111 W Chestnut St · Crawfordsville, IN 47933

$84,900

1 bd · 1.0 ba · 784 sqft · SingleFamily public records · 95 Days on market

Built 1900 4,748 sqft lot Est $147k · 42% under

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Why this score? — see what drove the C- 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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +5.0/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Why rent? This 2 bedroom, 1 bath home is centrally located close to schools, parks, trail and shopping. Laundry hookups, kitchen appliances can be included. Some updates have been done over the years, your personal touch is all that's needed.

Key facts

• 4,748 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Detached garage (1 car, approximately 216 sq ft)
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Cellar foundation
• Exterior features: Yard on a 0.11-acre lot; Faces north

Interior

• Kitchen: No appliances included
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Window unit(s) for cooling
• Interior features: Attic access; Cellar (basement present)
• Laundry & utility: Laundry connections (some)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $59 ($702/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (0.0% below list).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 3.5% in Crawfordsville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#118 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: commute D+, amenities F, employment D-.
• Crawfordsville Community Schools (town): math 27% / reading 32% proficiency, ranked #247 of 301 in IN (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Crawfordsville Sr High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 692 students, 58% FRL) — zoned schools at 58% FRL track the district average.
• Zoned-school proficiency averages 47% at this address vs 30% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Crawfordsville Community Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.3%/yr); 203 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($68k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,259 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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?
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: 1.00% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.95%
• DSCR: 1.13
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $146,608
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 E Chestnut St	0.24mi	2/1.0 (+1)	720 (-8%)	1mo	$145,000	$201	69
302 Lincoln St	0.21mi	2/1.0 (+1)	860 (+10%)	4mo	$165,700	$193	66
817 S Green St	0.14mi	2/1.0 (+1)	720 (-8%)	20mo	$126,000	$175	58
411 Vandalia Ct	0.49mi	2/1.0 (+1)	720 (-8%)	4mo	$134,900	$187	55
308 Russell Ave	0.59mi	2/1.0 (+1)	704 (-10%)	11mo	$130,000	$185	41
805 E Elmore St	0.61mi	2/1.0 (+1)	720 (-8%)	15mo	$131,900	$183	40

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

Projected returns pro-forma

-3.0% appreciation · 3.28% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.59×
• Total profit: $-9,762
• Equity at exit: $12,659

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-2,595
• Equity at exit: $7,341

Cash invested: $23,772 (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 47933

• Home prices YoY: -27.1%
• Rents YoY: 3.3%
• Active inventory: 203
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $849 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$131 /mo · $1,578/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $59

Break-even live

Break-even rent $775

Max offer price $84,900

Occupancy floor 88%

Sensitivity live

Price	-10% $107	-5% $83	+0% $59	+5% $34	+10% $10
Rent	-10% $-9	-5% $25	+0% $59	+5% $92	+10% $126
Rate	-1.0pp $101	-0.5pp $80	base $59	+0.5pp $37	+1.0pp $14

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 E Pike St Crawfordsville, IN	1.0	1.0	375	$675	$1.80	21d	3	0.46mi
923 Indian Springs Rd Crawfordsville, IN	2.0	1.5	1000	$1,089	$1.09	14d	3	1.33mi
200 Knoll Cir Crawfordsville, IN	1.0–2.0	1.0–2.0	821	$999	$1.22	14d	9	1.50mi

Listing history 6 events

1. 2026-06-01
   days on market $84,900 Active 95 DOM
2. 2026-05-31
   days on market $84,900 Active 94 DOM
3. 2026-05-30
   days on market $84,900 Active 93 DOM
4. 2026-02-26
   listed $84,900 Active
5. 2024-01-07
   historical $900
6. 2023-12-24
   listed $900

ⓘ 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: $1,578 · $131/mo
• Projected year-2 tax: $1,578 · $131/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $10,187
• − Mortgage interest: −$4,756
• − Property taxes: −$1,578
• − Insurance: −$424
• − Repairs & maintenance: −$815
• − Management: −$815
• − Depreciation: −$2,470
• Taxable loss: −$671
• Est. tax savings @ 24.0%: +$161
• After-tax cash flow: $863/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: Crawfordsville Community Schools
• NCES district ID: 1802460
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 32% ▼ -6.00%
• Median HH income: $39,087
• Composite: 24.73/100
• National rank: #7606
• State rank: #247 of 301 in IN

Livability — Crawfordsville

• Score: 72/100
• State rank: #118
• US rank: #6376

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crawfordsville, IN
• County: Montgomery County · 28,357 people
• City population: 28,357
• Metro: Crawfordsville, IN
• Population (ZIP): 28,357
• Household income: $68,130
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 464.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6%

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: ▼ -78.91%
• Current HPI: 211.6864
• Rent YoY: ▲ 3.28%
• Metro: Crawfordsville, IN
• 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

3 events — show timeline

• 2026-02-26 Listed $84,900 MIBOR as Distributed by MLS Grid
• 2024-01-07 Rental Removed $900 APPFOLIO
• 2023-12-24 Listed for Rent $900 APPFOLIO

Property tax history

+25.5%/yr

Latest (2025): $1,578 · +37.4% YoY. Source: county tax records.