mi	3/2.0 (-1)	1,838 (-12%)	10mo	$201,000	$109	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 2.94×
• Total profit: $102,174
• Equity at exit: $169,365

10-year hold

• IRR: 21.5%
• Equity multiple: 6.72×
• Total profit: $300,872
• Equity at exit: $365,243

Cash invested: $52,640 (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 47987

• Home prices YoY: 4.8%
• Active inventory: 22
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,460 medium
• Mortgage (P&I): −$986
• Tax from tax record: −$91 /mo · $1,096/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-2

Break-even live

Break-even rent $1,463

Max offer price $187,586

Occupancy floor 95%

Sensitivity live

Price	-10% $104	-5% $51	+0% $-2	+5% $-56	+10% $-109
Rent	-10% $-118	-5% $-60	+0% $-2	+5% $55	+10% $113
Rate	-1.0pp $92	-0.5pp $45	base $-2	+0.5pp $-51	+1.0pp $-101

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: $47,000
• Closing costs: $5,640
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $188,000 Active 118 DOM
2. 2026-06-19
   days on market $188,000 Active 116 DOM
3. 2026-06-18
   days on market $188,000 Active 115 DOM
4. 2026-06-17
   days on market $188,000 Active 114 DOM
5. 2026-06-16
   days on market $188,000 Active 113 DOM
6. 2026-06-15
   days on market $188,000 Active 112 DOM
7. 2026-06-14
   days on market $188,000 Active 110 DOM
8. 2026-06-12
   days on market $188,000 Active 109 DOM
9. 2026-06-09
   days on market $188,000 Active 106 DOM
10. 2026-06-08
    days on market $188,000 Active 105 DOM
11. 2026-06-07
    days on market $188,000 Active 104 DOM
12. 2026-06-03
    days on market $188,000 Active 100 DOM
13. 2026-06-02
    days on market $188,000 Active 99 DOM
14. 2026-06-01
    days on market $188,000 Active 98 DOM
15. 2026-05-31
    days on market $188,000 Active 97 DOM
16. 2026-05-30
    days on market $188,000 Active 96 DOM
17. 2026-04-27
    price $188,000 935-char remark

    Show marketing remark (935 chars)

    Step inside and immediately notice the fresh, inviting atmosphere created by brand-new flooring and crisp, freshly painted walls throughout. The completely updated kitchen is the heart of the home, featuring new cabinetry, countertops, and fixtures-perfect for everything from weeknight dinners to weekend entertaining. With four spacious bedrooms, there's plenty of room for the whole family, guests, or a dedicated home office. The 2.5 bathrooms ensure mornings run smoothly, and the full unfinished basement offers incredible potential-whether you envision a recreation room, home gym, workshop, or additional storage, the possibilities are yours to decide. Outside, the home truly shines. Relax on the charming covered front porch with a fresh cup of coffee or tea. Out back, a wood deck provides the ideal space for grilling, entertaining, or unwinding at the end of the day. All just a short stroll from the conveniences of town.

18. 2026-04-27
    price $188,000 935-char remark

    Show marketing remark (935 chars)

    Step inside and immediately notice the fresh, inviting atmosphere created by brand-new flooring and crisp, freshly painted walls throughout. The completely updated kitchen is the heart of the home, featuring new cabinetry, countertops, and fixtures-perfect for everything from weeknight dinners to weekend entertaining. With four spacious bedrooms, there's plenty of room for the whole family, guests, or a dedicated home office. The 2.5 bathrooms ensure mornings run smoothly, and the full unfinished basement offers incredible potential-whether you envision a recreation room, home gym, workshop, or additional storage, the possibilities are yours to decide. Outside, the home truly shines. Relax on the charming covered front porch with a fresh cup of coffee or tea. Out back, a wood deck provides the ideal space for grilling, entertaining, or unwinding at the end of the day. All just a short stroll from the conveniences of town.

19. 2026-03-31
    price $192,500 935-char remark

    Show marketing remark (935 chars)

    Step inside and immediately notice the fresh, inviting atmosphere created by brand-new flooring and crisp, freshly painted walls throughout. The completely updated kitchen is the heart of the home, featuring new cabinetry, countertops, and fixtures-perfect for everything from weeknight dinners to weekend entertaining. With four spacious bedrooms, there's plenty of room for the whole family, guests, or a dedicated home office. The 2.5 bathrooms ensure mornings run smoothly, and the full unfinished basement offers incredible potential-whether you envision a recreation room, home gym, workshop, or additional storage, the possibilities are yours to decide. Outside, the home truly shines. Relax on the charming covered front porch with a fresh cup of coffee or tea. Out back, a wood deck provides the ideal space for grilling, entertaining, or unwinding at the end of the day. All just a short stroll from the conveniences of town.

