129 W Prairie St · Goodland, IN 47948

$85,000

4 bd · 2.0 ba · 2,412 sqft · SingleFamily public records · 31 Days on market

Built 1910 0.42 ac lot $35/sqft · 49% below area Est $166k · 49% under

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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 +29.1/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +3.7/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This home boast plenty of room. Investors bring your imagination. With two entrances from the wrap around covered porch this home has the possibility on one or two units. Charming features inside include original woodwork, a pocket door, French doors, tall ceilings, and plenty of windows to let in natural light. Office on main floor behind the French doors boast over 168 square feet could easily be used as a bedroom. Upstairs offers a full bathroom, kitchenette, and three bedrooms with multiple closets. Property is being sold as. Cash or conventional. Property does not have a furnace or central air currently installed. upstairs bathroom is missing vanity/sink. No seller disclosure due to be

Key facts

• Tall ceilings
• Pocket door
• French doors

Tags

• WRAP AROUND COVERED PORCH
• ORIGINAL WOODWORK
• POCKET DOOR
• FRENCH DOORS
• TALL CEILINGS
• MULTIPLE CLOSETS

Property features AI

Finance

• Other: Living area recorded as 2,412 (assessor); Vacant occupant status

Exterior

• Parking: Off-street parking; Driveway with asphalt; Garage faces front; Additional parking; 1-car garage
• Utilities: Electricity connected (100 Amp service); Public water; Public sewer; Natural gas connected
• Home design: Two-story house; Fixer condition; Built in 1910
• Construction: Stone construction; Shingle roof
• Exterior features: Front porch; City view; Wood window frames; No pool; Garage(s) on property

Interior

• Kitchen: Microwave
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Office (can be used as bedroom)
• Flooring: Carpet; Vinyl; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: Entrance foyer; High ceilings; 9 total rooms; Has unfinished crawl space basement
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#402 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: employment D+, amenities F, commute F.
• South Newton School Corporation (rural): math 29% / reading 35% proficiency, ranked #219 of 301 in IN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Newton Elementary School (math 37% / reading 32%, grade F, #597 of 994 statewide, top 63%, 416 students, 68% FRL); South Newton Middle School (math 22% / reading 32%, grade F, #234 of 330 statewide, top 71%, 204 students, 71% FRL); South Newton Senior High School (math 24% / reading 64%, grade F, #169 of 369 statewide, top 51%, 242 students, 52% FRL).
• Market conditions: 11 active listings in the ZIP; 24 units permitted in Newton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.6%/yr); year-one equity from $588 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Newton County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.6% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.51% ✓
• Cap rate: 10.44%
• Cash-on-cash: 14.81%
• DSCR: 1.66
• GRM: 5.5

CMA / ARV

• ARV (median comp): $165,579
• List price: $85,000
• Delta: -48.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
102 S Newton St	0.26mi	4/2.5	2,480 (+3%)	2mo	$185,000	$75	80
402 S Iroquois St	0.05mi	3/2.0 (-1)	2,460 (+2%)	14mo	$167,750	$68	77
113 N Newton St	0.35mi	3/2.0 (-1)	2,203 (-9%)	6mo	$267,800	$122	59
110 N Newton St	0.32mi	4/2.5	2,122 (-12%)	11mo	$220,000	$104	54
214 N Iroquois St	0.46mi	3/1.0 (-1)	2,192 (-9%)	2mo	$166,000	$76	53
211 N Newton St	0.46mi	4/2.0	2,576 (+7%)	23mo	$165,000	$64	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.7%
• Equity multiple: 1.27×
• Total profit: $6,413
• Equity at exit: $14,135

10-year hold

• IRR: 15.5%
• Equity multiple: 2.31×
• Total profit: $31,270
• Equity at exit: $9,885

Cash invested: $23,800 (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 47948

• Home prices YoY: -1.0%
• Active inventory: 11
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,280 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$236 /mo · $2,836/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $294

Break-even live

Break-even rent $908

Max offer price $85,000

Occupancy floor 72%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-12
   statusdays on market $85,000 Pending 31 DOM
2. 2026-06-09
   days on market $85,000 Active 29 DOM
3. 2026-06-08
   days on market $85,000 Active 28 DOM
4. 2026-06-07
   days on market $85,000 Active 27 DOM
5. 2026-06-04
   days on market $85,000 Active 23 DOM
6. 2026-06-02
   days on market $85,000 Active 22 DOM
7. 2026-06-01
   days on market $85,000 Active 21 DOM
8. 2026-05-31
   days on market $85,000 Active 20 DOM
9. 2026-05-31
   days on market $85,000 Active 19 DOM
10. 2026-05-11
    listed $85,000 Active 721-char remark

ⓘ 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: $2,836 · $236/mo
• Projected year-2 tax: $2,836 · $236/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 ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $15,362
• − Mortgage interest: −$4,761
• − Property taxes: −$2,836
• − Insurance: −$425
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$2,473
• Taxable income: $2,409
• Est. tax owed @ 24.0%: −$578
• After-tax cash flow: $2,948/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: South Newton School Corporation
• NCES district ID: 1810470
• Math proficiency: 29% ▼ -18.00%
• Reading proficiency: 35% ▼ -14.00%
• Median HH income: $46,624
• Composite: 27.52/100
• National rank: #6952
• State rank: #219 of 301 in IN

Livability — Goodland

• Score: 64/100
• State rank: #402
• US rank: #14749

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Goodland, IN
• Population (ZIP): 1,158

Population outlook (Newton County) Hauer SSP2

• Today (2025): 13,726 people
• By 2030: 13,448 · -2.0%
• By 2040: 12,771 · -7.0%
• By 2050: 12,104 · -11.8%
• By 2075: 11,059 · -19.4%
• By 2100: 9,813 · -28.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Romanian 7% Iranian 5% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Newton

• 2024 margin: Solid R (+57.0) · D 20.8% · R 77.7% · Other 1.5%
• 2008→2024 swing: -45.8pp toward R · 2008: -11.2pp · 2024: -57.0pp
• All cycles: 2024: R+57.0 2020: R+52.1 2016: R+46.1 2012: R+19.1 2008: R+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.61%
• Current HPI: 256.3507
• 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

2 events — show timeline

• 2026-06-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-11 Listed $85,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2024): $2,836 · +8.8% YoY. Source: county tax records.