914 W Main St · Ellettsville, IN 47429

$139,900

2 bd · 1.0 ba · 1,059 sqft · SingleFamily public records · 6 Days on market

Built 1927 0.28 ac lot Est $231k · 39% under

---

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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +4.7/10.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your vision and restore the charm of this classic bungalow located in the heart of Ellettsville. Offering 2 bedrooms, 1 bath, a detached garage, full basement, and a spacious lot, this home is filled with character and opportunity. Inside, you'll find original hardwood floors, built-in shelving, generous living and dining spaces, and a cozy reading nook that showcases the home's vintage appeal. The covered front porch provides the perfect spot to relax and enjoy small-town living. While the property does need TLC and updating, it offers solid potential for investors, renovators, or buyers looking to create a home of their own. Conveniently located near schools, parks, shopping, and di

Key facts

• 0.28 acre lot
• Garage
• Built 1927

Property features AI

Exterior

• Parking: Detached garage with gravel and concrete access; Garage door opener; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Aluminum siding and brick exterior; Shingle roof; Stone foundation; Built as a site-built home
• Exterior features: Covered, enclosed porch; Sidewalks (community)

Interior

• Kitchen: Microwave; Refrigerator; Gas range
• Bedrooms: Bedrooms located on main level
• Flooring: Hardwood; Carpet
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Ceiling fans; Window air conditioning units
• Interior features: Ceiling fans; Eat-in kitchen; Living room fireplace (1)
• Laundry & utility: Washer hookup on main level; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/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 $135k (3.4% below list).
• Recommended offer: $135k (3.4% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 3.3% in Ellettsville — 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 70/100 on livability (#153 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Richland-Bean Blossom Community School Corporation (suburban): math 41% / reading 52% proficiency, ranked #82 of 301 in IN (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edgewood Primary School (650 students, 38% FRL); Edgewood Junior High School (math 30% / reading 51%, grade F, #117 of 330 statewide, top 36%, 603 students, 40% FRL); Edgewood High School (math 42% / reading 77%, grade C+, #49 of 369 statewide, top 16%, 820 students, 33% FRL).
• Market conditions: 64 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 872 units permitted in Monroe County in 2024 (663 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Monroe County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,157 (3.4% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 7.85%
• Cash-on-cash: 5.56%
• DSCR: 1.25
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $230,862
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6473 W Mcneely St	0.30mi	3/1.0 (+1)	1,022 (-4%)	2mo	$265,000	$259	73
220 S Walnut St	0.21mi	2/2.0	1,142 (+8%)	0mo	$222,000	$194	73
903 W Temperance St	0.11mi	2/1.0	974 (-8%)	10mo	$207,500	$213	73
311 N Kelli Dr	0.45mi	3/1.5 (+1)	1,008 (-5%)	2mo	$170,000	$169	62
338 S Poplar Dr	0.38mi	3/1.0 (+1)	950 (-10%)	1mo	$230,000	$242	59
344 Poplar Dr	0.39mi	3/1.0 (+1)	950 (-10%)	3mo	$213,000	$224	57
312 S Poplar Ct	0.31mi	3/1.0 (+1)	925 (-13%)	3mo	$209,900	$227	57
531 N Chandler Dr	0.47mi	3/2.0 (+1)	1,032 (-2%)	11mo	$225,000	$218	56
408 W Association St	0.29mi	2/2.0	1,170 (+10%)	11mo	$165,000	$141	56
392 S Cedar Dr	0.52mi	3/1.0 (+1)	975 (-8%)	3mo	$212,000	$217	56
520 W Hickory Dr	0.71mi	3/1.0 (+1)	975 (-8%)	7mo	$225,000	$231	43
302 E Ritter St	0.67mi	3/1.0 (+1)	988 (-7%)	13mo	$204,900	$207	41

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: -7.7%
• Equity multiple: 0.72×
• Total profit: $-11,129
• Equity at exit: $20,860

10-year hold

• IRR: 1.8%
• Equity multiple: 1.13×
• Total profit: $5,088
• Equity at exit: $12,096

Cash invested: $39,172 (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 47429

• Home prices YoY: -26.8%
• Active inventory: 64
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,352 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$94 /mo · $1,130/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $182

Break-even live

Break-even rent $1,122

Max offer price $139,900

Occupancy floor 82%

Sensitivity live

Price	-10% $261	-5% $221	+0% $182	+5% $142	+10% $102
Rent	-10% $75	-5% $128	+0% $182	+5% $235	+10% $288
Rate	-1.0pp $252	-0.5pp $217	base $182	+0.5pp $145	+1.0pp $109

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 W Depot St Ellettsville, IN	2.0	1.0	1200	$1,450	$1.21	22d	1	0.60mi
7219 W Susan St Unit 7235 Bloomington, IN	2.0	1.5	763	$1,200	$1.57	22d	1	0.76mi

Listing history 7 events

1. 2026-06-19
   days on market $139,900 Active 6 DOM
2. 2026-06-18
   days on market $139,900 Active 5 DOM
3. 2026-06-17
   days on market $139,900 Active 4 DOM
4. 2026-06-16
   days on market $139,900 Active 3 DOM
5. 2026-06-15
   days on market $139,900 Active 2 DOM
6. 2026-06-14
   remarks 699-char remark
7. 2026-06-14
   listed $139,900 Active 1 DOM

ⓘ 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: $1,130 · $94/mo
• Projected year-2 tax: $1,159 · $97/mo
• Expected delta: +$30/yr (+$2/mo · 2.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,219
• − Mortgage interest: −$7,837
• − Property taxes: −$1,130
• − Insurance: −$700
• − Repairs & maintenance: −$1,298
• − Management: −$1,298
• − Depreciation: −$4,070
• Taxable loss: −$112
• Est. tax savings @ 24.0%: +$27
• After-tax cash flow: $2,207/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: Richland-Bean Blossom Community School Corporation
• NCES district ID: 1809480
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 52% ▼ -8.00%
• Median HH income: $53,816
• Composite: 40.21/100
• National rank: #3780
• State rank: #82 of 301 in IN

Livability — Ellettsville

• Score: 70/100
• State rank: #153
• US rank: #7613

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ellettsville, IN
• Population (ZIP): 7,402

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 160,645 people
• By 2030: 170,174 · +5.9%
• By 2040: 188,326 · +17.2%
• By 2050: 206,892 · +28.8%
• By 2075: 256,650 · +59.8%
• By 2100: 303,242 · +88.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -4.7pp toward R · 2008: 32.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+28.2 2016: D+23.7 2012: D+16.5 2008: D+32.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.14%
• Current HPI: 265.2863
• 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

• 2026-06-12 Listed $139,900 IRMLS

Property tax history

+7.7%/yr

Latest (2024): $1,130 · +1.3% YoY. Source: county tax records.