617 S Main St · Owensville, IN 47665

$90,500

3 bd · 1.0 ba · 1,728 sqft · SingleFamily public records · 17 Days on market

Built 1900 0.32 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home has great bones! Nice big wonderful lot. Spacious Room on a nice dead end road. Near the heart of Owensville.

Key facts

• Big lot
• Dead end road
• 0.32 acre lot

Tags

• BIG LOT
• DEAD END ROAD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#440 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• South Gibson School Corporation (rural): math 50% / reading 58% proficiency, ranked #31 of 301 in IN (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Owensville Community School (math 43% / reading 51%, grade D-, #325 of 994 statewide, top 36%, 415 students, 41% FRL); Gibson Southern High School (math 62% / reading 77%, grade B, #18 of 369 statewide, top 5%, 726 students, 23% FRL).
• Market conditions: 17 active listings in the ZIP; 167 units permitted in Gibson County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $626 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Gibson County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $38k; list at $90k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,142 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 1.37% ✓
• Cap rate: 11.89%
• Cash-on-cash: 19.99%
• DSCR: 1.89
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $207,360
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
617 S Main St	0.00mi	4/1.0 (+1)	1,728 (0%)	0mo	$93,000	$54	95
601 E Clark St	0.60mi	3/1.0	1,650 (-4%)	21mo	$164,900	$100	47
103 S Smith St	0.54mi	3/2.0	1,980 (+15%)	3mo	$237,000	$120	44
404 E Clark St	0.57mi	3/2.5	1,555 (-10%)	13mo	$315,000	$203	40
208 N First St	0.59mi	4/3.0 (+1)	1,804 (+4%)	19mo	$62,500	$35	36
304 E Maple St	0.68mi	3/1.5	1,551 (-10%)	23mo	$191,900	$124	30
202 E Rock Rd	0.70mi	3/2.0	1,980 (+15%)	14mo	$290,000	$146	28

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: 12.1%
• Equity multiple: 1.48×
• Total profit: $12,202
• Equity at exit: $13,494

10-year hold

• IRR: 21.1%
• Equity multiple: 2.78×
• Total profit: $45,156
• Equity at exit: $7,825

Cash invested: $25,340 (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 47665

• Home prices YoY: -4.6%
• Active inventory: 17
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,240 medium
• Mortgage (P&I): −$475
• Tax from tax record: −$45 /mo · $541/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $422

Break-even live

Break-even rent $706

Max offer price $90,500

Occupancy floor 61%

Sensitivity live

Price	-10% $473	-5% $448	+0% $422	+5% $397	+10% $371
Rent	-10% $324	-5% $373	+0% $422	+5% $471	+10% $520
Rate	-1.0pp $468	-0.5pp $445	base $422	+0.5pp $399	+1.0pp $375

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: $22,625
• Closing costs: $2,715
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-03-13
   status Pending
2. 2026-02-24
   listed $90,500 Active
3. 2010-08-11
   soldstatus $38,000

ⓘ 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: $541 · $45/mo
• Projected year-2 tax: $655 · $55/mo
• Expected delta: +$114/yr (+$9/mo · 21.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $14,880
• − Mortgage interest: −$5,069
• − Property taxes: −$541
• − Insurance: −$452
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$2,633
• Taxable income: $3,803
• Est. tax owed @ 24.0%: −$913
• After-tax cash flow: $4,154/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: South Gibson School Corporation
• NCES district ID: 1810350
• Math proficiency: 50% ▼ -7.00%
• Reading proficiency: 58% ▼ -2.00%
• Median HH income: $60,560
• Composite: 47.09/100
• National rank: #2334
• State rank: #31 of 301 in IN

Livability — Owensville

• Score: 63/100
• State rank: #440
• US rank: #15744

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Owensville, IN
• Population (ZIP): 4,053

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 33,671 people
• By 2030: 33,409 · -0.8%
• By 2040: 32,364 · -3.9%
• By 2050: 30,453 · -9.6%
• By 2075: 24,610 · -26.9%
• By 2100: 16,217 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5%
• Common ancestry: Slovak 2% Romanian 2% Portuguese 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+51.4) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -38.2pp toward R · 2008: -13.2pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.2 2016: R+47.6 2012: R+31.0 2008: R+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.27%
• Current HPI: 212.1149
• 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

+138.2% since first listed

3 events — show timeline

• 2026-03-13 Pending — IRMLS
• 2026-02-24 Listed $90,500 IRMLS
• 2010-08-11 Sold (Public Records) $38,000 Public Records

Property tax history

+3.8%/yr

Latest (2024): $541 · +5.3% YoY. Source: county tax records.