321 E Oak St · Oakland City, IN 47660

$149,900

2 bd · 1.0 ba · 1,066 sqft · SingleFamily public records · 21 Days on market

Built 1920 4,792 sqft lot Est $128k · 17% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +9.0/30.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Great opportunity on a nice corner lot! Detached 1 car garage and 1 car carport. Inside you'll find a spacious eat-in kitchen with tons of cabinet space and a separate laundry room. Primary bedroom features a large walk-in closet. Unfinished basement for extra storage!

Key facts

• Carport
• Mudroom laundry room
• Updated kitchen

Tags

• CORNER LOT
• DETACHED GARAGE
• CARPORT
• MUDROOM LAUNDRY ROOM
• UPDATED KITCHEN
• FULLY UPDATED BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (34.1% below list).
• Recommended offer: $99k (34.1% 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 $16k of equity ($1k loan paydown + $15k 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.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 5 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.
• Current owner paid $70k; list at $150k implies a 114% 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 $98,723 (34.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.66% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.34%
• DSCR: 0.85
• GRM: 12.7

CMA / ARV

• ARV (on-the-fly): $127,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
415 E Oak St	0.04mi	2/1.0	1,074 (+1%)	3mo	$116,500	$108	94
334 S Jackson St	0.12mi	2/1.0	988 (-7%)	2mo	$118,400	$120	80
114 S Main St	0.18mi	2/1.0	1,008 (-5%)	3mo	$99,000	$98	80
523 W Morton St	0.54mi	2/1.0	1,086 (+2%)	3mo	$64,000	$59	69
1827 S 1200 E	0.48mi	2/1.0	1,087 (+2%)	9mo	$117,500	$108	67
431 E Washington St	0.13mi	3/2.0 (+1)	1,200 (+13%)	0mo	$215,000	$179	64
326 W Vine St	0.50mi	2/1.0	960 (-10%)	2mo	$129,000	$134	58
518 N Short St	0.48mi	2/1.0	933 (-12%)	8mo	$123,888	$133	50
426 N Lincoln St	0.36mi	3/2.0 (+1)	1,200 (+13%)	9mo	$169,000	$141	46
827 N Polk St	0.70mi	3/1.0 (+1)	1,160 (+9%)	3mo	$70,000	$60	45
117 N Third Ave	0.69mi	2/1.0	964 (-10%)	9mo	$103,400	$107	44
1862 S 1190 St E	0.52mi	3/2.0 (+1)	918 (-14%)	10mo	$130,000	$142	35

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: 21.9%
• Equity multiple: 2.77×
• Total profit: $74,136
• Equity at exit: $135,042

10-year hold

• IRR: 19.7%
• Equity multiple: 6.34×
• Total profit: $224,023
• Equity at exit: $291,223

Cash invested: $41,972 (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: 12.7×

Monthly cashflow live

• Estimated rent: $987 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$48 /mo · $577/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $-117

Break-even live

Break-even rent $1,135

Max offer price $129,285

Occupancy floor —

Sensitivity live

Price	-10% $-32	-5% $-74	+0% $-117	+5% $-159	+10% $-202
Rent	-10% $-195	-5% $-156	+0% $-117	+5% $-78	+10% $-39
Rate	-1.0pp $-41	-0.5pp $-79	base $-117	+0.5pp $-156	+1.0pp $-195

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-09
   statusdays on market $149,900 Pending 21 DOM
2. 2026-06-08
   days on market $149,900 Active 20 DOM
3. 2026-06-07
   days on market $149,900 Active 19 DOM
4. 2026-06-07
   days on market $149,900 Active 18 DOM
5. 2026-06-04
   days on market $149,900 Active 15 DOM
6. 2026-06-02
   statusdays on market $149,900 Active 14 DOM
7. 2026-04-16
   status Pending
8. 2026-04-02
   listed $149,900 Active
9. 2026-01-07
   soldstatus $70,000 Closed 269-char remark

   Show marketing remark (269 chars)

   Great opportunity on a nice corner lot! Detached 1 car garage and 1 car carport. Inside you'll find a spacious eat-in kitchen with tons of cabinet space and a separate laundry room. Primary bedroom features a large walk-in closet. Unfinished basement for extra storage!

10. 2025-12-29
    status Pending 269-char remark

    Show marketing remark (269 chars)

    Great opportunity on a nice corner lot! Detached 1 car garage and 1 car carport. Inside you'll find a spacious eat-in kitchen with tons of cabinet space and a separate laundry room. Primary bedroom features a large walk-in closet. Unfinished basement for extra storage!

