114 Stark Dr · Borden, IN 47106

$230,000

3 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 22 Days on market

Built 1999 9,600 sqft lot Est $208k · 10% over

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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 +17.5/30.0
• Appreciation +10.0/10.0
• DSCR +5.5/10.0
• Schools +5.0/10.0
• 1% rule +3.7/10.0
• Livability +3.1/5.0
• ARV discount +2.8/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This charming ranch style home offers three bedrooms and two full bathrooms. The covered front porch is perfect for sipping your morning coffee while enjoying the view of the Borden Scenic hills and welcomes you into the home, offering a warm and inviting entrance. Once inside, you'll immediately notice the open concept layout, perfect for entertaining guests or simply enjoying the company of loved ones. The updated interior is flooded with natural light, making it feel bright and airy. The fenced-in yard is ideal for those with children or pets, providing a safe and secure space for them to play. Additionally, the yard offers privacy, making it a peaceful and quiet oasis to enjoy. Overall, this is a fantastic option for those looking for a move-in ready property that combines both style and functionality. Don't miss your chance to make this beautiful home your own. Sq ft & rm sz approx.

Key facts

• Backyard patio
• One level living
• Quiet neighborhood

Tags

• ONE LEVEL LIVING
• FULLY FENCED BACKYARD
• BACKYARD PATIO
• QUIET NEIGHBORHOOD
• DESIRABLE BORDEN SCHOOLS

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-story home; Residential property
• Construction: Brick, vinyl siding, and frame construction; Slab foundation
• Exterior features: Fenced yard; Landscaped yard; Patio

Interior

• Kitchen: Eat-in kitchen; Dishwasher; Oven; Range
• Bedrooms: Two bedrooms on the first floor
• Bathrooms: Two full bathrooms on the first floor
• Interior features: Ceiling fans; Eat-in kitchen; Primary bedroom with bath; Main level primary bedroom; Open floor plan
• Laundry & utility: Main-level laundry room with extra storage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/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 $201k (12.6% below list).
• Recommended offer: $201k (12.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#507 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Market conditions: 26 active listings in the ZIP; 911 units permitted in Clark County in 2024 (133 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago 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.
• Current owner paid $180k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 8→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,084 (12.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.87% ✗
• Cap rate: 7.21%
• Cash-on-cash: 3.28%
• DSCR: 1.15
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $208,440
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Stark Dr	0.04mi	3/2.0	1,108 (+3%)	0mo	$215,000	$194	94
111 Vine Ct	0.05mi	3/2.0	1,054 (-2%)	7mo	$203,500	$193	88
118 Stark Dr	0.03mi	3/2.0	1,080 (0%)	16mo	$184,900	$171	86
236 Brewer Dr	0.19mi	3/2.0	1,148 (+6%)	0mo	$225,000	$196	80
203 Borden Ridge Dr	0.13mi	3/2.0	1,215 (+12%)	12mo	$235,000	$193	63
112 Mckinley Dr	0.35mi	4/1.0 (+1)	1,242 (+15%)	7mo	$204,000	$164	44
633 W Water St	0.72mi	3/1.0	1,200 (+11%)	8mo	$240,000	$200	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 26.6%
• Equity multiple: 3.12×
• Total profit: $136,400
• Equity at exit: $207,202

10-year hold

• IRR: 23.3%
• Equity multiple: 7.10×
• Total profit: $392,701
• Equity at exit: $446,839

Cash invested: $64,400 (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 47106

• Home prices YoY: 6.7%
• Active inventory: 26
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,011 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$111 /mo · $1,326/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $176

Break-even live

Break-even rent $1,788

Max offer price $230,000

Occupancy floor 86%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-11
   price $230,000
2. 2026-05-05
   listed $235,000 Active
3. 2023-05-24
   soldstatus $180,000 Closed 906-char remark

   Show marketing remark (906 chars)

   This charming ranch style home offers three bedrooms and two full bathrooms. The covered front porch is perfect for sipping your morning coffee while enjoying the view of the Borden Scenic hills and welcomes you into the home, offering a warm and inviting entrance. Once inside, you'll immediately notice the open concept layout, perfect for entertaining guests or simply enjoying the company of loved ones. The updated interior is flooded with natural light, making it feel bright and airy. The fenced-in yard is ideal for those with children or pets, providing a safe and secure space for them to play. Additionally, the yard offers privacy, making it a peaceful and quiet oasis to enjoy. Overall, this is a fantastic option for those looking for a move-in ready property that combines both style and functionality. Don't miss your chance to make this beautiful home your own. Sq ft & rm sz approx.

