206 North St · Lewisville, IN 47352

$125,000

3 bd · 1.5 ba · 903 sqft · SingleFamily public records · 3 Days on market

Built 1955 0.62 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Beautiful single family ranch style home. This house features 3 bedrooms, 1.5 baths. The living space is 903 square feet and features 728 square ft. 2 car attached garage with finished drywall. Vaulted ceilings in the living room and master bedroom. The master bedroom also features a walk-in closet. A new furnace and air conditioning system were installed in 2010. A new dimensional shingled roof was installed in 2014. Refrigerator, dishwasher, range, microwave, washer and dryer included. Solid oak cabinets and trim throughout the entire house. Peaceful backyard rests on the town line with beautiful views of rolling hay fields and tree lines and includes a stone fire pit, basketball court and 10x16 custom built storage shed with electrical outlets, lighting, and 2 storage lofts.

Key facts

• Covered front porch
• New privacy fence
• Open concept kitchen

Tags

• COVERED FRONT PORCH
• OPEN BACK PATIO
• NEW PRIVACY FENCE
• PLENTY OF YARD
• OPEN CONCEPT KITCHEN
• EASY ACCESS TO US 40

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Attached garage with driveway; Two garage spaces
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family residence (site-built); One story
• Construction: Vinyl siding; Block foundation; Asphalt roof; Built as site-built home
• Exterior features: Covered porch; Covered patio; Chain-link fencing (full); Sloped lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric range
• Flooring: Carpet; Tile
• Bathrooms: One full bathroom; One half bathroom; Two main-level bathrooms
• Heating & cooling: Propane forced-air heating; Central air conditioning
• Interior features: Laminate counters; One fireplace
• Laundry & utility: Main-level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).

Location & tenants

• Location reads 62/100 on livability (#464 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D, amenities F.
• South Henry School Corporation (rural): math 25% / reading 27% proficiency, ranked #258 of 301 in IN (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Tri Elementary School (math 37% / reading 22%, grade F, #697 of 994 statewide, top 73%, 315 students, 55% FRL) — zoned schools average 55% FRL vs 35% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 10 active listings in the ZIP; 47 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($864 loan paydown + $4k appreciation (3.6% local appreciation)).
• Henry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 10y ago 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.
• Current owner paid $90k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1955 — 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 F-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: 1.30% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.44%
• DSCR: 1.78
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.59% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.47×
• Total profit: $51,352
• Equity at exit: $60,386

10-year hold

• IRR: 25.3%
• Equity multiple: 4.79×
• Total profit: $132,639
• Equity at exit: $96,451

Cash invested: $35,000 (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 47352

• Home prices YoY: 1.6%
• Active inventory: 10
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,624 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$67 /mo · $802/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $509

Break-even live

Break-even rent $980

Max offer price $125,000

Occupancy floor 64%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-09
   status $125,000 Pending 3 DOM
2. 2026-06-08
   days on market $125,000 Active 3 DOM
3. 2026-06-07
   remarks 421-char remark
4. 2026-06-07
   listed $125,000 Active 2 DOM

ⓘ 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: $802 · $67/mo
• Projected year-2 tax: $932 · $78/mo
• Expected delta: +$130/yr (+$11/mo · 16.3%)

ⓘ 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 ≥100°F today · 18 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: $19,489
• − Mortgage interest: −$7,002
• − Property taxes: −$802
• − Insurance: −$625
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − Depreciation: −$3,636
• Taxable income: $4,306
• Est. tax owed @ 24.0%: −$1,033
• After-tax cash flow: $5,070/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: South Henry School Corporation
• NCES district ID: 1810380
• Math proficiency: 25% ▼ -15.00%
• Reading proficiency: 27% ▼ -14.00%
• Median HH income: $47,772
• Composite: 22.67/100
• National rank: #8045
• State rank: #258 of 301 in IN

Livability — Lewisville

• Score: 62/100
• State rank: #464
• US rank: #16379

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisville, IN
• Population (ZIP): 823

Population outlook (Henry County) Hauer SSP2

• Today (2025): 48,028 people
• By 2030: 47,125 · -1.9%
• By 2040: 44,820 · -6.7%
• By 2050: 42,207 · -12.1%
• By 2075: 35,814 · -25.4%
• By 2100: 26,779 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Serbian 2% Portuguese 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+47.7) · D 25.3% · R 73.0% · Other 1.7%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.9pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.2 2016: R+43.7 2012: R+17.0 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.59%
• Current HPI: 230.5852
• 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

+25.1% since first listed

8 events — show timeline

• 2026-06-04 Listed $125,000 MIBOR as Distributed by MLS Grid
• 2026-06-04 Listed $125,000 IRMLS
• 2016-10-07 Sold (MLS) $90,500 MIBOR as Distributed by MLS Grid
• 2016-10-07 Sold (MLS) $90,500 IRMLS
• 2016-10-07 Sold (MLS) $90,500 RRELMS
• 2016-07-14 Listed $99,900 MIBOR as Distributed by MLS Grid
• 2016-07-14 Listed $99,900 IRMLS
• 2016-07-14 Listed $99,900 RRELMS

Property tax history

+10.1%/yr

Latest (2024): $802 · +18.9% YoY. Source: county tax records.