104 E High St · Wingate, IN 47994

$70,000

3 bd · 1.0 ba · 1,311 sqft · SingleFamily public records · 76 Days on market

Built 1975 0.30 ac lot Est $138k · 49% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.3/10.0
• Schools +4.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.3 acre lot
• Built 1975
• Listed 75 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Manufactured home (residential); Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Level lot; Lot approximately 80 x 164 (about 0.303 acre)

Interior

• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Crawl space basement; Total of 6 rooms
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#585 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime D+, amenities F, commute F.
• North Montgomery Community School Corporation (rural): math 47% / reading 53% proficiency, ranked #50 of 301 in IN (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pleasant Hill Elementary School (math 57% / reading 57%, grade C+, #172 of 994 statewide, top 18%, 294 students, 33% FRL); North Montgomery High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 516 students, 34% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 4 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($484 loan paydown + $3k appreciation (4.6% local appreciation)).
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.54% ✓
• Cap rate: 13.83%
• Cash-on-cash: 26.92%
• DSCR: 2.20
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $137,655
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 S Mcclure St	0.06mi	3/1.0	1,192 (-9%)	19mo	$125,000	$105	66
100 N Main Cross St	0.12mi	2/1.0 (-1)	1,466 (+12%)	23mo	$92,500	$63	50

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

Projected returns pro-forma

4.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.8%
• Equity multiple: 3.18×
• Total profit: $42,642
• Equity at exit: $38,103

10-year hold

• IRR: 34.4%
• Equity multiple: 6.38×
• Total profit: $105,375
• Equity at exit: $64,500

Cash invested: $19,600 (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 47994

• Home prices YoY: 1.9%
• Active inventory: 4
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,075 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$13 /mo · $159/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $440

Break-even live

Break-even rent $518

Max offer price $70,000

Occupancy floor 54%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 N Vine St Wingate, IN	2.0	1.0	1000	$1,075	$1.07	21d	1	0.07mi

Listing history 17 events

1. 2026-06-19
   days on market $70,000 Active 76 DOM
2. 2026-06-18
   days on market $70,000 Active 75 DOM
3. 2026-06-17
   days on market $70,000 Active 74 DOM
4. 2026-06-16
   days on market $70,000 Active 73 DOM
5. 2026-06-15
   days on market $70,000 Active 72 DOM
6. 2026-06-14
   days on market $70,000 Active 70 DOM
7. 2026-06-13
   days on market $70,000 Active 69 DOM
8. 2026-06-10
   days on market $70,000 Active 68 DOM
9. 2026-06-09
   days on market $70,000 Active 67 DOM
10. 2026-06-08
    days on market $70,000 Active 66 DOM
11. 2026-06-07
    days on market $70,000 Active 65 DOM
12. 2026-06-05
    pricedays on market $70,000 Active 62 DOM
13. 2026-06-02
    days on market $85,000 Active 60 DOM
14. 2026-06-01
    days on market $85,000 Active 59 DOM
15. 2026-05-31
    days on market $85,000 Active 58 DOM
16. 2026-05-30
    days on market $85,000 Active 57 DOM
17. 2026-04-03
    listed $85,000 Active

ⓘ 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: $159 · $13/mo
• Projected year-2 tax: $377 · $31/mo
• Expected delta: +$218/yr (+$18/mo · 137.4%)

ⓘ 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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,900
• − Mortgage interest: −$3,921
• − Property taxes: −$159
• − Insurance: −$350
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$2,036
• Taxable income: $4,370
• Est. tax owed @ 24.0%: −$1,049
• After-tax cash flow: $4,228/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: North Montgomery Community School Corporation
• NCES district ID: 1807900
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 53% ▲ 3.00%
• Median HH income: $53,844
• Composite: 43.14/100
• National rank: #3076
• State rank: #50 of 301 in IN

Livability — Wingate

• Score: 58/100
• State rank: #585
• US rank: #20975

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wingate, IN
• Population (ZIP): 510

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 37,893 people
• By 2030: 37,539 · -0.9%
• By 2040: 36,536 · -3.6%
• By 2050: 34,454 · -9.1%
• By 2075: 28,852 · -23.9%
• By 2100: 21,145 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Iranian 6% Serbian 2% German 1%
• Foreign-born: 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+48.2) · D 24.9% · R 73.2% · Other 1.9%
• 2008→2024 swing: -28.3pp toward R · 2008: -19.9pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+49.1 2016: R+50.9 2012: R+38.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.63%
• Current HPI: 243.9192
• 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

• 2026-04-03 Listed $85,000 IRMLS

Property tax history

+4.2%/yr

Latest (2025): $159 · -34.8% YoY. Source: county tax records.