708 N Main St

Linden, IN 47955

$89,900C+

2 bd · 1.0 ba · 1,062 sqft · Built 1900 · SingleFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $980/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$201
• HOA: −$0
• Vac / Maint / Mgmt: −$206
• Net cashflow: $101/mo
• Annual: $1,218/yr
• Cap rate: 7.65%
• Cash-on-cash: 4.84%
• DSCR: 1.22
• 1% rule: 1.09%
• Cash to close: $25,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $101 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($980 rent vs $90k).
• It's been on market 39 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($622 loan paydown + $1k appreciation (1.3% local appreciation)).
• Location reads 65/100 on livability (#361 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, amenities F, commute F.
• North Montgomery Community School Corporation (rural): math 47% / reading 53% proficiency, ranked #50 of 301 in IN (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Montgomery High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 516 students, 34% FRL) — zoned schools at 34% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.