602 Maple St · Monticello, IN 47960

$139,900

3 bd · 1.0 ba · 1,502 sqft · SingleFamily · 187 Days on market

Built 1912 Fair condition 7,405 sqft lot $93/sqft · 21% below area Est $177k · 21% 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 +19.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom, 1 bath, 1.5 story house on the South side of Monticello. Corner lot with street and alley access located a short distance away from the high school and the city park/Lake Freeman public boat launch. Original character with carpeted floors, a fireplace, and an enclosed porch. Detached 2 car garage with attic storage space, metal roof, large deck, vinyl windows, and utility shed with electricity in the backyard are just more reasons to be the new owner of this in-town home.

Key facts

• Corner lot property
• Metal roof
• Enclosed porch

Tags

• CORNER LOT PROPERTY
• SHORT DISTANCE TO HIGH SCHOOL
• SHORT DISTANCE TO CITY PARK
• ENCLOSED PORCH
• DETACHED GARAGE
• METAL ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.4% in Monticello — 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 71/100 on livability (#141 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Twin Lakes School Corporation (town): math 39% / reading 46% proficiency, ranked #116 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 224 active listings in the ZIP; 47 units permitted in White County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• White County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 7.59%
• Cash-on-cash: 4.63%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (median comp): $176,922
• List price: $139,900
• Delta: -20.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
702 S Bluff St	0.12mi	3/1.5	1,376 (-8%)	2mo	$165,000	$120	76
708 S Bluff St	0.13mi	3/1.5	1,404 (-6%)	7mo	$215,000	$153	75
701 S Bluff St	0.11mi	3/2.0	1,381 (-8%)	4mo	$197,000	$143	74
738 Maple St	0.20mi	3/1.0	1,425 (-5%)	9mo	$175,000	$123	74
618 S Bluff St	0.08mi	3/1.0	1,432 (-5%)	18mo	$60,000	$42	73
702 S Main St	0.18mi	3/1.5	1,482 (-1%)	18mo	$179,000	$121	73
418 Cleveland St	0.16mi	3/1.5	1,632 (+9%)	10mo	$107,700	$66	68
523 S Bluff St	0.14mi	3/2.0	1,680 (+12%)	10mo	$175,000	$104	61
215 S Railroad St	0.47mi	3/1.5	1,444 (-4%)	17mo	$220,000	$152	56
206 S Park Dr	0.65mi	3/2.0	1,440 (-4%)	13mo	$260,000	$181	48
209 Royalwood Dr	0.62mi	3/2.5	1,664 (+11%)	0mo	$300,000	$180	47
10414 W Tidewater Dr	0.67mi	3/2.0	1,417 (-6%)	12mo	$310,000	$219	45

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-13,027
• Equity at exit: $20,860

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $1,133
• Equity at exit: $12,096

Cash invested: $39,172 (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 47960

• Home prices YoY: -17.8%
• Active inventory: 224
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,415 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $151

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 84%

Sensitivity live

Price	-10% $248	-5% $199	+0% $151	+5% $103	+10% $54
Rent	-10% $39	-5% $95	+0% $151	+5% $207	+10% $263
Rate	-1.0pp $222	-0.5pp $187	base $151	+0.5pp $115	+1.0pp $78

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $139,900 Active 187 DOM
2. 2026-06-21
   days on market $139,900 Active 186 DOM
3. 2026-06-18
   days on market $139,900 Active 184 DOM
4. 2026-06-17
   days on market $139,900 Active 183 DOM
5. 2026-06-16
   days on market $139,900 Active 182 DOM
6. 2026-06-15
   days on market $139,900 Active 181 DOM
7. 2026-06-13
   days on market $139,900 Active 179 DOM
8. 2026-06-12
   days on market $139,900 Active 178 DOM
9. 2026-06-09
   days on market $139,900 Active 175 DOM
10. 2026-06-08
    days on market $139,900 Active 174 DOM
11. 2026-06-07
    days on market $139,900 Active 173 DOM
12. 2026-06-07
    days on market $139,900 Active 172 DOM
13. 2026-06-04
    days on market $139,900 Active 169 DOM
14. 2026-06-02
    days on market $139,900 Active 168 DOM
15. 2026-06-01
    price $139,900 Active 167 DOM
16. 2026-06-01
    days on market $159,900 Active 167 DOM
17. 2026-05-31
    days on market $159,900 Active 166 DOM
18. 2026-05-31
    days on market $159,900 Active 165 DOM
19. 2026-05-08
    price $159,900 487-char remark

