103 W Wilson St

Bryant, IN 47326

$130,000D

2 bd · 2.0 ba · 1,200 sqft · Built 1998 · SingleFamily · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,018/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$217
• HOA: −$0
• Vac / Maint / Mgmt: −$214
• Net cashflow: $-94/mo
• Annual: $-1,130/yr
• Cap rate: 5.42%
• Cash-on-cash: -3.10%
• DSCR: 0.86
• 1% rule: 0.78%
• Cash to close: $36,400

Investor read

• This is a 2-bed/2.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (21.7% below list).
• It's been on market 25 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (21.7% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($899 loan paydown + $7k appreciation (5.6% local appreciation)).
• Location reads 57/100 on livability (#610 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety D, crime F, amenities F.
• Jay School Corporation (rural): math 38% / reading 37% proficiency, ranked #175 of 301 in IN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bloomfield Elementary School (math 52% / reading 32%, grade F, #434 of 994 statewide, top 48%, 288 students, 41% FRL); Jay County Jr/Sr High School (math 34% / reading 41%, grade F, #245 of 369 statewide, top 67%, 1,242 students, 50% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: 11 active listings in the ZIP; 19 units permitted in Jay County in 2024 (0 in 5+ unit buildings).
• Jay County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?
• 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.
• 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.
• 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.