107 1st St · Shelbyville, IN 46176

$150,000

3 bd · 1.0 ba · 1,888 sqft · SingleFamily public records · 64 Days on market

Built 1900 6,700 sqft lot $79/sqft · 6% above area Est $186k · 19% under

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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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Immediate occupancy for this large traditional style home located within walking distance to downtown, Aquatic center, close to schools, Girls, Inc. / Boys Club. Main level offers a large living room, formal dining room, eat-in kitchen, laundry room and primary bedroom. Upper level offers two bedrooms plus a large walk-in attic that could be finished for a 2nd bathroom, bedroom or bonus room. The above ground pool will remain. Spacious fenced yard for the kiddos to run and play or if you have a pet to roam around. Guys will definitely like the large two car detached garage plus additional off street parking. Bring your vision and all of your "DIY" ideas to transform this home exactly the way you would like. Roof on home and garage: 2018, Central air: 2011, Furnace and Windows: 2002. Cosmetic work needed and a bit of TLC.

Key facts

• Spacious fenced yard
• Large walk-in attic
• Above ground pool

Tags

• WALKING DISTANCE TO DOWNTOWN
• LARGE WALK-IN ATTIC
• ABOVE GROUND POOL
• SPACIOUS FENCED YARD
• LARGE TWO CAR DETACHED GARAGE
• ADDITIONAL OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.3% in Shelbyville — 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 63/100 on livability (#450 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, schools D+, amenities F.
• Shelbyville Central Schools (town): math 40% / reading 39% proficiency, ranked #148 of 301 in IN (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 229 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 285 units permitted in Shelby County in 2024 (147 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Shelby County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $101k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 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 1900 — 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 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?
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: 1.08% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.96%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (median comp): $186,325
• List price: $150,000
• Delta: -14.13%
• 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
243 W Locust St	0.29mi	2/1.0 (-1)	1,908 (+1%)	1mo	$155,000	$81	79
1051 Meridian St	0.27mi	2/1.0 (-1)	1,840 (-2%)	4mo	$137,000	$74	75
410 Howard St	0.30mi	3/1.0	1,970 (+4%)	5mo	$195,000	$99	75
265 W South St	0.38mi	3/1.5	1,811 (-4%)	6mo	$65,000	$36	69
606 Howard St	0.55mi	3/2.0	1,944 (+3%)	1mo	$187,000	$96	65
416 2nd St	0.25mi	3/1.0	2,080 (+10%)	9mo	$157,500	$76	64
1237 Elm St	0.28mi	2/1.0 (-1)	1,744 (-8%)	8mo	$158,000	$91	63
607 4th St	0.45mi	2/1.0 (-1)	1,768 (-6%)	2mo	$195,000	$110	62
1007 S Miller St	0.46mi	3/1.0	2,075 (+10%)	0mo	$190,000	$92	62
525 Third St	0.37mi	2/1.5 (-1)	1,732 (-8%)	5mo	$161,000	$93	58
1101 S Shelby St	0.43mi	2/1.0 (-1)	1,728 (-8%)	6mo	$133,000	$77	56
1505 S Harrison St	0.36mi	4/2.0 (+1)	2,128 (+13%)	5mo	$232,500	$109	49

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-8,774
• Equity at exit: $22,365

10-year hold

• IRR: 4.1%
• Equity multiple: 1.30×
• Total profit: $12,427
• Equity at exit: $12,969

Cash invested: $42,000 (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 46176

• Home prices YoY: -33.9%
• Active inventory: 229
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,620 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $243

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 80%

Sensitivity live

Price	-10% $347	-5% $295	+0% $243	+5% $192	+10% $140
Rent	-10% $115	-5% $179	+0% $243	+5% $307	+10% $371
Rate	-1.0pp $319	-0.5pp $282	base $243	+0.5pp $205	+1.0pp $165

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1021 Amos Rd Shelbyville, IN	3.0	1.5	1476	$1,635	$1.11	8d	1	0.78mi
425 N Harrison St Shelbyville, IN	3.0	1.0–2.0	909	$1,882	$2.07	2d	7	0.82mi
809 Indiana Ave Unit 809 Shelbyville, IN	2.0	2.0	1456	$850	$0.58	11d	1	0.88mi
1008 Balto Dr Shelbyville, IN	3.0	2.5	1942	$1,900	$0.98	2d	1	1.19mi

