233 W Main St · Medora, IN 47260

$49,900

3 bd · 1.0 ba · 672 sqft · SingleFamily public records · 142 Days on market

Built 1950 4,792 sqft lot $74/sqft · 54% below area ↓ 17% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Investment property. Sold in As-Is condition. Cash only sale. Any items on property day of closing remain with the property and the sale.

Key facts

• 4,792 sq ft lot
• Garage
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($931 rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#332 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety D, schools F.
• Medora Community School Corporation (rural): math 20% / reading 25% proficiency, ranked #305 of 324 in IN (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 9 active listings in the ZIP; 101 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($345 loan paydown + $3k appreciation (6.4% local appreciation)).
• Jackson County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.4% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 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 142 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.87% ✓
• Cap rate: 16.34%
• Cash-on-cash: 35.87%
• DSCR: 2.60
• GRM: 4.5

CMA / ARV

• ARV (median comp): $107,401
• List price: $49,900
• Delta: -53.54%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

6.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.5%
• Equity multiple: 3.47×
• Total profit: $34,538
• Equity at exit: $32,694

10-year hold

• IRR: 34.6%
• Equity multiple: 7.21×
• Total profit: $86,707
• Equity at exit: $60,468

Cash invested: $13,972 (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 47260

• Home prices YoY: 2.6%
• Active inventory: 9
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $931 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$36 /mo · $428/yr
• Insurance: −$21
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $295

Break-even live

Break-even rent $558

Max offer price $49,900

Occupancy floor 63%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-31
   days on market $49,900 Active 142 DOM
2. 2026-05-30
   days on market $49,900 Active 141 DOM
3. 2026-04-28
   price $49,900 137-char remark

   Show marketing remark (137 chars)

   Investment property. Sold in As-Is condition. Cash only sale. Any items on property day of closing remain with the property and the sale.

4. 2026-01-08
   listed $69,900 Active 137-char remark

   Show marketing remark (137 chars)

   Investment property. Sold in As-Is condition. Cash only sale. Any items on property day of closing remain with the property and the sale.

5. 2025-11-25
   historical
6. 2025-09-26
   listed $60,000 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: $428 · $36/mo
• Projected year-2 tax: $428 · $36/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 5/10 Major FEMA zone AO · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,177
• − Mortgage interest: −$2,795
• − Property taxes: −$428
• − Insurance: −$1,717
• − Repairs & maintenance: −$894
• − Management: −$894
• − Depreciation: −$1,452
• Taxable income: $2,997
• Est. tax owed @ 24.0%: −$719
• After-tax cash flow: $2,825/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: Medora Community School Corporation
• NCES district ID: 1801230
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $37,263
• Composite: 21.9/100
• National rank: #13557
• State rank: #305 of 324 in IN

Livability — Medora

• Score: 65/100
• State rank: #332
• US rank: #12847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Medora, IN
• Population (ZIP): 1,909

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 46,376 people
• By 2030: 47,344 · +2.1%
• By 2040: 48,936 · +5.5%
• By 2050: 49,738 · +7.2%
• By 2075: 50,435 · +8.8%
• By 2100: 46,321 · -0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Serbian 1% Slovak 1% Subsaharan African 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+55.3) · D 21.5% · R 76.8% · Other 1.7%
• 2008→2024 swing: -41.6pp toward R · 2008: -13.7pp · 2024: -55.3pp
• All cycles: 2024: R+55.3 2020: R+53.3 2016: R+51.4 2012: R+27.4 2008: R+13.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.42%
• Current HPI: 248.7449
• 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

-16.8% since first listed

4 events — show timeline

• 2026-04-28 Price Changed $49,900 MIBOR as Distributed by MLS Grid
• 2026-01-08 Listed $69,900 MIBOR as Distributed by MLS Grid
• 2025-11-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-09-26 Listed $60,000 MIBOR as Distributed by MLS Grid

Property tax history

-5.7%/yr

Latest (2024): $428 · -19.9% YoY. Source: county tax records.