154 E Washington St · Mooresville, IN 46158

$208,000

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 85 Days on market

Built 1939 4,661 sqft lot Est $184k · 13% over

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Why this score? — see what drove the F 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 +5.9/30.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• DSCR +0.3/10.0
• 1% rule +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this Charming 2 Bedroom, 1 Bathroom Bungalow in the Heart of Mooresville! This delightful bungalow offers the perfect blend of comfort, character, and convenience-all within walking distance of downtown Mooresville's vibrant shops, restaurants, and local attractions. Situated on a desirable corner lot, this home features two cozy bedrooms and a full bathroom, all located on the main level for easy single-level living. The light-filled living areas boast timeless charm and a functional layout ideal for both relaxing and entertaining. A spacious, unfinished basement provides a blank canvas for the next homeowner-create a family room, home office, workshop, or guest suite to suit your lifestyle. Outside, enjoy the benefits of a two-car detached garage. Whether you're a first-time buyer, downsizing, or looking for a smart investment in a prime location, this home offers endless possibilities in a walkable, welcoming neighborhood.

Key facts

• Close to restaurants
• Full basement
• Outdoor space

Tags

• FULL BASEMENT
• DETACHED GARAGE
• CORNER LOT
• OUTDOOR SPACE
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS

Property features AI

Exterior

• Parking: Detached garage with service door; 2-car garage (approximately 400 sq ft)
• Utilities: Public water; Municipal sewer connected; Natural gas connected; Solid waste service available
• Home design: Single family residence; One level; Faces south
• Construction: Block foundation; Other construction materials
• Exterior features: Covered patio/porch; Corner lot; Has a view; No fence indicated

Interior

• Kitchen: Electric oven; Range hood; Microwave; Refrigerator; Garbage disposal
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Utility room; Unfinished basement; Covered range hood; Garbage disposal; Gas water heater; Microwave; Electric oven; Refrigerator
• Laundry & utility: Main-level laundry room with hookups; Utility room in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $208k.

Deal economics

• At list price, monthly cash flow is $-408 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (34.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (50.6% below list).
• Recommended offer: $103k (50.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#201 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Mooresville Consolidated School Corporation (suburban): math 41% / reading 43% proficiency, ranked #111 of 301 in IN (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mooresville High School (math 43% / reading 74%, grade C, #60 of 369 statewide, top 16%, 1,404 students, 39% FRL).
• Zoned-school proficiency averages 58% at this address vs 42% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Mooresville Consolidated School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 134 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 330 units permitted in Morgan 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 $6k of value loss. Plan a longer hold.
• Morgan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,667 (50.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 51% concession, seller financing, or rate buy-down credit?
3. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.49% ✗
• Cap rate: 3.94%
• Cash-on-cash: -8.41%
• DSCR: 0.63
• GRM: 16.9

CMA / ARV

• ARV (on-the-fly): $184,224
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
337 Bridge St	0.23mi	2/1.0	900 (-1%)	2mo	$175,000	$194	85
215 E Main St	0.12mi	2/1.0	1,000 (+10%)	3mo	$202,000	$202	76
216 E Carlisle St	0.29mi	2/1.0	884 (-3%)	10mo	$185,000	$209	73
80 Brentwood Dr	0.45mi	3/1.0 (+1)	925 (+1%)	11mo	$184,900	$200	62
50 Sunbury Dr	0.46mi	3/1.0 (+1)	925 (+1%)	17mo	$172,000	$186	57
25 Commerce Dr	0.59mi	2/1.0	912 (0%)	22mo	$145,000	$159	54
699 Maple Ln	0.55mi	3/1.0 (+1)	925 (+1%)	16mo	$200,000	$216	54
698 Indianapolis Rd	0.67mi	3/1.0 (+1)	866 (-5%)	2mo	$199,000	$230	53
49 Commerce Dr	0.59mi	2/1.0	960 (+5%)	17mo	$184,500	$192	50
676 Nelson Dr	0.58mi	3/1.0 (+1)	957 (+5%)	14mo	$217,000	$227	48
91 North Dr	0.62mi	3/1.0 (+1)	1,025 (+12%)	2mo	$214,000	$209	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -31.2%
• Equity multiple: -0.03×
• Total profit: $-59,812
• Equity at exit: $31,013

