1210 S Q St · Richmond, IN 47374

$57,900

3 bd · 2.0 ba · 1,000 sqft · Land · 16 Days on market

Built 1999

---

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 +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

New furnace and air September 2025.. all new appliances installed when we moved in. . carpet and flooring as well. . new toilets, new front door and storm and car port. . clean and move in ready

Key facts

• Tennis court
• Bright white kitchen
• Swimming pool

Tags

• SWIMMING POOL
• BASKETBALL COURT
• TENNIS COURT
• COVERED FRONT AND SIDE PORCHES
• VAULTED CEILINGS
• BRIGHT WHITE KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $58k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $57k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 5.2% in Richmond — 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 83/100 on livability (#10 in IN, #869 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, employment D-.
• Richmond Community Schools (town): math 18% / reading 27% proficiency, ranked #270 of 301 in IN (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Richmond High School (math 21% / reading 48%, grade F, #270 of 369 statewide, top 77%, 1,332 students, 66% FRL) — zoned schools at 66% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 22% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Richmond Community Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 277 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 38 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $400 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wayne County population projected at -21% 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 $16k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 36 sale attempts since 9y ago; this cycle's ask is 132% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $57,031 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.75% ✓
• Cap rate: 14.62%
• Cash-on-cash: 29.75%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 24.3%
• Equity multiple: 2.00×
• Total profit: $16,234
• Equity at exit: $8,633

10-year hold

• IRR: 32.1%
• Equity multiple: 3.91×
• Total profit: $47,164
• Equity at exit: $5,006

Cash invested: $16,212 (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 47374

• Active inventory: 277
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,015 medium
• Mortgage (P&I): −$304
• Tax est. 1.5%: −$72 /mo · $868/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $402

Break-even live

Break-even rent $506

Max offer price $57,900

Occupancy floor 55%

Sensitivity live

Price	-10% $442	-5% $422	+0% $402	+5% $382	+10% $362
Rent	-10% $322	-5% $362	+0% $402	+5% $442	+10% $482
Rate	-1.0pp $431	-0.5pp $417	base $402	+0.5pp $387	+1.0pp $372

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: $14,475
• Closing costs: $1,737
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 S 18th St Richmond, IN	3.0	2.0	847	$1,040	$1.23	45d	7	0.61mi
1032 S 23rd St Richmond, IN	1.0–2.0	1.0	937	$790	$0.84	45d	4	0.97mi

Listing history 50 events

1. 2026-06-21
   days on market $57,900 Active 16 DOM
2. 2026-06-19
   days on market $57,900 Active 14 DOM
3. 2026-06-18
   days on market $57,900 Active 13 DOM
4. 2026-06-17
   days on market $57,900 Active 12 DOM
5. 2026-06-16
   days on market $57,900 Active 11 DOM
6. 2026-06-15
   days on market $57,900 Active 10 DOM
7. 2026-06-14
   days on market $57,900 Active 8 DOM
8. 2026-06-12
   days on market $57,900 Active 7 DOM
9. 2026-06-09
   days on market $57,900 Active 4 DOM
10. 2026-06-08
    days on market $57,900 Active 3 DOM
11. 2026-06-07
    pricedays on marketlisting id $57,900 Active 2 DOM
12. 2026-06-03
    days on market $35,000 Active 162 DOM
13. 2026-06-02
    days on market $35,000 Active 161 DOM
14. 2026-06-01
    days on market $35,000 Active 160 DOM
15. 2026-05-31
    days on market $35,000 Active 159 DOM
16. 2026-05-30
    days on market $35,000 Active 158 DOM
17. 2026-05-24
    listed $25,000 Active 194-char remark

    Show marketing remark (194 chars)

    New furnace and air September 2025.. all new appliances installed when we moved in. . carpet and flooring as well. . new toilets, new front door and storm and car port. . clean and move in ready

18. 2026-05-21
    soldstatus $55,000 Closed 115-char remark

    Show marketing remark (115 chars)

    Looking to build your dream home in the country. This is it. Just under 3 acres. Close to town, but in the country.

