4570 N Old State Road 55 · Crawfordsville, IN 47933

$149,500

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 1 Days on market

Built 1974 0.71 ac lot Est $192k · 22% under

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Why this score? — see what drove the C+ 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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.3/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Country living with convenience! This 1,152 square foot home offers 3 bedrooms and 1 full bath and 2 additional 1/2 baths. The open concept kitchen, dining, and living room create a welcoming space perfect for entertaining and everyday living. Recent improvements include a new well in 2025, new gutters in 2025, newer furnace, and new flooring in the kitchen and baths. Sliding glass doors off the kitchen lead to a composite deck overlooking peaceful rural views. Additional features include a durable metal roof and a spacious metal pole barn with a concrete floor which is ideal for storage, hobbies, or a workshop. Enjoy the quiet country setting while still being conveniently located.

Key facts

• Open concept kitchen
• Metal roof
• Metal pole barn

Tags

• OPEN CONCEPT KITCHEN
• COMPOSITE DECK
• METAL ROOF
• METAL POLE BARN

Property features AI

Exterior

• Parking: Detached 3-car garage
• Utilities: Private water; Septic system; 100 amp electric service; Electricity connected; Propane (leased)
• Home design: Single family residence; One level
• Construction: Vinyl siding; Block foundation
• Exterior features: Deck; Porch; Barn pole; Mature trees; Not in a subdivision (rural setting)

Interior

• Kitchen: Microhood
• Bedrooms: 3 bedrooms on the main level; Primary bedroom with walk-in closet
• Bathrooms: 1 full bathroom; 2 half bathrooms; Primary bathroom is a half bath
• Heating & cooling: Forced air heating; Wall unit(s) for cooling
• Interior features: Eat-in kitchen; Walk-in closet(s); Laundry in unit
• Laundry & utility: Laundry on the main level; Electric water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/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 $139k (6.8% below list).
• Recommended offer: $139k (6.8% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.4% in Crawfordsville — 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 72/100 on livability (#118 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools D+, commute D+, amenities F.
• North Montgomery Community School Corporation (rural): math 47% / reading 53% proficiency, ranked #50 of 301 in IN (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.3%/yr); 209 active listings in the ZIP; 52 units permitted in Montgomery 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 $4k of value loss. Plan a longer hold.
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $139,370 (6.8% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.93% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.52%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $192,384
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4232 W 450 N	0.11mi	2/2.5 (-1)	1,127 (-2%)	4mo	$188,000	$167	77

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 · 3.28% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.77×
• Total profit: $-9,421
• Equity at exit: $22,291

10-year hold

• IRR: 3.8%
• Equity multiple: 1.28×
• Total profit: $11,764
• Equity at exit: $12,926

Cash invested: $41,860 (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 47933

• Home prices YoY: -27.1%
• Rents YoY: 3.3%
• Active inventory: 209
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,394 medium
• Mortgage (P&I): −$784
• Tax from tax record: −$27 /mo · $327/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $227

Break-even live

Break-even rent $1,106

Max offer price $149,500

Occupancy floor 79%

Sensitivity live

Price	-10% $312	-5% $270	+0% $227	+5% $185	+10% $-35
Rent	-10% $117	-5% $172	+0% $227	+5% $283	+10% $338
Rate	-1.0pp $303	-0.5pp $265	base $227	+0.5pp $189	+1.0pp $149

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: $37,375
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-20
   status Pending
2. 2026-05-19
   listed $149,500 Active
3. 2025-10-14
   status Pending
4. 2025-10-14
   listed $100,000 Active
5. 2025-10-14
   historical
6. 2025-10-14
   price $107,000

ⓘ 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: $327 · $27/mo
• Projected year-2 tax: $799 · $67/mo
• Expected delta: +$472/yr (+$39/mo · 144.2%)

ⓘ 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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,724
• − Mortgage interest: −$8,374
• − Property taxes: −$327
• − Insurance: −$748
• − Repairs & maintenance: −$1,338
• − Management: −$1,338
• − Depreciation: −$4,349
• Taxable income: $250
• Est. tax owed @ 24.0%: −$60
• After-tax cash flow: $2,670/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 Montgomery Community School Corporation
• NCES district ID: 1807900
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 53% ▲ 3.00%
• Median HH income: $53,844
• Composite: 43.14/100
• National rank: #3076
• State rank: #50 of 301 in IN

Livability — Crawfordsville

• Score: 72/100
• State rank: #118
• US rank: #6376

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 28,357 people
• City population: 28,357
• Metro: Crawfordsville, IN
• Population (ZIP): 28,357
• Household income: $68,130
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 464.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 37,893 people
• By 2030: 37,539 · -0.9%
• By 2040: 36,536 · -3.6%
• By 2050: 34,454 · -9.1%
• By 2075: 28,852 · -23.9%
• By 2100: 21,145 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+48.2) · D 24.9% · R 73.2% · Other 1.9%
• 2008→2024 swing: -28.3pp toward R · 2008: -19.9pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+49.1 2016: R+50.9 2012: R+38.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.91%
• Current HPI: 211.6864
• Rent YoY: ▲ 3.28%
• Metro: Crawfordsville, IN
• 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

+39.7% since first listed

6 events — show timeline

• 2026-05-20 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-19 Listed $149,500 MIBOR as Distributed by MLS Grid
• 2025-10-14 Pending — MIBOR as Distributed by MLS Grid
• 2025-10-14 Listed $100,000 MIBOR as Distributed by MLS Grid
• 2025-10-14 Price Changed $107,000 MIBOR as Distributed by MLS Grid
• 2025-10-14 Listing Removed — MIBOR as Distributed by MLS Grid

Property tax history

+18.7%/yr

Latest (2025): $327 · -5.2% YoY. Source: county tax records.