7583 E Gray St · Otisco, IN 47147

$129,900

2 bd · 1.0 ba · 980 sqft · SingleFamily public records · 28 Days on market

Built 1960 0.44 ac lot $133/sqft · 25% below area Est $174k · 25% 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).

• ARV discount +15.0/15.0
• Cash flow +11.8/30.0
• Appreciation +7.1/10.0
• DSCR +3.5/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0

Listing remarks MLS

Secluded Nabb Indiana Home for Sale | Perfect Country Starter If you’ve been searching for homes for sale in Southern, Indiana that offer true privacy, this is the sanctuary you’ve been looking for. Tucked away on a quiet, secluded street in Scott County, this 2-bedroom property is the ideal starter home or move-in ready option for a new family. Walk through the front door and feel the warmth of the wood-burning stove—the ultimate centerpiece for cozy Southern Indiana winters. The home features new LVP flooring, providing a modern, low-maintenance finish that can handle country life. A standout feature is the oversized mudroom, offering the perfect "buffer zone" for gear and storage after enjoying the outdoors! For those with hobbies, the attached garage with 3-sided coverage provides ample parking for ATVs, trucks, and outdoor toys. Enjoy the peace of country living with no neighbors "right there" and no through-traffic. Disclosure: To help you envision the potential of this space, some photos have been virtually staged or AI-enhanced.

Key facts

• Country living
• Secluded street
• Attached garage

Tags

• SECLUDED STREET
• WOOD BURNING STOVE
• NEW LVP FLOORING
• OVERSIZED MUDROOM
• ATTACHED GARAGE
• COUNTRY LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-36 ($-437/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $93k (28.3% below list).
• Recommended offer: $93k (28.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Scott County School District 2 (town): math 33% / reading 43% proficiency, ranked #166 of 301 in IN (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 73 units permitted in Scott County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($898 loan paydown + $5k appreciation (4.2% local appreciation)).
• Scott County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $130k implies a 225% gain — meaningful room to come down on a strong offer.

Recommended offer $93,090 (28.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1960 — 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. 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: 0.72% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.20%
• DSCR: 0.95
• GRM: 11.6

CMA / ARV

• ARV (median comp): $173,518
• List price: $129,900
• Delta: -25.14%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

4.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.60×
• Total profit: $21,861
• Equity at exit: $67,550

10-year hold

• IRR: 11.5%
• Equity multiple: 2.95×
• Total profit: $70,941
• Equity at exit: $111,853

Cash invested: $36,372 (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 47147

• Home prices YoY: 2.0%
• Active inventory: 8
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $931 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$36 /mo · $437/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $-36

Break-even live

Break-even rent $977

Max offer price $123,474

Occupancy floor 99%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-29
   listed $129,900 Active 1097-char remark

   Show marketing remark (1097 chars)

   Secluded Nabb Indiana Home for Sale | Perfect Country Starter If you’ve been searching for homes for sale in Southern, Indiana that offer true privacy, this is the sanctuary you’ve been looking for. Tucked away on a quiet, secluded street in Scott County, this 2-bedroom property is the ideal starter home or move-in ready option for a new family. Walk through the front door and feel the warmth of the wood-burning stove—the ultimate centerpiece for cozy Southern Indiana winters. The home features new LVP flooring, providing a modern, low-maintenance finish that can handle country life. A standout feature is the oversized mudroom, offering the perfect "buffer zone" for gear and storage after enjoying the outdoors! For those with hobbies, the attached garage with 3-sided coverage provides ample parking for ATVs, trucks, and outdoor toys. Enjoy the peace of country living with no neighbors "right there" and no through-traffic. Disclosure: To help you envision the potential of this space, some photos have been virtually staged or AI-enhanced.

2. 2018-09-14
   soldstatus $40,000

ⓘ 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: $437 · $36/mo
• Projected year-2 tax: $771 · $64/mo
• Expected delta: +$333/yr (+$28/mo · 76.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,171
• − Mortgage interest: −$7,276
• − Property taxes: −$437
• − Insurance: −$650
• − Repairs & maintenance: −$894
• − Management: −$894
• − Depreciation: −$3,779
• Taxable loss: −$2,759
• Est. tax savings @ 24.0%: +$662
• After-tax cash flow: $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: Scott County School District 2
• NCES district ID: 1810020
• Math proficiency: 33% ▼ -10.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $45,529
• Composite: 32.37/100
• National rank: #5734
• State rank: #166 of 301 in IN

Livability — Otisco

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

Census & demographics

• Population (ZIP): 1,608

Population outlook (Scott County) Hauer SSP2

• Today (2025): 22,525 people
• By 2030: 21,609 · -4.1%
• By 2040: 19,536 · -13.3%
• By 2050: 17,370 · -22.9%
• By 2075: 12,862 · -42.9%
• By 2100: 9,340 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2%
• Common ancestry: Italian 5% Portuguese 1% Romanian 1%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Scott

• 2024 margin: Solid R (+51.5) · D 23.4% · R 74.9% · Other 1.6%
• 2008→2024 swing: -49.5pp toward R · 2008: -2.0pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+45.6 2016: R+37.9 2012: R+6.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.22%
• Current HPI: 213.0711
• 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

+224.8% since first listed

2 events — show timeline

• 2026-04-29 Listed $129,900 SIRA
• 2018-09-14 Sold (Public Records) $40,000 Public Records

Property tax history

+5.8%/yr

Latest (2024): $437 · +4.8% YoY. Source: county tax records.