138 N 11th St · Clinton, IN 47842

$18,500

2 bd · 1.0 ba · 1,043 sqft · SingleFamily public records · 2 Days on market

Built 1912 10,424 sqft lot ↓ 58% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.0/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This cottage style home needs some TLC. This 2-bed 1-bath home has good size living room and dining area. Nice covered front porch as well a side deck for your grilling pleasure that leads to the 1-car detach garage for extra storage.

Key facts

• 0.24 acre lot
• Garage
• Built 1912

Property features AI

Exterior

• Parking: Detached paved garage (1 car)
• Utilities: Public sewer
• Home design: Single family residence; One story
• Construction: Aluminum siding with frame construction
• Exterior features: Covered deck; Shingle roof

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Partial unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $18k.

Deal economics

• At list price, monthly cash flow is $605 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($957 rent vs $18k).

Location & tenants

• Location reads 62/100 on livability (#474 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• South Vermillion Community School Corporation (rural): math 31% / reading 42% proficiency, ranked #182 of 301 in IN (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Elementary School (math 27% / reading 37%, grade F, #652 of 994 statewide, top 68%, 302 students, 64% FRL); South Vermillion High School (math 27% / reading 62%, grade F, #169 of 369 statewide, top 51%, 478 students, 54% FRL).
• Market conditions: 46 active listings in the ZIP; 28 units permitted in Vermillion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $495 of equity ($128 loan paydown + $367 appreciation (2.0% local appreciation)).
• Vermillion County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $18,500

Questions for the listing agent

1. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.17% ✓
• Cap rate: 45.55%
• Cash-on-cash: 140.20%
• DSCR: 7.24
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $123,074
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
702 S 5th St	0.70mi	2/1.0	1,028 (-1%)	4mo	$118,000	$115	62
925 Walnut St	0.36mi	2/1.0	1,092 (+5%)	18mo	$23,000	$21	60
433 S 8th St	0.39mi	2/2.0	1,002 (-4%)	13mo	$137,500	$137	60
821 N 8th St	0.57mi	2/1.0	968 (-7%)	3mo	$118,000	$122	59
945 Morey St	0.50mi	2/2.0	968 (-7%)	5mo	$155,000	$160	56
359 N 3rd St	0.66mi	3/1.0 (+1)	1,132 (+8%)	5mo	$38,000	$34	46
1059 N 10th Street St	0.69mi	2/2.0	1,196 (+15%)	1mo	$141,500	$118	38

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

Projected returns pro-forma

1.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.69×
• Total profit: $39,828
• Equity at exit: $7,282

10-year hold

• IRR: —
• Equity multiple: 18.19×
• Total profit: $89,070
• Equity at exit: $10,474

Cash invested: $5,180 (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 47842

• Home prices YoY: 1.0%
• Active inventory: 46
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $957 medium
• Mortgage (P&I): −$97
• Tax from tax record: −$46 /mo · $550/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $605

Break-even live

Break-even rent $191

Max offer price $18,500

Occupancy floor 32%

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: $4,625
• Closing costs: $555
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-18
   days on market $18,500 Active 2 DOM
2. 2026-06-17
   listing id $18,500 Active 1 DOM
3. 2026-06-16
   remarks 234-char remark
4. 2026-06-16
   listed $18,500 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: $550 · $46/mo
• Projected year-2 tax: $550 · $46/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,480
• − Mortgage interest: −$1,036
• − Property taxes: −$550
• − Insurance: −$92
• − Repairs & maintenance: −$918
• − Management: −$918
• − Depreciation: −$538
• Taxable income: $7,426
• Est. tax owed @ 24.0%: −$1,782
• After-tax cash flow: $5,480/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 Vermillion Community School Corporation
• NCES district ID: 1810590
• Math proficiency: 31% ▼ -6.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $42,809
• Composite: 30.87/100
• National rank: #6123
• State rank: #182 of 301 in IN

Livability — Clinton

• Score: 62/100
• State rank: #474
• US rank: #16763

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clinton, IN
• Population (ZIP): 9,675

Population outlook (Vermillion County) Hauer SSP2

• Today (2025): 14,605 people
• By 2030: 13,942 · -4.5%
• By 2040: 12,592 · -13.8%
• By 2050: 11,381 · -22.1%
• By 2075: 9,063 · -37.9%
• By 2100: 7,098 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Italian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 0%

Political lean MEDSL · Vermillion

• 2024 margin: Solid R (+44.7) · D 26.6% · R 71.3% · Other 2.1%
• 2008→2024 swing: -58.7pp toward R · 2008: 13.9pp · 2024: -44.7pp
• All cycles: 2024: R+44.7 2020: R+40.6 2016: R+35.1 2012: R+6.8 2008: D+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.98%
• Current HPI: 201.465
• 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

-58.0% since first listed

5 events — show timeline

• 2026-06-15 Listed $18,500 THAAR
• 2024-11-12 Pending — THAAR
• 2024-10-21 Listed $24,900 THAAR
• 2022-07-05 Price Changed $39,900 THAAR
• 2022-06-20 Listed $44,000 THAAR

Property tax history

+6.5%/yr

Latest (2024): $550 · +1.8% YoY. Source: county tax records.