4520 W 850 · Monon, IN 47959

$35,000

2 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 25 Days on market

Built 1901 1.41 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

This residence presents a compelling opportunity for those with vision, beckoning both discerning investors and resourceful homeowners. Set within a tranquil rural area, encompassing an expansive lot of almost 1.5 acres, this property provides immense potential for outdoor pursuits and personal projects. With a unique chance to shape a living environment rich with possibility and located within a peaceful setting, don't miss this one!

Key facts

• Expansive lot
• Tranquil rural area
• 1.41 acre lot

Tags

• EXPANSIVE LOT
• TRANQUIL RURAL AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($972 rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#369 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-.
• North White School Corporation (rural): math 25% / reading 34% proficiency, ranked #245 of 301 in IN (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: North White Middle School (math 17% / reading 32%, grade F, #251 of 330 statewide, top 77%, 201 students, 76% FRL); North White High School (math 34% / reading 64%, grade D, #123 of 369 statewide, top 36%, 266 students, 79% FRL) — zoned schools average 77% FRL vs 58% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 20 active listings in the ZIP; 47 units permitted in White County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($242 loan paydown + $4k appreciation (10.0% local appreciation)).
• White County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, 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 25 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,475 (1.5% below list)

Questions for the listing agent

1. Built in 1901 — 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. 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?
4. 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.
5. 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.
6. 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: 2.78% ✓
• Cap rate: 24.37%
• Cash-on-cash: 64.55%
• DSCR: 3.87
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 76.2%
• Equity multiple: 6.37×
• Total profit: $52,651
• Equity at exit: $31,531

10-year hold

• IRR: 70.2%
• Equity multiple: 14.13×
• Total profit: $128,673
• Equity at exit: $67,997

Cash invested: $9,800 (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 47959

• Home prices YoY: 18.0%
• Active inventory: 20
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $972 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$43 /mo · $515/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $527

Break-even live

Break-even rent $305

Max offer price $35,000

Occupancy floor 41%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-12
   soldstatus $40,000 Closed 438-char remark

   Show marketing remark (438 chars)

   This residence presents a compelling opportunity for those with vision, beckoning both discerning investors and resourceful homeowners. Set within a tranquil rural area, encompassing an expansive lot of almost 1.5 acres, this property provides immense potential for outdoor pursuits and personal projects. With a unique chance to shape a living environment rich with possibility and located within a peaceful setting, don't miss this one!

2. 2026-04-21
   status Pending

   Show marketing remark (438 chars)

   This residence presents a compelling opportunity for those with vision, beckoning both discerning investors and resourceful homeowners. Set within a tranquil rural area, encompassing an expansive lot of almost 1.5 acres, this property provides immense potential for outdoor pursuits and personal projects. With a unique chance to shape a living environment rich with possibility and located within a peaceful setting, don't miss this one!

3. 2026-04-21
   status Pending 438-char remark

   Show marketing remark (438 chars)

   This residence presents a compelling opportunity for those with vision, beckoning both discerning investors and resourceful homeowners. Set within a tranquil rural area, encompassing an expansive lot of almost 1.5 acres, this property provides immense potential for outdoor pursuits and personal projects. With a unique chance to shape a living environment rich with possibility and located within a peaceful setting, don't miss this one!

4. 2026-03-26
   listed $35,000 Active 438-char remark

   Show marketing remark (438 chars)

   This residence presents a compelling opportunity for those with vision, beckoning both discerning investors and resourceful homeowners. Set within a tranquil rural area, encompassing an expansive lot of almost 1.5 acres, this property provides immense potential for outdoor pursuits and personal projects. With a unique chance to shape a living environment rich with possibility and located within a peaceful setting, don't miss this one!

5. 2026-03-26
   listed $35,000 Active

   Show marketing remark (438 chars)

   This residence presents a compelling opportunity for those with vision, beckoning both discerning investors and resourceful homeowners. Set within a tranquil rural area, encompassing an expansive lot of almost 1.5 acres, this property provides immense potential for outdoor pursuits and personal projects. With a unique chance to shape a living environment rich with possibility and located within a peaceful setting, don't miss this one!

ⓘ 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: $515 · $43/mo
• Projected year-2 tax: $515 · $43/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 ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,669
• − Mortgage interest: −$1,961
• − Property taxes: −$515
• − Insurance: −$175
• − Repairs & maintenance: −$934
• − Management: −$934
• − Depreciation: −$1,018
• Taxable income: $6,133
• Est. tax owed @ 24.0%: −$1,472
• After-tax cash flow: $4,854/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 White School Corporation
• NCES district ID: 1808130
• Math proficiency: 25% ▼ -15.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $42,460
• Composite: 25.03/100
• National rank: #7550
• State rank: #245 of 301 in IN

Livability — Monon

• Score: 64/100
• State rank: #369
• US rank: #13825

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,557

Population outlook (White County) Hauer SSP2

• Today (2025): 23,006 people
• By 2030: 22,204 · -3.5%
• By 2040: 20,441 · -11.1%
• By 2050: 18,711 · -18.7%
• By 2075: 14,989 · -34.8%
• By 2100: 10,896 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (54%)
• Race & ethnicity: White 54% Hispanic / Latino 43% Two or more races 19%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 1% Slovak 1% Scotch-Irish 1%
• Foreign-born: 28% · Canada
• Languages at home: 70% English-only · Spanish 29%

Political lean MEDSL · White

• 2024 margin: Solid R (+45.0) · D 26.4% · R 71.4% · Other 2.2%
• 2008→2024 swing: -36.7pp toward R · 2008: -8.3pp · 2024: -45.0pp
• All cycles: 2024: R+45.0 2020: R+44.1 2016: R+42.9 2012: R+23.6 2008: R+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 49.20%
• Current HPI: 321.9377
• 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

+14.3% since first listed

5 events — show timeline

• 2026-05-12 Sold (MLS) $40,000 MIBOR as Distributed by MLS Grid
• 2026-04-21 Pending — IRMLS
• 2026-04-21 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-26 Listed $35,000 IRMLS
• 2026-03-26 Listed $35,000 MIBOR as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2024): $515 · -1.8% YoY. Source: county tax records.