1212 W State Road 18 Rd · Roll, IN 47348

$18,900

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 5 Days on market

Built 1963 0.78 ac lot $19/sqft · 42% below area Est $36k · 48% 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

House down to the studs. Beware there are holes in the floors. Enter at your own risk.

Key facts

• 0.78 acre lot
• Garage
• Built 1963

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Aluminum siding
• Exterior features: Level lot

Interior

• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces); Main-level laundry
• Bathrooms: One full bathroom on the main level
• Heating & cooling: No heating specified; No cooling specified
• Interior features: Crawl space basement
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $19k.

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 ($1k rent vs $19k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Blackford County Schools (town): math 37% / reading 41% proficiency, ranked #164 of 301 in IN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blackford Primary School (352 students, 65% FRL); Blackford Jr-Sr High School (math 25% / reading 43%, grade F, #285 of 369 statewide, top 78%, 717 students, 50% FRL).
• Market conditions: 55 active listings in the ZIP; 9 units permitted in Blackford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $131 of loan paydown is wiped out by about $567 of value loss. Plan a longer hold.
• Blackford County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago 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 $18,900

Questions for the listing agent

1. Built in 1963 — 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. 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.
4. 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.
5. 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: 5.41% ✓
• Cap rate: 49.29%
• Cash-on-cash: 153.57%
• DSCR: 7.83
• GRM: 1.5

CMA / ARV

• ARV (median comp): $36,000
• List price: $18,900
• Delta: -47.50%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1212 W State Road 18 Rd	0.00mi	3/1.0	1,108 (+10%)	1mo	$18,900	$17	83
1010 W State Road 18	0.20mi	2/1.0 (-1)	888 (-12%)	2mo	$36,000	$41	64

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: —
• Equity multiple: 8.57×
• Total profit: $40,086
• Equity at exit: $2,818

10-year hold

• IRR: —
• Equity multiple: 18.10×
• Total profit: $90,509
• Equity at exit: $1,634

Cash invested: $5,292 (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 47348

• Home prices YoY: -17.5%
• Active inventory: 55
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,023 medium
• Mortgage (P&I): −$99
• Tax est. 1.5%: −$24 /mo · $284/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $677

Break-even live

Break-even rent $165

Max offer price $18,900

Occupancy floor 29%

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: $4,725
• Closing costs: $567
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-18
   historical Active Under Contract 86-char remark
2. 2026-05-14
   listed $18,900 Active 86-char remark
3. 2016-08-19
   listed $14,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥99°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,271
• − Mortgage interest: −$1,059
• − Property taxes: −$284
• − Insurance: −$94
• − Repairs & maintenance: −$982
• − Management: −$982
• − Depreciation: −$550
• Taxable income: $8,321
• Est. tax owed @ 24.0%: −$1,997
• After-tax cash flow: $6,130/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: Blackford County Schools
• NCES district ID: 1800570
• Math proficiency: 37% ▼ -12.00%
• Reading proficiency: 41% ▼ -5.00%
• Median HH income: $39,653
• Composite: 32.67/100
• National rank: #5656
• State rank: #164 of 301 in IN

Livability — Roll

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Roll, IN
• Population (ZIP): 8,986

Population outlook (Blackford County) Hauer SSP2

• Today (2025): 11,183 people
• By 2030: 10,542 · -5.7%
• By 2040: 9,292 · -16.9%
• By 2050: 8,176 · -26.9%
• By 2075: 6,549 · -41.4%
• By 2100: 5,636 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Lithuanian 3% Scotch-Irish 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Blackford

• 2024 margin: Solid R (+50.3) · D 23.9% · R 74.2% · Other 1.9%
• 2008→2024 swing: -50.1pp toward R · 2008: -0.2pp · 2024: -50.3pp
• All cycles: 2024: R+50.3 2020: R+46.1 2016: R+43.7 2012: R+16.5 2008: R+0.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.19%
• Current HPI: 223.0485
• 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

+35.0% since first listed

5 events — show timeline

• 2026-06-03 Sold (MLS) $18,900 IRMLS
• 2026-05-20 Pending — IRMLS
• 2026-05-18 Contingent — IRMLS
• 2026-05-14 Listed $18,900 IRMLS
• 2016-08-19 Listed $14,000 IRMLS

Property tax history

+78.7%/yr

Latest (2025): $1,857 · +2.8% YoY. Source: county tax records.