112 Christian St

Worthington, IN 47471

$59,900B

3 bd · 1.0 ba · 1,846 sqft · Built 1910 · SingleFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,020/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$60
• HOA: −$0
• Vac / Maint / Mgmt: −$214
• Net cashflow: $432/mo
• Annual: $5,179/yr
• Cap rate: 14.94%
• Cash-on-cash: 30.88%
• DSCR: 2.37
• 1% rule: 1.70%
• Cash to close: $16,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 15 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($414 loan paydown + $904 appreciation (1.5% local appreciation)).
• Location reads 70/100 on livability (#174 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• White River Valley School District (rural): math 33% / reading 39% proficiency, ranked #187 of 301 in IN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: White River Valley Elementary Sch (math 52% / reading 42%, grade D-, #325 of 994 statewide, top 36%, 326 students, 64% FRL); White River Valley Middle School (math 29% / reading 35%, grade F, #190 of 330 statewide, top 59%, 209 students, 60% FRL); White River Valley High School (math 22% / reading 47%, grade F, #270 of 369 statewide, top 77%, 210 students, 56% FRL) — zoned schools average 60% FRL vs 42% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 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.
• At projected returns (1.5% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1910 — 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.
• 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.