111 Cleveland St · Columbus, IN 47201

$170,000

3 bd · 1.0 ba · 792 sqft · SingleFamily public records · 17 Days on market

Built 1980 5,200 sqft lot Est $157k · 8% over

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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 +18.8/30.0
• DSCR +5.9/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• ARV discount +3.7/15.0
• Schools +3.6/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 111 Cleveland St, a low-maintenance, move-in-ready bungalow offering comfort, updates, and incredible garage space! This 3 bedroom, 1 bath home features an updated kitchen with new cabinets, granite countertops, and a functional layout that makes everyday living easy. Enjoy the charm of the covered front porch, a dedicated laundry room, and a clean, efficient floor plan perfect for first-time buyers, downsizers, or investors. Outside, the HUGE detached garage provides endless possibilities, whether you need extra storage, hobby space, or the workshop of your dreams. Don't miss this affordable and updated home with standout garage space!

Key facts

• Covered front porch
• Updated kitchen
• Granite countertops

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• COVERED FRONT PORCH
• DEDICATED LAUNDRY ROOM
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 3-car garage with service door
• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One level
• Construction: Aluminum and vinyl siding; Block foundation
• Exterior features: Covered porch/patio; Partial privacy fence

Interior

• Kitchen: Dishwasher; Gas oven; Refrigerator; Gas water heater
• Bedrooms: 3 bedrooms on the main level (one listed as Bedroom 2 and Bedroom 3; total of 3 main-level bedrooms)
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/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 $158k (7.0% below list).
• Recommended offer: $158k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.5% in Columbus — 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 79/100 on livability (#24 in IN, #1,978 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F.
• Bartholomew Consolidated School Corporation (urban): math 38% / reading 45% proficiency, ranked #119 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.1%/yr); 340 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 195 units permitted in Bartholomew 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 $5k of value loss. Plan a longer hold.
• Bartholomew County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y 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.

Recommended offer $158,041 (7.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.93% ✗
• Cap rate: 7.50%
• Cash-on-cash: 4.30%
• DSCR: 1.19
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $156,816
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
283 N Brooks St	0.31mi	2/1.0 (-1)	768 (-3%)	15mo	$152,730	$199	63
2905 Kentucky Ave	0.46mi	3/1.0	864 (+9%)	4mo	$173,900	$201	60
52 N Ross St	0.11mi	2/1.0 (-1)	892 (+13%)	12mo	$170,000	$191	59
355 Mcclure Rd	0.40mi	2/1.0 (-1)	756 (-4%)	12mo	$106,500	$141	59
213 Hege Ave	0.48mi	2/1.0 (-1)	848 (+7%)	4mo	$119,000	$140	58
211 Cleveland St	0.09mi	2/1.0 (-1)	694 (-12%)	18mo	$138,000	$199	55
651 N Cherry St	0.49mi	2/1.0 (-1)	768 (-3%)	20mo	$169,000	$220	51
502 Cleveland St	0.37mi	3/1.0	720 (-9%)	23mo	$160,000	$222	48
2221 5th St	0.42mi	2/1.0 (-1)	864 (+9%)	22mo	$171,000	$198	42
21 S Hinman St	0.62mi	3/1.0	864 (+9%)	22mo	$95,201	$110	37
2133 10th St	0.70mi	2/1.0 (-1)	896 (+13%)	10mo	$140,000	$156	32

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 · 3.15% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-16,492
• Equity at exit: $25,348

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $451
• Equity at exit: $14,698

Cash invested: $47,600 (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 47201

• Rents YoY: 3.1%
• Active inventory: 340
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,580 high
• Mortgage (P&I): −$891
• Tax from tax record: −$116 /mo · $1,390/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $170

Break-even live

Break-even rent $1,365

Max offer price $170,000

Occupancy floor 84%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 Wint Ln Columbus, IN	1.0–2.0	1.0–2.0	950	$1,450	$1.53	43d	1	0.56mi
275 N Marr Rd Columbus, IN	1.0–2.0	1.0–2.0	897	$1,540	$1.72	43d	4	0.57mi
3393 Country Brook St Columbus, IN	1.0–3.0	1.5	821	$1,665	$2.03	43d	10	0.60mi
1182 Quail Run Dr Columbus, IN	1.0–3.0	1.0–2.0	967	$1,600	$1.65	43d	16	0.75mi
782 Clifty Ln Columbus, IN	1.0–2.0	1.0–2.0	999	$1,360	$1.36	43d	1	0.82mi
725 Sycamore St Columbus, IN	1.0–2.0	1.0–2.0	766	$1,525	$1.99	20d	11	1.23mi

Listing history 13 events

1. 2026-06-13
   status $170,000 Pending 17 DOM
2. 2026-06-10
   days on market $170,000 Active 17 DOM
3. 2026-06-09
   days on market $170,000 Active 16 DOM
4. 2026-06-08
   days on market $170,000 Active 15 DOM
5. 2026-06-07
   days on market $170,000 Active 14 DOM
6. 2026-06-05
   days on market $170,000 Active 11 DOM
7. 2026-06-03
   days on market $170,000 Active 10 DOM
8. 2026-06-02
   days on market $170,000 Active 9 DOM
9. 2026-06-01
   days on market $170,000 Active 8 DOM
10. 2026-05-31
    days on market $170,000 Active 7 DOM
11. 2026-05-30
    days on market $170,000 Active 6 DOM
12. 2026-05-24
    listed $170,000 Active
13. 2004-11-18
    listed $29,900

ⓘ 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: $1,390 · $116/mo
• Projected year-2 tax: $1,417 · $118/mo
• Expected delta: +$28/yr (+$2/mo · 2.0%)

ⓘ 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 ≥103°F today · 19 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: $18,965
• − Mortgage interest: −$9,523
• − Property taxes: −$1,390
• − Insurance: −$850
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$4,945
• Taxable loss: −$777
• Est. tax savings @ 24.0%: +$187
• After-tax cash flow: $2,231/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: Bartholomew Consolidated School Corporation
• NCES district ID: 1800360
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $54,685
• Composite: 36.16/100
• National rank: #4736
• State rank: #119 of 301 in IN

Livability — Columbus

• Score: 79/100
• State rank: #24
• US rank: #1978

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, IN
• County: Bartholomew County · 74,100 people
• City population: 74,100
• Metro: Columbus, IN
• Population (ZIP): 47,900
• Household income: $83,958
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 1455.0

Population outlook (Bartholomew County) Hauer SSP2

• Today (2025): 90,162 people
• By 2030: 94,432 · +4.7%
• By 2040: 102,659 · +13.9%
• By 2050: 109,794 · +21.8%
• By 2075: 123,419 · +36.9%
• By 2100: 121,047 · +34.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 10% Asian 9% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Italian 3% Slovak 2% Serbian 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 83% English-only · Spanish 8% Other Indo-European 5% Other Asian/Pacific 2%

Political lean MEDSL · Bartholomew

• 2024 margin: Strong R (+27.3) · D 35.3% · R 62.7% · Other 2.0%
• 2008→2024 swing: -16.1pp toward R · 2008: -11.3pp · 2024: -27.3pp
• All cycles: 2024: R+27.3 2020: R+26.2 2016: R+33.3 2012: R+25.4 2008: R+11.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.94%
• Current HPI: 150.2246
• Rent YoY: ▲ 3.15%
• Metro: Columbus, IN
• 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

+468.6% since first listed

2 events — show timeline

• 2026-05-24 Listed $170,000 MIBOR as Distributed by MLS Grid
• 2004-11-18 Listed $29,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2024): $1,390 · +3.9% YoY. Source: county tax records.