691 E Middle St

Rosedale, IN 47874

$54,900B+

3 bd · 1.0 ba · 1,350 sqft · Built 1929 · SingleFamily · Active · 126 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,163/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$98
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $533/mo
• Annual: $6,391/yr
• Cap rate: 17.93%
• Cash-on-cash: 41.57%
• DSCR: 2.85
• 1% rule: 2.12%
• Cash to close: $15,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $55k.
• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 126 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($380 loan paydown + $5k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#509 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Southwest Parke Community School Corporation (rural): math 34% / reading 36% proficiency, ranked #195 of 301 in IN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rosedale Elementary School (math 42% / reading 32%, grade F, #550 of 994 statewide, top 57%, 312 students, 53% FRL); Riverton Parke Jr-Sr High School (math 23% / reading 39%, grade F, #303 of 369 statewide, top 82%, 472 students, 53% FRL) — zoned schools at 53% FRL track the district average.
• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 61 units permitted in Parke County in 2024 (0 in 5+ unit buildings).
• Parke County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $20k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.