108 N Cicott St · Logansport, IN 46947

$130,000

4 bd · 1.0 ba · 2,430 sqft · SingleFamily public records · 2 Days on market

Built 1940 8,712 sqft lot Est $156k · 16% under ↓ 6% since listing

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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 +23.0/30.0
• ARV discount +14.9/15.0
• DSCR +7.4/10.0
• 1% rule +5.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and full of character, this charming home showcases beautiful woodwork throughout. The main level features two bedrooms, a formal dining room, a welcoming living area, and hardwood floors that add warmth and timeless appeal. A convenient main-floor laundry room is located just off the kitchen. An enclosed back porch off the kitchen adds additional storage space. Upstairs, you’ll find three additional bedrooms and a walk-in attic space offering excellent potential for future finishing or added storage. The property also includes an oversized, heated two-car detached garage. Situated on a corner lot directly across from the Wabash River, this home offers both charm and a scenic

Key facts

• Enclosed back porch
• Walk in attic space
• Fenced yard

Tags

• MAIN FLOOR LAUNDRY ROOM
• ENCLOSED BACK PORCH
• WALK IN ATTIC SPACE
• OVERSIZED HEATED GARAGE
• CORNER LOT
• FENCED YARD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 8.4% vs local median 4.4% in Logansport — 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 78/100 on livability (#34 in IN, #2,683 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, amenities A+, cost of living A+; Watch: commute F, employment D-.
• Logansport Community School Corporation (town): math 26% / reading 32% proficiency, ranked #252 of 301 in IN (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Fairview Elementary School (math 47% / reading 37%, grade F, #434 of 994 statewide, top 48%, 449 students, 78% FRL); Logansport Junior High School (math 17% / reading 30%, grade F, #257 of 330 statewide, top 79%, 607 students, 67% FRL); Logansport Community High School (math 24% / reading 46%, grade F, #266 of 369 statewide, top 73%, 1,224 students, 62% FRL) — zoned schools average 69% FRL vs 50% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 129 active listings in the ZIP; 22 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cass County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 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: flood insurance adds $56/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.07% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.58%
• DSCR: 1.34
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $155,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 W Wabash Ave	0.25mi	3/1.5 (-1)	2,500 (+3%)	3mo	$180,000	$72	74
424 W Broadway St	0.31mi	4/1.5	2,288 (-6%)	7mo	$115,000	$50	68
509 Helm St	0.05mi	4/2.0	2,128 (-12%)	9mo	$70,000	$33	66
601 W Broadway St	0.27mi	4/1.5	2,224 (-8%)	12mo	$77,000	$35	61
315 Grove St	0.39mi	4/1.0	2,112 (-13%)	7mo	$149,000	$71	54
315 Burlington Ave	0.51mi	3/1.5 (-1)	2,356 (-3%)	12mo	$198,000	$84	54
905 Plum St	0.60mi	3/1.0 (-1)	2,605 (+7%)	8mo	$51,000	$20	48
336 Grove St	0.41mi	4/2.0	2,256 (-7%)	23mo	$65,000	$29	46
219 Tanguy St	0.46mi	4/1.5	2,096 (-14%)	14mo	$72,500	$35	42
201 Tacoma Ave	0.67mi	4/2.5	2,112 (-13%)	2mo	$134,300	$64	39
430 Tanguy St	0.48mi	3/2.0 (-1)	2,228 (-8%)	23mo	$160,000	$72	36
310 Humphrey St	0.68mi	4/2.0	2,576 (+6%)	23mo	$229,900	$89	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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-9,913
• Equity at exit: $19,383

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $5,836
• Equity at exit: $11,240

Cash invested: $36,400 (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 46947

• Home prices YoY: -28.9%
• Active inventory: 129
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,394 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$136 /mo · $1,628/yr
• Insurance: −$54
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $174

Break-even live

Break-even rent $1,174

Max offer price $130,000

Occupancy floor 82%

Sensitivity live

Price	-10% $248	-5% $211	+0% $174	+5% $138	+10% $101
Rent	-10% $64	-5% $119	+0% $174	+5% $230	+10% $285
Rate	-1.0pp $240	-0.5pp $208	base $174	+0.5pp $141	+1.0pp $107

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-24
   status Pending
2. 2026-04-23
   historical Active Under Contract
3. 2026-04-22
   listed $130,000 Active
4. 2025-08-19
   price $129,000
5. 2025-07-09
   listed $139,000 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: $1,628 · $136/mo
• Projected year-2 tax: $1,628 · $136/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 10/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,733
• − Mortgage interest: −$7,282
• − Property taxes: −$1,628
• − Insurance: −$1,316
• − Repairs & maintenance: −$1,339
• − Management: −$1,339
• − Depreciation: −$3,782
• Taxable income: $48
• Est. tax owed @ 24.0%: −$11
• After-tax cash flow: $2,083/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: Logansport Community School Corporation
• NCES district ID: 1806030
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $37,767
• Composite: 24.19/100
• National rank: #7733
• State rank: #252 of 301 in IN

Livability — Logansport

• Score: 78/100
• State rank: #34
• US rank: #2683

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Logansport, IN
• City population: 28,830
• Population (ZIP): 28,830

Population outlook (Cass County) Hauer SSP2

• Today (2025): 36,480 people
• By 2030: 35,390 · -3.0%
• By 2040: 33,077 · -9.3%
• By 2050: 30,631 · -16.0%
• By 2075: 25,426 · -30.3%
• By 2100: 20,617 · -43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 8% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 80% English-only · Spanish 17% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+46.2) · D 26.2% · R 72.4% · Other 1.4%
• 2008→2024 swing: -37.7pp toward R · 2008: -8.5pp · 2024: -46.2pp
• All cycles: 2024: R+46.2 2020: R+41.1 2016: R+42.0 2012: R+21.7 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.21%
• Current HPI: 223.8394
• 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

-6.5% since first listed

5 events — show timeline

• 2026-04-24 Pending — IRMLS
• 2026-04-23 Contingent — IRMLS
• 2026-04-22 Listed $130,000 IRMLS
• 2025-08-19 Price Changed $129,000 IRMLS
• 2025-07-09 Listed $139,000 IRMLS

Property tax history

+9.5%/yr

Latest (2024): $1,628 · +122.7% YoY. Source: county tax records.