214 E Washington St · Chandler, IN 47610

$25,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 226 Days on market

Built 1900 10,454 sqft lot $33/sqft · 83% below area ↓ 16% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring your vision (and your blueprints)! This 0.24-acre corner lot in Chandler is ready for a fresh start. With utility connections already in place and driveway access, this flat and buildable lot is ideal for a single-family home or income-producing duplex, subject to Town of Chandler approvals. The existing house and shed are both tear-downs, clearing the way for your next project. Whether you're building to sell or hold, this is your blank slate. Builders and investors — this one’s all you. CenterPoint gas and electric and Chandler water and sewer are available.

Key facts

• 0.24 acre lot
• Built 1900
• Listed 226 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $748 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 42.2% vs local median 3.9% in Chandler — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#282 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, amenities F, commute F.
• Warrick County School Corporation (suburban): math 54% / reading 59% proficiency, ranked #24 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 63 active listings in the ZIP; 249 units permitted in Warrick County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Warrick County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 226 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $5k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $25k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 226 days. Have you received any prior offers? Is the seller open to a 12% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 5.00% ✓
• Cap rate: 42.19%
• Cash-on-cash: 128.20%
• DSCR: 6.70
• GRM: 1.7

CMA / ARV

• ARV (median comp): $149,838
• List price: $25,000
• Delta: -83.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 S State St	0.14mi	2/1.0	860 (+12%)	4mo	$192,000	$223	70
208 S Ohio St	0.45mi	2/1.0	768 (0%)	12mo	$157,000	$204	69
539 E Adams Ave	0.33mi	2/1.0	750 (-2%)	18mo	$141,400	$189	66
222 N Illinois St	0.34mi	2/1.0	720 (-6%)	14mo	$149,900	$208	62

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

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.23×
• Total profit: $43,638
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 15.22×
• Total profit: $99,574
• Equity at exit: $2,162

Cash invested: $7,000 (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 47610

• Home prices YoY: -23.6%
• Active inventory: 63
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$99 /mo · $1,188/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $748

Break-even live

Break-even rent $304

Max offer price $25,000

Occupancy floor 35%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $25,000 Active 226 DOM
2. 2026-06-17
   days on market $25,000 Active 225 DOM
3. 2026-06-16
   days on market $25,000 Active 224 DOM
4. 2026-06-15
   days on market $25,000 Active 223 DOM
5. 2026-06-14
   days on market $25,000 Active 221 DOM
6. 2026-06-13
   days on market $25,000 Active 220 DOM
7. 2026-06-10
   days on market $25,000 Active 218 DOM
8. 2026-06-09
   days on market $25,000 Active 217 DOM
9. 2026-06-08
   days on market $25,000 Active 216 DOM
10. 2026-06-07
    days on market $25,000 Active 215 DOM
11. 2026-06-02
    days on market $25,000 Active 210 DOM
12. 2026-06-01
    days on market $25,000 Active 209 DOM
13. 2026-05-31
    days on market $25,000 Active 208 DOM
14. 2026-05-30
    days on market $25,000 Active 207 DOM
15. 2026-04-09
    price $25,000 584-char remark

    Show marketing remark (627 chars)

    Bring your vision (and your blueprints)! This 0.24-acre corner lot in Chandler is ready for a fresh start. All building plans must go through the town of Chandler approval process. See agent notes for that information. With utility connections already in place and driveway access, this flat and buildable lot is ideal for a single-family home or income-producing duplex, subject to city approvals. The existing house and shed are both tear-downs, clearing the way for your next project. Whether you're building to sell or hold, this is your blank slate. CenterPoint gas and electric and Chandler water and sewer are available.

16. 2026-04-09
    price $25,000 627-char remark

    Show marketing remark (627 chars)

    Bring your vision (and your blueprints)! This 0.24-acre corner lot in Chandler is ready for a fresh start. All building plans must go through the town of Chandler approval process. See agent notes for that information. With utility connections already in place and driveway access, this flat and buildable lot is ideal for a single-family home or income-producing duplex, subject to city approvals. The existing house and shed are both tear-downs, clearing the way for your next project. Whether you're building to sell or hold, this is your blank slate. CenterPoint gas and electric and Chandler water and sewer are available.

17. 2025-11-05
    listed $29,900 Active 627-char remark

    Show marketing remark (584 chars)

    Bring your vision (and your blueprints)! This 0.24-acre corner lot in Chandler is ready for a fresh start. With utility connections already in place and driveway access, this flat and buildable lot is ideal for a single-family home or income-producing duplex, subject to Town of Chandler approvals. The existing house and shed are both tear-downs, clearing the way for your next project. Whether you're building to sell or hold, this is your blank slate. Builders and investors — this one’s all you. CenterPoint gas and electric and Chandler water and sewer are available.

18. 2025-11-05
    listed $29,900 Active 584-char remark

    Show marketing remark (584 chars)

    Bring your vision (and your blueprints)! This 0.24-acre corner lot in Chandler is ready for a fresh start. With utility connections already in place and driveway access, this flat and buildable lot is ideal for a single-family home or income-producing duplex, subject to Town of Chandler approvals. The existing house and shed are both tear-downs, clearing the way for your next project. Whether you're building to sell or hold, this is your blank slate. Builders and investors — this one’s all you. CenterPoint gas and electric and Chandler water and sewer are available.

19. 2020-11-20
    soldstatus $12,000
20. 2020-06-10
    listed $29,900

ⓘ 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: $1,188 · $99/mo
• Projected year-2 tax: $1,188 · $99/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 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,013
• − Mortgage interest: −$1,400
• − Property taxes: −$1,188
• − Insurance: −$125
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$727
• Taxable income: $9,170
• Est. tax owed @ 24.0%: −$2,201
• After-tax cash flow: $6,773/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: Warrick County School Corporation
• NCES district ID: 1812390
• Math proficiency: 54% ▼ -8.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $62,801
• Composite: 49.38/100
• National rank: #2014
• State rank: #24 of 301 in IN

Livability — Chandler

• Score: 66/100
• State rank: #282
• US rank: #11582

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chandler, IN
• Population (ZIP): 5,695

Population outlook (Warrick County) Hauer SSP2

• Today (2025): 66,569 people
• By 2030: 68,404 · +2.8%
• By 2040: 71,131 · +6.9%
• By 2050: 72,743 · +9.3%
• By 2075: 76,088 · +14.3%
• By 2100: 72,261 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 5%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Warrick

• 2024 margin: Solid R (+30.2) · D 34.1% · R 64.3% · Other 1.5%
• 2008→2024 swing: -17.4pp toward R · 2008: -12.8pp · 2024: -30.2pp
• All cycles: 2024: R+30.2 2020: R+27.8 2016: R+33.9 2012: R+26.6 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.36%
• Current HPI: 234.6102
• 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

-16.4% since first listed

6 events — show timeline

• 2026-04-09 Price Changed $25,000 IRMLS
• 2026-04-09 Price Changed $25,000 IRMLS
• 2025-11-05 Listed $29,900 IRMLS
• 2025-11-05 Listed $29,900 IRMLS
• 2020-11-20 Sold (MLS) $12,000 IRMLS
• 2020-06-10 Listed $29,900 IRMLS

Property tax history

+1.6%/yr

Latest (2024): $1,188 · +1.6% YoY. Source: county tax records.