207 W Union St · Waynetown, IN 47990

$65,000

3 bd · 1.0 ba · 1,047 sqft · SingleFamily public records · 76 Days on market

Built 1956 8,581 sqft lot

---

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
• Appreciation +6.4/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Cozy Comfortable Home located in Waynetown. 3 bedroom, 1 full bath. Needs TLC but has plenty of possibilities. Lots of flowers, white picket fence, large backyard with more flowers. Roof 5 yrs old. Furnace & water heater 5 years old. Full bath has been remodeled. Added insulation. 2 AC window units. Newer windows. Make this your own. Seller is ready to go...!

Key facts

• 8,581 sq ft lot
• Built 1956
• Listed 75 days

Property features AI

Finance

• Other: Property classified as residential; Horse amenities: none; Low-maintenance lifestyle: no

Exterior

• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; Two levels
• Construction: Wood siding; Crawl space foundation
• Exterior features: Approximately 0.2-acre lot; Noted as fixer condition

Interior

• Kitchen: Refrigerator
• Bedrooms: Two bedrooms total — one on the main level and one on the upper level
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; No central cooling listed
• Interior features: Pantry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $722 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#341 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• North Montgomery Community School Corporation (rural): math 47% / reading 53% proficiency, ranked #50 of 301 in IN (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Montgomery High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 516 students, 34% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: 7 active listings in the ZIP; 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (2.8% local appreciation)).
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 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 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.32% ✓
• Cap rate: 19.62%
• Cash-on-cash: 47.61%
• DSCR: 3.12
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $143,439
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 E Walnut St	0.33mi	3/1.0	1,052 (+0%)	16mo	$144,000	$137	70
119 E Washington St	0.27mi	2/2.0 (-1)	909 (-13%)	14mo	$150,000	$165	45
201 Blackford St	0.51mi	2/1.0 (-1)	1,128 (+8%)	20mo	$147,500	$131	42

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

Projected returns pro-forma

2.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.5%
• Equity multiple: 3.91×
• Total profit: $53,047
• Equity at exit: $28,364

10-year hold

• IRR: 52.4%
• Equity multiple: 7.89×
• Total profit: $125,466
• Equity at exit: $43,052

Cash invested: $18,200 (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 47990

• Home prices YoY: 1.2%
• Active inventory: 7
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,511 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$103 /mo · $1,242/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $722

Break-even live

Break-even rent $597

Max offer price $65,000

Occupancy floor 47%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $65,000 Active 76 DOM
2. 2026-06-17
   days on market $65,000 Active 75 DOM
3. 2026-06-16
   days on market $65,000 Active 74 DOM
4. 2026-06-15
   days on market $65,000 Active 73 DOM
5. 2026-06-14
   days on market $65,000 Active 71 DOM
6. 2026-06-13
   days on market $65,000 Active 70 DOM
7. 2026-06-10
   days on market $65,000 Active 68 DOM
8. 2026-06-09
   days on market $65,000 Active 67 DOM
9. 2026-06-08
   days on market $65,000 Active 66 DOM
10. 2026-06-07
    days on market $65,000 Active 65 DOM
11. 2026-06-05
    days on market $65,000 Active 62 DOM
12. 2026-06-02
    days on market $65,000 Active 60 DOM
13. 2026-06-01
    days on market $65,000 Active 59 DOM
14. 2026-05-31
    days on market $65,000 Active 58 DOM
15. 2026-05-30
    days on market $65,000 Active 57 DOM
16. 2026-04-29
    price $65,000
17. 2026-04-02
    listed $70,000 Active
18. 2021-04-02
    soldstatus $53,000 Closed 366-char remark

    Show marketing remark (366 chars)

    Cozy Comfortable Home located in Waynetown. 3 bedroom, 1 full bath. Needs TLC but has plenty of possibilities. Lots of flowers, white picket fence, large backyard with more flowers. Roof 5 yrs old. Furnace & water heater 5 years old. Full bath has been remodeled. Added insulation. 2 AC window units. Newer windows. Make this your own. Seller is ready to go...!

19. 2021-03-13
    status Pending 366-char remark

    Show marketing remark (366 chars)

    Cozy Comfortable Home located in Waynetown. 3 bedroom, 1 full bath. Needs TLC but has plenty of possibilities. Lots of flowers, white picket fence, large backyard with more flowers. Roof 5 yrs old. Furnace & water heater 5 years old. Full bath has been remodeled. Added insulation. 2 AC window units. Newer windows. Make this your own. Seller is ready to go...!

