400 E Main St · Crothersville, IN 47229

$55,000

2 bd · 1.0 ba · 1,069 sqft · SingleFamily public records · 46 Days on market

Built 1898 10,824 sqft lot $51/sqft · 64% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This single-family residence, established in 1898, is situated at 400 E Main Street. Crothersville, IN, on a corner lot, and presents a great investment opportunity for those with vision. This property offers a compelling prospect for individuals eager to enhance its inherent charm and value. The kitchen, features elegant shaker cabinets complemented by refined crown molding, providing a foundation for culinary creativity and comfortable daily living. Among the three bedrooms, one offers the sophisticated detail of crown molding, contributing to a refined atmosphere ideal for rest and relaxation. Outside, a welcoming porch invites moments of quiet contemplation, while a spacious deck provides an ideal setting for outdoor enjoyment and entertaining. These exterior spaces extend the living possibilities of the residence. The single-story layout encompasses 1069 square feet of living area, thoughtfully arranged to offer comfortable accommodation with three bedrooms and one full bathroom. The generous 10824 square feet lot area provides ample outdoor space, enhancing the overall appeal of the property. Close to all the amenities of Crothersville - many within walking distance. This single-family residence, with its promising features, awaits an owner ready to unlock its full potential and create a truly exceptional living experience. The property offers convenient access to US 31 and I-65. Property is being sold 'as is'. Possession at closing. Lots and lots of potential!!

Key facts

• Ample outdoor space
• Spacious deck
• Crown molding

Tags

• CORNER LOT
• ELEGANT SHAKER CABINETS
• CROWN MOLDING
• WELCOMING PORCH
• SPACIOUS DECK
• AMPLE OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $373 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($987 rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#350 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety D, schools F.
• Crothersville Community Schools (rural): math 14% / reading 27% proficiency, ranked #273 of 301 in IN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 23 active listings in the ZIP; 101 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Jackson County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $55k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.79% ✓
• Cap rate: 14.44%
• Cash-on-cash: 29.10%
• DSCR: 2.29
• GRM: 4.6

CMA / ARV

• ARV (median comp): $152,006
• List price: $55,000
• Delta: -63.82%
• 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
216 S Preston St	0.08mi	3/2.0 (+1)	1,050 (-2%)	2mo	$165,000	$157	82
248 S Preston St	0.09mi	3/2.0 (+1)	1,100 (+3%)	3mo	$164,000	$149	80
211 N Armstrong St	0.22mi	3/1.0 (+1)	1,103 (+3%)	3mo	$145,000	$131	77
208 Vine St	0.13mi	2/1.0	1,193 (+12%)	7mo	$37,000	$31	69
303 E Main St	0.06mi	3/1.0 (+1)	936 (-12%)	6mo	$129,900	$139	66
202 E Walnut St	0.34mi	3/2.0 (+1)	1,016 (-5%)	3mo	$159,900	$157	65
401 N Armstrong St	0.35mi	3/1.0 (+1)	1,000 (-6%)	9mo	$158,000	$158	61
132 Vine St	0.21mi	3/1.5 (+1)	1,216 (+14%)	1mo	$146,360	$120	60
202 W Bard St	0.42mi	3/2.0 (+1)	1,100 (+3%)	10mo	$159,900	$145	58
204 West St	0.28mi	3/1.0 (+1)	1,188 (+11%)	9mo	$179,000	$151	56
312 N Vine St	0.24mi	3/2.0 (+1)	1,200 (+12%)	10mo	$191,900	$160	51
150 N East St	0.43mi	3/1.0 (+1)	1,208 (+13%)	6mo	$188,000	$156	48

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: 23.5%
• Equity multiple: 1.97×
• Total profit: $14,901
• Equity at exit: $8,201

10-year hold

• IRR: 31.4%
• Equity multiple: 3.84×
• Total profit: $43,724
• Equity at exit: $4,755

Cash invested: $15,400 (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 47229

• Home prices YoY: -29.5%
• Active inventory: 23
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $987 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$95 /mo · $1,137/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $373

Break-even live

Break-even rent $514

Max offer price $55,000

Occupancy floor 57%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-03
   status $55,000 Pending 46 DOM
2. 2026-06-02
   days on market $55,000 Active 46 DOM
3. 2026-06-01
   days on market $55,000 Active 45 DOM
4. 2026-05-31
   days on market $55,000 Active 44 DOM
5. 2026-05-30
   days on market $55,000 Active 43 DOM
6. 2026-04-17
   listed $62,500 Active 1500-char remark

   Show marketing remark (1500 chars)

   This single-family residence, established in 1898, is situated at 400 E Main Street. Crothersville, IN, on a corner lot, and presents a great investment opportunity for those with vision. This property offers a compelling prospect for individuals eager to enhance its inherent charm and value. The kitchen, features elegant shaker cabinets complemented by refined crown molding, providing a foundation for culinary creativity and comfortable daily living. Among the three bedrooms, one offers the sophisticated detail of crown molding, contributing to a refined atmosphere ideal for rest and relaxation. Outside, a welcoming porch invites moments of quiet contemplation, while a spacious deck provides an ideal setting for outdoor enjoyment and entertaining. These exterior spaces extend the living possibilities of the residence. The single-story layout encompasses 1069 square feet of living area, thoughtfully arranged to offer comfortable accommodation with three bedrooms and one full bathroom. The generous 10824 square feet lot area provides ample outdoor space, enhancing the overall appeal of the property. Close to all the amenities of Crothersville - many within walking distance. This single-family residence, with its promising features, awaits an owner ready to unlock its full potential and create a truly exceptional living experience. The property offers convenient access to US 31 and I-65. Property is being sold 'as is'. Possession at closing. Lots and lots of potential!!

7. 2012-03-08
   soldstatus $35,000

ⓘ 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: $1,137 · $95/mo
• Projected year-2 tax: $1,137 · $95/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 5/10 Major 7 d/yr ≥104°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,840
• − Mortgage interest: −$3,081
• − Property taxes: −$1,137
• − Insurance: −$275
• − Repairs & maintenance: −$947
• − Management: −$947
• − Depreciation: −$1,600
• Taxable income: $3,853
• Est. tax owed @ 24.0%: −$925
• After-tax cash flow: $3,556/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: Crothersville Community Schools
• NCES district ID: 1812060
• Math proficiency: 14% ▼ -11.00%
• Reading proficiency: 27% ▼ -8.00%
• Median HH income: $42,335
• Composite: 17.55/100
• National rank: #9045
• State rank: #273 of 301 in IN

Livability — Crothersville

• Score: 65/100
• State rank: #350
• US rank: #13406

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crothersville, IN
• Population (ZIP): 2,971

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 46,376 people
• By 2030: 47,344 · +2.1%
• By 2040: 48,936 · +5.5%
• By 2050: 49,738 · +7.2%
• By 2075: 50,435 · +8.8%
• By 2100: 46,321 · -0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Other Asian/Pacific 2% Spanish 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+55.3) · D 21.5% · R 76.8% · Other 1.7%
• 2008→2024 swing: -41.6pp toward R · 2008: -13.7pp · 2024: -55.3pp
• All cycles: 2024: R+55.3 2020: R+53.3 2016: R+51.4 2012: R+27.4 2008: R+13.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.05%
• Current HPI: 226.6975
• 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

+78.6% since first listed

2 events — show timeline

• 2026-04-17 Listed $62,500 MIBOR as Distributed by MLS Grid
• 2012-03-08 Sold (Public Records) $35,000 Public Records