512 Main Cross St · Vevay, IN 47043

$179,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 17 Days on market

Built 1976 0.58 ac lot

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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 +15.5/30.0
• Appreciation +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 1% rule +3.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Well kept home, privacy fence just installed, new metal roof, 3 Br, 1 Ba. open kitchen/LR, small storage building, small tool closet ready to move in

Key facts

• 0.58 acre lot
• Built 1976
• Listed 17 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single family residence; One story; Entry level: One
• Construction: Vinyl siding; Metal roof
• Exterior features: Wood fencing

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $73 ($876/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 $151k (15.7% below list).
• Recommended offer: $151k (15.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#555 in IN) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Switzerland County School Corporation (rural): math 25% / reading 31% proficiency, ranked #254 of 301 in IN (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jefferson-Craig Elementary School (math 30% / reading 31%, grade F, #688 of 994 statewide, top 70%, 412 students, 58% FRL).
• Market conditions: 35 active listings in the ZIP; 80 units permitted in Switzerland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (8.2% local appreciation)).
• Switzerland County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.2% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $62k; list at $179k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,841 (15.7% below list)

Questions for the listing agent

1. Built in 1976 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 0.84% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $104,640
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 Vineyard St	0.20mi	2/1.0 (-1)	959 (-0%)	10mo	$105,000	$109	77
310 N Pearl St	0.42mi	3/1.0	1,092 (+14%)	15mo	$110,000	$101	45
312 Ohio St	0.47mi	3/1.0	1,051 (+10%)	22mo	$125,000	$119	44

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

Projected returns pro-forma

8.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 2.60×
• Total profit: $80,023
• Equity at exit: $137,782

10-year hold

• IRR: 19.8%
• Equity multiple: 5.56×
• Total profit: $228,695
• Equity at exit: $275,221

Cash invested: $50,120 (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 47043

• Home prices YoY: 4.0%
• Active inventory: 35
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,508 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$105 /mo · $1,264/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $73

Break-even live

Break-even rent $1,416

Max offer price $179,000

Occupancy floor 90%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $179,000 Active 17 DOM
2. 2026-06-17
   days on market $179,000 Active 16 DOM
3. 2026-06-16
   days on market $179,000 Active 15 DOM
4. 2026-06-15
   days on market $179,000 Active 14 DOM
5. 2026-06-13
   days on market $179,000 Active 12 DOM
6. 2026-06-12
   days on market $179,000 Active 11 DOM
7. 2026-06-09
   days on market $179,000 Active 8 DOM
8. 2026-06-08
   days on market $179,000 Active 7 DOM
9. 2026-06-07
   days on market $179,000 Active 6 DOM
10. 2026-06-07
    days on market $179,000 Active 5 DOM
11. 2026-06-04
    days on market $179,000 Active 2 DOM
12. 2026-06-01
    listed $179,000 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: $1,264 · $105/mo
• Projected year-2 tax: $1,393 · $116/mo
• Expected delta: +$129/yr (+$11/mo · 10.2%)

ⓘ 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 ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,101
• − Mortgage interest: −$10,027
• − Property taxes: −$1,264
• − Insurance: −$895
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − Depreciation: −$5,207
• Taxable loss: −$2,188
• Est. tax savings @ 24.0%: +$525
• After-tax cash flow: $1,402/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: Switzerland County School Corporation
• NCES district ID: 1811220
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $44,127
• Composite: 23.96/100
• National rank: #7780
• State rank: #254 of 301 in IN

Livability — Vevay

• Score: 59/100
• State rank: #555
• US rank: #19928

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vevay, IN
• Population (ZIP): 4,851

Population outlook (Switzerland County) Hauer SSP2

• Today (2025): 10,189 people
• By 2030: 9,909 · -2.7%
• By 2040: 9,347 · -8.3%
• By 2050: 8,721 · -14.4%
• By 2075: 7,542 · -26.0%
• By 2100: 6,601 · -35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 4% Spanish 0%

Political lean MEDSL · Switzerland

• 2024 margin: Solid R (+57.5) · D 20.5% · R 78.0% · Other 1.5%
• 2008→2024 swing: -49.2pp toward R · 2008: -8.3pp · 2024: -57.5pp
• All cycles: 2024: R+57.5 2020: R+52.2 2016: R+44.7 2012: R+12.8 2008: R+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.15%
• Current HPI: 212.0481
• 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

+258.0% since first listed

5 events — show timeline

• 2026-06-01 Listed $179,000 SEIBR
• 2020-08-12 Sold (Public Records) $62,500 Public Records
• 2020-07-30 Sold (MLS) $62,500 SEIBR
• 2020-06-01 Listed $65,500 SEIBR
• 2012-09-10 Sold (Public Records) $50,000 Public Records

Property tax history

+16.1%/yr

Latest (2024): $1,264 · -0.2% YoY. Source: county tax records.