822 Woodlawn Ave Unit D · Monticello, IN 47960

$130,000

2 bd · 1.0 ba · 744 sqft · Condo public records · 21 Days on market

Built 1980 $100/mo HOA · 9% of rent

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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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy easy, low maintenance living in this well maintained 1 bed, 1 bath condo located in a desirable community in the heart of Monticello. Offering 744 square feet of comfortable one-level living, this home features updated flooring, fresh paint, and upgraded lighting. The functional floor plan includes the convenience of in-unit laundry and a welcoming living space. An open carport with an enclosed storage space provides additional room for everyday convenience. Ideally situated near shopping, dining, and a local park, you'll love the accessibility this location offers. Whether you're looking to simplify or downsize, this move-in-ready condo is a wonderful place to call home.

Key facts

• Near dining
• Near shopping
• In-unit laundry

Tags

• UPDATED FLOORING
• IN-UNIT LAUNDRY
• ENCLOSED STORAGE SPACE
• NEAR SHOPPING
• NEAR DINING
• NEAR LOCAL PARK

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $100

Exterior

• Parking: Carport and off-street parking; 1 garage space
• Utilities: Public water; Public sewer; Electric service (standard)
• Home design: Condominium; Single-story; Entry on main level; Brick exterior
• Construction: Shingle roof; Slab foundation
• Exterior features: Patio; Landscaped, level lot; No fencing

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator; Exhaust fan; Laminate countertops
• Bedrooms: 3 total rooms (includes bedrooms and living spaces)
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fan(s)
• Interior features: Walk-in closet(s); Ceiling fan(s); Open floorplan; Laminate counters; Primary suite on main level; One fireplace
• Laundry & utility: Washer and dryer included; Laundry on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $19 ($230/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 $112k (14.1% below list).
• Recommended offer: $112k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.4% in Monticello — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#141 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Twin Lakes School Corporation (town): math 39% / reading 46% proficiency, ranked #116 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Meadowlawn Elementary School (math 36% / reading 37%, grade F, #571 of 994 statewide, top 58%, 567 students, 56% FRL); Roosevelt Middle School (math 38% / reading 47%, grade D-, #98 of 330 statewide, top 30%, 523 students, 67% FRL); Twin Lakes Senior High School (math 37% / reading 62%, grade D, #123 of 369 statewide, top 36%, 674 students, 59% FRL) — zoned schools average 60% FRL vs 41% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 225 active listings in the ZIP; 47 units permitted in White County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• White County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Recommended offer $111,633 (14.1% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.86% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• GRM: 9.7

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: -15.3%
• Equity multiple: 0.45×
• Total profit: $-19,852
• Equity at exit: $19,383

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-15,739
• Equity at exit: $11,240

Cash invested: $36,400 (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 47960

• Home prices YoY: -17.8%
• Active inventory: 225
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,116 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$27 /mo · $322/yr
• Insurance: −$54
• HOA: −$100
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $19

Break-even live

Break-even rent $1,092

Max offer price $130,000

Occupancy floor 93%

Sensitivity live

Price	-10% $93	-5% $56	+0% $19	+5% $-18	+10% $-54
Rent	-10% $-69	-5% $-25	+0% $19	+5% $63	+10% $107
Rate	-1.0pp $85	-0.5pp $52	base $19	+0.5pp $-15	+1.0pp $-49

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $100 · $1,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-22
   days on market $130,000 Active 21 DOM
2. 2026-06-21
   days on market $130,000 Active 20 DOM
3. 2026-06-21
   days on market $130,000 Active 19 DOM
4. 2026-06-18
   days on market $130,000 Active 17 DOM
5. 2026-06-17
   days on market $130,000 Active 16 DOM
6. 2026-06-16
   days on market $130,000 Active 15 DOM
7. 2026-06-15
   days on market $130,000 Active 14 DOM
8. 2026-06-13
   days on market $130,000 Active 12 DOM
9. 2026-06-12
   days on market $130,000 Active 11 DOM
10. 2026-06-09
    days on market $130,000 Active 8 DOM
11. 2026-06-08
    days on market $130,000 Active 7 DOM
12. 2026-06-07
    days on market $130,000 Active 6 DOM
13. 2026-06-07
    days on market $130,000 Active 5 DOM
14. 2026-06-04
    days on market $130,000 Active 2 DOM
15. 2026-06-02
    remarks 686-char remark
16. 2026-06-02
    listed $130,000 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: $322 · $27/mo
• Projected year-2 tax: $714 · $59/mo
• Expected delta: +$391/yr (+$33/mo · 121.3%)

ⓘ 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
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,396
• − Mortgage interest: −$7,282
• − Property taxes: −$322
• − Insurance: −$650
• − Repairs & maintenance: −$1,072
• − Management: −$1,072
• − HOA: −$1,200
• − Depreciation: −$3,782
• Taxable loss: −$1,984
• Est. tax savings @ 24.0%: +$476
• After-tax cash flow: $706/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: Twin Lakes School Corporation
• NCES district ID: 1811580
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 46% ▼ -5.00%
• Median HH income: $48,963
• Composite: 36.44/100
• National rank: #4666
• State rank: #116 of 301 in IN

Livability — Monticello

• Score: 71/100
• State rank: #141
• US rank: #7278

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monticello, IN
• Population (ZIP): 15,313

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: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 4% Iranian 3% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -52.85%
• Current HPI: 243.8468
• 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

• 2026-06-01 Listed $130,000 IRMLS

Property tax history

-5.6%/yr

Latest (2018): $322 · +7.7% YoY. Source: county tax records.