542 S Wall · Winchester, IN 47394

$35,900

2 bd · 1.0 ba · 834 sqft · SingleFamily public records · 17 Days on market

Built 1900 5,206 sqft 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This charming fixer-upper is full of potential and priced to sell! Featuring 2 bedrooms and 1 bathroom, this home is a blank canvas ready for your vision. Whether you're an investor looking for your next flip or a buyer wanting to build equity, this is an opportunity you don't want to miss.

Key facts

• 5,206 sq ft lot
• Built 1900
• Listed 17 days

Property features AI

Exterior

• Parking: No dedicated parking
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Slab foundation
• Exterior features: Storage shed

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Eat-in kitchen; Living room
• Laundry & utility: No appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($600 rent vs $36k).
• Recommended offer: $35k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 5.1% in Winchester — 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 67/100 on livability (#240 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety D, amenities F, commute F.
• Randolph Central School Corporation (town): math 32% / reading 37% proficiency, ranked #201 of 301 in IN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: O R Baker Elementary School (338 students, 57% FRL); Lee L Driver Middle School (math 27% / reading 33%, grade F, #208 of 330 statewide, top 64%, 291 students, 56% FRL); Winchester Community High School (math 17% / reading 47%, grade F, #295 of 369 statewide, top 82%, 414 students, 47% FRL).
• Market conditions: 52 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($248 loan paydown + $4k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts 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 $15k; list at $36k implies a 139% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,361 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.67% ✓
• Cap rate: 13.84%
• Cash-on-cash: 26.97%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $99,246
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
542 S Wall St	0.00mi	2/1.0	834 (0%)	13mo	$15,000	$18	90
534 S Western Ave	0.07mi	2/1.0	825 (-1%)	10mo	$125,000	$152	87
407 Westwood Dr	0.32mi	2/1.0	806 (-3%)	2mo	$120,000	$149	78
315 W Orange St	0.03mi	2/1.0	948 (+14%)	1mo	$85,000	$90	75
419 E Carl St	0.51mi	2/1.0	877 (+5%)	9mo	$103,900	$118	60
118 W Third St	0.70mi	2/1.0	748 (-10%)	10mo	$89,000	$119	42

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

Projected returns pro-forma

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

5-year hold

• IRR: 44.7%
• Equity multiple: 4.38×
• Total profit: $33,949
• Equity at exit: $32,342

10-year hold

• IRR: 38.7%
• Equity multiple: 9.82×
• Total profit: $88,678
• Equity at exit: $69,746

Cash invested: $10,052 (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 47394

• Home prices YoY: 6.8%
• Active inventory: 52
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $600 medium
• Mortgage (P&I): −$188
• Tax est. 1.5%: −$45 /mo · $538/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$126
• Net cashflow: $226

Break-even live

Break-even rent $314

Max offer price $35,900

Occupancy floor 57%

Sensitivity live

Price	-10% $251	-5% $238	+0% $226	+5% $213	+10% $201
Rent	-10% $179	-5% $202	+0% $226	+5% $250	+10% $273
Rate	-1.0pp $244	-0.5pp $235	base $226	+0.5pp $217	+1.0pp $207

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: $8,975
• Closing costs: $1,077
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1526 S Old Highway 27 Winchester, IN	2.0	1.0	600	$600	$1.00	45d	1	1.09mi

Listing history 12 events

1. 2026-06-21
   days on market $35,900 Active 17 DOM
2. 2026-06-21
   days on market $35,900 Active 16 DOM
3. 2026-06-18
   days on market $35,900 Active 14 DOM
4. 2026-06-17
   days on market $35,900 Active 13 DOM
5. 2026-06-16
   days on market $35,900 Active 12 DOM
6. 2026-06-15
   days on market $35,900 Active 11 DOM
7. 2026-06-13
   days on market $35,900 Active 9 DOM
8. 2026-06-12
   days on market $35,900 Active 8 DOM
9. 2026-06-09
   days on market $35,900 Active 5 DOM
10. 2026-06-08
    days on market $35,900 Active 4 DOM
11. 2026-06-07
    remarks 110-char remark
12. 2026-06-07
    listed $35,900 Active 3 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 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $7,200
• − Mortgage interest: −$2,011
• − Property taxes: −$538
• − Insurance: −$180
• − Repairs & maintenance: −$576
• − Management: −$576
• − Depreciation: −$1,044
• Taxable income: $2,275
• Est. tax owed @ 24.0%: −$546
• After-tax cash flow: $2,165/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 Central School Corporation
• NCES district ID: 1801770
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $41,627
• Composite: 29.12/100
• National rank: #6589
• State rank: #201 of 301 in IN

Livability — Winchester

• Score: 67/100
• State rank: #240
• US rank: #10313

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winchester, IN
• City population: 8,137
• Population (ZIP): 8,137

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 (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1% Other Asian/Pacific 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: ▲ 14.76%
• Current HPI: 233.216
• 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

+2.9% since first listed

20 events — show timeline

• 2026-06-04 Listed $35,900 MIBOR as Distributed by MLS Grid
• 2026-05-01 Rental Removed $539 TURBOTENANT
• 2026-04-29 Listed for Rent $539 TURBOTENANT
• 2026-04-28 Rental Removed $539 TURBOTENANT
• 2026-03-26 Price Changed $539 TURBOTENANT
• 2026-03-18 Listed for Rent $549 TURBOTENANT
• 2025-09-25 Rental Removed $699 TURBOTENANT
• 2025-09-19 Listed for Rent $699 TURBOTENANT
• 2025-06-04 Sold (MLS) $15,000 IRMLS
• 2025-06-04 Sold (MLS) $15,000 RRELMS
• 2025-05-19 Pending — IRMLS
• 2025-05-19 Pending — RRELMS
• 2025-05-02 Price Changed $29,900 IRMLS
• 2025-05-02 Price Changed $29,900 RRELMS
• 2025-04-29 Relisted — RRELMS
• 2025-04-29 Relisted — IRMLS
• 2025-04-21 Pending — RRELMS
• 2025-04-21 Pending — IRMLS
• 2025-04-18 Listed $34,900 IRMLS
• 2025-04-18 Listed $34,900 RRELMS

Property tax history

-18.6%/yr

Latest (2024): $28 · +0.0% YoY. Source: county tax records.