2018 North St · Logansport, IN 46947

$124,900

4 bd · 2.0 ba · 3,948 sqft · SingleFamily public records · 241 Days on market

Built 1837 0.47 ac lot $32/sqft · 59% below area

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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 +23.3/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Historic restoration opportunity! This Victorian-era home offers a generous floorplan with a foyer, sitting room, living room, music room, formal dining room, and den on the main level. Upstairs includes 4 bedrooms plus former bath and laundry areas. We have hardwood floors, lots of woodwork, some stained glass windows, tall ceilings, 2 fireplaces, open stairway plus a 2nd stairway in the back. You will find a full walk-out unfinished basement. The roof has been replaced with copper ridge cap. The enclosed side porch and carriage barn on site are both in need of significant repair. No kitchen and no bathroom—home is not currently habitable and requires extensive renovations. Cash or strong renovation financing only. Serious inquiries only. Home selling as is.

Key facts

• Victorian era home
• Woodwork
• Tall ceilings

Tags

• VICTORIAN ERA HOME
• GENEROUS FLOORPLAN
• HARDWOOD FLOORS
• WOODWORK
• STAINED GLASS WINDOWS
• TALL CEILINGS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.4% in Logansport — 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 78/100 on livability (#34 in IN, #2,683 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, amenities A+, cost of living A+; Watch: schools F, commute F, employment D-.
• Logansport Community School Corporation (town): math 26% / reading 32% proficiency, ranked #252 of 301 in IN (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 132 active listings in the ZIP; 22 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cass County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 241 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $71k; list at $125k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1837 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 241 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 1837 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.85%
• DSCR: 1.35
• GRM: 7.7

CMA / ARV

• ARV (median comp): $302,027
• List price: $124,900
• Delta: -58.65%
• 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
2412 North St	0.30mi	4/3.5	4,190 (+6%)	23mo	$299,900	$72	51
2600 Hastye Hyll	0.64mi	3/3.0 (-1)	3,648 (-8%)	20mo	$325,000	$89	32
2410 Hastye Hl	0.72mi	5/4.0 (+1)	3,723 (-6%)	23mo	$390,500	$105	24
2525 Hastye Hyll Hl	0.70mi	5/5.5 (+1)	4,535 (+15%)	10mo	$815,000	$180	15

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: -4.3%
• Equity multiple: 0.84×
• Total profit: $-5,662
• Equity at exit: $18,623

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $13,867
• Equity at exit: $10,799

Cash invested: $34,972 (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 46947

• Home prices YoY: -28.9%
• Active inventory: 132
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,359 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$138 /mo · $1,652/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $229

Break-even live

Break-even rent $1,069

Max offer price $124,900

Occupancy floor 78%

Sensitivity live

Price	-10% $299	-5% $264	+0% $229	+5% $193	+10% $158
Rent	-10% $121	-5% $175	+0% $229	+5% $282	+10% $336
Rate	-1.0pp $292	-0.5pp $261	base $229	+0.5pp $196	+1.0pp $163

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $124,900 Active 241 DOM
2. 2026-06-21
   days on market $124,900 Active 240 DOM
3. 2026-06-18
   days on market $124,900 Active 238 DOM
4. 2026-06-17
   days on market $124,900 Active 237 DOM
5. 2026-06-16
   days on market $124,900 Active 236 DOM
6. 2026-06-15
   days on market $124,900 Active 235 DOM
7. 2026-06-13
   days on market $124,900 Active 233 DOM
8. 2026-06-12
   days on market $124,900 Active 232 DOM
9. 2026-06-09
   days on market $124,900 Active 229 DOM
10. 2026-06-08
    days on market $124,900 Active 228 DOM
11. 2026-06-07
    days on market $124,900 Active 227 DOM
12. 2026-06-07
    days on market $124,900 Active 226 DOM
13. 2026-06-04
    days on market $124,900 Active 223 DOM
14. 2026-06-02
    days on market $124,900 Active 222 DOM
15. 2026-06-01
    days on market $124,900 Active 221 DOM
16. 2026-05-31
    days on market $124,900 Active 220 DOM
17. 2026-05-31
    days on market $124,900 Active 219 DOM
18. 2026-05-07
    status Active 775-char remark

    Show marketing remark (775 chars)

    Historic restoration opportunity! This Victorian-era home offers a generous floorplan with a foyer, sitting room, living room, music room, formal dining room, and den on the main level. Upstairs includes 4 bedrooms plus former bath and laundry areas. We have hardwood floors, lots of woodwork, some stained glass windows, tall ceilings, 2 fireplaces, open stairway plus a 2nd stairway in the back. You will find a full walk-out unfinished basement. The roof has been replaced with copper ridge cap. The enclosed side porch and carriage barn on site are both in need of significant repair. No kitchen and no bathroom—home is not currently habitable and requires extensive renovations. Cash or strong renovation financing only. Serious inquiries only. Home selling as is.

