511 E Jefferson St · Hymera, IN 47855

$55,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 3 Days on market

Built 1930 0.63 ac lot Est $65k · 16% under

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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 +25.8/30.0
• ARV discount +14.6/15.0
• DSCR +8.6/10.0
• 1% rule +6.8/10.0
• Livability +2.9/5.0
• Schools +2.7/10.0
• Appreciation +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great investment opportunity or affordable starter home in Hymera! This 2 bedroom, 1 bath sits on two spacious corner lots and features a detached one car garage plus a shed for extra storage. There's also an out building that's fenced in that would be great for chickens. Home is located on a quiet street just minutes from the elementary school and local shopping. Plenty of potential with room to grow with small town comfort.

Key facts

• Quiet street
• Extra storage
• Spacious corner lots

Tags

• SPACIOUS CORNER LOTS
• DETACHED GARAGE
• EXTRA STORAGE
• FENCED IN OUT BUILDING
• QUIET STREET
• MINUTES FROM ELEMENTARY SCHOOL

Property features AI

Exterior

• Parking: Detached gravel garage; 1 garage space
• Security: Smoke detector(s)
• Utilities: Public sewer
• Home design: Single-family residence; One story
• Construction: Metal siding; Shingle roof
• Exterior features: Covered porch/patio; Outbuilding; Shed(s)

Interior

• Kitchen: Electric range; Electric oven; Refrigerator; Dishwasher not listed
• Bedrooms: 6 total rooms (bedroom count not specified)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas heating
• Interior features: Window coverings; Storm windows; Smoke detector(s)
• Laundry & utility: Washer; Dryer; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($650 rent vs $55k).

Location & tenants

• Location reads 57/100 on livability (#602 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Northeast School Corporation (rural): math 29% / reading 34% proficiency, ranked #228 of 301 in IN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Central Jr/Sr High School (math 12% / reading 32%, grade F, #343 of 369 statewide, top 93%, 374 students, 55% FRL).
• Market conditions: 5 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Sullivan County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1930 — 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. Crime grade is D 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?
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: 1.18% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.40%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $65,280
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
511 E Jefferson St	0.00mi	2/1.0	960 (0%)	0mo	$65,000	$68	100

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-406
• Equity at exit: $8,201

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $10,627
• Equity at exit: $4,755

Cash invested: $15,400 (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 47855

• Home prices YoY: -3.9%
• Active inventory: 5
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $650 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$136
• Net cashflow: $133

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 74%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 S Main St Hymera, IN	1.0	1.0	600	$650	$1.08	23d	1	0.32mi

Listing history 1 events

1. 2026-05-26
   listed $55,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $7,800
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$624
• − Management: −$624
• − Depreciation: −$1,600
• Taxable income: $771
• Est. tax owed @ 24.0%: −$185
• After-tax cash flow: $1,416/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: Northeast School Corporation
• NCES district ID: 1808160
• Math proficiency: 29% ▼ -10.00%
• Reading proficiency: 34% ▼ -7.00%
• Median HH income: $45,565
• Composite: 27.01/100
• National rank: #7061
• State rank: #228 of 301 in IN

Livability — Hymera

• Score: 57/100
• State rank: #602
• US rank: #21546

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hymera, IN
• City population: 835
• Population (ZIP): 835

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 20,313 people
• By 2030: 19,908 · -2.0%
• By 2040: 19,009 · -6.4%
• By 2050: 17,972 · -11.5%
• By 2075: 14,929 · -26.5%
• By 2100: 11,391 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Slovak 6% Lithuanian 4% Serbian 1%
• Languages at home: 99% English-only · Korean 1%

Political lean MEDSL · Sullivan

• 2024 margin: Solid R (+52.7) · D 22.8% · R 75.5% · Other 1.7%
• 2008→2024 swing: -52.0pp toward R · 2008: -0.7pp · 2024: -52.7pp
• All cycles: 2024: R+52.7 2020: R+50.5 2016: R+47.0 2012: R+20.6 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.86%
• Current HPI: 120.0684
• 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

• 2026-05-26 Listed $55,000 THAAR