530 W Jackson St · Galveston, IN 46932

$70,000

1 bd · 1.0 ba · 1,980 sqft · SingleFamily public records · 58 Days on market

Built 1973 0.85 ac lot $35/sqft · 63% below area ↓ 18% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a remodel project and the potential of building equity? This home/property in Galveston home has so much potential and is ready for a remodel. Located next to farmland, this large 3 parcel property is the perfect location to build, add a pole barn etc. Potential of adding additional square footage second level.

Key facts

• Add a pole barn
• Next to farmland
• 0.85 acre lot

Tags

• NEXT TO FARMLAND
• LARGE 3 PARCEL PROPERTY
• ADD A POLE BARN

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($971 rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#357 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Lewis Cass Schools (rural): math 35% / reading 37% proficiency, ranked #177 of 301 in IN (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 22 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cass County population projected at -16% 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 $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.39% ✓
• Cap rate: 11.52%
• Cash-on-cash: 18.67%
• DSCR: 1.83
• GRM: 6.0

CMA / ARV

• ARV (median comp): $189,116
• List price: $70,000
• Delta: -62.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 10.4%
• Equity multiple: 1.41×
• Total profit: $8,076
• Equity at exit: $10,437

10-year hold

• IRR: 19.5%
• Equity multiple: 2.63×
• Total profit: $32,042
• Equity at exit: $6,052

Cash invested: $19,600 (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 46932

• Home prices YoY: -13.9%
• Active inventory: 12
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $971 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$66 /mo · $788/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $305

Break-even live

Break-even rent $585

Max offer price $70,000

Occupancy floor 64%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $70,000 Active 58 DOM
2. 2026-06-18
   days on market $70,000 Active 57 DOM
3. 2026-06-17
   days on market $70,000 Active 56 DOM
4. 2026-06-16
   days on market $70,000 Active 55 DOM
5. 2026-06-15
   days on market $70,000 Active 54 DOM
6. 2026-06-14
   days on market $70,000 Active 52 DOM
7. 2026-06-13
   days on market $70,000 Active 51 DOM
8. 2026-06-10
   days on market $70,000 Active 49 DOM
9. 2026-06-09
   days on market $70,000 Active 48 DOM
10. 2026-06-08
    days on market $70,000 Active 47 DOM
11. 2026-06-07
    days on market $70,000 Active 46 DOM
12. 2026-06-05
    days on market $70,000 Active 43 DOM
13. 2026-06-03
    days on market $70,000 Active 42 DOM
14. 2026-06-02
    days on market $70,000 Active 41 DOM
15. 2026-06-01
    days on market $70,000 Active 40 DOM
16. 2026-05-31
    days on market $70,000 Active 39 DOM
17. 2026-05-30
    days on market $70,000 Active 38 DOM
18. 2026-04-21
    listed $70,000 Active 324-char remark

    Show marketing remark (324 chars)

    Looking for a remodel project and the potential of building equity? This home/property in Galveston home has so much potential and is ready for a remodel. Located next to farmland, this large 3 parcel property is the perfect location to build, add a pole barn etc. Potential of adding additional square footage second level.

19. 2026-04-09
    price $70,000
20. 2026-03-03
    price $79,900
21. 2025-11-05
    status Active
22. 2025-11-01
    status Pending
23. 2025-10-16
    listed $85,000 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: $788 · $66/mo
• Projected year-2 tax: $788 · $66/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 3/10 Moderate 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $11,648
• − Mortgage interest: −$3,921
• − Property taxes: −$788
• − Insurance: −$350
• − Repairs & maintenance: −$932
• − Management: −$932
• − Depreciation: −$2,036
• Taxable income: $2,689
• Est. tax owed @ 24.0%: −$645
• After-tax cash flow: $3,013/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: Lewis Cass Schools
• NCES district ID: 1810680
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 37% ▼ -10.00%
• Median HH income: $50,796
• Composite: 31.25/100
• National rank: #6029
• State rank: #177 of 301 in IN

Livability — Galveston

• Score: 65/100
• State rank: #357
• US rank: #13534

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galveston, IN
• Population (ZIP): 2,996

Population outlook (Cass County) Hauer SSP2

• Today (2025): 36,480 people
• By 2030: 35,390 · -3.0%
• By 2040: 33,077 · -9.3%
• By 2050: 30,631 · -16.0%
• By 2075: 25,426 · -30.3%
• By 2100: 20,617 · -43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Black 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Italian 2% Iranian 1%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+46.2) · D 26.2% · R 72.4% · Other 1.4%
• 2008→2024 swing: -37.7pp toward R · 2008: -8.5pp · 2024: -46.2pp
• All cycles: 2024: R+46.2 2020: R+41.1 2016: R+42.0 2012: R+21.7 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.25%
• Current HPI: 218.8284
• 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

-17.6% since first listed

6 events — show timeline

• 2026-04-21 Listed $70,000 IRMLS
• 2026-04-09 Price Changed $70,000 IRMLS
• 2026-03-03 Price Changed $79,900 IRMLS
• 2025-11-05 Relisted — IRMLS
• 2025-11-01 Pending — IRMLS
• 2025-10-16 Listed $85,000 IRMLS

Property tax history

-1.6%/yr

Latest (2024): $788 · +10.7% YoY. Source: county tax records.