810 S Franklin St · Oakland City, IN 47660

$10,000

2 bd · 2.0 ba · 1,015 sqft · SingleFamily public records · 1 Days on market

Built 1925 6,970 sqft lot

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Own a slice of Oakland City! This property offers two bedrooms, two full baths with just over 1,000 square feet and a large detached garage. An outstanding investment opportunity, inviting both seasoned investors and handy homeowners alike to explore its remarkable potential.

Key facts

• 6,970 sq ft lot
• 2 parking spots
• Built 1925

🏷️ Possibly a rental listed for sale. The $10,000 price doesn't fit this home's estimated sale value (~$114,695) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $10k.

Deal economics

• At list price, monthly cash flow is $677 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($938 rent vs $10k).

Location & tenants

• Location reads 65/100 on livability (#349 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• East Gibson School Corporation (town): math 40% / reading 35% proficiency, ranked #171 of 301 in IN (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Waldo J Wood Memorial Jhs (math 27% / reading 32%, grade F, #212 of 330 statewide, top 67%, 119 students, 60% FRL); Waldo J Wood Memorial High (math 34% / reading 44%, grade F, #221 of 369 statewide, top 63%, 212 students, 37% FRL).
• Market conditions: 24 active listings in the ZIP; 167 units permitted in Gibson County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($69 loan paydown + $1k appreciation (10.0% local appreciation)).
• Gibson County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $10,000

Questions for the listing agent

1. Built in 1925 — 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: 9.38% ✓
• Cap rate: 87.48%
• Cash-on-cash: 289.95%
• DSCR: 13.90
• GRM: 0.9

CMA / ARV

• ARV (on-the-fly): $114,695
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
523 W Morton St	0.19mi	2/1.0	1,086 (+7%)	3mo	$64,000	$59	73
334 S Jackson St	0.38mi	2/1.0	988 (-3%)	2mo	$118,400	$120	72
114 S Main St	0.50mi	2/1.0	1,008 (-1%)	3mo	$99,000	$98	69
1827 S 1200 E	0.33mi	2/1.0	1,087 (+7%)	9mo	$117,500	$108	61
415 E Oak St	0.51mi	2/1.0	1,074 (+6%)	3mo	$116,500	$108	60
231 W Morton St	0.16mi	2/1.5	1,152 (+14%)	12mo	$40,000	$35	58
1862 S 1190 St E	0.34mi	3/2.0 (+1)	918 (-10%)	10mo	$130,000	$142	55
117 N Third Ave	0.57mi	2/1.0	964 (-5%)	9mo	$103,400	$107	53
326 W Vine St	0.73mi	2/1.0	960 (-5%)	2mo	$129,000	$134	51
414 W Columbia St	0.47mi	2/1.0	1,124 (+11%)	10mo	$131,900	$117	48
1756 S 1200 E	0.36mi	2/1.0	1,154 (+14%)	13mo	$130,000	$113	45
518 N Short St	0.73mi	2/1.0	933 (-8%)	8mo	$123,888	$133	42

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 18.34×
• Total profit: $48,548
• Equity at exit: $9,009

10-year hold

• IRR: —
• Equity multiple: 39.96×
• Total profit: $109,101
• Equity at exit: $19,428

Cash invested: $2,800 (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 47660

• Home prices YoY: 7.7%
• Active inventory: 24
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $938 medium
• Mortgage (P&I): −$52
• Tax from tax record: −$8 /mo · $91/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $677

Break-even live

Break-even rent $81

Max offer price $10,000

Occupancy floor 23%

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: $2,500
• Closing costs: $300
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-15
   soldstatus $10,000 Closed 276-char remark

   Show marketing remark (276 chars)

   Own a slice of Oakland City! This property offers two bedrooms, two full baths with just over 1,000 square feet and a large detached garage. An outstanding investment opportunity, inviting both seasoned investors and handy homeowners alike to explore its remarkable potential.

2. 2026-03-13
   status Pending 276-char remark

   Show marketing remark (276 chars)

   Own a slice of Oakland City! This property offers two bedrooms, two full baths with just over 1,000 square feet and a large detached garage. An outstanding investment opportunity, inviting both seasoned investors and handy homeowners alike to explore its remarkable potential.

3. 2026-03-13
   status Pending

   Show marketing remark (276 chars)

   Own a slice of Oakland City! This property offers two bedrooms, two full baths with just over 1,000 square feet and a large detached garage. An outstanding investment opportunity, inviting both seasoned investors and handy homeowners alike to explore its remarkable potential.

4. 2026-03-12
   listed $10,000 Active
5. 2026-03-11
   listed $10,000 Active 276-char remark

   Show marketing remark (276 chars)

   Own a slice of Oakland City! This property offers two bedrooms, two full baths with just over 1,000 square feet and a large detached garage. An outstanding investment opportunity, inviting both seasoned investors and handy homeowners alike to explore its remarkable potential.

ⓘ 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: $91 · $8/mo
• Projected year-2 tax: $91 · $8/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $11,252
• − Mortgage interest: −$560
• − Property taxes: −$91
• − Insurance: −$50
• − Repairs & maintenance: −$900
• − Management: −$900
• − Depreciation: −$291
• Taxable income: $8,459
• Est. tax owed @ 24.0%: −$2,030
• After-tax cash flow: $6,088/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: East Gibson School Corporation
• NCES district ID: 1802940
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $42,426
• Composite: 31.73/100
• National rank: #5908
• State rank: #171 of 301 in IN

Livability — Oakland City

• Score: 65/100
• State rank: #349
• US rank: #13364

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland City, IN
• Population (ZIP): 4,819

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 33,671 people
• By 2030: 33,409 · -0.8%
• By 2040: 32,364 · -3.9%
• By 2050: 30,453 · -9.6%
• By 2075: 24,610 · -26.9%
• By 2100: 16,217 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 2%
• Common ancestry: Lithuanian 2% Serbian 2% Scottish 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+51.4) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -38.2pp toward R · 2008: -13.2pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.2 2016: R+47.6 2012: R+31.0 2008: R+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.71%
• Current HPI: 234.1104
• 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

+0.0% since first listed

5 events — show timeline

• 2026-04-15 Sold (MLS) $10,000 MIBOR as Distributed by MLS Grid
• 2026-03-13 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-13 Pending — IRMLS
• 2026-03-12 Listed $10,000 IRMLS
• 2026-03-11 Listed $10,000 MIBOR as Distributed by MLS Grid

Property tax history

+38.1%/yr

Latest (2024): $91 · -86.8% YoY. Source: county tax records.