303 W Elnora St · Odon, IN 47562

$54,499

2 bd · 1.0 ba · 966 sqft · SingleFamily public records · 287 Days on market

Built 1900 7,405 sqft lot

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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 +8.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Bungalow style home with 2 bedrooms and 1 full bath. There are 2 storage sheds in back yard. Metal roof, vinyl siding.

Key facts

• Metal roof
• Vinyl siding
• Storage sheds

Tags

• STORAGE SHEDS
• METAL ROOF
• VINYL SIDING

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family, site-built home; One story
• Construction: Vinyl siding; Block foundation; Metal roof; Built as site-built construction
• Exterior features: Level lot; Outbuilding / shed on the property

Interior

• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Electric water heater; Additional water heater; One fireplace (no specified features); Partial, unfinished basement; Six total rooms
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $54k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($988 rent vs $54k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#388 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• North Daviess Community Schools (rural): math 32% / reading 46% proficiency, ranked #157 of 301 in IN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Daviess Elementary School (math 37% / reading 44%, grade F, #491 of 994 statewide, top 50%, 637 students, 48% FRL); North Daviess Jr-Sr High School (math 26% / reading 48%, grade F, #247 of 369 statewide, top 70%, 471 students, 49% FRL) — zoned schools average 49% FRL vs 31% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 19 active listings in the ZIP; 71 units permitted in Daviess County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($377 loan paydown + $3k appreciation (6.0% local appreciation)).
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 287 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $8k; list at $54k implies a 581% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $47,959 (12.0% below list)

Questions for the listing agent

1. It's been on market 287 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 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 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. 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: 1.81% ✓
• Cap rate: 16.39%
• Cash-on-cash: 36.06%
• DSCR: 2.60
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $168,084
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
305 S Grove St	0.28mi	2/1.5	1,040 (+8%)	8mo	$170,000	$163	66
302 S Grove St	0.25mi	2/1.0	903 (-6%)	17mo	$50,000	$55	63
400 N Elm St	0.10mi	3/2.0 (+1)	1,073 (+11%)	14mo	$221,000	$206	56
404 E Walnut St	0.50mi	2/1.0	1,047 (+8%)	10mo	$182,000	$174	54
413 S Grove St	0.42mi	2/1.0	884 (-8%)	17mo	$165,000	$187	52
301 E Main St	0.36mi	3/1.0 (+1)	1,085 (+12%)	12mo	$129,900	$120	47
122 E Burrell St	0.63mi	3/1.0 (+1)	1,008 (+4%)	21mo	$190,000	$188	40
407 S West St	0.44mi	3/2.0 (+1)	1,080 (+12%)	22mo	$125,000	$116	32

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

Projected returns pro-forma

5.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.2%
• Equity multiple: 3.94×
• Total profit: $44,866
• Equity at exit: $34,204

10-year hold

• IRR: 43.1%
• Equity multiple: 8.15×
• Total profit: $109,081
• Equity at exit: $61,980

Cash invested: $15,260 (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 47562

• Home prices YoY: 2.9%
• Active inventory: 19
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $988 medium
• Mortgage (P&I): −$286
• Tax from tax record: −$13 /mo · $161/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $459

Break-even live

Break-even rent $408

Max offer price $54,499

Occupancy floor 49%

Sensitivity live

Price	-10% $489	-5% $474	+0% $459	+5% $443	+10% $428
Rent	-10% $380	-5% $419	+0% $459	+5% $498	+10% $537
Rate	-1.0pp $486	-0.5pp $472	base $459	+0.5pp $444	+1.0pp $430

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: $13,625
• Closing costs: $1,635
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $54,499 Active 287 DOM
2. 2026-06-18
   days on market $54,499 Active 285 DOM
3. 2026-06-17
   days on market $54,499 Active 284 DOM
4. 2026-06-16
   days on market $54,499 Active 283 DOM
5. 2026-06-15
   days on market $54,499 Active 282 DOM
6. 2026-06-13
   days on market $54,499 Active 280 DOM
7. 2026-06-12
   days on market $54,499 Active 279 DOM
8. 2026-06-09
   days on market $54,499 Active 276 DOM
9. 2026-06-08
   days on market $54,499 Active 275 DOM
10. 2026-06-07
    days on market $54,499 Active 274 DOM
11. 2026-06-07
    days on market $54,499 Active 273 DOM
12. 2026-06-04
    days on market $54,499 Active 270 DOM
13. 2026-06-02
    days on market $54,499 Active 269 DOM
14. 2026-06-01
    days on market $54,499 Active 268 DOM
15. 2026-05-31
    days on market $54,499 Active 267 DOM
16. 2026-05-31
    days on market $54,499 Active 266 DOM
17. 2026-01-20
    price $54,499
18. 2025-12-28
    price $52,250
19. 2025-09-07
    listed $55,000 Active
20. 2020-05-05
    soldstatus $8,000

ⓘ 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: $161 · $13/mo
• Projected year-2 tax: $312 · $26/mo
• Expected delta: +$151/yr (+$13/mo · 93.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,855
• − Mortgage interest: −$3,053
• − Property taxes: −$161
• − Insurance: −$272
• − Repairs & maintenance: −$948
• − Management: −$948
• − Depreciation: −$1,585
• Taxable income: $4,886
• Est. tax owed @ 24.0%: −$1,173
• After-tax cash flow: $4,329/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 Daviess Community Schools
• NCES district ID: 1807710
• Math proficiency: 32% ▼ -17.00%
• Reading proficiency: 46% ▼ -11.00%
• Median HH income: $45,197
• Composite: 33.15/100
• National rank: #5552
• State rank: #157 of 301 in IN

Livability — Odon

• Score: 64/100
• State rank: #388
• US rank: #14371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Odon, IN
• Population (ZIP): 5,332

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 33,940 people
• By 2030: 34,457 · +1.5%
• By 2040: 35,412 · +4.3%
• By 2050: 35,803 · +5.5%
• By 2075: 35,173 · +3.6%
• By 2100: 29,799 · -12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2%
• Common ancestry: Italian 3% Portuguese 2% Russian 2%
• Foreign-born: 0%
• Languages at home: 71% English-only · German/W. Germanic 29%

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+64.3) · D 17.1% · R 81.5% · Other 1.4%
• 2008→2024 swing: -29.1pp toward R · 2008: -35.2pp · 2024: -64.3pp
• All cycles: 2024: R+64.3 2020: R+62.0 2016: R+62.8 2012: R+50.8 2008: R+35.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.98%
• Current HPI: 215.7598
• 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

+581.2% since first listed

4 events — show timeline

• 2026-01-20 Price Changed $54,499 IRMLS
• 2025-12-28 Price Changed $52,250 IRMLS
• 2025-09-07 Listed $55,000 IRMLS
• 2020-05-05 Sold (Public Records) $8,000 Public Records

Property tax history

-10.6%/yr

Latest (2024): $161 · -25.0% YoY. Source: county tax records.