103 Market St. St · Williamsport, IN 47993

$74,900

1 bd · 1.0 ba · 576 sqft · SingleFamily public records · 51 Days on market

Built 1956 8,712 sqft lot $130/sqft · 55% above area

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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 +25.2/30.0
• Appreciation +8.4/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 576 sq. ft. cottage offering a fantastic opportunity for a savvy investor or DIY enthusiast! This cozy home sits on a deep lot featuring a large, level backyard—perfect for gardening, a fire pit, or even future expansion. With some thoughtful updates and a little vision, you can easily polish this gem to its full potential. Whether you're looking for a manageable rental or a tiny-home retreat, this value-add property is a must-see.

Key facts

• Future expansion
• Deep lot
• Large level backyard

Tags

• DEEP LOT
• LARGE LEVEL BACKYARD
• FUTURE EXPANSION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($799 rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#59 in IN, #4,014 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools D+, amenities F.
• Market conditions: 1 comparable units currently listed for rent nearby; 27 units permitted in Warren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($518 loan paydown + $5k appreciation (6.8% local appreciation)).
• Warren County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.07% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.60%
• DSCR: 1.43
• GRM: 7.8

CMA / ARV

• ARV (median comp): $220,000
• List price: $74,900
• Delta: 18.14%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 Market St. St	0.00mi	1/1.0	576 (0%)	1mo	$70,000	$122	99

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

Projected returns pro-forma

6.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 2.72×
• Total profit: $36,061
• Equity at exit: $51,097

10-year hold

• IRR: 23.1%
• Equity multiple: 5.62×
• Total profit: $96,863
• Equity at exit: $96,338

Cash invested: $20,972 (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 47993

• Home prices YoY: 2.9%
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $799 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$39 /mo · $473/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $168

Break-even live

Break-even rent $587

Max offer price $74,900

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 Brown St Williamsport, IN	2.0	1.0	721	$799	$1.11	13d	1	1.33mi

Listing history 3 events

1. 2026-05-13
   status Pending 450-char remark

   Show marketing remark (450 chars)

   Charming 576 sq. ft. cottage offering a fantastic opportunity for a savvy investor or DIY enthusiast! This cozy home sits on a deep lot featuring a large, level backyard—perfect for gardening, a fire pit, or even future expansion. With some thoughtful updates and a little vision, you can easily polish this gem to its full potential. Whether you're looking for a manageable rental or a tiny-home retreat, this value-add property is a must-see.

2. 2026-03-23
   listed $74,900 Active 450-char remark

   Show marketing remark (450 chars)

   Charming 576 sq. ft. cottage offering a fantastic opportunity for a savvy investor or DIY enthusiast! This cozy home sits on a deep lot featuring a large, level backyard—perfect for gardening, a fire pit, or even future expansion. With some thoughtful updates and a little vision, you can easily polish this gem to its full potential. Whether you're looking for a manageable rental or a tiny-home retreat, this value-add property is a must-see.

3. 2026-03-23
   listed $259,900 Active

   Show marketing remark (450 chars)

   Charming 576 sq. ft. cottage offering a fantastic opportunity for a savvy investor or DIY enthusiast! This cozy home sits on a deep lot featuring a large, level backyard—perfect for gardening, a fire pit, or even future expansion. With some thoughtful updates and a little vision, you can easily polish this gem to its full potential. Whether you're looking for a manageable rental or a tiny-home retreat, this value-add property is a 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: $473 · $39/mo
• Projected year-2 tax: $555 · $46/mo
• Expected delta: +$82/yr (+$7/mo · 17.3%)

ⓘ 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 ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,588
• − Mortgage interest: −$4,196
• − Property taxes: −$473
• − Insurance: −$374
• − Repairs & maintenance: −$767
• − Management: −$767
• − Depreciation: −$2,179
• Taxable income: $832
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $1,814/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 — Williamsport

• Score: 75/100
• State rank: #59
• US rank: #4014

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Williamsport, IN
• Population (ZIP): 3,667

Population outlook (Warren County) Hauer SSP2

• Today (2025): 7,692 people
• By 2030: 7,331 · -4.7%
• By 2040: 6,581 · -14.4%
• By 2050: 5,853 · -23.9%
• By 2075: 4,692 · -39.0%
• By 2100: 3,985 · -48.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Slovak 3% Portuguese 2% Italian 1%
• Foreign-born: 1%

Political lean MEDSL · Warren

• 2024 margin: Solid R (+57.3) · D 20.6% · R 77.8% · Other 1.6%
• 2008→2024 swing: -47.0pp toward R · 2008: -10.3pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+54.3 2016: R+52.5 2012: R+27.7 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.84%
• Current HPI: 245.607
• 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

-71.2% since first listed

3 events — show timeline

• 2026-05-13 Pending — IRMLS
• 2026-03-23 Listed $74,900 IRMLS
• 2026-03-23 Listed $259,900 IRMLS

Property tax history

+2.3%/yr

Latest (2024): $473 · +13.1% YoY. Source: county tax records.