206 E Main St · New Market, IN 47965

$177,900

4 bd · 1.5 ba · 2,492 sqft · SingleFamily public records · 103 Days on market

Built 1956 8,712 sqft lot Est $209k · 15% under

---

Why this score? — see what drove the C- 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).

• ARV discount +14.3/15.0
• Cash flow +12.5/30.0
• Appreciation +5.0/10.0
• Schools +4.4/10.0
• DSCR +3.7/10.0
• Livability +3.3/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Well maintained 4 bedroom 1.5 bathroom home located in town New Market. This home has ample room for entertainment, and a large backyard for those summer BBQs. New Flooring on the first floor including vinyl and new carpet. Don't miss your chance to see this home.

Key facts

• Sun porch
• Laundry room
• Basement for storage

Tags

• SUN PORCH
• LAUNDRY ROOM
• FULL BATH ON THE MAIN LEVEL
• NEW FULL BATH
• LARGE DETACHED GARAGE
• BASEMENT FOR STORAGE

Property features AI

Finance

• Other: Lot size approximately 0.2 acres (< 1/4 acre); Basement present — unfinished; Total building area approximately 3,450; living area on main and upper levels approximately 2,432

Exterior

• Parking: Detached 2-car garage (approximately 460 sq ft)
• Utilities: Public water; Municipal sewer connected; Solid waste: no
• Home design: Single-family residence; One and one-half stories; Residential property
• Construction: Vinyl siding; Concrete perimeter foundation
• Exterior features: Exterior is handicap accessible; Porch; Not in a subdivision

Interior

• Kitchen: Gas oven; Dishwasher; Refrigerator
• Bedrooms: Three bedrooms total — one on the main level and two on the upper level; Primary bedroom: see remarks
• Bathrooms: One full bathroom and one half bathroom total; Primary bathroom includes a full tub and a full shower stall
• Heating & cooling: Forced-air heating (natural gas); Central air conditioning; One wood-burning fireplace
• Interior features: Accessible entrance and accessible full bathroom; Storage space in basement; Porch
• Laundry & utility: Laundry room with washer and dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $-27 ($-322/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (23.1% below list).
• Recommended offer: $137k (23.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#297 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• South Montgomery Community School Corporation (rural): math 52% / reading 49% proficiency, ranked #46 of 301 in IN (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: New Market Elementary School (math 67% / reading 49%, grade C+, #160 of 994 statewide, top 17%, 471 students, 42% FRL); Southmont Jr High School (math 42% / reading 47%, grade D, #84 of 330 statewide, top 26%, 376 students, 40% FRL); Southmont Sr High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 477 students, 39% FRL).
• Market conditions: 4 active listings in the ZIP; 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($1k loan paydown + $132 appreciation (0.1% local appreciation)).
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.
• Current owner paid $138k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $136,756 (23.1% 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 103 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1956 — 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 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?
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: 0.77% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $209,328
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 E Main St	0.07mi	5/2.0 (+1)	2,209 (-11%)	6mo	$184,900	$84	66
200 E Pine St	0.09mi	4/3.0	2,756 (+11%)	11mo	$229,900	$83	63
109 S 6th St	0.37mi	4/1.0	2,272 (-9%)	19mo	$170,000	$75	50
125 Circle Dr	0.19mi	5/2.5 (+1)	2,800 (+12%)	21mo	$499,999	$179	44

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

Projected returns pro-forma

0.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.87×
• Total profit: $-6,346
• Equity at exit: $52,318

10-year hold

• IRR: 3.0%
• Equity multiple: 1.32×
• Total profit: $16,096
• Equity at exit: $63,418

Cash invested: $49,812 (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 47965

• Home prices YoY: 0.1%
• Active inventory: 4
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,368 medium
• Mortgage (P&I): −$933
• Tax from tax record: −$100 /mo · $1,202/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $-27

Break-even live

Break-even rent $1,402

Max offer price $173,162

Occupancy floor 97%

Sensitivity live

Price	-10% $74	-5% $24	+0% $-27	+5% $-77	+10% $-128
Rent	-10% $-135	-5% $-81	+0% $-27	+5% $27	+10% $81
Rate	-1.0pp $63	-0.5pp $18	base $-27	+0.5pp $-73	+1.0pp $-120

