118 W Wine St · Modoc, IN 47358

$85,000

3 bd · 1.0 ba · 1,169 sqft · SingleFamily public records · 82 Days on market

Built 1890 0.85 ac lot $73/sqft · 85% above 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 +27.3/30.0
• DSCR +9.5/10.0
• Appreciation +9.0/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

An exceptional opportunity for handy homeowners and astute investors awaits at 118 W Wine ST in Modoc Indiana. A single family residence offering significant potential while currently occupied with a tenant. Rent is $1,150. The kitchen, a central gathering area, features elegant laminate countertops, complemented by a distinctive wood wall that adds character and warmth to the culinary space. With three comfortable bedrooms and one full bathroom, this residence spanning 1169 square feet of living area provides well-proportioned interior spaces. The 1.5 stories offer distinct separation of living zones, enhancing versatility within the home. Situated on a generous 37026 square feet lot, the property provides expansive outdoor dimensions, presenting numerous possibilities for enjoyment and development. Check this one out today.

Key facts

• Generous lot
• 0.85 acre lot
• Garage

Tags

• DISTINCTIVE WOOD WALL
• EXPANSIVE OUTDOOR DIMENSIONS
• GENEROUS LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#532 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, schools F.
• Union School Corporation (rural): math 12% / reading 28% proficiency, ranked #276 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• 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 $7k of equity ($588 loan paydown + $7k appreciation (7.9% 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 (7.9% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $49k; list at $85k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1890 — 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. 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?
7. 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.
8. 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.
9. 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: 1.26% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.35%
• DSCR: 1.55
• GRM: 6.6

CMA / ARV

• ARV (median comp): $54,693
• List price: $85,000
• Delta: 55.41%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

7.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.4%
• Equity multiple: 3.11×
• Total profit: $50,157
• Equity at exit: $64,064

10-year hold

• IRR: 26.4%
• Equity multiple: 6.63×
• Total profit: $133,965
• Equity at exit: $126,680

Cash invested: $23,800 (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 47358

• Home prices YoY: 3.4%
• Active inventory: 7
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,068 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$118 /mo · $1,412/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $245

Break-even live

Break-even rent $758

Max offer price $85,000

Occupancy floor 72%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $85,000 Active 82 DOM
2. 2026-06-18
   days on market $85,000 Active 81 DOM
3. 2026-06-17
   days on market $85,000 Active 80 DOM
4. 2026-06-16
   days on market $85,000 Active 79 DOM
5. 2026-06-15
   days on market $85,000 Active 78 DOM
6. 2026-06-14
   days on market $85,000 Active 76 DOM
7. 2026-06-12
   days on market $85,000 Active 75 DOM
8. 2026-06-09
   days on market $85,000 Active 72 DOM
9. 2026-06-08
   days on market $85,000 Active 71 DOM
10. 2026-06-07
    days on market $85,000 Active 70 DOM
11. 2026-06-05
    days on market $85,000 Active 67 DOM
12. 2026-06-02
    days on market $85,000 Active 65 DOM
13. 2026-06-01
    days on market $85,000 Active 64 DOM
14. 2026-05-31
    days on market $85,000 Active 63 DOM
15. 2026-05-30
    days on market $85,000 Active 62 DOM
16. 2026-03-29
    listed $85,000 Active 840-char remark

    Show marketing remark (840 chars)

    An exceptional opportunity for handy homeowners and astute investors awaits at 118 W Wine ST in Modoc Indiana. A single family residence offering significant potential while currently occupied with a tenant. Rent is $1,150. The kitchen, a central gathering area, features elegant laminate countertops, complemented by a distinctive wood wall that adds character and warmth to the culinary space. With three comfortable bedrooms and one full bathroom, this residence spanning 1169 square feet of living area provides well-proportioned interior spaces. The 1.5 stories offer distinct separation of living zones, enhancing versatility within the home. Situated on a generous 37026 square feet lot, the property provides expansive outdoor dimensions, presenting numerous possibilities for enjoyment and development. Check this one out today.

17. 2025-12-31
    historical $1,150
18. 2025-11-09
    listed $1,150
19. 2025-03-31
    historical $1,150
20. 2025-02-27
    listed $1,150
21. 2023-12-21
    historical $1,100
22. 2023-11-28
    listed $1,100
23. 2023-08-25
    historical
24. 2023-07-03
    listed $65,000 Active
25. 2022-07-07
    soldstatus $49,000 Closed
26. 2022-07-07
    soldstatus $49,000
27. 2022-06-10
    historical
28. 2022-05-18
    listed $68,000
29. 2022-05-18
    listed $68,000
30. 2021-09-29
    listed $59,900
31. 2020-09-16
    soldstatus $14,900
32. 2020-08-31
    listed $14,900

ⓘ 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: $1,412 · $118/mo
• Projected year-2 tax: $1,412 · $118/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 2/10 Low 7 d/yr ≥99°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,817
• − Mortgage interest: −$4,761
• − Property taxes: −$1,412
• − Insurance: −$425
• − Repairs & maintenance: −$1,025
• − Management: −$1,025
• − Depreciation: −$2,473
• Taxable income: $1,695
• Est. tax owed @ 24.0%: −$407
• After-tax cash flow: $2,533/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: Union School Corporation
• NCES district ID: 1811730
• Math proficiency: 12% ▬ 0.00%
• Reading proficiency: 28% ▲ 3.00%
• Median HH income: $42,889
• Composite: 17.17/100
• National rank: #9108
• State rank: #276 of 301 in IN

Livability — Modoc

• Score: 60/100
• State rank: #532
• US rank: #19171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Modoc, IN
• Population (ZIP): 917

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 (94%)
• Race & ethnicity: White 94% Two or more races 6%
• Common ancestry: Serbian 4% Romanian 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · German/W. Germanic 2% 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: ▲ 7.91%
• Current HPI: 238.7621
• 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

+470.5% since first listed

17 events — show timeline

• 2026-03-29 Listed $85,000 MIBOR as Distributed by MLS Grid
• 2025-12-31 Rental Removed $1,150 Avail
• 2025-11-09 Listed for Rent $1,150 Avail
• 2025-03-31 Rental Removed $1,150 Avail
• 2025-02-27 Listed for Rent $1,150 Avail
• 2023-12-21 Rental Removed $1,100 Avail
• 2023-11-28 Listed for Rent $1,100 Avail
• 2023-08-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2023-07-03 Listed $65,000 MIBOR as Distributed by MLS Grid
• 2022-07-07 Sold (MLS) $49,000 RRELMS
• 2022-07-07 Sold (MLS) $49,000 IRMLS
• 2022-06-10 Delisted — IRMLS
• 2022-05-18 Listed $68,000 RRELMS
• 2022-05-18 Listed $68,000 IRMLS
• 2021-09-29 Listed $59,900 IRMLS
• 2020-09-16 Sold (MLS) $14,900 IRMLS
• 2020-08-31 Listed $14,900 IRMLS

Property tax history

+4.0%/yr

Latest (2024): $1,412 · -6.0% YoY. Source: county tax records.