36 S Jefferson St · Knightstown, IN 46148

$270,000

4 bd · 1.0 ba · 2,984 sqft · MultiFamily public records · 154 Days on market

Built 1900 4,879 sqft lot

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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 +27.8/30.0
• DSCR +9.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Great property for investor or owner occupant. All brick, 4 units w/ updates incl carpet, vinyl, tile, & some new appliances. Home being sold as-is. Home could be converted to a single-family home. Convenient located.

Key facts

• 4,879 sq ft lot
• Built 1900
• Listed 154 days

Property features AI

Finance

• Financial info: Four rental units; Unit rents: two units at $800/month and two units at $775/month; Reported gross income: $0; Reported expenses: $0

Exterior

• Parking: On-street parking
• Utilities: No municipal solid waste service
• Home design: Residential income property (quadruplex); Two-story building; Converted property
• Construction: Brick construction; Block foundation and crawl space
• Exterior features: Corner lot with sidewalks and street lights; Road access: see remarks; Current use: see remarks

Interior

• Kitchen: Each unit includes a kitchen
• Bedrooms: Four 1-bedroom units (each single-level)
• Interior features: Has basement; Smoke detector(s)
• Laundry & utility: No laundry facilities

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $824 ($10k/yr) — positive. Per door: $206/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $238k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#170 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D+, employment D.
• C A Beard Memorial School Corporation (rural): math 29% / reading 33% proficiency, ranked #231 of 301 in IN (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 active listings in the ZIP; 47 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Henry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $76k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $270k implies a 218% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $237,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.95%
• Cash-on-cash: 13.07%
• DSCR: 1.58
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 3.0%
• Equity multiple: 1.11×
• Total profit: $8,678
• Equity at exit: $40,258

10-year hold

• IRR: 12.5%
• Equity multiple: 1.99×
• Total profit: $74,985
• Equity at exit: $23,345

Cash invested: $75,600 (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 46148

• Home prices YoY: -19.9%
• Active inventory: 38
• Price-to-rent: 27.8×

Monthly cashflow live

• Estimated rent: $3,242 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$209 /mo · $2,509/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$681
• Net cashflow: $824

Break-even live

Break-even rent $2,199

Max offer price $270,000

Occupancy floor 70%

Sensitivity live

Price	-10% $977	-5% $900	+0% $824	+5% $747	+10% $671
Rent	-10% $568	-5% $696	+0% $824	+5% $952	+10% $1,080
Rate	-1.0pp $960	-0.5pp $892	base $824	+0.5pp $754	+1.0pp $683

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,240
Total (4 units)			$3,242

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $270,000 Active 154 DOM
2. 2026-06-17
   days on market $270,000 Active 153 DOM
3. 2026-06-16
   days on market $270,000 Active 152 DOM
4. 2026-06-15
   days on market $270,000 Active 151 DOM
5. 2026-06-13
   days on market $270,000 Active 149 DOM
6. 2026-06-09
   days on market $270,000 Active 145 DOM
7. 2026-06-08
   days on market $270,000 Active 144 DOM
8. 2026-06-07
   days on market $270,000 Active 143 DOM
9. 2026-06-03
   days on market $270,000 Active 139 DOM
10. 2026-06-02
    days on market $270,000 Active 138 DOM
11. 2026-06-01
    days on market $270,000 Active 137 DOM
12. 2026-05-31
    days on market $270,000 Active 136 DOM
13. 2026-04-01
    price $270,000
14. 2026-01-14
    listed $290,000 Active
15. 2024-05-31
    historical
16. 2024-04-23
    price $269,900
17. 2024-04-12
    status Active
18. 2024-03-24
    status Pending
19. 2024-03-20
    listed $279,900 Active
20. 2023-11-04
    historical $750
21. 2023-10-20
    listed $750
22. 2017-03-24
    soldstatus $85,000 221-char remark

    Show marketing remark (221 chars)

    Great property for investor or owner occupant. All brick, 4 units w/ updates incl carpet, vinyl, tile, & some new appliances. Home being sold as-is. Home could be converted to a single-family home. Convenient located.

23. 2016-07-06
    listed $99,900 221-char remark

    Show marketing remark (221 chars)

    Great property for investor or owner occupant. All brick, 4 units w/ updates incl carpet, vinyl, tile, & some new appliances. Home being sold as-is. Home could be converted to a single-family home. Convenient located.

ⓘ 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: $2,509 · $209/mo
• Projected year-2 tax: $2,509 · $209/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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,904
• − Mortgage interest: −$15,124
• − Property taxes: −$2,509
• − Insurance: −$1,350
• − Repairs & maintenance: −$3,112
• − Management: −$3,112
• − Depreciation: −$7,855
• Taxable income: $5,841
• Est. tax owed @ 24.0%: −$1,402
• After-tax cash flow: $8,482/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: C A Beard Memorial School Corporation
• NCES district ID: 1801060
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 33% ▼ -10.00%
• Median HH income: $47,269
• Composite: 26.76/100
• National rank: #7133
• State rank: #231 of 301 in IN

Livability — Knightstown

• Score: 70/100
• State rank: #170
• US rank: #8004

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Knightstown, IN
• Population (ZIP): 4,948

Population outlook (Henry County) Hauer SSP2

• Today (2025): 48,028 people
• By 2030: 47,125 · -1.9%
• By 2040: 44,820 · -6.7%
• By 2050: 42,207 · -12.1%
• By 2075: 35,814 · -25.4%
• By 2100: 26,779 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Serbian 2% Slovak 2% Portuguese 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+47.7) · D 25.3% · R 73.0% · Other 1.7%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.9pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.2 2016: R+43.7 2012: R+17.0 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.84%
• Current HPI: 216.4292
• 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

+170.3% since first listed

11 events — show timeline

• 2026-04-01 Price Changed $270,000 MIBOR as Distributed by MLS Grid
• 2026-01-14 Listed $290,000 MIBOR as Distributed by MLS Grid
• 2024-05-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-04-23 Price Changed $269,900 MIBOR as Distributed by MLS Grid
• 2024-04-12 Relisted — MIBOR as Distributed by MLS Grid
• 2024-03-24 Pending — MIBOR as Distributed by MLS Grid
• 2024-03-20 Listed $279,900 MIBOR as Distributed by MLS Grid
• 2023-11-04 Rental Removed $750 APPFOLIO
• 2023-10-20 Listed for Rent $750 APPFOLIO
• 2017-03-24 Sold (MLS) $85,000 MIBOR as Distributed by MLS Grid
• 2016-07-06 Listed $99,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2024): $2,509 · +18.8% YoY. Source: county tax records.