19. 2026-05-07
    historical 775-char remark

    Show marketing remark (775 chars)

    Historic restoration opportunity! This Victorian-era home offers a generous floorplan with a foyer, sitting room, living room, music room, formal dining room, and den on the main level. Upstairs includes 4 bedrooms plus former bath and laundry areas. We have hardwood floors, lots of woodwork, some stained glass windows, tall ceilings, 2 fireplaces, open stairway plus a 2nd stairway in the back. You will find a full walk-out unfinished basement. The roof has been replaced with copper ridge cap. The enclosed side porch and carriage barn on site are both in need of significant repair. No kitchen and no bathroom—home is not currently habitable and requires extensive renovations. Cash or strong renovation financing only. Serious inquiries only. Home selling as is.

20. 2026-04-23
    status Active 775-char remark

    Show marketing remark (775 chars)

    Historic restoration opportunity! This Victorian-era home offers a generous floorplan with a foyer, sitting room, living room, music room, formal dining room, and den on the main level. Upstairs includes 4 bedrooms plus former bath and laundry areas. We have hardwood floors, lots of woodwork, some stained glass windows, tall ceilings, 2 fireplaces, open stairway plus a 2nd stairway in the back. You will find a full walk-out unfinished basement. The roof has been replaced with copper ridge cap. The enclosed side porch and carriage barn on site are both in need of significant repair. No kitchen and no bathroom—home is not currently habitable and requires extensive renovations. Cash or strong renovation financing only. Serious inquiries only. Home selling as is.

21. 2026-04-23
    price $124,900 775-char remark

    Show marketing remark (775 chars)

    Historic restoration opportunity! This Victorian-era home offers a generous floorplan with a foyer, sitting room, living room, music room, formal dining room, and den on the main level. Upstairs includes 4 bedrooms plus former bath and laundry areas. We have hardwood floors, lots of woodwork, some stained glass windows, tall ceilings, 2 fireplaces, open stairway plus a 2nd stairway in the back. You will find a full walk-out unfinished basement. The roof has been replaced with copper ridge cap. The enclosed side porch and carriage barn on site are both in need of significant repair. No kitchen and no bathroom—home is not currently habitable and requires extensive renovations. Cash or strong renovation financing only. Serious inquiries only. Home selling as is.

22. 2025-10-22
    listed $149,900 Active 775-char remark

    Show marketing remark (775 chars)

    Historic restoration opportunity! This Victorian-era home offers a generous floorplan with a foyer, sitting room, living room, music room, formal dining room, and den on the main level. Upstairs includes 4 bedrooms plus former bath and laundry areas. We have hardwood floors, lots of woodwork, some stained glass windows, tall ceilings, 2 fireplaces, open stairway plus a 2nd stairway in the back. You will find a full walk-out unfinished basement. The roof has been replaced with copper ridge cap. The enclosed side porch and carriage barn on site are both in need of significant repair. No kitchen and no bathroom—home is not currently habitable and requires extensive renovations. Cash or strong renovation financing only. Serious inquiries only. Home selling as is.

23. 2018-04-25
    soldstatus $71,000
24. 2018-04-25
    listed $73,900
25. 2015-04-08
    listed $73,900

ⓘ 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: $1,652 · $138/mo
• Projected year-2 tax: $1,652 · $138/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 17 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: $16,305
• − Mortgage interest: −$6,996
• − Property taxes: −$1,652
• − Insurance: −$624
• − Repairs & maintenance: −$1,304
• − Management: −$1,304
• − Depreciation: −$3,633
• Taxable income: $790
• Est. tax owed @ 24.0%: −$190
• After-tax cash flow: $2,555/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: Logansport Community School Corporation
• NCES district ID: 1806030
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $37,767
• Composite: 24.19/100
• National rank: #7733
• State rank: #252 of 301 in IN

Livability — Logansport

• Score: 78/100
• State rank: #34
• US rank: #2683

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Logansport, IN
• City population: 28,830
• Population (ZIP): 28,830

Population outlook (Cass County) Hauer SSP2

• Today (2025): 36,480 people
• By 2030: 35,390 · -3.0%
• By 2040: 33,077 · -9.3%
• By 2050: 30,631 · -16.0%
• By 2075: 25,426 · -30.3%
• By 2100: 20,617 · -43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 8% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 80% English-only · Spanish 17% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+46.2) · D 26.2% · R 72.4% · Other 1.4%
• 2008→2024 swing: -37.7pp toward R · 2008: -8.5pp · 2024: -46.2pp
• All cycles: 2024: R+46.2 2020: R+41.1 2016: R+42.0 2012: R+21.7 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.21%
• Current HPI: 223.8394
• 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

+69.0% since first listed

8 events — show timeline

• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-23 Relisted — IRMLS
• 2026-04-23 Price Changed $124,900 IRMLS
• 2025-10-22 Listed $149,900 IRMLS
• 2018-04-25 Listed $73,900 IRMLS
• 2018-04-25 Sold (MLS) $71,000 IRMLS
• 2015-04-08 Listed $73,900 IRMLS

Property tax history

-5.4%/yr

Latest (2024): $1,652 · +0.9% YoY. Source: county tax records.