103 Market St. St

Williamsport, IN 47993

$74,900B-

1 bd · 1.0 ba · 576 sqft · Built 1956 · SingleFamily · Pending · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $799/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$168
• Net cashflow: $168/mo
• Annual: $2,013/yr
• Cap rate: 8.98%
• Cash-on-cash: 9.60%
• DSCR: 1.43
• 1% rule: 1.07%
• Cash to close: $20,972

Investor read

• This is a 1-bed/1.0-bath single-family listed at $75k.
• 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).
• It's been on market 51 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($518 loan paydown + $5k appreciation (6.8% local appreciation)).
• 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.
• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 comparable units currently listed for rent nearby; 27 units permitted in Warren County in 2024 (0 in 5+ unit buildings).
• Warren County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• 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.

Questions for listing agent

• 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?
• Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.