1004 N Washington St · Bicknell, IN 47512

$28,000

2 bd · 1.0 ba · 819 sqft · SingleFamily public records · 75 Days on market

Built 1950 8,320 sqft lot $34/sqft · 69% below area ↓ 33% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Value-add opportunity in Bicknell. Approx. 819 sq ft, on a large 0.19-acre lot. Property needs a roof replacement: cash or hard money buyers only. Currently occupied. Estimated ARV $110,000. HUD Fair Market Rent for a 2BR/1BA home in this market is $956/mo.

Key facts

• 8,320 sq ft lot
• Built 1950
• Listed 75 days

🏷️ Possibly a rental listed for sale. The $28,000 price doesn't fit this home's estimated sale value (~$90,877) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $28k.

Deal economics

• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($862 rent vs $28k).
• Recommended offer: $26k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#373 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: health & safety C-, schools F, amenities F.
• North Knox School Corporation (rural): math 28% / reading 45% proficiency, ranked #186 of 301 in IN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 34 active listings in the ZIP; 36 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $194 of loan paydown is wiped out by about $840 of value loss. Plan a longer hold.
• Knox County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $17k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,320 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 3.08% ✓
• Cap rate: 27.17%
• Cash-on-cash: 74.56%
• DSCR: 4.32
• GRM: 2.7

CMA / ARV

• ARV (median comp): $90,877
• List price: $28,000
• Delta: -69.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 W 10th St	0.24mi	1/1.0 (-1)	777 (-5%)	12mo	$97,500	$125	65
717 Cleveland St	0.27mi	2/1.0	784 (-4%)	23mo	$119,000	$152	61
800 N Dant Blvd	0.52mi	2/2.0	936 (+14%)	18mo	$110,000	$118	33

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: 74.4%
• Equity multiple: 4.38×
• Total profit: $26,501
• Equity at exit: $4,175

10-year hold

• IRR: 78.2%
• Equity multiple: 9.05×
• Total profit: $63,080
• Equity at exit: $2,421

Cash invested: $7,840 (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 47512

• Home prices YoY: -32.1%
• Active inventory: 34
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $862 medium
• Mortgage (P&I): −$147
• Tax est. 1.5%: −$35 /mo · $420/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $487

Break-even live

Break-even rent $245

Max offer price $28,000

Occupancy floor 38%

Sensitivity live

Price	-10% $506	-5% $497	+0% $487	+5% $477	+10% $468
Rent	-10% $419	-5% $453	+0% $487	+5% $521	+10% $555
Rate	-1.0pp $501	-0.5pp $494	base $487	+0.5pp $480	+1.0pp $472

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: $7,000
• Closing costs: $840
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   pricedays on market $28,000 Active 75 DOM
2. 2026-06-18
   days on market $30,000 Active 73 DOM
3. 2026-06-17
   days on market $30,000 Active 72 DOM
4. 2026-06-16
   days on market $30,000 Active 71 DOM
5. 2026-06-15
   days on market $30,000 Active 70 DOM
6. 2026-06-13
   days on market $30,000 Active 68 DOM
7. 2026-06-12
   days on market $30,000 Active 67 DOM
8. 2026-06-09
   days on market $30,000 Active 64 DOM
9. 2026-06-08
   days on market $30,000 Active 63 DOM
10. 2026-06-07
    days on market $30,000 Active 62 DOM
11. 2026-06-05
    days on market $30,000 Active 60 DOM
12. 2026-06-04
    days on market $30,000 Active 58 DOM
13. 2026-06-02
    days on market $30,000 Active 57 DOM
14. 2026-06-01
    days on market $30,000 Active 56 DOM
15. 2026-05-31
    days on market $30,000 Active 55 DOM
16. 2026-05-31
    days on market $30,000 Active 54 DOM
17. 2026-05-14
    price $30,000 258-char remark

    Show marketing remark (396 chars)

    Value-add opportunity in Bicknell. Approx. 819 sq ft, on a 0.19-acre lot. Property needs a roof replacement: cash or hard money buyers only. Currently occupied: tenant will vacate for showings. Do not disturb occupant. All showings scheduled through the listing agent. Estimated ARV $110,000 with an all-in budget around $77,000. HUD Fair Market Rent for a 2BR/1BA home in this market is $956/mo.

