1011 N Missouri St

Remington, IN 47977

$299,000D+

3 bd · 2.0 ba · 2,000 sqft · Built 1950 · SingleFamily · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,724/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$220
• HOA: −$0
• Vac / Maint / Mgmt: −$572
• Net cashflow: $364/mo
• Annual: $4,364/yr
• Cap rate: 7.75%
• Cash-on-cash: 5.21%
• DSCR: 1.23
• 1% rule: 0.91%
• Cash to close: $83,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $299k.
• At list price, monthly cash flow is $364 ($4k/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 $272k (8.9% below list).
• It's been on market 33 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $272k (8.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#223 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Tri-County School Corporation (rural): math 36% / reading 42% proficiency, ranked #146 of 301 in IN (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tri-County Primary School (209 students, 35% FRL); Tri-County Jr/Sr High School (math 32% / reading 57%, grade F, #169 of 369 statewide, top 51%, 329 students, 40% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 93 units permitted in Jasper County in 2024 (5 in 5+ unit buildings).
• Jasper County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $26k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $299k implies a 99% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.