809 N Mason St · Bicknell, IN 47512

$114,500

3 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 13 Days on market

Built 1919 0.39 ac lot Est $127k · 10% under

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Why this score? — see what drove the D+ 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 +17.0/30.0
• ARV discount +12.0/15.0
• DSCR +5.3/10.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great curb appeal! This cozy 2 bedroom home boasts with character. Covered front porch, eat-in kitchen with pantry, living room, arched doorways and hardwood floors. Laundry room, mud room. Shed, and large back yard. Off Street parking. Nicely landscaped.

Key facts

• Covered front porch
• Pantry
• Laundry room

Tags

• COVERED FRONT PORCH
• EAT-IN KITCHEN
• PANTRY
• ARCHED DOORWAYS
• HARDWOOD FLOORS
• LAUNDRY ROOM

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Shed(s)

Interior

• Kitchen: Microwave; Refrigerator; Electric oven
• Bedrooms: Total of 5 rooms (includes bedrooms and living areas)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Main-level laundry; Crawl space basement; One fireplace
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $77 ($922/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 $101k (11.6% below list).
• Recommended offer: $101k (11.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#373 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: health & safety C-, amenities F, commute F.
• North Knox School Corporation (rural): math 28% / reading 45% proficiency, ranked #186 of 301 in IN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Knox Intermediate (math 33% / reading 41%, grade F, #550 of 994 statewide, top 57%, 388 students, 58% FRL); North Knox Jr-Sr High School (math 22% / reading 50%, grade F, #261 of 369 statewide, top 71%, 543 students, 56% FRL).
• Market conditions: 34 active listings in the ZIP; 36 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $792 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Knox County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,266 (11.6% below list)

Questions for the listing agent

1. Built in 1919 — 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 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.88% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.88%
• DSCR: 1.13
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $127,368
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
221 W 11th St	0.16mi	2/1.0 (-1)	1,055 (+1%)	7mo	$46,000	$44	80
316 W 8th St	0.10mi	2/1.5 (-1)	1,117 (+7%)	1mo	$103,000	$92	76
508 W 5th St	0.21mi	2/1.5 (-1)	1,064 (+2%)	7mo	$144,000	$135	74
418 W 7th St	0.19mi	3/2.0	1,140 (+9%)	5mo	$99,900	$88	68
312 E 4th St	0.33mi	2/2.0 (-1)	1,058 (+1%)	10mo	$170,000	$161	65
750 W Oak St	0.53mi	3/2.0	1,065 (+2%)	7mo	$144,000	$135	62
1008 Miami St	0.27mi	2/1.0 (-1)	1,180 (+13%)	5mo	$125,000	$106	57
312 E 2nd St. St	0.43mi	2/1.0 (-1)	1,121 (+7%)	10mo	$130,000	$116	54
7625 N ST RD 159	0.66mi	3/1.0	1,144 (+10%)	2mo	$148,900	$130	51
721 N Dant Blvd	0.69mi	3/2.0	1,112 (+6%)	4mo	$153,000	$138	49
119 Lemon St	0.63mi	2/1.0 (-1)	1,120 (+7%)	7mo	$105,500	$94	47
813 N Charles St	0.74mi	2/1.0 (-1)	984 (-6%)	8mo	$120,000	$122	44

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: -11.8%
• Equity multiple: 0.57×
• Total profit: $-13,686
• Equity at exit: $17,072

10-year hold

• IRR: -2.7%
• Equity multiple: 0.82×
• Total profit: $-5,724
• Equity at exit: $9,900

Cash invested: $32,060 (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 47512

• Home prices YoY: -32.1%
• Active inventory: 34
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,013 medium
• Mortgage (P&I): −$600
• Tax from tax record: −$75 /mo · $900/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $77

Break-even live

Break-even rent $915

Max offer price $114,500

Occupancy floor 87%

Sensitivity live

Price	-10% $142	-5% $109	+0% $77	+5% $44	+10% $12
Rent	-10% $-3	-5% $37	+0% $77	+5% $117	+10% $157
Rate	-1.0pp $135	-0.5pp $106	base $77	+0.5pp $47	+1.0pp $17

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: $28,625
• Closing costs: $3,435
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-21
   days on market $114,500 Active 13 DOM
2. 2026-06-21
   days on market $114,500 Active 12 DOM
3. 2026-06-18
   days on market $114,500 Active 10 DOM
4. 2026-06-17
   days on market $114,500 Active 9 DOM
5. 2026-06-16
   days on market $114,500 Active 8 DOM
6. 2026-06-15
   days on market $114,500 Active 7 DOM
7. 2026-06-13
   days on market $114,500 Active 5 DOM
8. 2026-06-12
   days on market $114,500 Active 4 DOM
9. 2026-06-09
   remarks 257-char remark
10. 2026-06-09
    listed $114,500 Active 1 DOM

ⓘ 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: $900 · $75/mo
• Projected year-2 tax: $937 · $78/mo
• Expected delta: +$37/yr (+$3/mo · 4.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $12,152
• − Mortgage interest: −$6,414
• − Property taxes: −$900
• − Insurance: −$572
• − Repairs & maintenance: −$972
• − Management: −$972
• − Depreciation: −$3,331
• Taxable loss: −$1,010
• Est. tax savings @ 24.0%: +$242
• After-tax cash flow: $1,164/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 Knox School Corporation
• NCES district ID: 1807830
• Math proficiency: 28% ▼ -11.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $42,553
• Composite: 30.82/100
• National rank: #6139
• State rank: #186 of 301 in IN

Livability — Bicknell

• Score: 64/100
• State rank: #373
• US rank: #13970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bicknell, IN
• City population: 4,216
• Population (ZIP): 4,216

Population outlook (Knox County) Hauer SSP2

• Today (2025): 37,092 people
• By 2030: 36,271 · -2.2%
• By 2040: 34,196 · -7.8%
• By 2050: 32,405 · -12.6%
• By 2075: 28,754 · -22.5%
• By 2100: 24,110 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Italian 3% Lithuanian 1% Iranian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Tagalog/Filipino 1% Spanish 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+50.4) · D 24.0% · R 74.4% · Other 1.6%
• 2008→2024 swing: -43.9pp toward R · 2008: -6.5pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+47.4 2016: R+47.2 2012: R+28.9 2008: R+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.85%
• Current HPI: 191.8851
• 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

1 event — show timeline

• 2026-06-05 Listed $114,500 IRMLS

Property tax history

-0.2%/yr

Latest (2024): $900 · +18.6% YoY. Source: county tax records.