772 E 900 N · Mays, IN 46155

$129,900

3 bd · 1.0 ba · 1,970 sqft · SingleFamily public records · 131 Days on market

Built 1883 9,017 sqft lot $66/sqft · 39% below area Est $232k · 44% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Appreciation +5.0/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Big, classic home with undeniable character and a roomy interior featuring pocket doors, a spacious kitchen, and generous living areas. The larger rooms and inviting wraparound porch add timeless charm and plenty of space for family living. While the home does need renovation and updates, it offers the perfect opportunity to customize and tailor it into a truly special big family home.

Key facts

• Pocket doors
• Spacious kitchen
• Wraparound porch

Tags

• POCKET DOORS
• SPACIOUS KITCHEN
• WRAPAROUND PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $569 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Rush County Schools (town): math 38% / reading 41% proficiency, ranked #147 of 301 in IN (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rushville Elementary School West (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 366 students, 66% FRL); Benjamin Rush Middle School (math 37% / reading 40%, grade F, #132 of 330 statewide, top 41%, 318 students, 62% FRL); Rushville Consolidated High School (math 37% / reading 67%, grade D+, #106 of 369 statewide, top 31%, 654 students, 54% FRL) — zoned schools average 61% FRL vs 43% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 3 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 59 units permitted in Rush County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($898 loan paydown + $4k appreciation (3.0% local appreciation)).
• Rush County population projected at -22% 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 $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $23k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $130k implies a 766% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1883 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1883 — 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. 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.
6. 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.
7. 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: 1.39% ✓
• Cap rate: 11.54%
• Cash-on-cash: 18.76%
• DSCR: 1.83
• GRM: 6.0

CMA / ARV

• ARV (median comp): $231,672
• List price: $129,900
• Delta: -43.93%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 25.1%
• Equity multiple: 2.43×
• Total profit: $51,859
• Equity at exit: $58,409

10-year hold

• IRR: 25.9%
• Equity multiple: 4.68×
• Total profit: $133,885
• Equity at exit: $90,015

Cash invested: $36,372 (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 46155

• Active inventory: 3
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$118 /mo · $1,418/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $569

Break-even live

Break-even rent $1,080

Max offer price $129,900

Occupancy floor 63%

Sensitivity live

Price	-10% $642	-5% $605	+0% $569	+5% $532	+10% $495
Rent	-10% $426	-5% $497	+0% $569	+5% $640	+10% $711
Rate	-1.0pp $634	-0.5pp $602	base $569	+0.5pp $535	+1.0pp $501

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10201 N 150 E Lewisville, IN	3.0	2.0	2160	$1,800	$0.83	5d	1	1.23mi

Listing history 20 events

1. 2026-06-21
   days on market $129,900 Active 131 DOM
2. 2026-06-18
   days on market $129,900 Active 128 DOM
3. 2026-06-17
   days on market $129,900 Active 127 DOM
4. 2026-06-16
   days on market $129,900 Active 126 DOM
5. 2026-06-15
   days on market $129,900 Active 125 DOM
6. 2026-06-13
   days on market $129,900 Active 123 DOM
7. 2026-06-13
   days on market $129,900 Active 122 DOM
8. 2026-06-09
   days on market $129,900 Active 119 DOM
9. 2026-06-08
   days on market $129,900 Active 118 DOM
10. 2026-06-07
    days on market $129,900 Active 117 DOM
11. 2026-06-05
    days on market $129,900 Active 114 DOM
12. 2026-06-03
    days on market $129,900 Active 113 DOM
13. 2026-06-02
    days on market $129,900 Active 112 DOM
14. 2026-06-01
    days on market $129,900 Active 111 DOM
15. 2026-05-31
    days on market $129,900 Active 110 DOM
16. 2026-04-25
    price $133,000 388-char remark

    Show marketing remark (388 chars)

    Big, classic home with undeniable character and a roomy interior featuring pocket doors, a spacious kitchen, and generous living areas. The larger rooms and inviting wraparound porch add timeless charm and plenty of space for family living. While the home does need renovation and updates, it offers the perfect opportunity to customize and tailor it into a truly special big family home.

17. 2026-04-03
    price $143,000 388-char remark

    Show marketing remark (388 chars)

    Big, classic home with undeniable character and a roomy interior featuring pocket doors, a spacious kitchen, and generous living areas. The larger rooms and inviting wraparound porch add timeless charm and plenty of space for family living. While the home does need renovation and updates, it offers the perfect opportunity to customize and tailor it into a truly special big family home.

18. 2026-02-10
    listed $153,000 Active 388-char remark

    Show marketing remark (388 chars)

    Big, classic home with undeniable character and a roomy interior featuring pocket doors, a spacious kitchen, and generous living areas. The larger rooms and inviting wraparound porch add timeless charm and plenty of space for family living. While the home does need renovation and updates, it offers the perfect opportunity to customize and tailor it into a truly special big family home.

19. 2005-06-03
    soldstatus $15,000 178-char remark

    Show marketing remark (178 chars)

    ONCE GRAND FAMILY HOME IN SMALL RURAL TOWN OF MAYS, NOW BEING SOLD 'AS IS', 'WHERE IS' WITH NO REPRESENTATIONS OR WARRANTIES FROM SELLER OR SELLERS AGENT. SELLER WANTS OFFERS....

20. 2005-05-15
    listed $19,900 178-char remark

    Show marketing remark (178 chars)

    ONCE GRAND FAMILY HOME IN SMALL RURAL TOWN OF MAYS, NOW BEING SOLD 'AS IS', 'WHERE IS' WITH NO REPRESENTATIONS OR WARRANTIES FROM SELLER OR SELLERS AGENT. SELLER WANTS OFFERS....

ⓘ 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: $1,418 · $118/mo
• Projected year-2 tax: $1,418 · $118/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 19 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: $21,600
• − Mortgage interest: −$7,276
• − Property taxes: −$1,418
• − Insurance: −$650
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$3,779
• Taxable income: $5,022
• Est. tax owed @ 24.0%: −$1,205
• After-tax cash flow: $5,617/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: Rush County Schools
• NCES district ID: 1809750
• Math proficiency: 38% ▼ -14.00%
• Reading proficiency: 41% ▼ -14.00%
• Median HH income: $46,237
• Composite: 33.72/100
• National rank: #5377
• State rank: #147 of 301 in IN

Livability — Mays

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Mays, IN
• City population: 71
• Population (ZIP): 71

Population outlook (Rush County) Hauer SSP2

• Today (2025): 15,654 people
• By 2030: 15,036 · -3.9%
• By 2040: 13,674 · -12.6%
• By 2050: 12,239 · -21.8%
• By 2075: 9,466 · -39.5%
• By 2100: 7,104 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Portuguese 15%

Political lean MEDSL · Rush

• 2024 margin: Solid R (+54.0) · D 21.9% · R 75.9% · Other 2.2%
• 2008→2024 swing: -40.4pp toward R · 2008: -13.7pp · 2024: -54.0pp
• All cycles: 2024: R+54.0 2020: R+54.0 2016: R+52.2 2012: R+34.3 2008: R+13.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+568.3% since first listed

5 events — show timeline

• 2026-04-25 Price Changed $133,000 MIBOR as Distributed by MLS Grid
• 2026-04-03 Price Changed $143,000 MIBOR as Distributed by MLS Grid
• 2026-02-10 Listed $153,000 MIBOR as Distributed by MLS Grid
• 2005-06-03 Sold (MLS) $15,000 MIBOR as Distributed by MLS Grid
• 2005-05-15 Listed $19,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2024): $1,418 · -0.3% YoY. Source: county tax records.