Listing history 26 events

1. 2026-06-18
   price $150,000 Active 64 DOM
2. 2026-06-18
   days on market $160,000 Active 64 DOM
3. 2026-06-17
   days on market $160,000 Active 63 DOM
4. 2026-06-16
   days on market $160,000 Active 62 DOM
5. 2026-06-15
   days on market $160,000 Active 61 DOM
6. 2026-06-13
   days on market $160,000 Active 59 DOM
7. 2026-06-13
   days on market $160,000 Active 58 DOM
8. 2026-06-09
   days on market $160,000 Active 55 DOM
9. 2026-06-08
   days on market $160,000 Active 54 DOM
10. 2026-06-07
    days on market $160,000 Active 53 DOM
11. 2026-06-03
    days on market $160,000 Active 49 DOM
12. 2026-06-02
    days on market $160,000 Active 48 DOM
13. 2026-06-01
    days on market $160,000 Active 47 DOM
14. 2026-05-31
    days on market $160,000 Active 46 DOM
15. 2026-05-06
    price $168,000 844-char remark

    Show marketing remark (844 chars)

    Immediate occupancy for this large traditional style home located within walking distance to downtown, Aquatic center, close to schools, Girls, Inc. / Boys Club. Main level offers a large living room, formal dining room, eat-in kitchen, laundry room and primary bedroom. Upper level offers two bedrooms plus a large walk-in attic that could be finished for a 2nd bathroom, bedroom or bonus room. The above ground pool will remain. Spacious fenced yard for the kiddos to run and play or if you have a pet to roam around. Guys will definitely like the large two car detached garage plus additional off street parking. Bring your vision and all of your "DIY" ideas to transform this home exactly the way you would like. Roof on home and garage: 2018, Central air: 2011, Furnace and Windows: 2002. Cosmetic work needed and a bit of TLC.

16. 2026-04-27
    price $175,000 844-char remark

    Show marketing remark (844 chars)

    Immediate occupancy for this large traditional style home located within walking distance to downtown, Aquatic center, close to schools, Girls, Inc. / Boys Club. Main level offers a large living room, formal dining room, eat-in kitchen, laundry room and primary bedroom. Upper level offers two bedrooms plus a large walk-in attic that could be finished for a 2nd bathroom, bedroom or bonus room. The above ground pool will remain. Spacious fenced yard for the kiddos to run and play or if you have a pet to roam around. Guys will definitely like the large two car detached garage plus additional off street parking. Bring your vision and all of your "DIY" ideas to transform this home exactly the way you would like. Roof on home and garage: 2018, Central air: 2011, Furnace and Windows: 2002. Cosmetic work needed and a bit of TLC.

17. 2026-04-14
    listed $180,000 Active 844-char remark

    Show marketing remark (844 chars)

    Immediate occupancy for this large traditional style home located within walking distance to downtown, Aquatic center, close to schools, Girls, Inc. / Boys Club. Main level offers a large living room, formal dining room, eat-in kitchen, laundry room and primary bedroom. Upper level offers two bedrooms plus a large walk-in attic that could be finished for a 2nd bathroom, bedroom or bonus room. The above ground pool will remain. Spacious fenced yard for the kiddos to run and play or if you have a pet to roam around. Guys will definitely like the large two car detached garage plus additional off street parking. Bring your vision and all of your "DIY" ideas to transform this home exactly the way you would like. Roof on home and garage: 2018, Central air: 2011, Furnace and Windows: 2002. Cosmetic work needed and a bit of TLC.

