7339 Mcville Rd

Stanford, IN 47459

$99,000B

2 bd · 1.5 ba · 1,808 sqft · Built 1920 · SingleFamily · Active · 297 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,388/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$291
• Net cashflow: $412/mo
• Annual: $4,945/yr
• Cap rate: 11.29%
• Cash-on-cash: 17.84%
• DSCR: 1.79
• 1% rule: 1.40%
• Cash to close: $27,720

Investor read

• This is a 2-bed/1.5-bath single-family listed at $99k.
• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• It's been on market 297 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($684 loan paydown + $3k appreciation (3.5% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Eastern Greene Schools (rural): math 31% / reading 37% proficiency, ranked #199 of 301 in IN (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastern Greene Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 433 students, 54% FRL); Eastern Greene Middle School (math 27% / reading 33%, grade F, #208 of 330 statewide, top 64%, 349 students, 51% FRL); Eastern Greene High School (math 42% / reading 77%, grade C+, #49 of 369 statewide, top 16%, 334 students, 43% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 25 active listings in the ZIP.
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $91k (48%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 297 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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.