106 S Smith St · Boswell, IN 47921

$89,000

3 bd · 2.5 ba · 5,935 sqft · SingleFamily public records · 88 Days on market

Built 1900 0.33 ac lot $15/sqft · 39% below area Est $145k · 39% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• Appreciation +10.0/10.0
• 1% rule +6.5/10.0
• DSCR +4.3/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Almost 6000 sq ft waiting to be brought back to its former glory. Multiple out buildings and garages. This could be a large single-family home, multi-unit, business. The possibilities are endless. The plumbing system did not hold pressure at time of winterization. Damages are present. Water will not be on. Buyer to conduct due diligence. Due to condition, the property may have health/safety risk(s). Prior to entry / access, all parties must sign a Hold Harmless Agreement and the property may only be shown by appointment.

Key facts

• 0.33 acre lot
• 4 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $13 ($156/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#453 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime D-, amenities F.
• Benton Community School Corporation (rural): math 38% / reading 43% proficiency, ranked #134 of 301 in IN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP.

Forward outlook

• In year one you build about $10k of equity ($615 loan paydown + $9k appreciation (10.0% local appreciation)).
• Benton County population projected at -13% 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, 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 88 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 1.15% ✓
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• GRM: 7.2

CMA / ARV

• ARV (median comp): $145,000
• List price: $89,000
• Delta: -38.62%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 24.8%
• Equity multiple: 2.98×
• Total profit: $49,428
• Equity at exit: $80,178

10-year hold

• IRR: 21.9%
• Equity multiple: 6.82×
• Total profit: $145,157
• Equity at exit: $172,907

Cash invested: $24,920 (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 47921

• Home prices YoY: 3.4%
• Active inventory: 9
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,024 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$292 /mo · $3,509/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $13

Break-even live

Break-even rent $1,008

Max offer price $89,000

Occupancy floor 94%

Sensitivity live

Price	-10% $63	-5% $38	+0% $13	+5% $-12	+10% $-37
Rent	-10% $-68	-5% $-27	+0% $13	+5% $53	+10% $94
Rate	-1.0pp $58	-0.5pp $36	base $13	+0.5pp $-10	+1.0pp $-33

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $89,000 Active 88 DOM
2. 2026-06-18
   days on market $89,000 Active 87 DOM
3. 2026-06-17
   days on market $89,000 Active 86 DOM
4. 2026-06-16
   days on market $89,000 Active 85 DOM
5. 2026-06-15
   days on market $89,000 Active 84 DOM
6. 2026-06-14
   days on market $89,000 Active 82 DOM
7. 2026-06-13
   days on market $89,000 Active 81 DOM
8. 2026-06-10
   days on market $89,000 Active 79 DOM
9. 2026-06-09
   days on market $89,000 Active 78 DOM
10. 2026-06-08
    days on market $89,000 Active 77 DOM
11. 2026-06-07
    days on market $89,000 Active 76 DOM
12. 2026-06-02
    days on market $89,000 Active 71 DOM
13. 2026-06-01
    days on market $89,000 Active 70 DOM
14. 2026-05-31
    days on market $89,000 Active 69 DOM
15. 2026-05-30
    days on market $89,000 Active 68 DOM
16. 2026-04-28
    price $94,000 526-char remark

    Show marketing remark (526 chars)

    Almost 6000 sq ft waiting to be brought back to its former glory. Multiple out buildings and garages. This could be a large single-family home, multi-unit, business. The possibilities are endless. The plumbing system did not hold pressure at time of winterization. Damages are present. Water will not be on. Buyer to conduct due diligence. Due to condition, the property may have health/safety risk(s). Prior to entry / access, all parties must sign a Hold Harmless Agreement and the property may only be shown by appointment.

17. 2026-03-23
    listed $99,000 Active 526-char remark

    Show marketing remark (526 chars)

    Almost 6000 sq ft waiting to be brought back to its former glory. Multiple out buildings and garages. This could be a large single-family home, multi-unit, business. The possibilities are endless. The plumbing system did not hold pressure at time of winterization. Damages are present. Water will not be on. Buyer to conduct due diligence. Due to condition, the property may have health/safety risk(s). Prior to entry / access, all parties must sign a Hold Harmless Agreement and the property may only be shown by appointment.

18. 2015-10-07
    soldstatus $70,000

ⓘ 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: $3,509 · $292/mo
• Projected year-2 tax: $3,509 · $292/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 ≥101°F today · 18 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: $12,292
• − Mortgage interest: −$4,985
• − Property taxes: −$3,509
• − Insurance: −$445
• − Repairs & maintenance: −$983
• − Management: −$983
• − Depreciation: −$2,589
• Taxable loss: −$1,203
• Est. tax savings @ 24.0%: +$289
• After-tax cash flow: $445/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: Benton Community School Corporation
• NCES district ID: 1800480
• Math proficiency: 38% ▼ -7.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $50,073
• Composite: 34.9/100
• National rank: #5076
• State rank: #134 of 301 in IN

Livability — Boswell

• Score: 62/100
• State rank: #453
• US rank: #16100

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boswell, IN
• Population (ZIP): 1,131

Population outlook (Benton County) Hauer SSP2

• Today (2025): 8,404 people
• By 2030: 8,234 · -2.0%
• By 2040: 7,832 · -6.8%
• By 2050: 7,337 · -12.7%
• By 2075: 6,436 · -23.4%
• By 2100: 5,139 · -38.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 22% Black 4% Two or more races 3%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Slovak 3% Portuguese 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 83% English-only · Spanish 16% Korean 1%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+47.1) · D 25.5% · R 72.7% · Other 1.8%
• 2008→2024 swing: -30.9pp toward R · 2008: -16.3pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+48.6 2016: R+47.0 2012: R+32.7 2008: R+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.21%
• Current HPI: 345.0506
• 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

+34.3% since first listed

3 events — show timeline

• 2026-04-28 Price Changed $94,000 IRMLS
• 2026-03-23 Listed $99,000 IRMLS
• 2015-10-07 Sold (Public Records) $70,000 Public Records

Property tax history

+4.4%/yr

Latest (2024): $3,509 · +5.6% YoY. Source: county tax records.