2058 E State Road 26 Rd · Frankfort, IN 46041

$160,000

3 bd · 1.0 ba · 1,436 sqft · SingleFamily public records · 13 Days on market

Built 1900 10,237 sqft lot

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Why this score? — see what drove the D+ 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 +19.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +3.8/10.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the charm and potential of this classic 1900-built home at * * 2058 E State Road 26, Frankfort, IN 46041 * * . Boasting approximately * * 1,436 sq ft * * of living space, this 1 1/2-story gem features * * 2 bedrooms and 1 bath * * , offering a spacious and inviting layout. Nestled on a generous * * 0.26-acre lot, the property presents a rare opportunity to personalize and modernize to your own taste. Outside projects? No problem with the 24X24 pole barn. While the home has seen some updates, it’s brimming with potential—imagine transforming the open floor plan into your dream space. The surrounding area offers a peaceful rural setting, perfectly positioned b

Key facts

• 0.26 acre lot
• 24x24 pole barn
• 0.24 acre lot

Tags

• CLASSIC 1900 BUILT HOME
• 0.26 ACRE LOT
• 24X24 POLE BARN
• PEACEFUL RURAL SETTING

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Gravel and concrete parking
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence, site-built; One story
• Construction: Vinyl siding; Asphalt roof; Slab foundation; Built on a slab (year built not provided)
• Exterior features: Patio; Level lot; Outbuilding

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (propane); Window cooling units
• Interior features: Entrance foyer; Eat-in kitchen; Laminate counters; One fireplace
• Laundry & utility: Washer; Dryer; Electric dryer hookup on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/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 $141k (11.7% below list).
• Recommended offer: $141k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.9% in Frankfort — 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 73/100 on livability (#107 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Clinton Central School Corporation (rural): math 38% / reading 46% proficiency, ranked #112 of 301 in IN (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clinton Central Elementary School (math 49% / reading 45%, grade D-, #325 of 994 statewide, top 36%, 469 students, 57% FRL); Clinton Central Junior-Senior Hs (math 28% / reading 48%, grade F, #243 of 369 statewide, top 66%, 398 students, 45% FRL) — zoned schools average 51% FRL vs 33% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 129 active listings in the ZIP; 59 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Clinton County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $141,207 (11.7% below list)

Questions for the listing agent

1. Built in 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.88% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.72%
• DSCR: 1.21
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-14,779
• Equity at exit: $23,857

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $1,260
• Equity at exit: $13,834

Cash invested: $44,800 (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 46041

• Home prices YoY: -17.8%
• Active inventory: 129
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,412 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$34 /mo · $402/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $176

Break-even live

Break-even rent $1,189

Max offer price $160,000

Occupancy floor 83%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $160,000 Active 13 DOM
2. 2026-06-17
   days on market $160,000 Active 12 DOM
3. 2026-06-16
   days on market $160,000 Active 11 DOM
4. 2026-06-15
   days on market $160,000 Active 10 DOM
5. 2026-06-13
   days on market $160,000 Active 8 DOM
6. 2026-06-13
   days on market $160,000 Active 7 DOM
7. 2026-06-09
   days on market $160,000 Active 4 DOM
8. 2026-06-08
   days on market $160,000 Active 3 DOM
9. 2026-06-07
   remarks 687-char remark
10. 2026-06-07
    listed $160,000 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: $402 · $34/mo
• Projected year-2 tax: $881 · $73/mo
• Expected delta: +$479/yr (+$40/mo · 119.1%)

ⓘ 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: $16,945
• − Mortgage interest: −$8,962
• − Property taxes: −$402
• − Insurance: −$800
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$4,655
• Taxable loss: −$586
• Est. tax savings @ 24.0%: +$141
• After-tax cash flow: $2,256/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: Clinton Central School Corporation
• NCES district ID: 1802130
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $58,873
• Composite: 36.98/100
• National rank: #4526
• State rank: #112 of 301 in IN

Livability — Frankfort

• Score: 73/100
• State rank: #107
• US rank: #5623

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 23,359

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 31,197 people
• By 2030: 30,257 · -3.0%
• By 2040: 28,383 · -9.0%
• By 2050: 26,644 · -14.6%
• By 2075: 23,858 · -23.5%
• By 2100: 22,236 · -28.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 24% Two or more races 11%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada, Philippines
• Languages at home: 86% English-only · Spanish 14%

Political lean MEDSL · Clinton

• 2024 margin: Solid R (+48.0) · D 25.2% · R 73.2% · Other 1.6%
• 2008→2024 swing: -35.0pp toward R · 2008: -13.0pp · 2024: -48.0pp
• All cycles: 2024: R+48.0 2020: R+46.1 2016: R+48.0 2012: R+30.7 2008: R+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.02%
• Current HPI: 263.2258
• 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

• 2026-06-05 Listed $160,000 IRMLS

Property tax history

+1.5%/yr

Latest (2024): $402 · -27.6% YoY. Source: county tax records.