431 Randolph St · Richmond, IN 47374

$61,749

3 bd · 1.5 ba · 1,462 sqft · SingleFamily public records · 46 Days on market

Built 1900 7,187 sqft lot Est $115k · 47% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER FINANCING AVAILABLE! Welcome to this spacious 3-bedroom, 1.5-bathroom home located in the heart of Richmond's desirable school district. This property is perfect for both investors and homeowners alike, offering large rooms that provide ample space for comfortable living. Situated in a great school district and close to shopping, groceries, and other amenities, this home makes daily errands a breeze. It is a fantastic rental investment opportunity, promising great returns. The home also features a separate laundry room for added convenience and a 24x24 garage that provides ample storage and parking space. Whether you're looking to invest or find a new place to call home, 431 Randolph Street has everything you need. Don't miss out on this incredible opportunity. For more information or to schedule a viewing, contact: Brian Ingle @ FC Tucker Richmond 765-960-0533 Brian. [email protected]

Key facts

• Ample space
• Ample storage
• 7,187 sq ft lot

Tags

• SEPARATE LAUNDRY ROOM
• AMPLE STORAGE
• AMPLE SPACE

Property features AI

Finance

• Other: Lot approximately 0.17 acre (< 1/4 acre)

Exterior

• Parking: Detached 2-car garage
• Security: Smoke detector(s)
• Utilities: Public water service; Municipal sewer connection; Solid waste service
• Home design: Single-family residence; Two stories; Public water
• Construction: Vinyl siding; Block foundation
• Exterior features: Front yard fencing

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Three bedrooms on the upper level
• Bathrooms: Two full bathrooms (one on upper level, one in basement)
• Heating & cooling: Forced air heating; No central air
• Interior features: Eat-in kitchen; Basement present; Smoke detectors
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $60k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 5.2% in Richmond — 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 83/100 on livability (#10 in IN, #869 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, schools D-, employment D-.
• Richmond Community Schools (town): math 18% / reading 27% proficiency, ranked #270 of 301 in IN (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 273 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 38 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $427 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wayne County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($60k) 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,896 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.82% ✓
• Cap rate: 15.28%
• Cash-on-cash: 32.11%
• DSCR: 2.43
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $115,498
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
431 Lincoln St	0.07mi	3/1.0	1,608 (+10%)	2mo	$146,500	$91	76
620 SW A St	0.38mi	3/1.5	1,456 (-0%)	8mo	$119,000	$82	75
319 Kinsey St	0.23mi	3/2.0	1,584 (+8%)	3mo	$60,000	$38	71
624 Peacock Rd	0.16mi	3/1.0	1,334 (-9%)	7mo	$135,000	$101	70
239 NW I St	0.50mi	2/1.0 (-1)	1,416 (-3%)	1mo	$112,000	$79	64
706 Indiana Ave	0.54mi	2/1.0 (-1)	1,536 (+5%)	1mo	$109,900	$72	58
116 SW 7th St	0.45mi	3/2.0	1,624 (+11%)	5mo	$138,000	$85	55
2 Cedar Ct	0.64mi	3/2.0	1,568 (+7%)	2mo	$42,000	$27	54
1034 Boyer St	0.64mi	2/1.5 (-1)	1,404 (-4%)	8mo	$37,600	$27	52
105 SW 10th St	0.57mi	3/1.0	1,270 (-13%)	1mo	$157,500	$124	49
345 SW 4th St	0.63mi	3/1.0	1,632 (+12%)	2mo	$110,000	$67	47
432 SW 3rd St	0.72mi	3/1.0	1,670 (+14%)	7mo	$124,900	$75	35

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: 27.1%
• Equity multiple: 2.13×
• Total profit: $19,478
• Equity at exit: $9,207

10-year hold

• IRR: 34.7%
• Equity multiple: 4.18×
• Total profit: $54,969
• Equity at exit: $5,339

Cash invested: $17,290 (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 47374

• Active inventory: 273
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,122 medium
• Mortgage (P&I): −$324
• Tax from tax record: −$74 /mo · $892/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $463

Break-even live

Break-even rent $537

Max offer price $61,749

Occupancy floor 54%

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: $15,437
• Closing costs: $1,852
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
418 NW L St Richmond, IN	3.0	1.0	1608	$1,275	$0.79	43d	1	0.76mi
401 N 10th St Richmond, IN	1.0–2.0	1.0	817	$895	$1.09	43d	3	0.98mi

