104 Indiana St · Holland, IN 47541

$93,750

3 bd · 1.0 ba · 1,280 sqft · SingleFamily public records · 134 Days on market

Built 2001 0.58 ac lot Est $173k · 46% under

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Why this score? — see what drove the B+ 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 +25.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +7.5/10.0
• Appreciation +7.1/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

New Safety Straps, New exterior clean out. Functioning Heat & Central Air, Brand New Plumbing. Property is cleaned & sales clean. 2 Lots/. 58 Acre Built 2001 Master ensuite, Bathroom is 15 x 8 with walk in closet Family room is the addition Covered Front Porch with wood deck flooring 16 x 8 Back Covered Porch 7 x 12 Washer/dryer area has room for shelving to be used as pantry space

Key facts

• Brand new plumbing
• Master ensuite
• Functioning heat

Tags

• FUNCTIONING HEAT
• CENTRAL AIR
• BRAND NEW PLUMBING
• 2 LOTS
• MASTER ENSUITE
• WALK IN CLOSET

Property features AI

Finance

• Other: Property is listed by HEARTLAND RE LLC

Exterior

• Parking: Off-street parking; Carport; 2-car garage
• Utilities: Public water; Public sewer
• Home design: Manufactured home (residential); Metal siding
• Construction: Metal siding construction
• Exterior features: Corner lot; Lot size approximately 0.58 acres

Interior

• Kitchen: No kitchen appliances listed
• Bedrooms: Total of 6 rooms (specific bedroom count not provided); Bedrooms located on main level
• Bathrooms: 2 full bathrooms, both on the main level
• Heating & cooling: Central air conditioning; Forced air heating; Electric heating; Space heater
• Interior features: No built-in appliances listed; No basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $82k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#250 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, amenities F.
• Southwest Dubois County School Corporation (rural): math 50% / reading 50% proficiency, ranked #56 of 301 in IN (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Holland Elementary School (math 62% / reading 47%, grade C, #197 of 994 statewide, top 22%, 254 students, 42% FRL); Southridge Middle School (math 53% / reading 56%, grade B-, #29 of 330 statewide, top 9%, 409 students, 58% FRL); Southridge High School (math 37% / reading 62%, grade D, #123 of 369 statewide, top 36%, 566 students, 48% FRL).
• Market conditions: 3 active listings in the ZIP; 197 units permitted in Dubois County in 2024 (20 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($648 loan paydown + $4k appreciation (4.2% local appreciation)).
• Dubois County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,500 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.25% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.14%
• DSCR: 1.45
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $172,800
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 E Main St	0.10mi	3/1.5	1,258 (-2%)	9mo	$169,900	$135	83
107 N Meridian St	0.13mi	3/2.0	1,440 (+12%)	6mo	$129,880	$90	64
904 W Main St	0.46mi	2/1.0 (-1)	1,282 (+0%)	12mo	$158,500	$124	63
703 S 5th St	0.34mi	3/1.0	1,152 (-10%)	13mo	$173,600	$151	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 2.20×
• Total profit: $31,432
• Equity at exit: $48,487

10-year hold

• IRR: 20.1%
• Equity multiple: 4.25×
• Total profit: $85,189
• Equity at exit: $80,076

Cash invested: $26,250 (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 47541

• Home prices YoY: 1.9%
• Active inventory: 3
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,173 medium
• Mortgage (P&I): −$492
• Tax from tax record: −$174 /mo · $2,093/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $222

Break-even live

Break-even rent $893

Max offer price $93,750

Occupancy floor 76%

Sensitivity live

Price	-10% $275	-5% $248	+0% $222	+5% $195	+10% $169
Rent	-10% $129	-5% $176	+0% $222	+5% $268	+10% $315
Rate	-1.0pp $269	-0.5pp $246	base $222	+0.5pp $198	+1.0pp $173

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: $23,438
• Closing costs: $2,812
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $93,750 Active 134 DOM
2. 2026-06-18
   days on market $93,750 Active 133 DOM
3. 2026-06-17
   days on market $93,750 Active 132 DOM
4. 2026-06-16
   days on market $93,750 Active 131 DOM
5. 2026-06-15
   days on market $93,750 Active 130 DOM
6. 2026-06-14
   days on market $93,750 Active 128 DOM
7. 2026-06-12
   days on market $93,750 Active 127 DOM
8. 2026-06-09
   days on market $93,750 Active 124 DOM
9. 2026-06-08
   days on market $93,750 Active 123 DOM
10. 2026-06-07
    days on market $93,750 Active 122 DOM
11. 2026-06-07
    days on market $93,750 Active 121 DOM
12. 2026-06-04
    days on market $93,750 Active 118 DOM
13. 2026-06-02
    days on market $93,750 Active 117 DOM
14. 2026-06-01
    days on market $93,750 Active 116 DOM
15. 2026-05-31
    days on market $93,750 Active 115 DOM
16. 2026-05-31
    days on market $93,750 Active 114 DOM
17. 2026-05-22
    price $93,750
18. 2026-02-06
    listed $97,000 Active
19. 2025-07-25
    status Pending
20. 2025-01-27
    listed $89,000 Active

ⓘ 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: $2,093 · $174/mo
• Projected year-2 tax: $2,093 · $174/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,082
• − Mortgage interest: −$5,251
• − Property taxes: −$2,093
• − Insurance: −$469
• − Repairs & maintenance: −$1,127
• − Management: −$1,127
• − Depreciation: −$2,727
• Taxable income: $1,288
• Est. tax owed @ 24.0%: −$309
• After-tax cash flow: $2,354/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: Southwest Dubois County School Corporation
• NCES district ID: 1810870
• Math proficiency: 50% ▼ -4.00%
• Reading proficiency: 50% ▼ -1.00%
• Median HH income: $47,814
• Composite: 42.58/100
• National rank: #3193
• State rank: #56 of 301 in IN

Livability — Holland

• Score: 67/100
• State rank: #250
• US rank: #10671

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holland, IN
• Population (ZIP): 1,110

Population outlook (Dubois County) Hauer SSP2

• Today (2025): 43,036 people
• By 2030: 43,079 · +0.1%
• By 2040: 42,531 · -1.2%
• By 2050: 40,762 · -5.3%
• By 2075: 36,227 · -15.8%
• By 2100: 28,083 · -34.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Romanian 3% Danish 1% German 1%
• Foreign-born: 7% · Canada
• Languages at home: 95% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Dubois

• 2024 margin: Solid R (+42.2) · D 27.8% · R 70.0% · Other 2.2%
• 2008→2024 swing: -38.0pp toward R · 2008: -4.2pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.1 2016: R+40.0 2012: R+27.7 2008: R+4.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.17%
• Current HPI: 222.5466
• 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

+5.3% since first listed

4 events — show timeline

• 2026-05-22 Price Changed $93,750 IRMLS
• 2026-02-06 Listed $97,000 IRMLS
• 2025-07-25 Pending — IRMLS
• 2025-01-27 Listed $89,000 IRMLS

Property tax history

+47.1%/yr

Latest (2024): $2,093 · +6.6% YoY. Source: county tax records.