18. 2018-06-12
    soldstatus $101,000 Sold 460-char remark

    Show marketing remark (460 chars)

    Spacious 3 bedroom home w/lots of curb appeal. 1 bdrm on main, 2 bdrms up w/nice size closets. Huge walk in unfinished attic for xtra storage, finish for 4th bed or add 2nd bath. Stove, refrig, newer dishwasher, central vac & alarm included. Nice size 2 car detach gar.w/opener. Goodman C/A & gas range 2011, 200amp service, furnace & windows all replaced since 2002, new sewer clean out added in 2014, and new roof on house and garage in May 2018,

19. 2018-05-04
    listed $100,000 Active 460-char remark

    Show marketing remark (460 chars)

    Spacious 3 bedroom home w/lots of curb appeal. 1 bdrm on main, 2 bdrms up w/nice size closets. Huge walk in unfinished attic for xtra storage, finish for 4th bed or add 2nd bath. Stove, refrig, newer dishwasher, central vac & alarm included. Nice size 2 car detach gar.w/opener. Goodman C/A & gas range 2011, 200amp service, furnace & windows all replaced since 2002, new sewer clean out added in 2014, and new roof on house and garage in May 2018,

20. 2018-05-04
    status Pending 460-char remark

    Show marketing remark (460 chars)

    Spacious 3 bedroom home w/lots of curb appeal. 1 bdrm on main, 2 bdrms up w/nice size closets. Huge walk in unfinished attic for xtra storage, finish for 4th bed or add 2nd bath. Stove, refrig, newer dishwasher, central vac & alarm included. Nice size 2 car detach gar.w/opener. Goodman C/A & gas range 2011, 200amp service, furnace & windows all replaced since 2002, new sewer clean out added in 2014, and new roof on house and garage in May 2018,

21. 2016-12-29
    historical
22. 2016-09-04
    listed $79,900 Active
23. 2012-08-07
    soldstatus $70,000
24. 2012-07-31
    historical
25. 2012-07-30
    soldstatus $70,000
26. 2012-06-16
    listed $79,900

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 17% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 20 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: $19,445
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − Depreciation: −$4,364
• Taxable income: $567
• Est. tax owed @ 24.0%: −$136
• After-tax cash flow: $2,786/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: Shelbyville Central Schools
• NCES district ID: 1810140
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 39% ▼ -9.00%
• Median HH income: $45,199
• Composite: 33.63/100
• National rank: #5402
• State rank: #148 of 301 in IN

Livability — Shelbyville

• Score: 63/100
• State rank: #450
• US rank: #16051

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelbyville, IN
• County: Shelby County · 28,782 people
• City population: 28,782
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 28,782
• Household income: $65,182
• Rent vs Own: 35.6% rent · 64.4% own
• Severe rent burden: 921.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 45,020 people
• By 2030: 44,962 · -0.1%
• By 2040: 44,126 · -2.0%
• By 2050: 42,110 · -6.5%
• By 2075: 37,131 · -17.5%
• By 2100: 29,714 · -34.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+48.0) · D 25.1% · R 73.1% · Other 1.8%
• 2008→2024 swing: -29.0pp toward R · 2008: -19.0pp · 2024: -48.0pp
• All cycles: 2024: R+48.0 2020: R+47.7 2016: R+47.2 2012: R+33.5 2008: R+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.59%
• Current HPI: 227.6747
• Rent YoY: —
• Metro: Indianapolis-Carmel-Anderson, 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

+110.3% since first listed

12 events — show timeline

• 2026-05-06 Price Changed $168,000 MIBOR as Distributed by MLS Grid
• 2026-04-27 Price Changed $175,000 MIBOR as Distributed by MLS Grid
• 2026-04-14 Listed $180,000 MIBOR as Distributed by MLS Grid
• 2018-06-12 Sold (MLS) $101,000 MIBOR as Distributed by MLS Grid
• 2018-05-04 Listed $100,000 MIBOR as Distributed by MLS Grid
• 2018-05-04 Pending — MIBOR as Distributed by MLS Grid
• 2016-12-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2016-09-04 Listed $79,900 MIBOR as Distributed by MLS Grid
• 2012-08-07 Sold (Public Records) $70,000 Public Records
• 2012-07-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-07-30 Sold (MLS) $70,000 MIBOR as Distributed by MLS Grid
• 2012-06-16 Listed $79,900 MIBOR as Distributed by MLS Grid

Property tax history

-21.3%/yr

Latest (2025): $36 · -96.8% YoY. Source: county tax records.