Listing history 19 events

1. 2026-06-19
   days on market $61,749 Active 46 DOM
2. 2026-06-18
   days on market $61,749 Active 45 DOM
3. 2026-06-17
   days on market $61,749 Active 44 DOM
4. 2026-06-16
   days on market $61,749 Active 43 DOM
5. 2026-06-15
   days on market $61,749 Active 42 DOM
6. 2026-06-14
   days on market $61,749 Active 40 DOM
7. 2026-06-12
   days on market $61,749 Active 39 DOM
8. 2026-06-09
   days on market $61,749 Active 36 DOM
9. 2026-06-08
   days on market $61,749 Active 35 DOM
10. 2026-06-07
    days on market $61,749 Active 34 DOM
11. 2026-06-03
    days on market $61,749 Active 30 DOM
12. 2026-06-02
    days on market $61,749 Active 29 DOM
13. 2026-06-01
    days on market $61,749 Active 28 DOM
14. 2026-05-31
    days on market $61,749 Active 27 DOM
15. 2026-05-30
    days on market $61,749 Active 26 DOM
16. 2026-05-04
    listed $61,749 Active

    Show marketing remark (910 chars)

    SELLER FINANCING AVAILABLE! Welcome to this spacious 3-bedroom, 1.5-bathroom home located in the heart of Richmond's desirable school district. This property is perfect for both investors and homeowners alike, offering large rooms that provide ample space for comfortable living. Situated in a great school district and close to shopping, groceries, and other amenities, this home makes daily errands a breeze. It is a fantastic rental investment opportunity, promising great returns. The home also features a separate laundry room for added convenience and a 24x24 garage that provides ample storage and parking space. Whether you're looking to invest or find a new place to call home, 431 Randolph Street has everything you need. Don't miss out on this incredible opportunity. For more information or to schedule a viewing, contact: Brian Ingle @ FC Tucker Richmond 765-960-0533 Brian. [email protected]

17. 2026-05-04
    listed $61,749 Active 910-char remark

    Show marketing remark (910 chars)

    SELLER FINANCING AVAILABLE! Welcome to this spacious 3-bedroom, 1.5-bathroom home located in the heart of Richmond's desirable school district. This property is perfect for both investors and homeowners alike, offering large rooms that provide ample space for comfortable living. Situated in a great school district and close to shopping, groceries, and other amenities, this home makes daily errands a breeze. It is a fantastic rental investment opportunity, promising great returns. The home also features a separate laundry room for added convenience and a 24x24 garage that provides ample storage and parking space. Whether you're looking to invest or find a new place to call home, 431 Randolph Street has everything you need. Don't miss out on this incredible opportunity. For more information or to schedule a viewing, contact: Brian Ingle @ FC Tucker Richmond 765-960-0533 Brian. [email protected]

18. 2025-11-18
    price $61,749
19. 2025-04-02
    price $61,750

ⓘ 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: $892 · $74/mo
• Projected year-2 tax: $892 · $74/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,467
• − Mortgage interest: −$3,459
• − Property taxes: −$892
• − Insurance: −$309
• − Repairs & maintenance: −$1,077
• − Management: −$1,077
• − Depreciation: −$1,796
• Taxable income: $4,856
• Est. tax owed @ 24.0%: −$1,165
• After-tax cash flow: $4,387/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: Richmond Community Schools
• NCES district ID: 1809510
• Math proficiency: 18% ▼ -7.00%
• Reading proficiency: 27% ▼ -2.00%
• Median HH income: $35,288
• Composite: 18.55/100
• National rank: #8913
• State rank: #270 of 301 in IN

Livability — Richmond

• Score: 83/100
• State rank: #10
• US rank: #869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, IN
• County: Wayne County · 44,615 people
• City population: 44,615
• Metro: Richmond, IN
• Population (ZIP): 44,615
• Household income: $50,766
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1600.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 63,316 people
• By 2030: 60,893 · -3.8%
• By 2040: 55,386 · -12.5%
• By 2050: 49,946 · -21.1%
• By 2075: 37,900 · -40.1%
• By 2100: 26,562 · -58.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Black 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+32.5) · D 32.9% · R 65.4% · Other 1.6%
• 2008→2024 swing: -28.6pp toward R · 2008: -3.9pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+29.1 2016: R+30.1 2012: R+14.7 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.64%
• Current HPI: 182.5038
• Rent YoY: —
• Metro: Richmond, IN
• 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

-0.0% since first listed

4 events — show timeline

• 2026-05-04 Listed $61,749 RRELMS
• 2026-05-04 Listed $61,749 MIBOR as Distributed by MLS Grid
• 2025-11-18 Price Changed $61,749 RRELMS
• 2025-04-02 Price Changed $61,750 RRELMS

Property tax history

+8.7%/yr

Latest (2024): $892 · +14.1% YoY. Source: county tax records.