10-year hold

• IRR: -35.1%
• Equity multiple: -0.48×
• Total profit: $-86,031
• Equity at exit: $17,984

Cash invested: $58,240 (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 46158

• Home prices YoY: -26.3%
• Active inventory: 134
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $1,027 medium
• Mortgage (P&I): −$1,091
• Tax from tax record: −$42 /mo · $500/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $-408

Break-even live

Break-even rent $1,543

Max offer price $135,916

Occupancy floor —

Sensitivity live

Price	-10% $-290	-5% $-349	+0% $-408	+5% $-467	+10% $-526
Rent	-10% $-489	-5% $-449	+0% $-408	+5% $-367	+10% $-327
Rate	-1.0pp $-303	-0.5pp $-355	base $-408	+0.5pp $-462	+1.0pp $-517

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: $52,000
• Closing costs: $6,240
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 Churchill Dr Mooresville, IN	3.0	1.0–1.5	589	$1,027	$1.74	2d	6	0.69mi

Listing history 15 events

1. 2026-06-07
   statusdays on market $208,000 Pending 85 DOM
2. 2026-06-03
   days on market $208,000 Active 82 DOM
3. 2026-06-02
   days on market $208,000 Active 81 DOM
4. 2026-06-01
   days on market $208,000 Active 80 DOM
5. 2026-05-31
   days on market $208,000 Active 79 DOM
6. 2026-05-11
   price $208,000
7. 2026-03-13
   listed $210,000 Active
8. 2025-10-09
   soldstatus $200,000 Closed 950-char remark

   Show marketing remark (950 chars)

   Welcome to this Charming 2 Bedroom, 1 Bathroom Bungalow in the Heart of Mooresville! This delightful bungalow offers the perfect blend of comfort, character, and convenience-all within walking distance of downtown Mooresville's vibrant shops, restaurants, and local attractions. Situated on a desirable corner lot, this home features two cozy bedrooms and a full bathroom, all located on the main level for easy single-level living. The light-filled living areas boast timeless charm and a functional layout ideal for both relaxing and entertaining. A spacious, unfinished basement provides a blank canvas for the next homeowner-create a family room, home office, workshop, or guest suite to suit your lifestyle. Outside, enjoy the benefits of a two-car detached garage. Whether you're a first-time buyer, downsizing, or looking for a smart investment in a prime location, this home offers endless possibilities in a walkable, welcoming neighborhood.

9. 2025-09-24
   status Pending 950-char remark

   Show marketing remark (950 chars)

   Welcome to this Charming 2 Bedroom, 1 Bathroom Bungalow in the Heart of Mooresville! This delightful bungalow offers the perfect blend of comfort, character, and convenience-all within walking distance of downtown Mooresville's vibrant shops, restaurants, and local attractions. Situated on a desirable corner lot, this home features two cozy bedrooms and a full bathroom, all located on the main level for easy single-level living. The light-filled living areas boast timeless charm and a functional layout ideal for both relaxing and entertaining. A spacious, unfinished basement provides a blank canvas for the next homeowner-create a family room, home office, workshop, or guest suite to suit your lifestyle. Outside, enjoy the benefits of a two-car detached garage. Whether you're a first-time buyer, downsizing, or looking for a smart investment in a prime location, this home offers endless possibilities in a walkable, welcoming neighborhood.

10. 2025-08-22
    listed $215,000 Active 950-char remark

    Show marketing remark (950 chars)

    Welcome to this Charming 2 Bedroom, 1 Bathroom Bungalow in the Heart of Mooresville! This delightful bungalow offers the perfect blend of comfort, character, and convenience-all within walking distance of downtown Mooresville's vibrant shops, restaurants, and local attractions. Situated on a desirable corner lot, this home features two cozy bedrooms and a full bathroom, all located on the main level for easy single-level living. The light-filled living areas boast timeless charm and a functional layout ideal for both relaxing and entertaining. A spacious, unfinished basement provides a blank canvas for the next homeowner-create a family room, home office, workshop, or guest suite to suit your lifestyle. Outside, enjoy the benefits of a two-car detached garage. Whether you're a first-time buyer, downsizing, or looking for a smart investment in a prime location, this home offers endless possibilities in a walkable, welcoming neighborhood.

