607 N Portland St · Ridgeville, IN 47380

$82,000

2 bd · 1.0 ba · 1,148 sqft · SingleFamily public records · 190 Days on market

Built 1900 9,583 sqft lot Est $150k · 45% under ↓ 25% since listing

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Why this score? — see what drove the A- 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 +28.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.9/10.0
• 1% rule +7.0/10.0
• Livability +3.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Come see this newly remodeled 2 bedroom, 1 bathroom home in Ridgeville. Updates include new flooring, updated kitchen, and fresh paint. Features a gas furnace, storage shed, and walk-up attic space that could be used for additional storage or potential living space.

Key facts

• Gas furnace
• Fresh paint
• New flooring

Tags

• NEW FLOORING
• UPDATED KITCHEN
• FRESH PAINT
• GAS FURNACE
• STORAGE SHED
• WALK-UP ATTIC SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($986 rent vs $82k).
• Recommended offer: $72k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#548 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime D, health & safety D, amenities F.
• Randolph Central School Corporation (town): math 32% / reading 37% proficiency, ranked #201 of 301 in IN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Deerfield Elementary School (math 52% / reading 47%, grade D, #279 of 994 statewide, top 30%, 154 students, 65% FRL); Lee L Driver Middle School (math 27% / reading 33%, grade F, #208 of 330 statewide, top 64%, 291 students, 56% FRL); Winchester Community High School (math 17% / reading 47%, grade F, #295 of 369 statewide, top 82%, 414 students, 47% FRL).
• Market conditions: 7 active listings in the ZIP; 19 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($567 loan paydown + $8k appreciation (10.0% local appreciation)).
• Randolph County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 190 days — a 12% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $28k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $72,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 190 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 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. 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?
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: 1.20% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.31%
• DSCR: 1.59
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $150,388
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 E Fourth St	0.23mi	2/1.0	1,122 (-2%)	14mo	$135,000	$120	74
108 S George St	0.41mi	2/1.0	1,020 (-11%)	20mo	$85,000	$83	45
315 Elm St	0.39mi	3/1.0 (+1)	984 (-14%)	14mo	$129,000	$131	41
315 Elm St	0.39mi	3/1.0 (+1)	984 (-14%)	14mo	$129,000	$131	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.1%
• Equity multiple: 3.65×
• Total profit: $60,867
• Equity at exit: $73,872

10-year hold

• IRR: 29.4%
• Equity multiple: 8.25×
• Total profit: $166,467
• Equity at exit: $159,308

Cash invested: $22,960 (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 47380

• Home prices YoY: 4.7%
• Active inventory: 7
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $986 medium
• Mortgage (P&I): −$430
• Tax from tax record: −$60 /mo · $724/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $255

Break-even live

Break-even rent $664

Max offer price $82,000

Occupancy floor 69%

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-03-25
   status Pending 266-char remark

   Show marketing remark (266 chars)

   Come see this newly remodeled 2 bedroom, 1 bathroom home in Ridgeville. Updates include new flooring, updated kitchen, and fresh paint. Features a gas furnace, storage shed, and walk-up attic space that could be used for additional storage or potential living space.

2. 2026-03-25
   status Pending

   Show marketing remark (266 chars)

   Come see this newly remodeled 2 bedroom, 1 bathroom home in Ridgeville. Updates include new flooring, updated kitchen, and fresh paint. Features a gas furnace, storage shed, and walk-up attic space that could be used for additional storage or potential living space.

3. 2026-03-11
   price $82,000 266-char remark

   Show marketing remark (266 chars)

   Come see this newly remodeled 2 bedroom, 1 bathroom home in Ridgeville. Updates include new flooring, updated kitchen, and fresh paint. Features a gas furnace, storage shed, and walk-up attic space that could be used for additional storage or potential living space.

4. 2026-03-11
   price $82,000

   Show marketing remark (266 chars)

   Come see this newly remodeled 2 bedroom, 1 bathroom home in Ridgeville. Updates include new flooring, updated kitchen, and fresh paint. Features a gas furnace, storage shed, and walk-up attic space that could be used for additional storage or potential living space.

