529 Floral Ave · Portland, IN 47340

$159,900

3 bd · 2.0 ba · 1,488 sqft · SingleFamily public records · 3 Days on market

Built 1961 0.72 ac lot Est $122k · 31% over

---

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 +12.7/30.0
• DSCR +3.8/10.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Key facts

• 0.72 acre lot
• Garage
• Built 1961

Property features AI

Exterior

• Parking: Attached concrete garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; One story
• Construction: Brick and vinyl siding exterior; Asphalt shingle roof; Full finished basement (below grade finished area present)
• Exterior features: Landscaped lot; No fencing; Second (detached) garage

Interior

• Kitchen: Double oven
• Bedrooms: 6 total rooms (includes bedrooms and living areas)
• Flooring: Hardwood; Tile; Vinyl
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Walk-in closets; Natural woodwork; Window treatments; Finished full basement with sump pump; Basement fireplace
• Laundry & utility: Washer hookup on main level; Washer included; Water softener (owned); Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-17 ($-205/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (23.9% below list).
• Recommended offer: $122k (23.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.7% in Portland — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#191 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute C-, health & safety D, amenities F.
• Jay School Corporation (rural): math 38% / reading 37% proficiency, ranked #175 of 301 in IN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Jay Elementary (math 37% / reading 34%, grade F, #584 of 994 statewide, top 59%, 540 students, 56% FRL); Jay County Jr/Sr High School (math 34% / reading 41%, grade F, #245 of 369 statewide, top 67%, 1,242 students, 50% FRL).
• Market conditions: 5 active listings in the ZIP; 19 units permitted in Jay 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 $5k of value loss. Plan a longer hold.
• Jay County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $121,621 (23.9% 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. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.76% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $122,016
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
534 E Floral Ave	0.03mi	3/1.0	1,664 (+12%)	7mo	$135,000	$81	69
314 W Tenth St	0.47mi	3/2.0	1,456 (-2%)	14mo	$170,000	$117	63
909 S Meridian St	0.31mi	3/1.0	1,575 (+6%)	13mo	$95,000	$60	61
1009 S Meridian St	0.28mi	3/1.0	1,564 (+5%)	17mo	$137,900	$88	60
703 S Meridian St	0.46mi	3/1.5	1,425 (-4%)	14mo	$137,000	$96	58
1114 S Bridge St	0.44mi	3/1.5	1,372 (-8%)	11mo	$158,000	$115	55
715 S Bridge St	0.54mi	4/1.5 (+1)	1,512 (+2%)	14mo	$120,000	$79	54
915 S Vine St	0.26mi	3/1.0	1,296 (-13%)	23mo	$105,900	$82	43
441 S Vine St	0.59mi	4/1.0 (+1)	1,462 (-2%)	23mo	$108,000	$74	42

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: -17.1%
• Equity multiple: 0.40×
• Total profit: $-27,058
• Equity at exit: $23,842

10-year hold

• IRR: -9.1%
• Equity multiple: 0.44×
• Total profit: $-25,206
• Equity at exit: $13,825

Cash invested: $44,772 (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 47340

• Home prices YoY: -5.1%
• Active inventory: 5
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,216 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$73 /mo · $873/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $-17

Break-even live

Break-even rent $1,238

Max offer price $156,883

Occupancy floor 96%

Sensitivity live

Price	-10% $73	-5% $28	+0% $-17	+5% $-62	+10% $-108
Rent	-10% $-113	-5% $-65	+0% $-17	+5% $31	+10% $79
Rate	-1.0pp $63	-0.5pp $24	base $-17	+0.5pp $-59	+1.0pp $-101

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-07
   statusdays on market $159,900 Pending 3 DOM
2. 2026-06-05
   listed $159,900 Active 1 DOM

ⓘ 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: $873 · $73/mo
• Projected year-2 tax: $1,116 · $93/mo
• Expected delta: +$243/yr (+$20/mo · 27.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,595
• − Mortgage interest: −$8,957
• − Property taxes: −$873
• − Insurance: −$800
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$4,652
• Taxable loss: −$3,021
• Est. tax savings @ 24.0%: +$725
• After-tax cash flow: $520/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: Jay School Corporation
• NCES district ID: 1804980
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $40,841
• Composite: 31.56/100
• National rank: #5954
• State rank: #175 of 301 in IN

Livability — Portland

• Score: 69/100
• State rank: #191
• US rank: #8739

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portland, IN
• Population (ZIP): 3,267

Population outlook (Jay County) Hauer SSP2

• Today (2025): 20,586 people
• By 2030: 20,155 · -2.1%
• By 2040: 19,274 · -6.4%
• By 2050: 18,203 · -11.6%
• By 2075: 15,062 · -26.8%
• By 2100: 10,857 · -47.3%

Race, ethnicity, and origin ACS 2023

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

Political lean MEDSL · Jay

• 2024 margin: Solid R (+55.2) · D 21.6% · R 76.7% · Other 1.7%
• 2008→2024 swing: -47.3pp toward R · 2008: -7.8pp · 2024: -55.2pp
• All cycles: 2024: R+55.2 2020: R+52.4 2016: R+47.8 2012: R+20.0 2008: R+7.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.64%
• Current HPI: 216.9007
• 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

1 event — show timeline

• 2026-06-04 Listed $159,900 IRMLS

Property tax history

+4.0%/yr

Latest (2025): $873 · +16.8% YoY. Source: county tax records.