4062 E Elm St · Union City, IN 47390

$67,800

3 bd · 1.0 ba · 1,814 sqft · SingleFamily public records · 59 Days on market

Built 1885 0.79 ac lot $37/sqft · 40% below area Est $113k · 40% under ↓ 8% since listing

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Country setting. large lot. 1 car detached garage. Attic are could be finished to make 1 bedroom, 1 bath. Exterior staircase to attic wit large deck.

Key facts

• 0.79 acre lot
• Garage
• Built 1885

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $66k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#432 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, schools D-, amenities F.
• Randolph Eastern School Corporation (town): math 29% / reading 31% proficiency, ranked #246 of 301 in IN (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 19 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($469 loan paydown + $7k appreciation (10.0% local appreciation)).
• Randolph County population projected at -26% 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 $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,766 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.83% ✓
• Cap rate: 15.88%
• Cash-on-cash: 34.25%
• DSCR: 2.52
• GRM: 4.6

CMA / ARV

• ARV (median comp): $112,967
• List price: $67,800
• Delta: -39.98%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 50.5%
• Equity multiple: 4.76×
• Total profit: $71,432
• Equity at exit: $61,080

10-year hold

• IRR: 44.2%
• Equity multiple: 10.65×
• Total profit: $183,220
• Equity at exit: $131,720

Cash invested: $18,984 (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 47390

• Home prices YoY: 9.1%
• Active inventory: 35
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,240 medium
• Mortgage (P&I): −$356
• Tax from tax record: −$54 /mo · $647/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $542

Break-even live

Break-even rent $554

Max offer price $67,800

Occupancy floor 51%

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: $16,950
• Closing costs: $2,034
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $67,800 Active 59 DOM
2. 2026-06-17
   days on market $67,800 Active 58 DOM
3. 2026-06-16
   days on market $67,800 Active 57 DOM
4. 2026-06-15
   days on market $67,800 Active 56 DOM
5. 2026-06-13
   days on market $67,800 Active 54 DOM
6. 2026-06-12
   days on market $67,800 Active 53 DOM
7. 2026-06-09
   pricedays on market $67,800 Active 50 DOM
8. 2026-06-08
   days on market $73,600 Active 49 DOM
9. 2026-06-07
   days on market $73,600 Active 48 DOM
10. 2026-05-07
    price $73,600 150-char remark

    Show marketing remark (150 chars)

    Country setting. large lot. 1 car detached garage. Attic are could be finished to make 1 bedroom, 1 bath. Exterior staircase to attic wit large deck.

11. 2026-04-08
    listed $79,900 Active 150-char remark

    Show marketing remark (150 chars)

    Country setting. large lot. 1 car detached garage. Attic are could be finished to make 1 bedroom, 1 bath. Exterior staircase to attic wit large deck.

ⓘ 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: $647 · $54/mo
• Projected year-2 tax: $647 · $54/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,878
• − Mortgage interest: −$3,798
• − Property taxes: −$647
• − Insurance: −$339
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$1,972
• Taxable income: $5,742
• Est. tax owed @ 24.0%: −$1,378
• After-tax cash flow: $5,123/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: Randolph Eastern School Corporation
• NCES district ID: 1803180
• Math proficiency: 29% ▼ -15.00%
• Reading proficiency: 31% ▼ -15.00%
• Median HH income: $36,652
• Composite: 24.92/100
• National rank: #7570
• State rank: #246 of 301 in IN

Livability — Union City

• Score: 63/100
• State rank: #432
• US rank: #15530

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,084

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 22,998 people
• By 2030: 21,815 · -5.1%
• By 2040: 19,360 · -15.8%
• By 2050: 17,010 · -26.0%
• By 2075: 12,491 · -45.7%
• By 2100: 8,986 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 15% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 3% Portuguese 2% Italian 1%
• Foreign-born: 6% · Canada, South Korea, Guatemala
• Languages at home: 88% English-only · Spanish 10% Korean 1% Other Indo-European 1%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+53.7) · D 22.3% · R 75.9% · Other 1.8%
• 2008→2024 swing: -44.9pp toward R · 2008: -8.8pp · 2024: -53.7pp
• All cycles: 2024: R+53.7 2020: R+52.4 2016: R+48.5 2012: R+24.1 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.82%
• Current HPI: 273.6736
• 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

-7.9% since first listed

2 events — show timeline

• 2026-05-07 Price Changed $73,600 MIBOR as Distributed by MLS Grid
• 2026-04-08 Listed $79,900 MIBOR as Distributed by MLS Grid

Property tax history

+8.1%/yr

Latest (2024): $647 · +82.9% YoY. Source: county tax records.