1523 4th St · Bedford, IN 47421

$117,900

2 bd · 1.0 ba · 1,212 sqft · SingleFamily public records · 137 Days on market

Built 1922 4,966 sqft lot $97/sqft · 21% below area Est $150k · 21% 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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this 2 bedroom, 1 bath home in town. This home offers "single-level" living and features large rooms, high ceilings, wood floors, and convenient location with easy access to downtown Bedford or Highway 37. The main floor includes: living room, family room/den, 2 bedrooms, bathroom, kitchen and laundry. Additionally, there is a detached garage for extra storage or workshop.

Key facts

• Single-level living
• Convenient location
• Detached garage

Tags

• SINGLE-LEVEL LIVING
• CONVENIENT LOCATION
• EASY ACCESS TO DOWNTOWN
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $177 ($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 $111k (5.9% below list).
• Recommended offer: $104k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.2% in Bedford — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#23 in IN, #1,958 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D, commute F.
• North Lawrence Community Schools (rural): math 35% / reading 40% proficiency, ranked #170 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 158 active listings in the ZIP; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $815 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($104k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,752 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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 1922 — 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. 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: 0.94% ✗
• Cap rate: 8.10%
• Cash-on-cash: 6.45%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (median comp): $150,033
• List price: $117,900
• Delta: -21.42%
• 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
414 N St	0.13mi	2/2.0	1,200 (-1%)	1mo	$71,000	$59	87
702 O St	0.24mi	3/2.5 (+1)	1,220 (+1%)	2mo	$187,000	$153	75
1511 2nd St	0.12mi	2/1.0	1,040 (-14%)	0mo	$151,000	$145	70
505 T St	0.33mi	3/2.0 (+1)	1,148 (-5%)	2mo	$199,000	$173	66
9 Murray Ct	0.30mi	3/1.0 (+1)	1,104 (-9%)	2mo	$215,000	$195	64
1539 Breckenridge Rd	0.51mi	3/1.0 (+1)	1,130 (-7%)	0mo	$28,000	$25	60
1511 11th Street St	0.62mi	3/2.0 (+1)	1,190 (-2%)	1mo	$192,000	$161	58
1219 9th St	0.50mi	3/2.0 (+1)	1,114 (-8%)	2mo	$185,000	$166	52
423 J St	0.44mi	3/2.5 (+1)	1,360 (+12%)	4mo	$232,500	$171	45
1017 Q St	0.58mi	2/1.5	1,032 (-15%)	2mo	$150,000	$145	44
1117 P St	0.68mi	3/1.0 (+1)	1,064 (-12%)	3mo	$165,000	$155	40
311 N Madison St	0.55mi	3/2.0 (+1)	1,392 (+15%)	1mo	$204,500	$147	39

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: -6.4%
• Equity multiple: 0.76×
• Total profit: $-7,865
• Equity at exit: $17,579

10-year hold

• IRR: 3.1%
• Equity multiple: 1.23×
• Total profit: $7,472
• Equity at exit: $10,194

Cash invested: $33,012 (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 47421

• Home prices YoY: -25.2%
• Active inventory: 158
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,109 medium
• Mortgage (P&I): −$618
• Tax from tax record: −$31 /mo · $376/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $177

Break-even live

Break-even rent $885

Max offer price $117,900

Occupancy floor 79%

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: $29,475
• Closing costs: $3,537
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $117,900 Active 137 DOM
2. 2026-06-18
   days on market $117,900 Active 136 DOM
3. 2026-06-17
   days on market $117,900 Active 135 DOM
4. 2026-06-16
   days on market $117,900 Active 134 DOM
5. 2026-06-15
   days on market $117,900 Active 133 DOM
6. 2026-06-14
   days on market $117,900 Active 131 DOM
7. 2026-06-13
   days on market $117,900 Active 130 DOM
8. 2026-06-10
   days on market $117,900 Active 128 DOM
9. 2026-06-09
   days on market $117,900 Active 127 DOM
10. 2026-06-08
    days on market $117,900 Active 126 DOM
11. 2026-06-07
    days on market $117,900 Active 125 DOM
12. 2026-06-05
    days on market $117,900 Active 122 DOM
13. 2026-06-03
    days on market $117,900 Active 121 DOM
14. 2026-06-02
    days on market $117,900 Active 120 DOM
15. 2026-06-01
    days on market $117,900 Active 119 DOM
16. 2026-05-31
    days on market $117,900 Active 118 DOM
17. 2026-05-30
    days on market $117,900 Active 117 DOM
18. 2026-01-30
    listed $117,900 Active 396-char remark

    Show marketing remark (396 chars)

    Don't miss this 2 bedroom, 1 bath home in town. This home offers "single-level" living and features large rooms, high ceilings, wood floors, and convenient location with easy access to downtown Bedford or Highway 37. The main floor includes: living room, family room/den, 2 bedrooms, bathroom, kitchen and laundry. Additionally, there is a detached garage for extra storage or workshop.

ⓘ 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: $376 · $31/mo
• Projected year-2 tax: $689 · $57/mo
• Expected delta: +$313/yr (+$26/mo · 83.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 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: $13,308
• − Mortgage interest: −$6,604
• − Property taxes: −$376
• − Insurance: −$590
• − Repairs & maintenance: −$1,065
• − Management: −$1,065
• − Depreciation: −$3,430
• Taxable income: $179
• Est. tax owed @ 24.0%: −$43
• After-tax cash flow: $2,085/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: North Lawrence Community Schools
• NCES district ID: 1807860
• Math proficiency: 35% ▼ -2.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $44,566
• Composite: 31.88/100
• National rank: #5864
• State rank: #170 of 301 in IN

Livability — Bedford

• Score: 80/100
• State rank: #23
• US rank: #1958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bedford, IN
• County: Lawrence County · 27,599 people
• City population: 27,599
• Metro: Bedford, IN
• Population (ZIP): 27,599
• Household income: $68,108
• Rent vs Own: 20.0% rent · 80.0% own
• Severe rent burden: 507.0

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 44,347 people
• By 2030: 43,331 · -2.3%
• By 2040: 40,887 · -7.8%
• By 2050: 38,297 · -13.6%
• By 2075: 32,479 · -26.8%
• By 2100: 26,051 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Italian 2% Scotch-Irish 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+51.0) · D 23.6% · R 74.6% · Other 1.7%
• 2008→2024 swing: -30.5pp toward R · 2008: -20.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.6 2016: R+51.5 2012: R+32.8 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.32%
• Current HPI: 240.959
• Rent YoY: —
• Metro: Bedford, 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

1 event — show timeline

• 2026-01-30 Listed $117,900 IRMLS

Property tax history

-11.0%/yr

Latest (2023): $376 · -59.5% YoY. Source: county tax records.