845 N Crowe Rd

Bloomfield, IN 47424

$147,500D

2 bd · 1.0 ba · 756 sqft · Built 1939 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,308/mo
• Mortgage (P&I): −$774
• Tax + insurance: −$246
• HOA: −$0
• Vac / Maint / Mgmt: −$275
• Net cashflow: $14/mo
• Annual: $165/yr
• Cap rate: 6.40%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• 1% rule: 0.89%
• Cash to close: $41,300

Investor read

• This is a 2-bed/1.0-bath single-family listed at $148k.
• At list price, monthly cash flow is $14 ($165/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (11.3% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $131k (11.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#96 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Eastern Greene Schools (rural): math 31% / reading 37% proficiency, ranked #199 of 301 in IN (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastern Greene Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 433 students, 54% FRL); Eastern Greene Middle School (math 27% / reading 33%, grade F, #208 of 330 statewide, top 64%, 349 students, 51% FRL); Eastern Greene High School (math 42% / reading 77%, grade C+, #49 of 369 statewide, top 16%, 334 students, 43% FRL).
• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 55 active listings in the ZIP.
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• Built in 1939 — 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 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?
• 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?
• 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.