20553 E 330 Rd N

Cayuga, IN 61870

$79,900B+

3 bd · 1.0 ba · 1,500 sqft · Built 1950 · Other · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,316/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$112
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $509/mo
• Annual: $6,106/yr
• Cap rate: 13.94%
• Cash-on-cash: 27.30%
• DSCR: 2.21
• 1% rule: 1.65%
• Cash to close: $22,372

Investor read

• This is a 3-bed/1.0-bath other listed at $80k.
• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 18 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-0.8%/yr); year-one equity from $552 of loan paydown is wiped out by about $676 of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#490 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Zoned schools: Pine Crest Elementary School (math 8% / reading 22%, grade F, #1,259 of 2,056 statewide, top 62%, 415 students, 0% FRL); Mary Miller Junior High School (math 8% / reading 22%, grade F, #510 of 665 statewide, top 78%, 196 students, 0% FRL); Georgetown-Ridge Farm High School (math 15% / reading 5%, grade F, #528 of 693 statewide, top 82%, 259 students, 0% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.8% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.