1202 N Sheridan Rd · Marion, IN 46952

$148,000

3 bd · 1.5 ba · 1,536 sqft · SingleFamily public records · 93 Days on market

Built 1957 0.35 ac lot $96/sqft · 22% below area Est $190k · 22% 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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +4.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW! Do you love midcentury modern style? This is the home for you! This adorable ranch has it all! Dining room with built-in's for showing off your favorite antique dishes with large picture window overlooking the back yard. Oversized living room with wood burning fireplace. Kitchen has the retro inspired feel with built in cooktop and breakfast area. Down the wide hallway you will find 2 bedrooms with loads of closet space and one bedroom with large built in and desk area for the crafter/at home worker. The bathroom still has that vintage inspired feel but with a new shower installed, check out the bathroom sink! This home has been well taken care of and pride of ownership shows. Attached 2 car garage with patio area behind.

Key facts

• Built in cooktop
• New shower
• Large picture window

Tags

• BUILT IN COOKTOP
• BREAKFAST AREA
• WOOD BURNING FIREPLACE
• LARGE PICTURE WINDOW
• NEW SHOWER
• PATIO AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (2.0% below list).
• Recommended offer: $135k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#337 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Marion Community Schools (town): math 18% / reading 24% proficiency, ranked #277 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 126 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).
• This rent runs 33% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $17k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,680 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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 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?
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: 0.98% ✗
• Cap rate: 7.89%
• Cash-on-cash: 5.70%
• DSCR: 1.25
• GRM: 8.5

CMA / ARV

• ARV (median comp): $189,711
• List price: $148,000
• Delta: -21.99%
• 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
1318 N Wabash Ave	0.12mi	3/2.0	1,424 (-7%)	4mo	$215,000	$151	76
1515 N Wabash Ave	0.41mi	3/2.0	1,518 (-1%)	1mo	$225,000	$148	76
1022 N Lincolnshire Blvd	0.50mi	3/1.5	1,512 (-2%)	2mo	$150,000	$99	72
1461 N Manor Dr	0.24mi	3/2.0	1,661 (+8%)	2mo	$142,500	$86	72
1705 W Saxon Dr	0.41mi	3/2.5	1,480 (-4%)	1mo	$210,000	$142	70
820 N Oxford Dr	0.55mi	3/1.0	1,492 (-3%)	2mo	$155,000	$104	65
805 N Knight Cir	0.65mi	3/2.0	1,552 (+1%)	4mo	$185,000	$119	63
1313 W Roberts Ave	0.28mi	3/1.5	1,760 (+15%)	3mo	$195,000	$111	60
1101 W Riga Ave	0.64mi	3/2.0	1,606 (+5%)	2mo	$168,500	$105	59
1013 N Lincolnshire Blvd	0.53mi	3/1.0	1,368 (-11%)	2mo	$155,000	$113	53
906 N Hawthorne Rd	0.69mi	3/1.5	1,673 (+9%)	1mo	$199,900	$119	52
1812 W Riga Ave	0.58mi	3/1.5	1,755 (+14%)	4mo	$191,000	$109	45

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: -7.5%
• Equity multiple: 0.72×
• Total profit: $-11,462
• Equity at exit: $22,067

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $6,075
• Equity at exit: $12,796

Cash invested: $41,440 (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 46952

• Home prices YoY: -29.9%
• Active inventory: 126
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$776
• Tax from tax record: −$111 /mo · $1,329/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $197

Break-even live

Break-even rent $1,201

Max offer price $148,000

Occupancy floor 81%

Sensitivity live

Price	-10% $281	-5% $239	+0% $197	+5% $155	+10% $113
Rent	-10% $82	-5% $140	+0% $197	+5% $254	+10% $312
Rate	-1.0pp $271	-0.5pp $235	base $197	+0.5pp $159	+1.0pp $120

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 W Buckingham Dr Marion, IN	3.0	2.0	1942	$2,000	$1.03	45d	1	0.70mi
2111 W Frederick Dr Marion, IN	1.0–2.0	1.0–1.5	965	$937	$0.97	45d	4	0.95mi
2145 W 2nd St Marion, IN	3.0	1.5	1377	$1,650	$1.20	45d	1	1.50mi

Listing history 24 events

1. 2026-06-21
   days on market $148,000 Active 93 DOM
2. 2026-06-19
   days on market $148,000 Active 91 DOM
3. 2026-06-18
   days on market $148,000 Active 90 DOM
4. 2026-06-17
   days on market $148,000 Active 89 DOM
5. 2026-06-16
   days on market $148,000 Active 88 DOM
6. 2026-06-15
   days on market $148,000 Active 87 DOM
7. 2026-06-14
   days on market $148,000 Active 85 DOM
8. 2026-06-13
   price $148,000 Active 84 DOM
9. 2026-06-12
   days on market $150,000 Active 84 DOM
10. 2026-06-09
    days on market $150,000 Active 81 DOM
11. 2026-06-08
    days on market $150,000 Active 80 DOM
12. 2026-06-07
    days on market $150,000 Active 79 DOM
13. 2026-06-02
    days on market $150,000 Active 74 DOM
14. 2026-06-01
    days on market $150,000 Active 73 DOM
15. 2026-05-31
    days on market $150,000 Active 72 DOM
16. 2026-05-30
    days on market $150,000 Active 71 DOM
17. 2026-05-14
    price $150,000 736-char remark

    Show marketing remark (736 chars)

    WOW! Do you love midcentury modern style? This is the home for you! This adorable ranch has it all! Dining room with built-in's for showing off your favorite antique dishes with large picture window overlooking the back yard. Oversized living room with wood burning fireplace. Kitchen has the retro inspired feel with built in cooktop and breakfast area. Down the wide hallway you will find 2 bedrooms with loads of closet space and one bedroom with large built in and desk area for the crafter/at home worker. The bathroom still has that vintage inspired feel but with a new shower installed, check out the bathroom sink! This home has been well taken care of and pride of ownership shows. Attached 2 car garage with patio area behind.