4. 2023-05-05
   status Pending 906-char remark

   Show marketing remark (906 chars)

   This charming ranch style home offers three bedrooms and two full bathrooms. The covered front porch is perfect for sipping your morning coffee while enjoying the view of the Borden Scenic hills and welcomes you into the home, offering a warm and inviting entrance. Once inside, you'll immediately notice the open concept layout, perfect for entertaining guests or simply enjoying the company of loved ones. The updated interior is flooded with natural light, making it feel bright and airy. The fenced-in yard is ideal for those with children or pets, providing a safe and secure space for them to play. Additionally, the yard offers privacy, making it a peaceful and quiet oasis to enjoy. Overall, this is a fantastic option for those looking for a move-in ready property that combines both style and functionality. Don't miss your chance to make this beautiful home your own. Sq ft & rm sz approx.

5. 2023-05-04
   listed $185,000 Active 906-char remark

   Show marketing remark (906 chars)

   This charming ranch style home offers three bedrooms and two full bathrooms. The covered front porch is perfect for sipping your morning coffee while enjoying the view of the Borden Scenic hills and welcomes you into the home, offering a warm and inviting entrance. Once inside, you'll immediately notice the open concept layout, perfect for entertaining guests or simply enjoying the company of loved ones. The updated interior is flooded with natural light, making it feel bright and airy. The fenced-in yard is ideal for those with children or pets, providing a safe and secure space for them to play. Additionally, the yard offers privacy, making it a peaceful and quiet oasis to enjoy. Overall, this is a fantastic option for those looking for a move-in ready property that combines both style and functionality. Don't miss your chance to make this beautiful home your own. Sq ft & rm sz approx.

6. 2011-05-24
   soldstatus $95,000

ⓘ 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: $1,326 · $111/mo
• Projected year-2 tax: $1,641 · $137/mo
• Expected delta: +$314/yr (+$26/mo · 23.7%)

ⓘ 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 5/10 Major 8 d/yr ≥104°F today · 21 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: $24,130
• − Mortgage interest: −$12,884
• − Property taxes: −$1,326
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − Depreciation: −$6,691
• Taxable loss: −$1,781
• Est. tax savings @ 24.0%: +$428
• After-tax cash flow: $2,540/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)

No district data.

Livability — Borden

• Score: 61/100
• State rank: #507
• US rank: #17982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Borden, IN
• Population (ZIP): 4,583

Population outlook (Clark County) Hauer SSP2

• Today (2025): 126,401 people
• By 2030: 131,455 · +4.0%
• By 2040: 140,471 · +11.1%
• By 2050: 147,677 · +16.8%
• By 2075: 161,702 · +27.9%
• By 2100: 164,078 · +29.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2%
• Common ancestry: Lithuanian 2% Serbian 2% Italian 2%
• Foreign-born: 0%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+20.4) · D 38.9% · R 59.3% · Other 1.8%
• 2008→2024 swing: -13.3pp toward R · 2008: -7.1pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+18.3 2016: R+22.0 2012: R+9.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.50%
• Current HPI: 344.4
• 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

+142.1% since first listed

6 events — show timeline

• 2026-05-11 Price Changed $230,000 SIRA
• 2026-05-05 Listed $235,000 SIRA
• 2023-05-24 Sold (MLS) $180,000 SIRA
• 2023-05-05 Pending — SIRA
• 2023-05-04 Listed $185,000 SIRA
• 2011-05-24 Sold (Public Records) $95,000 Public Records

Property tax history

-4.4%/yr

Latest (2024): $1,326 · +14.0% YoY. Source: county tax records.