246 S 3rd St · Gosport, IN 47433

$130,000

2 bd · 1.0 ba · 1,760 sqft · SingleFamily public records · 30 Days on market

Built 1900 0.60 ac lot $74/sqft · 45% below area Est $184k · 29% under ↓ 24% since listing

---

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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• Appreciation +10.0/10.0
• DSCR +4.5/10.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming bungalow with lots of old-world features on a quiet tree-lined street. Expansive covered front porch. Two large bedrooms, main-level master. Original hardwoods throughout most of main floor. Two car detached garage and a beautiful yard with mature trees.

Key facts

• 0.6-acre lot
• Water heater
• Real wood floors

Tags

• 0.6-ACRE LOT
• REAL WOOD FLOORS
• NEWER HVAC SYSTEM
• WATER HEATER

Property features AI

Exterior

• Parking: Detached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; Single-story
• Construction: Vinyl siding; Block foundation
• Exterior features: Lot dimensions approximately 70 x 310; Approximately 0.6 acre lot

Interior

• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Crawl space basement; Total of 4 rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $37 ($447/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 $107k (18.0% below list).
• Recommended offer: $107k (18.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#133 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.
• Spencer-Owen Community Schools (rural): math 38% / reading 40% proficiency, ranked #155 of 301 in IN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gosport Elementary School (math 37% / reading 32%, grade F, #597 of 994 statewide, top 63%, 144 students, 76% FRL); Owen Valley Middle School (math 22% / reading 36%, grade F, #222 of 330 statewide, top 67%, 344 students, 55% FRL); Owen Valley Community High School (math 42% / reading 62%, grade D+, #106 of 369 statewide, top 31%, 671 students, 51% FRL) — zoned schools average 61% FRL vs 44% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 30 active listings in the ZIP; 120 units permitted in Owen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k appreciation (10.0% local appreciation)).
• Owen County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y ago 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.
• Current owner paid $72k; list at $130k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,650 (18.0% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.82% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.23%
• DSCR: 1.05
• GRM: 10.2

CMA / ARV

• ARV (median comp): $184,277
• List price: $130,000
• Delta: -29.45%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
357 W North St	0.44mi	3/2.0 (+1)	1,771 (+1%)	10mo	$219,000	$124	61

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 3.01×
• Total profit: $73,132
• Equity at exit: $117,114

10-year hold

• IRR: 22.2%
• Equity multiple: 6.86×
• Total profit: $213,415
• Equity at exit: $252,561

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 47433

• Home prices YoY: 9.4%
• Active inventory: 30
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,066 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$69 /mo · $833/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $37

Break-even live

Break-even rent $1,019

Max offer price $130,000

Occupancy floor 92%

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 13 events

1. 2026-04-28
   listed $130,000 Active 616-char remark
2. 2020-10-09
   soldstatus $45,000

   Show marketing remark (263 chars)

   Charming bungalow with lots of old-world features on a quiet tree-lined street. Expansive covered front porch. Two large bedrooms, main-level master. Original hardwoods throughout most of main floor. Two car detached garage and a beautiful yard with mature trees.

3. 2020-08-31
   listed $45,000

   Show marketing remark (263 chars)

   Charming bungalow with lots of old-world features on a quiet tree-lined street. Expansive covered front porch. Two large bedrooms, main-level master. Original hardwoods throughout most of main floor. Two car detached garage and a beautiful yard with mature trees.

4. 2018-11-04
   listed $56,000
5. 2018-07-13
   listed $69,900
6. 2012-10-31
   historical
7. 2012-04-09
   listed $84,900
8. 2011-12-31
   historical
9. 2011-06-28
   listed $87,500
10. 2010-04-19
    historical
11. 2009-04-07
    listed $89,900
12. 2004-09-25
    historical
13. 2004-03-25
    listed $94,500

ⓘ 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: $833 · $69/mo
• Projected year-2 tax: $969 · $81/mo
• Expected delta: +$136/yr (+$11/mo · 16.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,798
• − Mortgage interest: −$7,282
• − Property taxes: −$833
• − Insurance: −$650
• − Repairs & maintenance: −$1,024
• − Management: −$1,024
• − Depreciation: −$3,782
• Taxable loss: −$1,796
• Est. tax savings @ 24.0%: +$431
• After-tax cash flow: $878/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: Spencer-Owen Community Schools
• NCES district ID: 1810950
• Math proficiency: 38% ▼ -6.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $45,258
• Composite: 33.21/100
• National rank: #5529
• State rank: #155 of 301 in IN

Livability — Gosport

• Score: 71/100
• State rank: #133
• US rank: #6926

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gosport, IN
• Population (ZIP): 3,722

Population outlook (Owen County) Hauer SSP2

• Today (2025): 19,045 people
• By 2030: 17,930 · -5.9%
• By 2040: 15,507 · -18.6%
• By 2050: 13,253 · -30.4%
• By 2075: 9,364 · -50.8%
• By 2100: 6,686 · -64.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Italian 12% Iranian 2% Slovak 2%
• Foreign-born: 0%

Political lean MEDSL · Owen

• 2024 margin: Solid R (+50.7) · D 23.8% · R 74.5% · Other 1.6%
• 2008→2024 swing: -40.3pp toward R · 2008: -10.3pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+49.1 2016: R+49.4 2012: R+27.6 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 24.01%
• Current HPI: 278.3717
• 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

-23.8% since first listed

15 events — show timeline

• 2026-06-17 Sold (MLS) $72,000 IRMLS
• 2026-05-28 Pending — IRMLS
• 2026-04-28 Listed $130,000 IRMLS
• 2020-10-09 Sold (MLS) $45,000 MIBOR as Distributed by MLS Grid
• 2020-08-31 Listed $45,000 MIBOR as Distributed by MLS Grid
• 2018-11-04 Listed $56,000 IRMLS
• 2018-07-13 Listed $69,900 IRMLS
• 2012-10-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-04-09 Listed $84,900 MIBOR as Distributed by MLS Grid
• 2011-12-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-06-28 Listed $87,500 MIBOR as Distributed by MLS Grid
• 2010-04-19 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-04-07 Listed $89,900 MIBOR as Distributed by MLS Grid
• 2004-09-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-03-25 Listed $94,500 MIBOR as Distributed by MLS Grid

Property tax history

-4.9%/yr

Latest (2024): $833 · +20.7% YoY. Source: county tax records.