15427 W 160 N · Medaryville, IN 47957

$194,000

2 bd · 1.5 ba · 2,552 sqft · SingleFamily public records · 29 Days on market

Built 1923 0.67 ac lot

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Why this score? — see what drove the D- 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 +9.7/10.0
• ARV discount +7.5/15.0
• Cash flow +6.8/30.0
• Schools +2.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0
• 1% rule +0.5/10.0

Listing remarks MLS

Very well kept and recently updated three bedroom, one and a half bath home with a basement just on the outskirts of town. Almost 2,000 sq. ft. of roomy living space that includes a large living room with vaulted ceiling, a great kitchen with plenty of cabinets, a separate laundry room, and converted attic space with a nice loft overlooking the living room. Updates include replacement windows throughout with transferrable warranty, furnace, A/C unit, and water heater. On the outside the vinyl siding, soffit, and facia were all recently replaced. Other exterior amenities include a covered front porch, a relaxing back deck with pergola and quiet latticed room, and a partially privacy fenced yard. There are also large storage outbuildings and a nice carport as well. A full compliment of kitchen and laundry appliances are available with an acceptable offer.

Key facts

• Covered front porch
• Updated kitchen
• 0.67 acre lot

Tags

• UPDATED KITCHEN
• CONVERTED ATTIC SPACE
• COVERED FRONT PORCH
• BACK DECK WITH PERGOLA
• PARTIALLY PRIVACY FENCED YARD
• LARGE STORAGE OUTBUILDINGS

Property features AI

Finance

• Other: Occupant is a tenant

Exterior

• Parking: Off-street parking
• Utilities: Well water; Septic tank
• Home design: One-and-one-half story home; Built in 1923
• Construction: Vinyl siding
• Exterior features: Covered porch and deck; Neighborhood view; Shed(s) and storage

Interior

• Kitchen: Gas range; Refrigerator; Microwave; Range hood; Dishwasher
• Bedrooms: Primary bedroom; Two additional bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Cathedral and vaulted ceilings; Laundry on main level; Basement with interior entry (crawl space, unfinished)
• Laundry & utility: Washer; Dryer; Laundry located on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $194k.

Deal economics

• At list price, monthly cash flow is $-305 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (27.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (44.7% below list).
• Recommended offer: $107k (44.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 55/100 on livability (#632 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, crime D-, amenities F.
• West Central School Corporation (rural): math 31% / reading 34% proficiency, ranked #211 of 301 in IN (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 25 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (9.3% local appreciation)).
• Pulaski County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $160k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,186 (44.7% 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 1923 — 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 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.55% ✗
• Cap rate: 4.41%
• Cash-on-cash: -6.74%
• DSCR: 0.70
• GRM: 15.1

CMA / ARV

• ARV (on-the-fly): $68,904
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 S Jefferson St	0.53mi	3/2.0 (+1)	2,333 (-9%)	15mo	$62,000	$27	41
212 N National St	0.64mi	3/1.0 (+1)	2,216 (-13%)	1mo	$25,000	$11	40

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

Projected returns pro-forma

9.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.0%
• Equity multiple: 2.42×
• Total profit: $77,071
• Equity at exit: $165,138

10-year hold

• IRR: 16.8%
• Equity multiple: 5.42×
• Total profit: $239,993
• Equity at exit: $346,350

Cash invested: $54,320 (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 47957

• Home prices YoY: 4.1%
• Active inventory: 12
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $1,072 medium
• Mortgage (P&I): −$1,017
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $-305

Break-even live

Break-even rent $1,458

Max offer price $140,104

Occupancy floor —

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-02
   historical Active Under Contract
2. 2026-04-29
   listed $194,000 Active
3. 2024-06-19
   historical
4. 2021-08-04
   soldstatus $160,000 865-char remark

   Show marketing remark (865 chars)

   Very well kept and recently updated three bedroom, one and a half bath home with a basement just on the outskirts of town. Almost 2,000 sq. ft. of roomy living space that includes a large living room with vaulted ceiling, a great kitchen with plenty of cabinets, a separate laundry room, and converted attic space with a nice loft overlooking the living room. Updates include replacement windows throughout with transferrable warranty, furnace, A/C unit, and water heater. On the outside the vinyl siding, soffit, and facia were all recently replaced. Other exterior amenities include a covered front porch, a relaxing back deck with pergola and quiet latticed room, and a partially privacy fenced yard. There are also large storage outbuildings and a nice carport as well. A full compliment of kitchen and laundry appliances are available with an acceptable offer.

5. 2021-07-02
   listed $134,900 865-char remark

   Show marketing remark (865 chars)

   Very well kept and recently updated three bedroom, one and a half bath home with a basement just on the outskirts of town. Almost 2,000 sq. ft. of roomy living space that includes a large living room with vaulted ceiling, a great kitchen with plenty of cabinets, a separate laundry room, and converted attic space with a nice loft overlooking the living room. Updates include replacement windows throughout with transferrable warranty, furnace, A/C unit, and water heater. On the outside the vinyl siding, soffit, and facia were all recently replaced. Other exterior amenities include a covered front porch, a relaxing back deck with pergola and quiet latticed room, and a partially privacy fenced yard. There are also large storage outbuildings and a nice carport as well. A full compliment of kitchen and laundry appliances are available with an acceptable offer.

6. 2014-09-09
   historical
7. 2010-05-07
   listed $109,900
8. 2010-05-07
   listed $109,900

ⓘ 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: $644 · $54/mo
• Projected year-2 tax: $1,147 · $96/mo
• Expected delta: +$502/yr (+$42/mo · 78.0%)

ⓘ 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 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,862
• − Mortgage interest: −$10,867
• − Property taxes: −$644
• − Insurance: −$970
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$5,644
• Taxable loss: −$7,320
• Est. tax savings @ 24.0%: +$1,757
• After-tax cash flow: $-1,904/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: West Central School Corporation
• NCES district ID: 1809360
• Math proficiency: 31% ▼ -6.00%
• Reading proficiency: 34% ▼ -10.00%
• Median HH income: $48,045
• Composite: 28.08/100
• National rank: #6834
• State rank: #211 of 301 in IN

Livability — Medaryville

• Score: 55/100
• State rank: #632
• US rank: #23559

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,067

Population outlook (Pulaski County) Hauer SSP2

• Today (2025): 11,942 people
• By 2030: 11,394 · -4.6%
• By 2040: 10,274 · -14.0%
• By 2050: 9,209 · -22.9%
• By 2075: 7,182 · -39.9%
• By 2100: 5,365 · -55.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Romanian 4% Iranian 4% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Pulaski

• 2024 margin: Solid R (+53.7) · D 22.2% · R 75.9% · Other 1.9%
• 2008→2024 swing: -38.2pp toward R · 2008: -15.5pp · 2024: -53.7pp
• All cycles: 2024: R+53.7 2020: R+47.9 2016: R+46.5 2012: R+27.2 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.31%
• Current HPI: 238.467
• 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

+76.5% since first listed

8 events — show timeline

• 2026-05-02 Contingent — NIRA MLS as Distributed by MLS Grid
• 2026-04-29 Listed $194,000 NIRA MLS as Distributed by MLS Grid
• 2024-06-19 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2021-08-04 Sold (MLS) $160,000 NIRA MLS as Distributed by MLS Grid
• 2021-07-02 Listed $134,900 NIRA MLS as Distributed by MLS Grid
• 2014-09-09 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2010-05-07 Listed $109,900 NIRA MLS as Distributed by MLS Grid
• 2010-05-07 Listed $109,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+15.1%/yr

Latest (2024): $644 · +21.0% YoY. Source: county tax records.