224 N Jackson St · Oakland City, IN 47660

$92,500

2 bd · 1.0 ba · 826 sqft · SingleFamily public records · 3 Days on market

Built 1920 6,098 sqft lot Est $110k · 16% 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).

• Cash flow +15.7/30.0
• ARV discount +14.6/15.0
• Appreciation +10.0/10.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome home to this charming and well-maintained 2 bedroom, 1 bath home located in the heart of Oakland City! This property blends timeless character with numerous important updates throughout the years. From the moment you arrive, the welcoming front porch invites you to slow down and enjoy small-town living. Inside, the spacious living room features a gas backup wall unit along with beautiful original built-in bookcases and classic craftsman-style carpentry that creates a warm transition into the dining room. The dining area offers a wonderful bump-out window seat, perfect for additional seating or a cozy reading nook, along with added storage space. The home features two main-floor bedr

Key facts

• Large picture window
• Updated kitchen
• Bump-out window seat

Tags

• WELCOMING FRONT PORCH
• ORIGINAL BUILT-IN BOOKCASES
• CRAFTSMAN-STYLE CARPENTRY
• BUMP-OUT WINDOW SEAT
• UPDATED KITCHEN
• LARGE PICTURE WINDOW

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Carport; Gravel parking; 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); 1 story; Entry level on main floor
• Construction: Vinyl siding; Asphalt roof; Block foundation; Built as site-built home
• Exterior features: Chain link fencing; Level lot; Shed(s)

Interior

• Kitchen: Dishwasher; Refrigerator; Gas Range
• Flooring: Carpet
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Ventless fireplace; Full unfinished basement with sump pump; 4 total rooms
• Laundry & utility: Washer hookup (main level); Electric dryer hookup (main level)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $41 ($497/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (6.9% below list).
• Recommended offer: $86k (6.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#349 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• East Gibson School Corporation (town): math 40% / reading 35% proficiency, ranked #171 of 301 in IN (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Waldo J Wood Memorial Jhs (math 27% / reading 32%, grade F, #212 of 330 statewide, top 67%, 119 students, 60% FRL); Waldo J Wood Memorial High (math 34% / reading 44%, grade F, #221 of 369 statewide, top 63%, 212 students, 37% FRL).
• Market conditions: 26 active listings in the ZIP; 167 units permitted in Gibson County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($640 loan paydown + $9k appreciation (10.0% local appreciation)).
• Gibson County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $40k; list at $92k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,158 (6.9% below list)

Questions for the listing agent

1. Built in 1920 — 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: 0.93% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.92%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $109,858
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 N Jackson St	0.09mi	2/1.0	748 (-9%)	2mo	$125,000	$167	79
126 W Harrison St	0.15mi	2/2.0	840 (+2%)	17mo	$25,000	$30	72
331 S Franklin St	0.49mi	2/1.0	800 (-3%)	0mo	$137,000	$171	71
726 S Franklin St	0.62mi	2/1.0	858 (+4%)	2mo	$123,000	$143	63
118 W Cherry St	0.21mi	2/1.0	922 (+12%)	17mo	$127,000	$138	57
518 N Short St	0.33mi	2/1.0	933 (+13%)	8mo	$123,888	$133	56
226 S Mulberry St	0.28mi	1/1.0 (-1)	758 (-8%)	20mo	$10,000	$13	52
634 W Division St	0.61mi	2/1.0	880 (+6%)	14mo	$30,000	$34	49
531 Sherman St	0.38mi	1/1.0 (-1)	904 (+9%)	19mo	$105,000	$116	45
426 S Jackson St	0.39mi	1/1.0 (-1)	942 (+14%)	14mo	$10,800	$11	42
410 W Elm St	0.41mi	1/1.0 (-1)	739 (-10%)	22mo	$89,900	$122	40
1862 S 1190 St E	0.72mi	3/2.0 (+1)	918 (+11%)	10mo	$130,000	$142	30

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: 25.7%
• Equity multiple: 3.05×
• Total profit: $53,028
• Equity at exit: $83,331

10-year hold

• IRR: 22.6%
• Equity multiple: 6.95×
• Total profit: $154,110
• Equity at exit: $179,707

Cash invested: $25,900 (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 47660

• Home prices YoY: 7.7%
• Active inventory: 26
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $862 medium
• Mortgage (P&I): −$485
• Tax est. 1.5%: −$116 /mo · $1,388/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $41

Break-even live

Break-even rent $809

Max offer price $92,500

Occupancy floor 90%

Sensitivity live

Price	-10% $105	-5% $73	+0% $41	+5% $9	+10% $-23
Rent	-10% $-27	-5% $7	+0% $41	+5% $75	+10% $109
Rate	-1.0pp $88	-0.5pp $65	base $41	+0.5pp $17	+1.0pp $-7

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: $23,125
• Closing costs: $2,775
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-19
   listed $92,500 Active
2. 2016-08-25
   soldstatus $40,000

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,339
• − Mortgage interest: −$5,181
• − Property taxes: −$1,388
• − Insurance: −$462
• − Repairs & maintenance: −$827
• − Management: −$827
• − Depreciation: −$2,691
• Taxable loss: −$1,038
• Est. tax savings @ 24.0%: +$249
• After-tax cash flow: $746/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: East Gibson School Corporation
• NCES district ID: 1802940
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $42,426
• Composite: 31.73/100
• National rank: #5908
• State rank: #171 of 301 in IN

Livability — Oakland City

• Score: 65/100
• State rank: #349
• US rank: #13364

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland City, IN
• Population (ZIP): 4,819

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 33,671 people
• By 2030: 33,409 · -0.8%
• By 2040: 32,364 · -3.9%
• By 2050: 30,453 · -9.6%
• By 2075: 24,610 · -26.9%
• By 2100: 16,217 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 2%
• Common ancestry: Lithuanian 2% Serbian 2% Scottish 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+51.4) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -38.2pp toward R · 2008: -13.2pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.2 2016: R+47.6 2012: R+31.0 2008: R+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.71%
• Current HPI: 234.1104
• 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

+131.2% since first listed

2 events — show timeline

• 2026-05-19 Listed $92,500 IRMLS
• 2016-08-25 Sold (Public Records) $40,000 Public Records

Property tax history

+0.0%/yr

Latest (2020): $5 · +0.0% YoY. Source: county tax records.