618 W Washington St · Plymouth, IN 46563

$179,900

3 bd · 2.0 ba · 1,264 sqft · SingleFamily public records · 22 Days on market

Built 1900 4,356 sqft lot Est $186k · at est.

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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 +21.7/30.0
• ARV discount +8.9/15.0
• DSCR +6.9/10.0
• 1% rule +5.1/10.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Totally remodeled house on W. Washington Street, one bedroom on the main level and another three bedrooms on the upper level; 2 full bathrooms; new hot water heater, new furnace, new central air conditioner; freshly painted interior and all new flooring throughout the house. Schedule your private showing with your favorite Realtor and see what you think; $179,900.

Key facts

• New furnace
• Remodeled house
• New flooring

Tags

• REMODELED HOUSE
• NEW HOT WATER HEATER
• NEW FURNACE
• NEW CENTRAL AIR CONDITIONER
• FRESHLY PAINTED INTERIOR
• NEW FLOORING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Vinyl siding; Built as site-built home
• Exterior features: Level lot; Shed(s)

Interior

• Kitchen: Gas oven; Gas range
• Bedrooms: Total rooms: 7
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Central air conditioning; Ceiling fans; Natural gas heating; Forced air heating
• Interior features: Gas oven and gas range; Electric water heater; One fireplace; Basement
• Laundry & utility: Laundry on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.5% in Plymouth — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#142 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Plymouth Community School Corporation (town): math 33% / reading 41% proficiency, ranked #173 of 301 in IN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Discovery Academy (math 37% / reading 32%, grade F, #597 of 994 statewide, top 63%, 225 students, 65% FRL); Lincoln Junior High School (math 30% / reading 46%, grade F, #136 of 330 statewide, top 44%, 510 students, 56% FRL); Plymouth High School (math 37% / reading 60%, grade D, #139 of 369 statewide, top 38%, 1,078 students, 51% FRL).
• Market conditions: 82 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 147 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• 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.
• Marshall County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $177,201 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 1.01% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.61%
• DSCR: 1.29
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $185,808
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 W Garro St	0.19mi	3/1.0	1,164 (-8%)	3mo	$175,500	$151	72
808 N Plum St	0.37mi	3/1.0	1,272 (+1%)	9mo	$120,000	$94	70
310 S Walnut St	0.38mi	3/2.0	1,376 (+9%)	3mo	$129,500	$94	65
110 E Harrison St	0.54mi	3/1.0	1,250 (-1%)	10mo	$190,000	$152	61
304 N Liberty St	0.70mi	3/1.5	1,220 (-4%)	0mo	$178,500	$146	59
824 N Plum St	0.39mi	3/2.0	1,092 (-14%)	1mo	$181,000	$166	58
806 N Plum St	0.36mi	3/1.5	1,373 (+9%)	10mo	$169,900	$124	58
420 Miner St	0.61mi	3/1.0	1,218 (-4%)	10mo	$179,000	$147	53
310 Indiana Ave	0.65mi	3/1.0	1,152 (-9%)	1mo	$178,000	$155	50
323 Simon St	0.57mi	2/1.0 (-1)	1,208 (-4%)	11mo	$157,500	$130	48
120 Louisa St	0.57mi	3/1.5	1,440 (+14%)	6mo	$190,000	$132	43
312 N Liberty St	0.71mi	3/1.0	1,092 (-14%)	8mo	$169,000	$155	33

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: -6.2%
• Equity multiple: 0.77×
• Total profit: $-11,516
• Equity at exit: $26,824

10-year hold

• IRR: 3.5%
• Equity multiple: 1.25×
• Total profit: $12,602
• Equity at exit: $15,554

Cash invested: $50,372 (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 46563

• Home prices YoY: -27.7%
• Active inventory: 82
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,811 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$135 /mo · $1,620/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $277

Break-even live

Break-even rent $1,460

Max offer price $179,900

Occupancy floor 80%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1113 Baker St Plymouth, IN	4.0	3.0	1640	$2,195	$1.34	43d	1	1.30mi
2234 Bitter Root Dr Plymouth, IN	1.0–3.0	1.0–2.5	1249	$2,195	$1.76	13d	2	1.38mi
1280 Dora Ln Plymouth, IN	2.0–3.0	1.0–2.0	995	$1,260	$1.27	43d	1	1.39mi

Listing history 16 events

1. 2026-06-19
   days on market $179,900 Active 22 DOM
2. 2026-06-18
   days on market $179,900 Active 21 DOM
3. 2026-06-17
   days on market $179,900 Active 20 DOM
4. 2026-06-16
   days on market $179,900 Active 19 DOM
5. 2026-06-15
   days on market $179,900 Active 18 DOM
6. 2026-06-14
   days on market $179,900 Active 16 DOM
7. 2026-06-12
   days on market $179,900 Active 15 DOM
8. 2026-06-09
   days on market $179,900 Active 12 DOM
9. 2026-06-08
   days on market $179,900 Active 11 DOM
10. 2026-06-07
    days on market $179,900 Active 10 DOM
11. 2026-06-07
    days on market $179,900 Active 9 DOM
12. 2026-06-02
    days on market $179,900 Active 5 DOM
13. 2026-06-01
    days on market $179,900 Active 4 DOM
14. 2026-05-31
    days on market $179,900 Active 3 DOM
15. 2026-05-31
    days on market $179,900 Active 2 DOM
16. 2026-05-28
    listed $179,900 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: $1,620 · $135/mo
• Projected year-2 tax: $1,620 · $135/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,732
• − Mortgage interest: −$10,077
• − Property taxes: −$1,620
• − Insurance: −$900
• − Repairs & maintenance: −$1,739
• − Management: −$1,739
• − Depreciation: −$5,233
• Taxable income: $425
• Est. tax owed @ 24.0%: −$102
• After-tax cash flow: $3,226/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: Plymouth Community School Corporation
• NCES district ID: 1809060
• Math proficiency: 33% ▼ -10.00%
• Reading proficiency: 41% ▼ -11.00%
• Median HH income: $45,852
• Composite: 31.58/100
• National rank: #5949
• State rank: #173 of 301 in IN

Livability — Plymouth

• Score: 71/100
• State rank: #142
• US rank: #7282

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plymouth, IN
• County: Marshall County · 23,615 people
• City population: 23,615
• Metro: Plymouth, IN
• Population (ZIP): 23,615
• Household income: $73,293
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 243.0

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 46,402 people
• By 2030: 45,775 · -1.4%
• By 2040: 44,220 · -4.7%
• By 2050: 42,329 · -8.8%
• By 2075: 38,235 · -17.6%
• By 2100: 33,285 · -28.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 16% Two or more races 4%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 4% Iranian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 87% English-only · Spanish 12% German/W. Germanic 1%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+43.4) · D 27.4% · R 70.8% · Other 1.8%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.4pp
• All cycles: 2024: R+43.4 2020: R+40.8 2016: R+41.6 2012: R+28.9 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.52%
• Current HPI: 247.1045
• Rent YoY: —
• Metro: Plymouth, IN
• 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

1 event — show timeline

• 2026-05-28 Listed $179,900 IRMLS

Property tax history

+13.6%/yr

Latest (2025): $1,620 · +2.5% YoY. Source: county tax records.