5500 Ky Highway 1992 · Patriot, IN 41095

$60,000

3 bd · 2.0 ba · 1,755 sqft · SingleFamily public records · 23 Days on market

Built 2003 1.00 ac lot

---

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
• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

This home offers a great opportunity for an investor, flipper, or buyer looking for a renovation project near the Ohio River. This 3-bedroom, 2 full bath home sits on approximately 1 acre and is in need of a full rehab. The property is being sold as-is and very close to Hartig Park & Wildlife Reserve, a 500+ acre recreational area featuring wooded trails, wildlife habitat, and outdoor recreation near the Ohio River. Offering a private setting with wooded surroundings and convenient access to outdoor recreation. Located just minutes from the river, this property could serve as a primary residence, weekend getaway, or investment opportunity. Schedule your showing today!

Key facts

• Wooded surroundings
• Outdoor recreation
• Private setting

Tags

• PRIVATE SETTING
• WOODED SURROUNDINGS
• OUTDOOR RECREATION

Property features AI

Finance

• Other: Located on a private road; Has view

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Cable available; Water service available
• Home design: Single-family manufactured home; One level; Built in 2003; Shingle roof; Irregular lot shape
• Construction: Vinyl siding; Mobile home base foundation
• Exterior features: Private yard; Sloped, wooded lot; Aluminum-clad windows

Interior

• Kitchen: Electric oven; Dishwasher
• Bedrooms: Primary bedroom (15 x 12); Bedroom 2 (11 x 13)
• Bathrooms: 2 full bathrooms; Primary bath (7 x 9); Bathroom 2 (4 x 7); Bathroom 3 (10 x 13)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Eat-in kitchen; Wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 53/100 on livability (#645 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, employment D, amenities F.
• Gallatin County (rural): math 20% / reading 31% proficiency, ranked #137 of 165 in KY (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Gallatin County Upper Elementary (math 18% / reading 32%, grade F, #483 of 676 statewide, top 72%, 290 students, 70% FRL); Gallatin County Middle School (math 22% / reading 30%, grade F, #178 of 217 statewide, top 83%, 326 students, 67% FRL); Gallatin County High School (math 22% / reading 32%, grade F, #158 of 254 statewide, top 68%, 493 students, 65% FRL).
• Market conditions: 56 units permitted in Gallatin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($415 loan paydown + $5k appreciation (8.4% local appreciation)).
• Gallatin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, 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 23 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $20k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 2.05% ✓
• Cap rate: 17.23%
• Cash-on-cash: 39.06%
• DSCR: 2.74
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.37% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.2%
• Equity multiple: 4.63×
• Total profit: $61,008
• Equity at exit: $47,115

10-year hold

• IRR: 47.1%
• Equity multiple: 10.00×
• Total profit: $151,271
• Equity at exit: $95,023

Cash invested: $16,800 (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 41095

• Home prices YoY: 2.9%
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,227 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$83 /mo · $998/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $547

Break-even live

Break-even rent $535

Max offer price $60,000

Occupancy floor 50%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-12
   statusdays on market $60,000 Pending 23 DOM
2. 2026-06-09
   days on market $60,000 Active 22 DOM
3. 2026-06-08
   days on market $60,000 Active 21 DOM
4. 2026-06-07
   days on market $60,000 Active 20 DOM
5. 2026-06-07
   days on market $60,000 Active 19 DOM
6. 2026-06-04
   pricedays on market $60,000 Active 16 DOM
7. 2026-06-02
   days on market $80,000 Active 15 DOM
8. 2026-06-01
   days on market $80,000 Active 14 DOM
9. 2026-05-31
   days on market $80,000 Active 13 DOM
10. 2026-05-31
    days on market $80,000 Active 12 DOM
11. 2026-05-18
    listed $80,000 Active
12. 2020-01-19
    historical
13. 2019-06-05
    listed $80,000 Active

ⓘ 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: $998 · $83/mo
• Projected year-2 tax: $998 · $83/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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 19 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,729
• − Mortgage interest: −$3,361
• − Property taxes: −$998
• − Insurance: −$300
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − Depreciation: −$1,745
• Taxable income: $5,968
• Est. tax owed @ 24.0%: −$1,432
• After-tax cash flow: $5,130/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: Gallatin County
• NCES district ID: 2102130
• Math proficiency: 20% ▼ -15.00%
• Reading proficiency: 31% ▼ -16.00%
• Median HH income: $46,041
• Composite: 22.05/100
• National rank: #8195
• State rank: #137 of 165 in KY

Livability — Patriot

• Score: 53/100
• State rank: #645
• US rank: #24451

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,775

Population outlook (Gallatin County) Hauer SSP2

• Today (2025): 8,658 people
• By 2030: 8,616 · -0.5%
• By 2040: 8,410 · -2.9%
• By 2050: 8,140 · -6.0%
• By 2075: 7,308 · -15.6%
• By 2100: 6,671 · -22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Black 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 1% Italian 1% Scottish 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6% French/Haitian/Cajun 0%

Political lean MEDSL · Gallatin

• 2024 margin: Solid R (+59.9) · D 19.4% · R 79.4% · Other 1.2%
• 2008→2024 swing: -42.3pp toward R · 2008: -17.6pp · 2024: -59.9pp
• All cycles: 2024: R+59.9 2020: R+55.4 2016: R+50.8 2012: R+17.0 2008: R+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.37%
• Current HPI: 293.2896
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-18 Listed $80,000 NKMLS
• 2020-01-19 Listing Removed — NKMLS
• 2019-06-05 Listed $80,000 NKMLS

Property tax history

-0.4%/yr

Latest (2025): $998 · -0.2% YoY. Source: county tax records.