420 S 1st St · Lewisville, IN 47352

$128,000

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 73 Days on market

Built 1956 0.30 ac lot $102/sqft · 22% above area Est $105k · 22% over ↓ 8% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Appreciation +6.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Charming 3-bedroom, 2-bath ranch offering comfortable one-level living. This home features a spacious living room, a functional kitchen with all appliances included, and a dedicated dining area perfect for everyday meals or entertaining. Step outside to enjoy a nice open backyard with plenty of space for outdoor activities, gardening, or relaxing.

Key facts

• Functional kitchen
• One-level living
• Open backyard

Tags

• ONE-LEVEL LIVING
• SPACIOUS LIVING ROOM
• FUNCTIONAL KITCHEN
• DEDICATED DINING AREA
• OPEN BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $120k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#464 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D, schools F.
• South Henry School Corporation (rural): math 25% / reading 27% proficiency, ranked #258 of 301 in IN (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 10 active listings in the ZIP; 47 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($885 loan paydown + $5k appreciation (3.6% local appreciation)).
• Henry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($120k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,320 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.38% ✓
• Cap rate: 12.30%
• Cash-on-cash: 21.46%
• DSCR: 1.95
• GRM: 6.1

CMA / ARV

• ARV (median comp): $104,728
• List price: $128,000
• Delta: 22.22%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206 E Us Highway 40	0.45mi	4/1.0 (+1)	1,308 (+4%)	6mo	$75,000	$57	62
405 N Market St	0.64mi	3/2.0	1,280 (+2%)	14mo	$275,000	$215	52

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

Projected returns pro-forma

3.59% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 2.68×
• Total profit: $60,214
• Equity at exit: $61,835

10-year hold

• IRR: 28.8%
• Equity multiple: 5.25×
• Total profit: $152,224
• Equity at exit: $98,766

Cash invested: $35,840 (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 47352

• Home prices YoY: 1.6%
• Active inventory: 10
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,762 medium
• Mortgage (P&I): −$671
• Tax from tax record: −$27 /mo · $319/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $641

Break-even live

Break-even rent $951

Max offer price $128,000

Occupancy floor 59%

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $128,000 Active 73 DOM
2. 2026-06-18
   days on market $128,000 Active 72 DOM
3. 2026-06-17
   days on market $128,000 Active 71 DOM
4. 2026-06-16
   days on market $128,000 Active 70 DOM
5. 2026-06-15
   days on market $128,000 Active 69 DOM
6. 2026-06-14
   days on market $128,000 Active 67 DOM
7. 2026-06-12
   days on market $128,000 Active 66 DOM
8. 2026-06-09
   days on market $128,000 Active 63 DOM
9. 2026-06-08
   days on market $128,000 Active 62 DOM
10. 2026-06-07
    days on market $128,000 Active 61 DOM
11. 2026-06-03
    days on market $128,000 Active 57 DOM
12. 2026-06-03
    price $128,000 Active 56 DOM
13. 2026-06-02
    days on market $133,000 Active 56 DOM
14. 2026-06-01
    days on market $133,000 Active 55 DOM
15. 2026-05-31
    days on market $133,000 Active 54 DOM
16. 2026-05-30
    days on market $133,000 Active 53 DOM
17. 2026-05-18
    price $133,000 349-char remark

    Show marketing remark (349 chars)

    Charming 3-bedroom, 2-bath ranch offering comfortable one-level living. This home features a spacious living room, a functional kitchen with all appliances included, and a dedicated dining area perfect for everyday meals or entertaining. Step outside to enjoy a nice open backyard with plenty of space for outdoor activities, gardening, or relaxing.

18. 2026-04-30
    price $135,000 349-char remark

    Show marketing remark (349 chars)

    Charming 3-bedroom, 2-bath ranch offering comfortable one-level living. This home features a spacious living room, a functional kitchen with all appliances included, and a dedicated dining area perfect for everyday meals or entertaining. Step outside to enjoy a nice open backyard with plenty of space for outdoor activities, gardening, or relaxing.

19. 2026-04-17
    price $140,000 349-char remark

    Show marketing remark (349 chars)

    Charming 3-bedroom, 2-bath ranch offering comfortable one-level living. This home features a spacious living room, a functional kitchen with all appliances included, and a dedicated dining area perfect for everyday meals or entertaining. Step outside to enjoy a nice open backyard with plenty of space for outdoor activities, gardening, or relaxing.

20. 2026-04-07
    listed $145,000 Active 349-char remark

    Show marketing remark (349 chars)

    Charming 3-bedroom, 2-bath ranch offering comfortable one-level living. This home features a spacious living room, a functional kitchen with all appliances included, and a dedicated dining area perfect for everyday meals or entertaining. Step outside to enjoy a nice open backyard with plenty of space for outdoor activities, gardening, or relaxing.

ⓘ 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: $319 · $27/mo
• Projected year-2 tax: $703 · $59/mo
• Expected delta: +$385/yr (+$32/mo · 120.6%)

ⓘ 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 · 18 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: $21,147
• − Mortgage interest: −$7,170
• − Property taxes: −$319
• − Insurance: −$640
• − Repairs & maintenance: −$1,692
• − Management: −$1,692
• − Depreciation: −$3,724
• Taxable income: $5,911
• Est. tax owed @ 24.0%: −$1,419
• After-tax cash flow: $6,274/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: South Henry School Corporation
• NCES district ID: 1810380
• Math proficiency: 25% ▼ -15.00%
• Reading proficiency: 27% ▼ -14.00%
• Median HH income: $47,772
• Composite: 22.67/100
• National rank: #8045
• State rank: #258 of 301 in IN

Livability — Lewisville

• Score: 62/100
• State rank: #464
• US rank: #16379

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisville, IN
• Population (ZIP): 823

Population outlook (Henry County) Hauer SSP2

• Today (2025): 48,028 people
• By 2030: 47,125 · -1.9%
• By 2040: 44,820 · -6.7%
• By 2050: 42,207 · -12.1%
• By 2075: 35,814 · -25.4%
• By 2100: 26,779 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Serbian 2% Portuguese 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+47.7) · D 25.3% · R 73.0% · Other 1.7%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.9pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.2 2016: R+43.7 2012: R+17.0 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.59%
• Current HPI: 230.5852
• 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

-8.3% since first listed

4 events — show timeline

• 2026-05-18 Price Changed $133,000 MIBOR as Distributed by MLS Grid
• 2026-04-30 Price Changed $135,000 MIBOR as Distributed by MLS Grid
• 2026-04-17 Price Changed $140,000 MIBOR as Distributed by MLS Grid
• 2026-04-07 Listed $145,000 MIBOR as Distributed by MLS Grid

Property tax history

-10.6%/yr

Latest (2024): $319 · -1.5% YoY. Source: county tax records.