11. 2022-03-29
    soldstatus $155,000 Closed 309-char remark

    Show marketing remark (309 chars)

    This adorable 2 bedroom house is ready for a new homeowner to love it. You will appreciate the extra space with the large basement and a detached 2 car garage. Location is key and this house is close to everything. Make sure you schedule a showing with your favorite realtor because this will not last long!

12. 2022-03-13
    status Pending 309-char remark

    Show marketing remark (309 chars)

    This adorable 2 bedroom house is ready for a new homeowner to love it. You will appreciate the extra space with the large basement and a detached 2 car garage. Location is key and this house is close to everything. Make sure you schedule a showing with your favorite realtor because this will not last long!

13. 2022-03-10
    listed $149,900 Active 309-char remark

    Show marketing remark (309 chars)

    This adorable 2 bedroom house is ready for a new homeowner to love it. You will appreciate the extra space with the large basement and a detached 2 car garage. Location is key and this house is close to everything. Make sure you schedule a showing with your favorite realtor because this will not last long!

14. 2006-11-08
    soldstatus $55,000
15. 2006-09-02
    listed $62,500

ⓘ 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: $500 · $42/mo
• Projected year-2 tax: $1,134 · $95/mo
• Expected delta: +$634/yr (+$53/mo · 126.8%)

ⓘ 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 4/10 Moderate 7 d/yr ≥102°F today · 19 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: $12,320
• − Mortgage interest: −$11,651
• − Property taxes: −$500
• − Insurance: −$1,040
• − Repairs & maintenance: −$986
• − Management: −$986
• − Depreciation: −$6,051
• Taxable loss: −$8,893
• Est. tax savings @ 24.0%: +$2,134
• After-tax cash flow: $-2,762/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: Mooresville Consolidated School Corporation
• NCES district ID: 1807140
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 43% ▼ -9.00%
• Median HH income: $59,316
• Composite: 37.04/100
• National rank: #4511
• State rank: #111 of 301 in IN

Livability — Mooresville

• Score: 69/100
• State rank: #201
• US rank: #8947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mooresville, IN
• City population: 24,622
• Population (ZIP): 24,622

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 71,081 people
• By 2030: 71,178 · +0.1%
• By 2040: 69,907 · -1.7%
• By 2050: 66,455 · -6.5%
• By 2075: 57,291 · -19.4%
• By 2100: 43,782 · -38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+54.3) · D 22.0% · R 76.3% · Other 1.7%
• 2008→2024 swing: -27.3pp toward R · 2008: -27.1pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+54.6 2016: R+56.6 2012: R+41.1 2008: R+27.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.62%
• Current HPI: 254.0837
• 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

+232.8% since first listed

10 events — show timeline

• 2026-05-11 Price Changed $208,000 MIBOR as Distributed by MLS Grid
• 2026-03-13 Listed $210,000 MIBOR as Distributed by MLS Grid
• 2025-10-09 Sold (MLS) $200,000 MIBOR as Distributed by MLS Grid
• 2025-09-24 Pending — MIBOR as Distributed by MLS Grid
• 2025-08-22 Listed $215,000 MIBOR as Distributed by MLS Grid
• 2022-03-29 Sold (MLS) $155,000 MIBOR as Distributed by MLS Grid
• 2022-03-13 Pending — MIBOR as Distributed by MLS Grid
• 2022-03-10 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2006-11-08 Sold (MLS) $55,000 MIBOR as Distributed by MLS Grid
• 2006-09-02 Listed $62,500 MIBOR as Distributed by MLS Grid

Property tax history

-6.9%/yr

Latest (2025): $500 · -10.6% YoY. Source: county tax records.