6894 S Cr 1100 W

Medora, IN 47260

$106,399C

2 bd · 1.0 ba · 1,276 sqft · Built 1918 · SingleFamily · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,060/mo
• Mortgage (P&I): −$558
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $155/mo
• Annual: $1,864/yr
• Cap rate: 8.04%
• Cash-on-cash: 6.26%
• DSCR: 1.28
• 1% rule: 1.00%
• Cash to close: $29,792

Investor read

• This is a 2-bed/1.0-bath single-family listed at $106k.
• At list price, monthly cash flow is $155 ($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 $106k (0.4% below list).
• It's been on market 48 days — a 3% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (3.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($735 loan paydown + $7k appreciation (6.4% local appreciation)).
• 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, amenities 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.
• Zoned schools: Medora Stem Academy (math 30% / reading 50%, grade F, #498 of 994 statewide, top 50%, 100 students, 80% FRL); Medora Jr & Sr High School (math 5% / reading 15%, grade F, #361 of 369 statewide, top 99%, 110 students, 78% FRL) — zoned schools average 79% FRL vs 64% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 101 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
• 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 $30k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.