1007 Hunter Ct

Memphis, IN 47143

$298,150D-

4 bd · 2.5 ba · 2,053 sqft · Built 2026 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,420/mo
• Mortgage (P&I): −$1,564
• Tax + insurance: −$497
• HOA: −$0
• Vac / Maint / Mgmt: −$508
• Net cashflow: $-149/mo
• Annual: $-1,787/yr
• Cap rate: 5.69%
• Cash-on-cash: -2.14%
• DSCR: 0.90
• 1% rule: 0.81%
• Cash to close: $83,482

Investor read

• This is a 4-bed/2.5-bath single-family listed at $298k.
• At list price, monthly cash flow is $-149 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (18.8% below list).
• It's been on market 35 days — a 3% lower offer ($289k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $242k (18.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#164 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Market conditions: 94 active listings in the ZIP; 911 units permitted in Clark County in 2024 (133 in 5+ unit buildings).
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• 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?
• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.