4394 E 900 N · Rushville, IN 46173

$55,000

3 bd · 1.0 ba · 1,720 sqft · SingleFamily public records · 14 Days on market

Built 1850 0.74 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor's special! 4 lots, home needs complete renovation or controlled burn. sold CASH, as-is

Key facts

• 0.74 acre lot
• Built 1850
• Listed 14 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Private water
• Home design: Single-family residence; Two-story
• Construction: Wood siding; Shingle roof
• Exterior features: Level lot; Barn(s); Shed(s)

Interior

• Bathrooms: 1 full bathroom
• Interior features: Electric water heater; 5 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $537 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 20.7% vs local median 4.0% in Rushville — 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 69/100 on livability (#184 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Rush County Schools (town): math 38% / reading 41% proficiency, ranked #147 of 301 in IN (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rushville Elementary School East (math 47% / reading 42%, grade F, #379 of 994 statewide, top 41%, 329 students, 60% FRL); Rushville Consolidated High School (math 37% / reading 67%, grade D+, #106 of 369 statewide, top 31%, 654 students, 54% FRL).
• Market conditions: 65 active listings in the ZIP; 59 units permitted in Rush County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Rush County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $25k; list at $55k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.40% ✓
• Cap rate: 20.73%
• Cash-on-cash: 51.58%
• DSCR: 3.29
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $22,360
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4442 E 900 N	0.04mi	3/1.0	1,944 (+13%)	2mo	$25,500	$13	75

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.5%
• Equity multiple: 2.65×
• Total profit: $25,366
• Equity at exit: $8,201

10-year hold

• IRR: 45.0%
• Equity multiple: 5.32×
• Total profit: $66,496
• Equity at exit: $4,755

Cash invested: $15,400 (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 46173

• Home prices YoY: -14.3%
• Active inventory: 65
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,319 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $537

Break-even live

Break-even rent $640

Max offer price $55,000

Occupancy floor 54%

Sensitivity live

Price	-10% $575	-5% $556	+0% $537	+5% $518	+10% $499
Rent	-10% $432	-5% $485	+0% $537	+5% $589	+10% $641
Rate	-1.0pp $564	-0.5pp $551	base $537	+0.5pp $522	+1.0pp $508

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $55,000 Active 14 DOM
2. 2026-06-17
   days on market $55,000 Active 13 DOM
3. 2026-06-16
   days on market $55,000 Active 12 DOM
4. 2026-06-15
   days on market $55,000 Active 11 DOM
5. 2026-06-13
   days on market $55,000 Active 9 DOM
6. 2026-06-13
   days on market $55,000 Active 8 DOM
7. 2026-06-09
   days on market $55,000 Active 5 DOM
8. 2026-06-08
   days on market $55,000 Active 4 DOM
9. 2026-06-07
   days on market $55,000 Active 3 DOM
10. 2026-06-05
    remarks 96-char remark
11. 2026-06-05
    listed $55,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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: $15,828
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$1,778
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − Depreciation: −$1,600
• Taxable income: $6,012
• Est. tax owed @ 24.0%: −$1,443
• After-tax cash flow: $4,997/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: Rush County Schools
• NCES district ID: 1809750
• Math proficiency: 38% ▼ -14.00%
• Reading proficiency: 41% ▼ -14.00%
• Median HH income: $46,237
• Composite: 33.72/100
• National rank: #5377
• State rank: #147 of 301 in IN

Livability — Rushville

• Score: 69/100
• State rank: #184
• US rank: #8476

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,544

Population outlook (Rush County) Hauer SSP2

• Today (2025): 15,654 people
• By 2030: 15,036 · -3.9%
• By 2040: 13,674 · -12.6%
• By 2050: 12,239 · -21.8%
• By 2075: 9,466 · -39.5%
• By 2100: 7,104 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2% Black 1%
• Common ancestry: Slovak 1% Iranian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 2%

Political lean MEDSL · Rush

• 2024 margin: Solid R (+54.0) · D 21.9% · R 75.9% · Other 2.2%
• 2008→2024 swing: -40.4pp toward R · 2008: -13.7pp · 2024: -54.0pp
• All cycles: 2024: R+54.0 2020: R+54.0 2016: R+52.2 2012: R+34.3 2008: R+13.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.42%
• Current HPI: 242.9265
• 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

+120.0% since first listed

2 events — show timeline

• 2026-06-01 Listed $55,000 SEIBR
• 2026-04-27 Sold (Public Records) $25,000 Public Records

Property tax history

-19.8%/yr

Latest (2024): $47 · +45.0% YoY. Source: county tax records.