11. 2025-12-08
    price $70,000 269-char remark

    Show marketing remark (269 chars)

    Great opportunity on a nice corner lot! Detached 1 car garage and 1 car carport. Inside you'll find a spacious eat-in kitchen with tons of cabinet space and a separate laundry room. Primary bedroom features a large walk-in closet. Unfinished basement for extra storage!

12. 2025-11-08
    price $72,000 269-char remark

    Show marketing remark (269 chars)

    Great opportunity on a nice corner lot! Detached 1 car garage and 1 car carport. Inside you'll find a spacious eat-in kitchen with tons of cabinet space and a separate laundry room. Primary bedroom features a large walk-in closet. Unfinished basement for extra storage!

13. 2025-10-07
    price $74,000 269-char remark

    Show marketing remark (269 chars)

    Great opportunity on a nice corner lot! Detached 1 car garage and 1 car carport. Inside you'll find a spacious eat-in kitchen with tons of cabinet space and a separate laundry room. Primary bedroom features a large walk-in closet. Unfinished basement for extra storage!

14. 2025-08-30
    price $76,000 269-char remark

    Show marketing remark (269 chars)

    Great opportunity on a nice corner lot! Detached 1 car garage and 1 car carport. Inside you'll find a spacious eat-in kitchen with tons of cabinet space and a separate laundry room. Primary bedroom features a large walk-in closet. Unfinished basement for extra storage!

15. 2025-07-08
    listed $80,000 Active 269-char remark

    Show marketing remark (269 chars)

    Great opportunity on a nice corner lot! Detached 1 car garage and 1 car carport. Inside you'll find a spacious eat-in kitchen with tons of cabinet space and a separate laundry room. Primary bedroom features a large walk-in closet. Unfinished basement for extra storage!

16. 2023-08-25
    soldstatus $94,000 Closed 1139-char remark

    Show marketing remark (1139 chars)

    Welcome to this lovely 2-bedroom, 1-bath bungalow home situated on a spacious corner lot. With its open floor plan, convenient location, unfinished basement, carport and detached 2.5 car garage this property offers comfortable and convenient living. The open floor plan is a standout feature. The living room is bright and inviting, thanks to the bay window that fills the space with natural light. The huge eat-in kitchen has plenty of cabinets and counter work space. The main level laundry is conveniently located adjacent to the kitchen. All kitchen appliances are included as well as the washer and dryer adding to the benefits of this home. Both bedrooms are generous in size and one has a large walk-in closet. The unfinished basement is great for extra storage. In addition, the home features a carport and a generous 2.5-car detached garage, providing ample parking space and additional storage for vehicles, tools, and equipment. Don't miss the opportunity to make this charming bungalow your own. Whether you're a first-time homeowner or looking to downsize, this property offers a comfortable living space with great potential.

17. 2023-08-23
    soldstatus $94,000
18. 2023-08-08
    status Pending 1139-char remark

    Show marketing remark (1139 chars)

    Welcome to this lovely 2-bedroom, 1-bath bungalow home situated on a spacious corner lot. With its open floor plan, convenient location, unfinished basement, carport and detached 2.5 car garage this property offers comfortable and convenient living. The open floor plan is a standout feature. The living room is bright and inviting, thanks to the bay window that fills the space with natural light. The huge eat-in kitchen has plenty of cabinets and counter work space. The main level laundry is conveniently located adjacent to the kitchen. All kitchen appliances are included as well as the washer and dryer adding to the benefits of this home. Both bedrooms are generous in size and one has a large walk-in closet. The unfinished basement is great for extra storage. In addition, the home features a carport and a generous 2.5-car detached garage, providing ample parking space and additional storage for vehicles, tools, and equipment. Don't miss the opportunity to make this charming bungalow your own. Whether you're a first-time homeowner or looking to downsize, this property offers a comfortable living space with great potential.

19. 2023-08-07
    historical 1139-char remark

    Show marketing remark (1139 chars)

    Welcome to this lovely 2-bedroom, 1-bath bungalow home situated on a spacious corner lot. With its open floor plan, convenient location, unfinished basement, carport and detached 2.5 car garage this property offers comfortable and convenient living. The open floor plan is a standout feature. The living room is bright and inviting, thanks to the bay window that fills the space with natural light. The huge eat-in kitchen has plenty of cabinets and counter work space. The main level laundry is conveniently located adjacent to the kitchen. All kitchen appliances are included as well as the washer and dryer adding to the benefits of this home. Both bedrooms are generous in size and one has a large walk-in closet. The unfinished basement is great for extra storage. In addition, the home features a carport and a generous 2.5-car detached garage, providing ample parking space and additional storage for vehicles, tools, and equipment. Don't miss the opportunity to make this charming bungalow your own. Whether you're a first-time homeowner or looking to downsize, this property offers a comfortable living space with great potential.

