202 N Vine St · Waynetown, IN 47990

$167,400

4 bd · 1.5 ba · 1,928 sqft · SingleFamily public records · 46 Days on market

Built 1900 0.71 ac lot Est $183k · 9% 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 +16.5/30.0
• ARV discount +11.4/15.0
• Appreciation +6.4/10.0
• DSCR +5.1/10.0
• Schools +4.3/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover a unique opportunity at 202 N Vine ST in WAYNETOWN, IN. Four well-proportioned bedrooms, there is flexibility for family, guests, or dedicated home office spaces. This home is situated on an impressive . 70-acre corner lot. 30x38 pole barn. Home has large family room, living area ideal for family living. New furnace was recently installed as a great benefit to the buyer!

Key facts

• 30x38 pole barn
• 0.71 acre lot
• Built 1900

Tags

• IMPRESSIVE CORNER LOT
• 30X38 POLE BARN

Property features AI

Finance

• Other: Approximately 0.71-acre lot (corner lot, city lot with access)
• HOA & community: No community features listed

Exterior

• Utilities: Electricity connected; Natural gas available; Water connected (private water source); Sewer connected (community sewer)
• Home design: Single-family residence; Attached property; Two levels
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered porch/patio; Barn pole

Interior

• Kitchen: Gas oven
• Bedrooms: Primary bedroom with walk-in closet; Four bedrooms total (one on main level, three on upper level)
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms total; Primary suite with full shower stall
• Heating & cooling: Radiant heating; No central air
• Interior features: Hardwood floors; Unfinished basement; One fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $167k.

Deal economics

• At list price, monthly cash flow is $99 ($1k/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 $142k (14.9% below list).
• Recommended offer: $142k (14.9% below list) — sets the bar for 1% rule.

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; 1 comparable units currently listed for rent nearby; 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k 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 $47k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, 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 46 days — a 3% lower offer ($162k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $142,500 (14.9% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 15% 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. 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. 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.
6. 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.
7. 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: 0.85% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.53%
• DSCR: 1.11
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $183,160
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 E Washington St	0.23mi	3/1.0 (-1)	1,848 (-4%)	2mo	$150,000	$81	73
305 N Market St	0.10mi	3/1.5 (-1)	2,094 (+9%)	3mo	$199,900	$95	73
119 W Washington St	0.19mi	4/2.0	1,850 (-4%)	16mo	$135,000	$73	69
207 S Vernon St	0.40mi	3/1.5 (-1)	2,060 (+7%)	8mo	$150,000	$73	59
100 W Walnut St	0.24mi	4/2.5	2,206 (+14%)	8mo	$311,000	$141	54
3908 N 830 W	0.50mi	4/3.0	1,976 (+2%)	17mo	$249,900	$126	53

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: 9.2%
• Equity multiple: 1.52×
• Total profit: $24,309
• Equity at exit: $73,047

10-year hold

• IRR: 11.8%
• Equity multiple: 2.71×
• Total profit: $80,288
• Equity at exit: $110,875

Cash invested: $46,872 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,425 medium
• Mortgage (P&I): −$878
• Tax from tax record: −$79 /mo · $952/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $99

Break-even live

Break-even rent $1,300

Max offer price $167,400

Occupancy floor 88%

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: $41,850
• Closing costs: $5,022
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 N Vine St Waynetown, IN	3.0	1.0	1777	$1,425	$0.80	13d	1	0.08mi

Listing history 18 events

1. 2026-06-19
   days on market $167,400 Active 46 DOM
2. 2026-06-18
   days on market $167,400 Active 45 DOM
3. 2026-06-17
   days on market $167,400 Active 44 DOM
4. 2026-06-16
   days on market $167,400 Active 43 DOM
5. 2026-06-15
   days on market $167,400 Active 42 DOM
6. 2026-06-14
   days on market $167,400 Active 40 DOM
7. 2026-06-13
   remarks 382-char remark
8. 2026-06-13
   days on market $167,400 Active 39 DOM
9. 2026-06-10
   days on market $167,400 Active 37 DOM
10. 2026-06-09
    days on market $167,400 Active 36 DOM
11. 2026-06-08
    days on market $167,400 Active 35 DOM
12. 2026-06-07
    pricedays on market $167,400 Active 34 DOM
13. 2026-06-05
    days on market $169,900 Active 31 DOM
14. 2026-06-02
    days on market $169,900 Active 29 DOM
15. 2026-06-01
    days on market $169,900 Active 28 DOM
16. 2026-05-31
    days on market $169,900 Active 27 DOM
17. 2026-05-30
    days on market $169,900 Active 26 DOM
18. 2026-05-04
    listed $169,900 Active

ⓘ 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: $952 · $79/mo
• Projected year-2 tax: $1,188 · $99/mo
• Expected delta: +$235/yr (+$20/mo · 24.7%)

ⓘ 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: $17,100
• − Mortgage interest: −$9,377
• − Property taxes: −$952
• − Insurance: −$837
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$4,870
• Taxable loss: −$1,672
• Est. tax savings @ 24.0%: +$401
• After-tax cash flow: $1,587/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

1 event — show timeline

• 2026-05-04 Listed $169,900 MIBOR as Distributed by MLS Grid

Property tax history

+8.8%/yr

Latest (2025): $952 · +6.6% YoY. Source: county tax records.