19. 2026-05-16
    price $64,900
20. 2026-05-13
    listed $55,000 Active
21. 2026-05-05
    status Pending
22. 2026-04-22
    price $9,900
23. 2026-04-22
    soldstatus $30,000 Closed
24. 2026-04-22
    soldstatus $30,000 Closed
25. 2026-04-14
    price $13,975
26. 2026-04-01
    price $65,900
27. 2026-04-01
    listed $39,900 Active
28. 2026-03-26
    historical
29. 2026-03-26
    historical
30. 2026-03-26
    listed $68,900 Active
31. 2026-03-16
    listed $30,000
32. 2026-03-16
    listed $30,000
33. 2026-03-13
    price $14,900
34. 2026-03-05
    price $50,000
35. 2026-02-24
    price $59,400
36. 2026-02-18
    status Active
37. 2026-02-17
    status Pending
38. 2026-02-10
    listed $19,900 Active
39. 2026-01-22
    price $55,000
40. 2026-01-22
    price $59,900
41. 2026-01-21
    status Active
42. 2026-01-21
    price $99,900
43. 2026-01-21
    price $92,900
44. 2025-12-17
    listed $35,000 Active
45. 2025-10-23
    status Active 115-char remark

    Show marketing remark (115 chars)

    Looking to build your dream home in the country. This is it. Just under 3 acres. Close to town, but in the country.

46. 2025-10-22
    historical 115-char remark

    Show marketing remark (115 chars)

    Looking to build your dream home in the country. This is it. Just under 3 acres. Close to town, but in the country.

47. 2025-09-26
    soldstatus $35,000 Closed
48. 2025-09-15
    status Pending
49. 2025-08-21
    soldstatus $36,000 Closed
50. 2025-07-24
    status Pending

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

Taxation est. · year 1

• Rental income: $12,184
• − Mortgage interest: −$3,243
• − Property taxes: −$868
• − Insurance: −$290
• − Repairs & maintenance: −$975
• − Management: −$975
• − Depreciation: −$1,684
• Taxable income: $4,149
• Est. tax owed @ 24.0%: −$996
• After-tax cash flow: $3,828/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: Richmond Community Schools
• NCES district ID: 1809510
• Math proficiency: 18% ▼ -7.00%
• Reading proficiency: 27% ▼ -2.00%
• Median HH income: $35,288
• Composite: 18.55/100
• National rank: #8913
• State rank: #270 of 301 in IN

Livability — Richmond

• Score: 83/100
• State rank: #10
• US rank: #869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, IN
• County: Wayne County · 44,615 people
• City population: 44,615
• Metro: Richmond, IN
• Population (ZIP): 44,615
• Household income: $50,766
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1600.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 63,316 people
• By 2030: 60,893 · -3.8%
• By 2040: 55,386 · -12.5%
• By 2050: 49,946 · -21.1%
• By 2075: 37,900 · -40.1%
• By 2100: 26,562 · -58.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Black 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+32.5) · D 32.9% · R 65.4% · Other 1.6%
• 2008→2024 swing: -28.6pp toward R · 2008: -3.9pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+29.1 2016: R+30.1 2012: R+14.7 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.64%
• Current HPI: 182.5038
• Rent YoY: —
• Metro: Richmond, IN
• 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