20. 2026-03-26
    price $192,500 935-char remark

    Show marketing remark (935 chars)

    Step inside and immediately notice the fresh, inviting atmosphere created by brand-new flooring and crisp, freshly painted walls throughout. The completely updated kitchen is the heart of the home, featuring new cabinetry, countertops, and fixtures-perfect for everything from weeknight dinners to weekend entertaining. With four spacious bedrooms, there's plenty of room for the whole family, guests, or a dedicated home office. The 2.5 bathrooms ensure mornings run smoothly, and the full unfinished basement offers incredible potential-whether you envision a recreation room, home gym, workshop, or additional storage, the possibilities are yours to decide. Outside, the home truly shines. Relax on the charming covered front porch with a fresh cup of coffee or tea. Out back, a wood deck provides the ideal space for grilling, entertaining, or unwinding at the end of the day. All just a short stroll from the conveniences of town.

21. 2026-02-23
    listed $200,000 Active 935-char remark

    Show marketing remark (935 chars)

    Step inside and immediately notice the fresh, inviting atmosphere created by brand-new flooring and crisp, freshly painted walls throughout. The completely updated kitchen is the heart of the home, featuring new cabinetry, countertops, and fixtures-perfect for everything from weeknight dinners to weekend entertaining. With four spacious bedrooms, there's plenty of room for the whole family, guests, or a dedicated home office. The 2.5 bathrooms ensure mornings run smoothly, and the full unfinished basement offers incredible potential-whether you envision a recreation room, home gym, workshop, or additional storage, the possibilities are yours to decide. Outside, the home truly shines. Relax on the charming covered front porch with a fresh cup of coffee or tea. Out back, a wood deck provides the ideal space for grilling, entertaining, or unwinding at the end of the day. All just a short stroll from the conveniences of town.

22. 2026-02-23
    listed $200,000 Active 935-char remark

    Show marketing remark (935 chars)

    Step inside and immediately notice the fresh, inviting atmosphere created by brand-new flooring and crisp, freshly painted walls throughout. The completely updated kitchen is the heart of the home, featuring new cabinetry, countertops, and fixtures-perfect for everything from weeknight dinners to weekend entertaining. With four spacious bedrooms, there's plenty of room for the whole family, guests, or a dedicated home office. The 2.5 bathrooms ensure mornings run smoothly, and the full unfinished basement offers incredible potential-whether you envision a recreation room, home gym, workshop, or additional storage, the possibilities are yours to decide. Outside, the home truly shines. Relax on the charming covered front porch with a fresh cup of coffee or tea. Out back, a wood deck provides the ideal space for grilling, entertaining, or unwinding at the end of the day. All just a short stroll from the conveniences of town.

23. 2017-06-09
    soldstatus $65,000
24. 2017-02-03
    listed $79,900
25. 2016-09-30
    listed $84,500

ⓘ 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: $1,096 · $91/mo
• Projected year-2 tax: $1,347 · $112/mo
• Expected delta: +$251/yr (+$21/mo · 22.9%)

ⓘ 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 4/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,517
• − Mortgage interest: −$10,531
• − Property taxes: −$1,096
• − Insurance: −$940
• − Repairs & maintenance: −$1,401
• − Management: −$1,401
• − Depreciation: −$5,469
• Taxable loss: −$3,322
• Est. tax savings @ 24.0%: +$797
• After-tax cash flow: $769/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: Southeast Fountain School Corporation
• NCES district ID: 1810620
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $44,911
• Composite: 32.73/100
• National rank: #5640
• State rank: #163 of 301 in IN

Livability — Veedersburg

• Score: 64/100
• State rank: #395
• US rank: #14573

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Veedersburg, IN
• Population (ZIP): 3,705

Population outlook (Fountain County) Hauer SSP2

• Today (2025): 15,481 people
• By 2030: 14,841 · -4.1%
• By 2040: 13,505 · -12.8%
• By 2050: 12,149 · -21.5%
• By 2075: 9,214 · -40.5%
• By 2100: 6,463 · -58.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Fountain

• 2024 margin: Solid R (+60.0) · D 19.1% · R 79.1% · Other 1.8%
• 2008→2024 swing: -45.6pp toward R · 2008: -14.4pp · 2024: -60.0pp
• All cycles: 2024: R+60.0 2020: R+56.7 2016: R+56.0 2012: R+34.2 2008: R+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.85%
• Current HPI: 235.6913
• 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

+122.5% since first listed

9 events — show timeline

• 2026-04-27 Price Changed $188,000 IRMLS
• 2026-04-27 Price Changed $188,000 MIBOR as Distributed by MLS Grid
• 2026-03-31 Price Changed $192,500 IRMLS
• 2026-03-26 Price Changed $192,500 MIBOR as Distributed by MLS Grid
• 2026-02-23 Listed $200,000 MIBOR as Distributed by MLS Grid
• 2026-02-23 Listed $200,000 IRMLS
• 2017-06-09 Sold (MLS) $65,000 IRMLS
• 2017-02-03 Listed $79,900 IRMLS
• 2016-09-30 Listed $84,500 IRMLS

Property tax history

+13.3%/yr

Latest (2024): $1,096 · +1.9% YoY. Source: county tax records.