304 E Bard St

Crothersville, IN 47229

$151,049C-

3 bd · 1.0 ba · 2,670 sqft · Built 1948 · SingleFamily · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,322/mo
• Mortgage (P&I): −$792
• Tax + insurance: −$159
• HOA: −$0
• Vac / Maint / Mgmt: −$278
• Net cashflow: $93/mo
• Annual: $1,118/yr
• Cap rate: 7.03%
• Cash-on-cash: 2.64%
• DSCR: 1.12
• 1% rule: 0.88%
• Cash to close: $42,294

Investor read

• This is a 3-bed/1.0-bath single-family listed at $151k.
• At list price, monthly cash flow is $93 ($1k/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 $132k (12.5% below list).
• It's been on market 48 days — a 3% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (12.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#350 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety D, amenities F.
• Crothersville Community Schools (rural): math 14% / reading 27% proficiency, ranked #273 of 301 in IN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Crothersville Elementary School (math 22% / reading 22%, grade F, #790 of 994 statewide, top 81%, 220 students, 62% FRL); Crothersville Jr-Sr High School (math 8% / reading 32%, grade F, #345 of 369 statewide, top 95%, 221 students, 58% FRL) — zoned schools average 60% FRL vs 37% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 active listings in the ZIP; 101 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
• Jackson County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $60k; list at $151k implies a 154% gain — meaningful room to come down on a strong offer.
• 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.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.