1208 Elm St · Rochester, IN 46975

$83,000

2 bd · 1.0 ba · 954 sqft · SingleFamily public records · 204 Days on market

Built 1920 7,405 sqft lot $87/sqft · 34% below area Est $126k · 34% under ↓ 1% 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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* Seller financing available * Discover the potential in this 2-bedroom, 1-bath home located right in town and close to local conveniences. This property is perfect for investors or buyers looking for a project with great upside. The layout offers an opportunity to update, remodel, or expand, making it an ideal opportunity to create a profitable rental or starter home. With its in-town location and promising possibilities, this home is ready for the right vision to bring it to life. Don’t miss out on a property with this much potential!

Key facts

• 7,405 sq ft lot
• Built 1920
• Listed 204 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $83k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $83k).
• Recommended offer: $73k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 2.4% in Rochester — 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 69/100 on livability (#206 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, schools F, amenities F.
• Rochester Community School Corporation (town): math 31% / reading 41% proficiency, ranked #188 of 301 in IN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 97 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 23 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $574 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Fulton County population projected at -13% 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 $23k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 204 days — a 12% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 204 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.24% ✓
• Cap rate: 10.21%
• Cash-on-cash: 13.98%
• DSCR: 1.62
• GRM: 6.7

CMA / ARV

• ARV (median comp): $126,498
• List price: $83,000
• Delta: -34.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
640 E 12th St	0.11mi	3/1.0 (+1)	869 (-9%)	4mo	$79,100	$91	72
1109 Jackson Blvd	0.50mi	2/1.0	934 (-2%)	4mo	$140,000	$150	70
1226 Wabash Ave	0.30mi	2/1.0	880 (-8%)	9mo	$125,000	$142	65
955 E 9th St	0.43mi	2/1.0	1,032 (+8%)	1mo	$140,000	$136	65
1119 Rochester Blvd	0.51mi	3/2.0 (+1)	1,040 (+9%)	0mo	$215,000	$207	52
1714 Audubon Ave	0.43mi	2/1.0	864 (-9%)	16mo	$85,000	$98	51
1655 Monroe St	0.34mi	3/1.0 (+1)	860 (-10%)	16mo	$110,000	$128	50
1221 Washington St	0.47mi	3/1.0 (+1)	1,026 (+8%)	14mo	$174,000	$170	48
710 E 4th St	0.73mi	2/1.0	980 (+3%)	16mo	$165,000	$168	48
1529 College Ave	0.32mi	3/2.0 (+1)	1,092 (+14%)	7mo	$189,000	$173	46
128 W 7th St	0.53mi	3/1.0 (+1)	1,072 (+12%)	5mo	$120,000	$112	45
1139 Rochester Blvd	0.52mi	3/1.0 (+1)	1,053 (+10%)	10mo	$194,000	$184	45

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: 4.2%
• Equity multiple: 1.16×
• Total profit: $3,794
• Equity at exit: $12,376

10-year hold

• IRR: 13.7%
• Equity multiple: 2.10×
• Total profit: $25,498
• Equity at exit: $7,176

Cash invested: $23,240 (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 46975

• Home prices YoY: -28.7%
• Active inventory: 97
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,030 medium
• Mortgage (P&I): −$435
• Tax from tax record: −$73 /mo · $880/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $271

Break-even live

Break-even rent $688

Max offer price $83,000

Occupancy floor 69%

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: $20,750
• Closing costs: $2,490
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1707 Madison St Rochester, IN	2.0	1.0	1000	$1,195	$1.20	23d	1	0.44mi
421 Westwood Ln Rochester, IN	2.0	1.0	657	$910	$1.38	23d	1	0.58mi
2203 E State Road 14 Unit 3 Rochester, IN	2.0	1.0	650	$950	$1.46	43d	1	1.37mi
2203 Indiana 14 Rochester, IN	2.0	1.0	650	$950	$1.46	43d	1	1.37mi

