204 N Market St · Parker City, IN 47368

$79,900

2 bd · 1.0 ba · 790 sqft · SingleFamily public records · 4 Days on market

Built 1941 10,454 sqft lot $101/sqft · 29% below area Est $113k · 29% 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 +19.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• Appreciation +5.6/10.0
• 1% rule +5.5/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

With this home you will find a well built 2-bedroom, 1-bathroom home with a full unfinished basement and a one car detached garage. The dwelling is resting on a large 85' X 125' double lot. The property also features a chain link fenced in backyard and a wood deck area. The home has a large living room area and also spacious eat in kitchen. The bedrooms have hardwood flooring and the whole house has replacement windows. The home also has a metal roof and the exterior of the home is very well maintained.

Key facts

• 0.24 acre lot
• Garage
• Built 1941

Property features AI

Finance

• Other: Residential property

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family, site-built home; One story
• Construction: Vinyl siding; Above-grade finished area reported as 790; Has basement (unfinished)
• Exterior features: Corner lot; Lot approximately 0.24 acres (85' x 125')

Interior

• Kitchen: Refrigerator; Electric oven; Electric range
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Refrigerator; Electric oven and electric range; Electric water heater; Unfinished basement; Total of 5 rooms
• Laundry & utility: Laundry on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($843 rent vs $80k).

Location & tenants

• Location reads 67/100 on livability (#246 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety D, amenities F.
• Monroe Central School Corporation (rural): math 47% / reading 45% proficiency, ranked #95 of 301 in IN (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Monroe Central Elementary School (math 58% / reading 44%, grade C-, #262 of 994 statewide, top 27%, 624 students, 52% FRL); Monroe Central Jr-Sr High School (math 31% / reading 47%, grade F, #235 of 369 statewide, top 65%, 459 students, 50% FRL).
• Market conditions: 15 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 $2k of equity ($552 loan paydown + $1k appreciation (1.3% 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 (1.3% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.05% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 7.9

CMA / ARV

• ARV (median comp): $112,859
• List price: $79,900
• Delta: -29.20%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Projected returns pro-forma

1.27% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.37×
• Total profit: $8,336
• Equity at exit: $28,398

10-year hold

• IRR: 11.1%
• Equity multiple: 2.39×
• Total profit: $31,102
• Equity at exit: $38,622

Cash invested: $22,372 (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 47368

• Home prices YoY: 0.6%
• Active inventory: 15
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $843 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$123 /mo · $1,476/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $90

Break-even live

Break-even rent $728

Max offer price $79,900

Occupancy floor 84%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-08
   status Pending 508-char remark
2. 2026-05-04
   listed $79,900 Active 508-char remark

ⓘ 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: $1,476 · $123/mo
• Projected year-2 tax: $1,476 · $123/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 ≥100°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,112
• − Mortgage interest: −$4,476
• − Property taxes: −$1,476
• − Insurance: −$400
• − Repairs & maintenance: −$809
• − Management: −$809
• − Depreciation: −$2,324
• Taxable loss: −$181
• Est. tax savings @ 24.0%: +$43
• After-tax cash flow: $1,129/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: Monroe Central School Corporation
• NCES district ID: 1807080
• Math proficiency: 47% ▼ -16.00%
• Reading proficiency: 45% ▼ -17.00%
• Median HH income: $44,315
• Composite: 38.94/100
• National rank: #4085
• State rank: #95 of 301 in IN

Livability — Parker City

• Score: 67/100
• State rank: #246
• US rank: #10519

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parker City, IN
• Population (ZIP): 2,118

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 2% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada

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: ▲ 1.27%
• Current HPI: 225.916
• 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

2 events — show timeline

• 2026-05-08 Pending — IRMLS
• 2026-05-04 Listed $79,900 IRMLS

Property tax history

+17.6%/yr

Latest (2024): $1,476 · +5265.5% YoY. Source: county tax records.