18. 2026-04-28
    price $152,000 736-char remark

    Show marketing remark (736 chars)

    WOW! Do you love midcentury modern style? This is the home for you! This adorable ranch has it all! Dining room with built-in's for showing off your favorite antique dishes with large picture window overlooking the back yard. Oversized living room with wood burning fireplace. Kitchen has the retro inspired feel with built in cooktop and breakfast area. Down the wide hallway you will find 2 bedrooms with loads of closet space and one bedroom with large built in and desk area for the crafter/at home worker. The bathroom still has that vintage inspired feel but with a new shower installed, check out the bathroom sink! This home has been well taken care of and pride of ownership shows. Attached 2 car garage with patio area behind.

19. 2026-04-13
    price $155,000 736-char remark

    Show marketing remark (736 chars)

    WOW! Do you love midcentury modern style? This is the home for you! This adorable ranch has it all! Dining room with built-in's for showing off your favorite antique dishes with large picture window overlooking the back yard. Oversized living room with wood burning fireplace. Kitchen has the retro inspired feel with built in cooktop and breakfast area. Down the wide hallway you will find 2 bedrooms with loads of closet space and one bedroom with large built in and desk area for the crafter/at home worker. The bathroom still has that vintage inspired feel but with a new shower installed, check out the bathroom sink! This home has been well taken care of and pride of ownership shows. Attached 2 car garage with patio area behind.

20. 2026-03-25
    price $160,000 736-char remark

    Show marketing remark (736 chars)

    WOW! Do you love midcentury modern style? This is the home for you! This adorable ranch has it all! Dining room with built-in's for showing off your favorite antique dishes with large picture window overlooking the back yard. Oversized living room with wood burning fireplace. Kitchen has the retro inspired feel with built in cooktop and breakfast area. Down the wide hallway you will find 2 bedrooms with loads of closet space and one bedroom with large built in and desk area for the crafter/at home worker. The bathroom still has that vintage inspired feel but with a new shower installed, check out the bathroom sink! This home has been well taken care of and pride of ownership shows. Attached 2 car garage with patio area behind.

21. 2026-03-19
    listed $165,000 Active 736-char remark

    Show marketing remark (736 chars)

    WOW! Do you love midcentury modern style? This is the home for you! This adorable ranch has it all! Dining room with built-in's for showing off your favorite antique dishes with large picture window overlooking the back yard. Oversized living room with wood burning fireplace. Kitchen has the retro inspired feel with built in cooktop and breakfast area. Down the wide hallway you will find 2 bedrooms with loads of closet space and one bedroom with large built in and desk area for the crafter/at home worker. The bathroom still has that vintage inspired feel but with a new shower installed, check out the bathroom sink! This home has been well taken care of and pride of ownership shows. Attached 2 car garage with patio area behind.

22. 2025-06-30
    soldstatus $140,000 Closed 217-char remark

    Show marketing remark (217 chars)

    Two bedroom, one & half bath home, featuring an attached garage, lots of storage and nice, large yard. All original woodwork with lots of built-ins. Home is conveniently located to grocery store and restaurants.

23. 2025-06-05
    status Pending 217-char remark

    Show marketing remark (217 chars)

    Two bedroom, one & half bath home, featuring an attached garage, lots of storage and nice, large yard. All original woodwork with lots of built-ins. Home is conveniently located to grocery store and restaurants.

24. 2025-05-28
    listed $140,000 Active 217-char remark

    Show marketing remark (217 chars)

    Two bedroom, one & half bath home, featuring an attached garage, lots of storage and nice, large yard. All original woodwork with lots of built-ins. Home is conveniently located to grocery store and restaurants.

ⓘ 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: $1,329 · $111/mo
• Projected year-2 tax: $1,329 · $111/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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,400
• − Mortgage interest: −$8,290
• − Property taxes: −$1,329
• − Insurance: −$740
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$4,305
• Taxable loss: −$49
• Est. tax savings @ 24.0%: +$12
• After-tax cash flow: $2,375/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: Marion Community Schools
• NCES district ID: 1806390
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $33,415
• Composite: 17.13/100
• National rank: #9115
• State rank: #277 of 301 in IN

Livability — Marion

• Score: 65/100
• State rank: #337
• US rank: #13006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IN
• County: Grant County · 41,561 people
• City population: 41,561
• Metro: Marion, IN
• Population (ZIP): 18,189
• Household income: $52,880
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 662.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.69%
• Current HPI: 180.1174
• Rent YoY: —
• Metro: Marion, 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

+7.1% since first listed

8 events — show timeline

• 2026-05-14 Price Changed $150,000 IRMLS
• 2026-04-28 Price Changed $152,000 IRMLS
• 2026-04-13 Price Changed $155,000 IRMLS
• 2026-03-25 Price Changed $160,000 IRMLS
• 2026-03-19 Listed $165,000 IRMLS
• 2025-06-30 Sold (MLS) $140,000 IRMLS
• 2025-06-05 Pending — IRMLS
• 2025-05-28 Listed $140,000 IRMLS

Property tax history

-6.3%/yr

Latest (2025): $1,329 · +256.6% YoY. Source: county tax records.