18. 2026-05-14
    price $30,000 396-char remark

    Show marketing remark (396 chars)

    Value-add opportunity in Bicknell. Approx. 819 sq ft, on a 0.19-acre lot. Property needs a roof replacement: cash or hard money buyers only. Currently occupied: tenant will vacate for showings. Do not disturb occupant. All showings scheduled through the listing agent. Estimated ARV $110,000 with an all-in budget around $77,000. HUD Fair Market Rent for a 2BR/1BA home in this market is $956/mo.

19. 2026-04-28
    price $40,000 396-char remark

    Show marketing remark (396 chars)

    Value-add opportunity in Bicknell. Approx. 819 sq ft, on a 0.19-acre lot. Property needs a roof replacement: cash or hard money buyers only. Currently occupied: tenant will vacate for showings. Do not disturb occupant. All showings scheduled through the listing agent. Estimated ARV $110,000 with an all-in budget around $77,000. HUD Fair Market Rent for a 2BR/1BA home in this market is $956/mo.

20. 2026-04-20
    listed $45,000 Active 396-char remark

    Show marketing remark (396 chars)

    Value-add opportunity in Bicknell. Approx. 819 sq ft, on a 0.19-acre lot. Property needs a roof replacement: cash or hard money buyers only. Currently occupied: tenant will vacate for showings. Do not disturb occupant. All showings scheduled through the listing agent. Estimated ARV $110,000 with an all-in budget around $77,000. HUD Fair Market Rent for a 2BR/1BA home in this market is $956/mo.

21. 2026-03-30
    listed $45,000 Active 258-char remark

    Show marketing remark (258 chars)

    Value-add opportunity in Bicknell. Approx. 819 sq ft, on a large 0.19-acre lot. Property needs a roof replacement: cash or hard money buyers only. Currently occupied. Estimated ARV $110,000. HUD Fair Market Rent for a 2BR/1BA home in this market is $956/mo.

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $10,339
• − Mortgage interest: −$1,568
• − Property taxes: −$420
• − Insurance: −$140
• − Repairs & maintenance: −$827
• − Management: −$827
• − Depreciation: −$815
• Taxable income: $5,742
• Est. tax owed @ 24.0%: −$1,378
• After-tax cash flow: $4,468/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: North Knox School Corporation
• NCES district ID: 1807830
• Math proficiency: 28% ▼ -11.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $42,553
• Composite: 30.82/100
• National rank: #6139
• State rank: #186 of 301 in IN

Livability — Bicknell

• Score: 64/100
• State rank: #373
• US rank: #13970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bicknell, IN
• City population: 4,216
• Population (ZIP): 4,216

Population outlook (Knox County) Hauer SSP2

• Today (2025): 37,092 people
• By 2030: 36,271 · -2.2%
• By 2040: 34,196 · -7.8%
• By 2050: 32,405 · -12.6%
• By 2075: 28,754 · -22.5%
• By 2100: 24,110 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Italian 3% Lithuanian 1% Iranian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Tagalog/Filipino 1% Spanish 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+50.4) · D 24.0% · R 74.4% · Other 1.6%
• 2008→2024 swing: -43.9pp toward R · 2008: -6.5pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+47.4 2016: R+47.2 2012: R+28.9 2008: R+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.85%
• Current HPI: 191.8851
• 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

-33.3% since first listed

5 events — show timeline

• 2026-05-14 Price Changed $30,000 MIBOR as Distributed by MLS Grid
• 2026-05-14 Price Changed $30,000 IRMLS
• 2026-04-28 Price Changed $40,000 IRMLS
• 2026-04-20 Listed $45,000 IRMLS
• 2026-03-30 Listed $45,000 MIBOR as Distributed by MLS Grid

Property tax history

-5.0%/yr

Latest (2024): $20 · +33.3% YoY. Source: county tax records.