611 N Sycamore St

Ladoga, IN 47954

$139,000F

3 bd · 1.0 ba · 888 sqft · Built 1952 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,002/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$232
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $-169/mo
• Annual: $-2,024/yr
• Cap rate: 4.84%
• Cash-on-cash: -5.20%
• DSCR: 0.77
• 1% rule: 0.72%
• Cash to close: $38,920

Investor read

• This is a 3-bed/1.0-bath single-family listed at $139k.
• At list price, monthly cash flow is $-169 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (17.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (27.9% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $100k (27.9% below list) — sets the bar for 1% rule.
• In year one you build about $15k of equity ($961 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#244 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute 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: Southmont Sr High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 477 students, 39% FRL).
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 active listings in the ZIP; 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 23y 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 $79k; list at $139k implies a 76% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.