304 Main Street St

Rising Sun, IN 47040

$79,900B-

4 bd · 1.5 ba · 2,160 sqft · Built 1877 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,316/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$155
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $466/mo
• Annual: $5,594/yr
• Cap rate: 13.29%
• Cash-on-cash: 25.01%
• DSCR: 2.11
• 1% rule: 1.65%
• Cash to close: $22,372

Investor read

• This is a 4-bed/1.5-bath single-family listed at $80k.
• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#345 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment D+, amenities F, commute D-.
• Rising Sun-Ohio County Com (rural): math 24% / reading 38% proficiency, ranked #225 of 301 in IN (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ohio County Elementary School (math 27% / reading 27%, grade F, #737 of 994 statewide, top 76%, 409 students, 49% FRL); Rising Sun High School (math 34% / reading 64%, grade D, #123 of 369 statewide, top 36%, 226 students, 35% FRL).
• Watch-outs: built in 1877 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 31 active listings in the ZIP; 6 units permitted in Ohio County in 2024 (0 in 5+ unit buildings).
• Ohio County population projected at -30% 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 $22k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1877 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.