5. 2026-01-15
   price $89,900 266-char remark

   Show marketing remark (266 chars)

   Come see this newly remodeled 2 bedroom, 1 bathroom home in Ridgeville. Updates include new flooring, updated kitchen, and fresh paint. Features a gas furnace, storage shed, and walk-up attic space that could be used for additional storage or potential living space.

6. 2026-01-15
   price $89,900

   Show marketing remark (266 chars)

   Come see this newly remodeled 2 bedroom, 1 bathroom home in Ridgeville. Updates include new flooring, updated kitchen, and fresh paint. Features a gas furnace, storage shed, and walk-up attic space that could be used for additional storage or potential living space.

7. 2025-10-31
   price $99,900 266-char remark

   Show marketing remark (266 chars)

   Come see this newly remodeled 2 bedroom, 1 bathroom home in Ridgeville. Updates include new flooring, updated kitchen, and fresh paint. Features a gas furnace, storage shed, and walk-up attic space that could be used for additional storage or potential living space.

8. 2025-10-31
   price $99,900

   Show marketing remark (266 chars)

   Come see this newly remodeled 2 bedroom, 1 bathroom home in Ridgeville. Updates include new flooring, updated kitchen, and fresh paint. Features a gas furnace, storage shed, and walk-up attic space that could be used for additional storage or potential living space.

9. 2025-09-16
   listed $109,900 Active 266-char remark

   Show marketing remark (266 chars)

   Come see this newly remodeled 2 bedroom, 1 bathroom home in Ridgeville. Updates include new flooring, updated kitchen, and fresh paint. Features a gas furnace, storage shed, and walk-up attic space that could be used for additional storage or potential living space.

10. 2025-09-16
    listed $109,900 Active

    Show marketing remark (266 chars)

    Come see this newly remodeled 2 bedroom, 1 bathroom home in Ridgeville. Updates include new flooring, updated kitchen, and fresh paint. Features a gas furnace, storage shed, and walk-up attic space that could be used for additional storage or potential living space.

ⓘ 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: $724 · $60/mo
• Projected year-2 tax: $724 · $60/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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,835
• − Mortgage interest: −$4,593
• − Property taxes: −$724
• − Insurance: −$410
• − Repairs & maintenance: −$947
• − Management: −$947
• − Depreciation: −$2,385
• Taxable income: $1,829
• Est. tax owed @ 24.0%: −$439
• After-tax cash flow: $2,617/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: Randolph Central School Corporation
• NCES district ID: 1801770
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $41,627
• Composite: 29.12/100
• National rank: #6589
• State rank: #201 of 301 in IN

Livability — Ridgeville

• Score: 59/100
• State rank: #548
• US rank: #19629

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ridgeville, IN
• Population (ZIP): 1,537

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 22,998 people
• By 2030: 21,815 · -5.1%
• By 2040: 19,360 · -15.8%
• By 2050: 17,010 · -26.0%
• By 2075: 12,491 · -45.7%
• By 2100: 8,986 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Portuguese 1% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+53.7) · D 22.3% · R 75.9% · Other 1.8%
• 2008→2024 swing: -44.9pp toward R · 2008: -8.8pp · 2024: -53.7pp
• All cycles: 2024: R+53.7 2020: R+52.4 2016: R+48.5 2012: R+24.1 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.20%
• Current HPI: 269.4161
• 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

-25.4% since first listed

10 events — show timeline

• 2026-03-25 Pending — RRELMS
• 2026-03-25 Pending — IRMLS
• 2026-03-11 Price Changed $82,000 RRELMS
• 2026-03-11 Price Changed $82,000 IRMLS
• 2026-01-15 Price Changed $89,900 RRELMS
• 2026-01-15 Price Changed $89,900 IRMLS
• 2025-10-31 Price Changed $99,900 RRELMS
• 2025-10-31 Price Changed $99,900 IRMLS
• 2025-09-16 Listed $109,900 RRELMS
• 2025-09-16 Listed $109,900 IRMLS

Property tax history

+3.6%/yr

Latest (2024): $724 · +26.6% YoY. Source: county tax records.