+131.5% since first listed

86 events — show timeline

• 2026-05-24 Listed $25,000 FSBO.com
• 2026-05-21 Sold (MLS) $55,000 RRELMS
• 2026-05-16 Price Changed $64,900 RRELMS
• 2026-05-13 Listed $55,000 RRELMS
• 2026-05-05 Pending — RRELMS
• 2026-04-22 Price Changed $9,900 RRELMS
• 2026-04-22 Sold (MLS) $30,000 RRELMS
• 2026-04-22 Sold (MLS) $30,000 RRELMS
• 2026-04-14 Price Changed $13,975 RRELMS
• 2026-04-01 Price Changed $65,900 RRELMS
• 2026-04-01 Listed $39,900 RRELMS
• 2026-03-26 Delisted — RRELMS
• 2026-03-26 Delisted — RRELMS
• 2026-03-26 Listed $68,900 RRELMS
• 2026-03-16 Listed $30,000 RRELMS
• 2026-03-16 Listed $30,000 RRELMS
• 2026-03-13 Price Changed $14,900 RRELMS
• 2026-03-05 Price Changed $50,000 RRELMS
• 2026-02-24 Price Changed $59,400 RRELMS
• 2026-02-18 Relisted — RRELMS
• 2026-02-17 Pending — RRELMS
• 2026-02-10 Listed $19,900 RRELMS
• 2026-01-22 Price Changed $55,000 RRELMS
• 2026-01-22 Price Changed $59,900 RRELMS
• 2026-01-21 Relisted — RRELMS
• 2026-01-21 Price Changed $99,900 RRELMS
• 2026-01-21 Price Changed $92,900 RRELMS
• 2025-12-17 Listed $35,000 RRELMS
• 2025-10-23 Relisted — RRELMS
• 2025-10-22 Delisted — RRELMS
• 2025-09-26 Sold (MLS) $35,000 RRELMS
• 2025-09-15 Pending — RRELMS
• 2025-08-21 Sold (MLS) $36,000 RRELMS
• 2025-07-24 Pending — RRELMS
• 2025-07-14 Sold (MLS) $14,000 RRELMS
• 2025-07-11 Pending — RRELMS
• 2025-07-08 Listed $14,000 RRELMS
• 2025-06-22 Delisted — RRELMS
• 2025-06-10 Listed $36,900 RRELMS
• 2025-06-03 Price Changed $39,000 RRELMS
• 2025-05-31 Price Changed $19,900 RRELMS
• 2025-05-05 Listed $45,000 RRELMS
• 2025-04-30 Price Changed $24,900 RRELMS
• 2025-03-19 Sold (MLS) $35,000 RRELMS
• 2025-03-05 Pending — RRELMS
• 2024-12-16 Listed $39,900 RRELMS
• 2024-11-25 Sold (MLS) $62,000 RRELMS
• 2024-11-04 Pending — RRELMS
• 2024-10-22 Listed $98,900 RRELMS
• 2024-10-22 Listed $93,150 RRELMS
• 2024-10-22 Listed $80,900 RRELMS
• 2024-10-21 Listed $62,000 RRELMS
• 2024-09-04 Listed $64,000 RRELMS
• 2024-08-30 Sold (MLS) $20,000 RRELMS
• 2024-08-21 Pending — RRELMS
• 2024-07-05 Listed $94,900 RRELMS
• 2024-05-13 Listed $30,000 RRELMS
• 2024-03-26 Sold (MLS) $10,000 RRELMS
• 2023-12-19 Sold (MLS) $25,500 RRELMS
• 2023-11-21 Listed $25,500 RRELMS
• 2023-11-21 Listed $12,900 RRELMS
• 2023-08-18 Sold (MLS) $62,500 RRELMS
• 2023-07-28 Sold (MLS) $19,000 RRELMS
• 2023-07-21 Sold (MLS) $31,500 RRELMS
• 2023-05-30 Listed $31,500 RRELMS
• 2023-05-17 Sold (MLS) $35,000 RRELMS
• 2023-05-16 Listed $25,500 RRELMS
• 2023-04-10 Listed $64,900 RRELMS
• 2023-04-07 Listed $39,900 RRELMS
• 2023-04-04 Sold (MLS) $30,268 RRELMS
• 2022-12-22 Listed $34,000 RRELMS
• 2022-10-04 Sold (MLS) $38,000 RRELMS
• 2022-09-09 Listed $44,000 RRELMS
• 2022-05-09 Sold (MLS) $18,000 RRELMS
• 2022-04-20 Listed $18,000 RRELMS
• 2022-02-03 Sold (MLS) $115,100 RRELMS
• 2021-09-13 Sold (MLS) $27,500 RRELMS
• 2021-08-13 Listed $25,000 RRELMS
• 2021-01-07 Sold (MLS) $31,500 RRELMS
• 2020-12-01 Sold (MLS) $16,250 RRELMS
• 2020-11-20 Listed $34,900 RRELMS
• 2020-11-19 Sold (MLS) $58,000 RRELMS
• 2020-10-22 Listed $19,900 RRELMS
• 2017-02-07 Listed $58,000 RRELMS
• 2017-02-07 Listed $115,100 RRELMS
• 2013-04-02 Sold (Public Records) $10,800 Public Records

Property tax history

+5.6%/yr

Latest (2024): $30,962 · -0.0% YoY. Source: county tax records.