7285 Locust Rd · Tell City, IN 47586

$59,900

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 360 Days on market

Built 1957 6.43 ac lot ↓ 26% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bdr 2bath home is situated in a private country setting. Home has been updated and is move in ready. Outdoor wood burner included! Must See!!

Key facts

• Large living room
• Private wooded lot
• 6.43 acre lot

Tags

• PRIVATE WOODED LOT
• LARGE LIVING ROOM
• SPACIOUS EAT-IN KITCHEN
• SEPARATE LAUNDRY AREA

Property features AI

Finance

• Other: Property sits on approximately 6.43 acres; Irregular, sloped, wooded lot

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Septic tank
• Home design: Single-family residence; Site-built home; One story
• Construction: Wood siding
• Exterior features: Covered porch

Interior

• Bathrooms: One full bathroom; One half bathroom; Two bathrooms on the main level
• Heating & cooling: Propane heating; Central air conditioning
• Interior features: Total of 5 rooms; Crawl space basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#60 in IN, #4,053 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D, amenities F, commute F.
• Perry Central Community Schools Corporation (rural): math 44% / reading 54% proficiency, ranked #62 of 301 in IN (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Perry Central Elementary School (math 45% / reading 51%, grade D, #314 of 994 statewide, top 32%, 703 students, 43% FRL); Perry Central Jr-Sr High School (math 43% / reading 58%, grade D+, #117 of 369 statewide, top 32%, 582 students, 41% FRL).
• Market conditions: 29 active listings in the ZIP; 31 units permitted in Perry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Perry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 360 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y ago; this cycle's ask has dropped $80k (57%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 360 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.01% ✓
• Cap rate: 15.19%
• Cash-on-cash: 31.77%
• DSCR: 2.41
• GRM: 4.2

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: 26.8%
• Equity multiple: 2.11×
• Total profit: $18,646
• Equity at exit: $8,931

10-year hold

• IRR: 34.4%
• Equity multiple: 4.16×
• Total profit: $52,953
• Equity at exit: $5,179

Cash invested: $16,772 (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 47586

• Home prices YoY: -22.5%
• Active inventory: 29
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,203 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$167 /mo · $2,004/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $444

Break-even live

Break-even rent $641

Max offer price $59,900

Occupancy floor 58%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-18
   days on market $59,900 Active 360 DOM
2. 2026-06-17
   days on market $59,900 Active 359 DOM
3. 2026-06-16
   days on market $59,900 Active 358 DOM
4. 2026-06-15
   days on market $59,900 Active 357 DOM
5. 2026-06-13
   days on market $59,900 Active 355 DOM
6. 2026-06-12
   days on market $59,900 Active 354 DOM
7. 2026-06-09
   days on market $59,900 Active 351 DOM
8. 2026-06-08
   days on market $59,900 Active 350 DOM
9. 2026-06-07
   days on market $59,900 Active 349 DOM
10. 2026-06-05
    days on market $59,900 Active 347 DOM
11. 2026-06-04
    days on market $59,900 Active 345 DOM
12. 2026-06-02
    days on market $59,900 Active 344 DOM
13. 2026-06-01
    days on market $59,900 Active 343 DOM
14. 2026-05-31
    days on market $59,900 Active 342 DOM
15. 2026-05-31
    days on market $59,900 Active 341 DOM
16. 2026-05-07
    status Active
17. 2026-05-07
    historical
18. 2026-04-27
    price $62,700
19. 2026-04-22
    status Active
20. 2026-03-20
    status Pending
21. 2026-02-16
    price $65,900
22. 2026-01-16
    price $71,500
23. 2025-12-15
    price $74,900
24. 2025-12-01
    status Active
25. 2025-11-19
    price $77,900
26. 2025-11-10
    price $79,900
27. 2025-10-10
    price $84,900
28. 2025-09-29
    price $94,900
29. 2025-08-29
    price $97,000
30. 2025-07-25
    price $99,900
31. 2025-07-21
    price $99,000
32. 2025-07-04
    price $129,000
33. 2025-06-19
    price $134,900
34. 2025-05-21
    listed $139,900 Active
35. 2025-04-17
    listed $142,000 Active
36. 2025-03-28
    soldstatus $87,693
37. 2014-06-17
    soldstatus $78,000 148-char remark

    Show marketing remark (148 chars)

    This 3 bdr 2bath home is situated in a private country setting. Home has been updated and is move in ready. Outdoor wood burner included! Must See!!

38. 2013-10-17
    listed $84,700 148-char remark

    Show marketing remark (148 chars)

    This 3 bdr 2bath home is situated in a private country setting. Home has been updated and is move in ready. Outdoor wood burner included! Must See!!

ⓘ 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: $2,004 · $167/mo
• Projected year-2 tax: $2,004 · $167/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,432
• − Mortgage interest: −$3,355
• − Property taxes: −$2,004
• − Insurance: −$300
• − Repairs & maintenance: −$1,155
• − Management: −$1,155
• − Depreciation: −$1,743
• Taxable income: $4,721
• Est. tax owed @ 24.0%: −$1,133
• After-tax cash flow: $4,195/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: Perry Central Community Schools Corporation
• NCES district ID: 1801740
• Math proficiency: 44% ▼ -6.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $53,690
• Composite: 42.27/100
• National rank: #3269
• State rank: #62 of 301 in IN

Livability — Tell City

• Score: 75/100
• State rank: #60
• US rank: #4053

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,994

Population outlook (Perry County) Hauer SSP2

• Today (2025): 19,125 people
• By 2030: 18,912 · -1.1%
• By 2040: 18,239 · -4.6%
• By 2050: 17,402 · -9.0%
• By 2075: 15,420 · -19.4%
• By 2100: 11,987 · -37.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 1% Asian 1%
• Common ancestry: Lithuanian 3% Italian 1% English 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Other Asian/Pacific 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Perry

• 2024 margin: Strong R (+29.8) · D 34.3% · R 64.0% · Other 1.7%
• 2008→2024 swing: -52.6pp toward R · 2008: 22.8pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+24.6 2016: R+18.6 2012: D+11.6 2008: D+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.86%
• Current HPI: 196.1925
• 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

-26.0% since first listed

23 events — show timeline

• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-27 Price Changed $62,700 IRMLS
• 2026-04-22 Relisted — IRMLS
• 2026-03-20 Pending — IRMLS
• 2026-02-16 Price Changed $65,900 IRMLS
• 2026-01-16 Price Changed $71,500 IRMLS
• 2025-12-15 Price Changed $74,900 IRMLS
• 2025-12-01 Relisted — IRMLS
• 2025-11-19 Price Changed $77,900 IRMLS
• 2025-11-10 Price Changed $79,900 IRMLS
• 2025-10-10 Price Changed $84,900 IRMLS
• 2025-09-29 Price Changed $94,900 IRMLS
• 2025-08-29 Price Changed $97,000 IRMLS
• 2025-07-25 Price Changed $99,900 IRMLS
• 2025-07-21 Price Changed $99,000 IRMLS
• 2025-07-04 Price Changed $129,000 IRMLS
• 2025-06-19 Price Changed $134,900 IRMLS
• 2025-05-21 Listed $139,900 IRMLS
• 2025-04-17 Listed $142,000 IRMLS
• 2025-03-28 Sold (Public Records) $87,693 Public Records
• 2014-06-17 Sold (MLS) $78,000 IRMLS
• 2013-10-17 Listed $84,700 IRMLS

Property tax history

+16.4%/yr

Latest (2024): $2,004 · +193.4% YoY. Source: county tax records.