425 E Sylvester St · Montezuma, IN 47862

$109,900

3 bd · 1.0 ba · 1,247 sqft · SingleFamily public records · 30 Days on market

Built 1941 6,534 sqft lot Est $110k · at est.

---

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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.4/15.0
• 1% rule +5.6/10.0
• Appreciation +5.5/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Back on the market, no fault to the seller! Charming 3-bedroom, 1-bath home that perfectly balances comfort and functionality. The spacious kitchen with a combined dining area is ideal for cooking and entertaining, with plenty of room for family gatherings. Recent updates include a remodeled bathroom. A convenient laundry room makes everyday chores simple, and storage is abundant throughout the home. Step outside to a generous backyard with a deck perfect for relaxing or enjoying time with family and friends. This well maintained home is waiting for you to make it your own!

Key facts

• Combined dining area
• Remodeled bathroom
• Spacious kitchen

Tags

• SPACIOUS KITCHEN
• COMBINED DINING AREA
• REMODELED BATHROOM
• CONVENIENT LAUNDRY ROOM
• GENEROUS BACKYARD
• DECK

Property features AI

Exterior

• Parking: Concrete parking
• Security: Smoke detector(s)
• Utilities: Public sewer
• Home design: Single-family residence; 1 story
• Construction: Vinyl siding
• Exterior features: Covered deck; Metal roof

Interior

• Kitchen: Gas oven; Gas range; Microwave; Refrigerator
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Insulated windows; Crawl space basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#314 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, crime D+, amenities F.
• Southwest Parke Community School Corporation (rural): math 34% / reading 36% proficiency, ranked #195 of 301 in IN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Montezuma Elementary School (math 47% / reading 37%, grade F, #434 of 994 statewide, top 48%, 232 students, 66% FRL); Riverton Parke Jr-Sr High School (math 23% / reading 39%, grade F, #303 of 369 statewide, top 82%, 472 students, 53% FRL).
• Market conditions: 10 active listings in the ZIP; 61 units permitted in Parke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($760 loan paydown + $1k appreciation (1.1% local appreciation)).
• Parke County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,251 (1.5% below list)

Questions for the listing agent

1. Built in 1941 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.33%
• DSCR: 1.46
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $109,736
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
425 E Sylvester St	0.00mi	3/1.0	1,247 (0%)	1mo	$109,900	$88	99
538 Madison St	0.48mi	2/1.0 (-1)	1,066 (-14%)	14mo	$20,500	$19	37

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

Projected returns pro-forma

1.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 1.63×
• Total profit: $19,386
• Equity at exit: $38,053

10-year hold

• IRR: 15.9%
• Equity multiple: 2.94×
• Total profit: $59,674
• Equity at exit: $50,986

Cash invested: $30,772 (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 47862

• Home prices YoY: 0.5%
• Active inventory: 10
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,160 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$29 /mo · $351/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $265

Break-even live

Break-even rent $825

Max offer price $109,900

Occupancy floor 72%

Sensitivity live

Price	-10% $327	-5% $296	+0% $265	+5% $234	+10% $203
Rent	-10% $173	-5% $219	+0% $265	+5% $311	+10% $357
Rate	-1.0pp $320	-0.5pp $293	base $265	+0.5pp $237	+1.0pp $208

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-13
   status Pending
2. 2026-04-08
   status Active
3. 2026-04-06
   status Pending
4. 2026-03-12
   listed $109,900 Active

ⓘ 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: $351 · $29/mo
• Projected year-2 tax: $643 · $54/mo
• Expected delta: +$292/yr (+$24/mo · 83.1%)

ⓘ 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 4/10 Moderate 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,919
• − Mortgage interest: −$6,156
• − Property taxes: −$351
• − Insurance: −$550
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − Depreciation: −$3,197
• Taxable income: $1,439
• Est. tax owed @ 24.0%: −$345
• After-tax cash flow: $2,835/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: Southwest Parke Community School Corporation
• NCES district ID: 1810900
• Math proficiency: 34% ▼ -4.00%
• Reading proficiency: 36% ▼ -6.00%
• Median HH income: $42,288
• Composite: 29.61/100
• National rank: #6474
• State rank: #195 of 301 in IN

Livability — Montezuma

• Score: 65/100
• State rank: #314
• US rank: #12442

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montezuma, IN
• Population (ZIP): 1,262

Population outlook (Parke County) Hauer SSP2

• Today (2025): 15,937 people
• By 2030: 15,467 · -2.9%
• By 2040: 14,793 · -7.2%
• By 2050: 14,318 · -10.2%
• By 2075: 13,484 · -15.4%
• By 2100: 12,236 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 10% Hispanic / Latino 10% Black 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Iranian 2% Slovak 2% Romanian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Parke

• 2024 margin: Solid R (+56.9) · D 20.6% · R 77.5% · Other 1.9%
• 2008→2024 swing: -42.8pp toward R · 2008: -14.1pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+55.5 2016: R+52.0 2012: R+32.6 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.09%
• Current HPI: 212.829
• 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

4 events — show timeline

• 2026-04-13 Pending — THAAR
• 2026-04-08 Relisted — THAAR
• 2026-04-06 Pending — THAAR
• 2026-03-12 Listed $109,900 THAAR

Property tax history

+0.8%/yr

Latest (2024): $351 · -7.4% YoY. Source: county tax records.