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: $44,475
• Closing costs: $5,337
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-22
   days on market $177,900 Active 103 DOM
2. 2026-06-21
   days on market $177,900 Active 102 DOM
3. 2026-06-19
   days on market $177,900 Active 100 DOM
4. 2026-06-18
   days on market $177,900 Active 99 DOM
5. 2026-06-17
   days on market $177,900 Active 98 DOM
6. 2026-06-16
   days on market $177,900 Active 97 DOM
7. 2026-06-15
   days on market $177,900 Active 96 DOM
8. 2026-06-14
   days on market $177,900 Active 94 DOM
9. 2026-06-12
   days on market $177,900 Active 93 DOM
10. 2026-06-09
    days on market $177,900 Active 90 DOM
11. 2026-06-08
    days on market $177,900 Active 89 DOM
12. 2026-06-07
    days on market $177,900 Active 88 DOM
13. 2026-06-05
    days on market $177,900 Active 86 DOM
14. 2026-06-03
    days on market $177,900 Active 84 DOM
15. 2026-06-02
    days on market $177,900 Active 83 DOM
16. 2026-06-01
    days on market $177,900 Active 82 DOM
17. 2026-05-31
    days on market $177,900 Active 81 DOM
18. 2026-05-30
    days on market $177,900 Active 80 DOM
19. 2026-05-11
    price $177,900
20. 2026-03-29
    price $179,900
21. 2026-03-11
    listed $184,900 Active
22. 2022-06-10
    soldstatus $137,500 264-char remark

    Show marketing remark (264 chars)

    Well maintained 4 bedroom 1.5 bathroom home located in town New Market. This home has ample room for entertainment, and a large backyard for those summer BBQs. New Flooring on the first floor including vinyl and new carpet. Don't miss your chance to see this home.

23. 2021-12-20
    listed $137,400 264-char remark

    Show marketing remark (264 chars)

    Well maintained 4 bedroom 1.5 bathroom home located in town New Market. This home has ample room for entertainment, and a large backyard for those summer BBQs. New Flooring on the first floor including vinyl and new carpet. Don't miss your chance to see this home.

ⓘ 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: $1,202 · $100/mo
• Projected year-2 tax: $1,357 · $113/mo
• Expected delta: +$155/yr (+$13/mo · 12.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°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: $16,411
• − Mortgage interest: −$9,965
• − Property taxes: −$1,202
• − Insurance: −$890
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − Depreciation: −$5,175
• Taxable loss: −$3,447
• Est. tax savings @ 24.0%: +$827
• After-tax cash flow: $505/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 Montgomery Community School Corporation
• NCES district ID: 1810450
• Math proficiency: 52% ▼ -3.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $55,952
• Composite: 43.79/100
• National rank: #2935
• State rank: #46 of 301 in IN

Livability — New Market

• Score: 66/100
• State rank: #297
• US rank: #11953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Market, IN
• City population: 550
• Population (ZIP): 550

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 37,893 people
• By 2030: 37,539 · -0.9%
• By 2040: 36,536 · -3.6%
• By 2050: 34,454 · -9.1%
• By 2075: 28,852 · -23.9%
• By 2100: 21,145 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Romanian 2% Portuguese 1% Serbian 1%
• Foreign-born: 0%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+48.2) · D 24.9% · R 73.2% · Other 1.9%
• 2008→2024 swing: -28.3pp toward R · 2008: -19.9pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+49.1 2016: R+50.9 2012: R+38.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.07%
• Current HPI: 111.399
• 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

+29.5% since first listed

5 events — show timeline

• 2026-05-11 Price Changed $177,900 MIBOR as Distributed by MLS Grid
• 2026-03-29 Price Changed $179,900 MIBOR as Distributed by MLS Grid
• 2026-03-11 Listed $184,900 MIBOR as Distributed by MLS Grid
• 2022-06-10 Sold (MLS) $137,500 IRMLS
• 2021-12-20 Listed $137,400 IRMLS

Property tax history

+15.9%/yr

Latest (2025): $1,202 · +5.1% YoY. Source: county tax records.