20. 2021-03-08
    price $53,000 366-char remark

    Show marketing remark (366 chars)

    Cozy Comfortable Home located in Waynetown. 3 bedroom, 1 full bath. Needs TLC but has plenty of possibilities. Lots of flowers, white picket fence, large backyard with more flowers. Roof 5 yrs old. Furnace & water heater 5 years old. Full bath has been remodeled. Added insulation. 2 AC window units. Newer windows. Make this your own. Seller is ready to go...!

21. 2020-10-27
    price $57,000 366-char remark

    Show marketing remark (366 chars)

    Cozy Comfortable Home located in Waynetown. 3 bedroom, 1 full bath. Needs TLC but has plenty of possibilities. Lots of flowers, white picket fence, large backyard with more flowers. Roof 5 yrs old. Furnace & water heater 5 years old. Full bath has been remodeled. Added insulation. 2 AC window units. Newer windows. Make this your own. Seller is ready to go...!

22. 2020-09-10
    price $59,000 366-char remark

    Show marketing remark (366 chars)

    Cozy Comfortable Home located in Waynetown. 3 bedroom, 1 full bath. Needs TLC but has plenty of possibilities. Lots of flowers, white picket fence, large backyard with more flowers. Roof 5 yrs old. Furnace & water heater 5 years old. Full bath has been remodeled. Added insulation. 2 AC window units. Newer windows. Make this your own. Seller is ready to go...!

23. 2020-08-18
    listed $62,000 Active 366-char remark

    Show marketing remark (366 chars)

    Cozy Comfortable Home located in Waynetown. 3 bedroom, 1 full bath. Needs TLC but has plenty of possibilities. Lots of flowers, white picket fence, large backyard with more flowers. Roof 5 yrs old. Furnace & water heater 5 years old. Full bath has been remodeled. Added insulation. 2 AC window units. Newer windows. Make this your own. Seller is ready to go...!

24. 2001-07-31
    soldstatus $51,000 98-char remark

    Show marketing remark (98 chars)

    ALL NEW WINDOWS & EXTERIOR DOOR NEW DRYWALL WIRING WATER LINES, VINYL SIDIN FUNACE IS 1 YR OLD

25. 2000-10-13
    listed $49,000 98-char remark

    Show marketing remark (98 chars)

    ALL NEW WINDOWS & EXTERIOR DOOR NEW DRYWALL WIRING WATER LINES, VINYL SIDIN FUNACE IS 1 YR OLD

ⓘ 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: $1,242 · $103/mo
• Projected year-2 tax: $1,242 · $103/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 ≥102°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: $18,130
• − Mortgage interest: −$3,641
• − Property taxes: −$1,242
• − Insurance: −$325
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − Depreciation: −$1,891
• Taxable income: $8,130
• Est. tax owed @ 24.0%: −$1,951
• After-tax cash flow: $6,714/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: North Montgomery Community School Corporation
• NCES district ID: 1807900
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 53% ▲ 3.00%
• Median HH income: $53,844
• Composite: 43.14/100
• National rank: #3076
• State rank: #50 of 301 in IN

Livability — Waynetown

• Score: 65/100
• State rank: #341
• US rank: #13119

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waynetown, IN
• Population (ZIP): 1,374

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 37,893 people
• By 2030: 37,539 · -0.9%
• By 2040: 36,536 · -3.6%
• By 2050: 34,454 · -9.1%
• By 2075: 28,852 · -23.9%
• By 2100: 21,145 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Serbian 8% Slovak 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 93% English-only · Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+48.2) · D 24.9% · R 73.2% · Other 1.9%
• 2008→2024 swing: -28.3pp toward R · 2008: -19.9pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+49.1 2016: R+50.9 2012: R+38.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.76%
• Current HPI: 231.2375
• 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

+32.7% since first listed

10 events — show timeline

• 2026-04-29 Price Changed $65,000 MIBOR as Distributed by MLS Grid
• 2026-04-02 Listed $70,000 MIBOR as Distributed by MLS Grid
• 2021-04-02 Sold (MLS) $53,000 MIBOR as Distributed by MLS Grid
• 2021-03-13 Pending — MIBOR as Distributed by MLS Grid
• 2021-03-08 Price Changed $53,000 MIBOR as Distributed by MLS Grid
• 2020-10-27 Price Changed $57,000 MIBOR as Distributed by MLS Grid
• 2020-09-10 Price Changed $59,000 MIBOR as Distributed by MLS Grid
• 2020-08-18 Listed $62,000 MIBOR as Distributed by MLS Grid
• 2001-07-31 Sold (MLS) $51,000 MIBOR as Distributed by MLS Grid
• 2000-10-13 Listed $49,000 MIBOR as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2025): $1,242 · +5.4% YoY. Source: county tax records.