20. 2023-07-10
    status Pending 1139-char remark

    Show marketing remark (1139 chars)

    Welcome to this lovely 2-bedroom, 1-bath bungalow home situated on a spacious corner lot. With its open floor plan, convenient location, unfinished basement, carport and detached 2.5 car garage this property offers comfortable and convenient living. The open floor plan is a standout feature. The living room is bright and inviting, thanks to the bay window that fills the space with natural light. The huge eat-in kitchen has plenty of cabinets and counter work space. The main level laundry is conveniently located adjacent to the kitchen. All kitchen appliances are included as well as the washer and dryer adding to the benefits of this home. Both bedrooms are generous in size and one has a large walk-in closet. The unfinished basement is great for extra storage. In addition, the home features a carport and a generous 2.5-car detached garage, providing ample parking space and additional storage for vehicles, tools, and equipment. Don't miss the opportunity to make this charming bungalow your own. Whether you're a first-time homeowner or looking to downsize, this property offers a comfortable living space with great potential.

21. 2023-07-07
    listed $89,900 Active 1139-char remark

    Show marketing remark (1139 chars)

    Welcome to this lovely 2-bedroom, 1-bath bungalow home situated on a spacious corner lot. With its open floor plan, convenient location, unfinished basement, carport and detached 2.5 car garage this property offers comfortable and convenient living. The open floor plan is a standout feature. The living room is bright and inviting, thanks to the bay window that fills the space with natural light. The huge eat-in kitchen has plenty of cabinets and counter work space. The main level laundry is conveniently located adjacent to the kitchen. All kitchen appliances are included as well as the washer and dryer adding to the benefits of this home. Both bedrooms are generous in size and one has a large walk-in closet. The unfinished basement is great for extra storage. In addition, the home features a carport and a generous 2.5-car detached garage, providing ample parking space and additional storage for vehicles, tools, and equipment. Don't miss the opportunity to make this charming bungalow your own. Whether you're a first-time homeowner or looking to downsize, this property offers a comfortable living space with great potential.

22. 2019-12-20
    soldstatus $60,000
23. 2019-12-17
    soldstatus $60,000
24. 2019-10-07
    listed $62,500
25. 2015-12-16
    soldstatus $50,500
26. 2015-11-24
    soldstatus $50,500
27. 2015-09-24
    listed $53,000
28. 2011-06-16
    soldstatus $44,600

ⓘ 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: $577 · $48/mo
• Projected year-2 tax: $925 · $77/mo
• Expected delta: +$349/yr (+$29/mo · 60.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $11,847
• − Mortgage interest: −$8,397
• − Property taxes: −$577
• − Insurance: −$750
• − Repairs & maintenance: −$948
• − Management: −$948
• − Depreciation: −$4,361
• Taxable loss: −$4,132
• Est. tax savings @ 24.0%: +$992
• After-tax cash flow: $-409/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

+236.1% since first listed

22 events — show timeline

• 2026-04-16 Pending — IRMLS
• 2026-04-02 Listed $149,900 IRMLS
• 2026-01-07 Sold (MLS) $70,000 IRMLS
• 2025-12-29 Pending — IRMLS
• 2025-12-08 Price Changed $70,000 IRMLS
• 2025-11-08 Price Changed $72,000 IRMLS
• 2025-10-07 Price Changed $74,000 IRMLS
• 2025-08-30 Price Changed $76,000 IRMLS
• 2025-07-08 Listed $80,000 IRMLS
• 2023-08-25 Sold (MLS) $94,000 IRMLS
• 2023-08-23 Sold (Public Records) $94,000 Public Records
• 2023-08-08 Pending — IRMLS
• 2023-08-07 Delisted — IRMLS
• 2023-07-10 Pending — IRMLS
• 2023-07-07 Listed $89,900 IRMLS
• 2019-12-20 Sold (Public Records) $60,000 Public Records
• 2019-12-17 Sold (MLS) $60,000 IRMLS
• 2019-10-07 Listed $62,500 IRMLS
• 2015-12-16 Sold (Public Records) $50,500 Public Records
• 2015-11-24 Sold (MLS) $50,500 IRMLS
• 2015-09-24 Listed $53,000 IRMLS
• 2011-06-16 Sold (Public Records) $44,600 Public Records

Property tax history

-0.0%/yr

Latest (2024): $577 · -16.3% YoY. Source: county tax records.