105 High St · North Vernon, IN 47265

$85,000

2 bd · 1.0 ba · 780 sqft · SingleFamily public records · 2 Days on market

Built 1950 7,500 sqft lot Est $85k · at est.

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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).

• Cash flow +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2 bedroom, 1 bath, central air home. 2 car garage with opener. Front porch and enclosed rear porch. Replacement windows. Selling AS IS, cash or conventional only. A great investment opportunity.

Key facts

• 7,500 sq ft lot
• 2 garage spots
• Built 1950

Property features AI

Exterior

• Parking: Detached 2-car garage with garage door opener
• Utilities: Public water; Municipal sewer
• Home design: Single family residence; One level
• Construction: Aluminum siding; Block foundation
• Exterior features: Porch; Mature trees on the lot

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic access; Woodwork stained/painted; Laundry in unit
• Laundry & utility: Laundry in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($930 rent vs $85k).
• Cap rate 9.4% vs local median 4.1% in North Vernon — 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 79/100 on livability (#29 in IN, #2,347 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Jennings County School Corporation (rural): math 32% / reading 38% proficiency, ranked #194 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jennings County High School (math 26% / reading 62%, grade F, #189 of 369 statewide, top 51%, 1,184 students, 52% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 160 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 84 units permitted in Jennings County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jennings County population projected at -21% 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 $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1950 — 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: 1.09% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.24%
• DSCR: 1.50
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $85,020
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 High St	0.00mi	2/1.0	780 (0%)	0mo	$80,000	$103	100
105 Myrtle St	0.41mi	2/1.0	768 (-2%)	12mo	$110,000	$143	69
35 Hayden Pike	0.15mi	2/1.0	844 (+8%)	17mo	$32,500	$39	65
267 Lincoln St	0.53mi	2/1.0	768 (-2%)	12mo	$150,000	$195	63
145 Hayden Pike	0.26mi	2/1.0	880 (+13%)	10mo	$95,650	$109	58
237 Norris Ave	0.61mi	2/1.0	888 (+14%)	8mo	$45,000	$51	42
238 Norris Ave	0.61mi	2/1.0	672 (-14%)	11mo	$140,000	$208	40

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: 0.4%
• Equity multiple: 1.02×
• Total profit: $388
• Equity at exit: $12,674

10-year hold

• IRR: 10.0%
• Equity multiple: 1.78×
• Total profit: $18,484
• Equity at exit: $7,349

Cash invested: $23,800 (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 47265

• Home prices YoY: -31.5%
• Active inventory: 160
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $930 high
• Mortgage (P&I): −$446
• Tax from tax record: −$30 /mo · $365/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $223

Break-even live

Break-even rent $648

Max offer price $85,000

Occupancy floor 71%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1450 Oak Meadows Dr North Vernon, IN	2.0–3.0	1.0–2.0	872	$875	$1.00	43d	1	0.31mi
205 Long St North Vernon, IN	2.0	1.0	750	$875	$1.17	43d	1	0.68mi
105 Greensburg St Unit 2 North Vernon, IN	1.0	1.0	638	$875	$1.37	43d	1	0.81mi
8 Westside Ct North Vernon, IN	2.0	1.0	870	$950	$1.09	43d	1	0.84mi
450 N Greensburg St North Vernon, IN	2.0	1.0	720	$875	$1.22	43d	1	0.92mi
2985 N State St North Vernon, IN	2.0	1.0	1055	$1,350	$1.28	43d	1	0.96mi

Listing history 3 events

1. 2026-05-26
   listed $85,000 Active
2. 2015-10-19
   historical
3. 2015-05-18
   listed $67,900

ⓘ 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: $365 · $30/mo
• Projected year-2 tax: $544 · $45/mo
• Expected delta: +$179/yr (+$15/mo · 49.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥105°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,156
• − Mortgage interest: −$4,761
• − Property taxes: −$365
• − Insurance: −$425
• − Repairs & maintenance: −$893
• − Management: −$893
• − Depreciation: −$2,473
• Taxable income: $1,347
• Est. tax owed @ 24.0%: −$323
• After-tax cash flow: $2,351/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: Jennings County School Corporation
• NCES district ID: 1805190
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $45,418
• Composite: 29.89/100
• National rank: #6394
• State rank: #194 of 301 in IN

Livability — North Vernon

• Score: 79/100
• State rank: #29
• US rank: #2347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Vernon, IN
• City population: 20,981
• Population (ZIP): 20,981

Population outlook (Jennings County) Hauer SSP2

• Today (2025): 26,584 people
• By 2030: 25,591 · -3.7%
• By 2040: 23,423 · -11.9%
• By 2050: 20,973 · -21.1%
• By 2075: 15,445 · -41.9%
• By 2100: 10,714 · -59.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 2% Romanian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Jennings

• 2024 margin: Solid R (+58.8) · D 19.7% · R 78.5% · Other 1.8%
• 2008→2024 swing: -50.8pp toward R · 2008: -8.0pp · 2024: -58.8pp
• All cycles: 2024: R+58.8 2020: R+56.9 2016: R+52.7 2012: R+22.4 2008: R+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.36%
• Current HPI: 233.0275
• 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

+25.2% since first listed

3 events — show timeline

• 2026-05-26 Listed $85,000 MIBOR as Distributed by MLS Grid
• 2015-10-19 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-05-18 Listed $67,900 MIBOR as Distributed by MLS Grid

Property tax history

-11.9%/yr

Latest (2024): $365 · +5.5% YoY. Source: county tax records.