    Show marketing remark (487 chars)

    3 bedroom, 1 bath, 1.5 story house on the South side of Monticello. Corner lot with street and alley access located a short distance away from the high school and the city park/Lake Freeman public boat launch. Original character with carpeted floors, a fireplace, and an enclosed porch. Detached 2 car garage with attic storage space, metal roof, large deck, vinyl windows, and utility shed with electricity in the backyard are just more reasons to be the new owner of this in-town home.

20. 2025-12-16
    listed $169,575 Active 487-char remark

    Show marketing remark (487 chars)

    3 bedroom, 1 bath, 1.5 story house on the South side of Monticello. Corner lot with street and alley access located a short distance away from the high school and the city park/Lake Freeman public boat launch. Original character with carpeted floors, a fireplace, and an enclosed porch. Detached 2 car garage with attic storage space, metal roof, large deck, vinyl windows, and utility shed with electricity in the backyard are just more reasons to be the new owner of this in-town home.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $16,981
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,358
• − Management: −$1,358
• − Depreciation: −$4,070
• Taxable loss: −$441
• Est. tax savings @ 24.0%: +$106
• After-tax cash flow: $1,919/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 3-bedroom, 1-bath home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathroom, and exterior siding.

Repairs flagged

• Major kitchen cabinets — poor condition
• Major kitchen countertops — poor condition
• Major kitchen flooring — poor condition
• Major bathroom — cluttered and outdated
• Moderate exterior siding — weathered
• Major interior walls/paint — paint peeling

Value-add opportunities

• Both paint exterior siding — enhances curb appeal and value
• Both replace carpeted flooring — improves living space and value
• Both update kitchen cabinets and countertops — modernizes kitchen and increases value
• Both update bathroom fixtures and organization — enhances bathroom functionality and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · poor condition	Major	$15,000–50,000
kitchen countertops · poor condition	Major	$15,000–50,000
kitchen flooring · poor condition	Major	$15,000–50,000
bathroom · cluttered and outdated	Major	$15,000–50,000
exterior siding · weathered	Moderate	$3,000–15,000
interior walls/paint · paint peeling	Major	$15,000–50,000
Total estimated repair cost · 6 items		$78,000–265,000

Value-add ROI direction

• Both paint exterior siding — enhances curb appeal and value ↑
• Both replace carpeted flooring — improves living space and value ↑
• Both update kitchen cabinets and countertops — modernizes kitchen and increases value ↑
• Both update bathroom fixtures and organization — enhances bathroom functionality and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Twin Lakes School Corporation
• NCES district ID: 1811580
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 46% ▼ -5.00%
• Median HH income: $48,963
• Composite: 36.44/100
• National rank: #4666
• State rank: #116 of 301 in IN

Livability — Monticello

• Score: 71/100
• State rank: #141
• US rank: #7278

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monticello, IN
• Population (ZIP): 15,313

Population outlook (White County) Hauer SSP2

• Today (2025): 23,006 people
• By 2030: 22,204 · -3.5%
• By 2040: 20,441 · -11.1%
• By 2050: 18,711 · -18.7%
• By 2075: 14,989 · -34.8%
• By 2100: 10,896 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 4% Iranian 3% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · White

• 2024 margin: Solid R (+45.0) · D 26.4% · R 71.4% · Other 2.2%
• 2008→2024 swing: -36.7pp toward R · 2008: -8.3pp · 2024: -45.0pp
• All cycles: 2024: R+45.0 2020: R+44.1 2016: R+42.9 2012: R+23.6 2008: R+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.85%
• Current HPI: 243.8468
• 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

-5.7% since first listed

2 events — show timeline

• 2026-05-08 Price Changed $159,900 IRMLS
• 2025-12-16 Listed $169,575 IRMLS