Listing history 19 events

1. 2026-06-18
   days on market $83,000 Active 204 DOM
2. 2026-06-17
   days on market $83,000 Active 203 DOM
3. 2026-06-16
   days on market $83,000 Active 202 DOM
4. 2026-06-15
   days on market $83,000 Active 201 DOM
5. 2026-06-14
   days on market $83,000 Active 199 DOM
6. 2026-06-10
   days on market $83,000 Active 196 DOM
7. 2026-06-09
   days on market $83,000 Active 195 DOM
8. 2026-06-08
   days on market $83,000 Active 194 DOM
9. 2026-06-07
   days on market $83,000 Active 193 DOM
10. 2026-06-03
    days on market $83,000 Active 189 DOM
11. 2026-06-02
    days on market $83,000 Active 188 DOM
12. 2026-06-01
    days on market $83,000 Active 187 DOM
13. 2026-05-31
    days on market $83,000 Active 186 DOM
14. 2026-05-31
    days on market $83,000 Active 185 DOM
15. 2026-05-07
    status Active 549-char remark

    Show marketing remark (549 chars)

    * Seller financing available * Discover the potential in this 2-bedroom, 1-bath home located right in town and close to local conveniences. This property is perfect for investors or buyers looking for a project with great upside. The layout offers an opportunity to update, remodel, or expand, making it an ideal opportunity to create a profitable rental or starter home. With its in-town location and promising possibilities, this home is ready for the right vision to bring it to life. Don’t miss out on a property with this much potential!

16. 2026-05-07
    historical 549-char remark

    Show marketing remark (549 chars)

    * Seller financing available * Discover the potential in this 2-bedroom, 1-bath home located right in town and close to local conveniences. This property is perfect for investors or buyers looking for a project with great upside. The layout offers an opportunity to update, remodel, or expand, making it an ideal opportunity to create a profitable rental or starter home. With its in-town location and promising possibilities, this home is ready for the right vision to bring it to life. Don’t miss out on a property with this much potential!

17. 2026-03-27
    status Active 549-char remark

    Show marketing remark (549 chars)

    * Seller financing available * Discover the potential in this 2-bedroom, 1-bath home located right in town and close to local conveniences. This property is perfect for investors or buyers looking for a project with great upside. The layout offers an opportunity to update, remodel, or expand, making it an ideal opportunity to create a profitable rental or starter home. With its in-town location and promising possibilities, this home is ready for the right vision to bring it to life. Don’t miss out on a property with this much potential!

18. 2026-02-21
    price $88,000 549-char remark

    Show marketing remark (549 chars)

    * Seller financing available * Discover the potential in this 2-bedroom, 1-bath home located right in town and close to local conveniences. This property is perfect for investors or buyers looking for a project with great upside. The layout offers an opportunity to update, remodel, or expand, making it an ideal opportunity to create a profitable rental or starter home. With its in-town location and promising possibilities, this home is ready for the right vision to bring it to life. Don’t miss out on a property with this much potential!

19. 2025-11-26
    listed $89,000 Active 549-char remark

    Show marketing remark (549 chars)

    * Seller financing available * Discover the potential in this 2-bedroom, 1-bath home located right in town and close to local conveniences. This property is perfect for investors or buyers looking for a project with great upside. The layout offers an opportunity to update, remodel, or expand, making it an ideal opportunity to create a profitable rental or starter home. With its in-town location and promising possibilities, this home is ready for the right vision to bring it to life. Don’t miss out on a property with this much potential!

ⓘ 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: $880 · $73/mo
• Projected year-2 tax: $880 · $73/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 ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,364
• − Mortgage interest: −$4,649
• − Property taxes: −$880
• − Insurance: −$415
• − Repairs & maintenance: −$989
• − Management: −$989
• − Depreciation: −$2,415
• Taxable income: $2,027
• Est. tax owed @ 24.0%: −$486
• After-tax cash flow: $2,763/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: Rochester Community School Corporation
• NCES district ID: 1809630
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 41% ▲ 2.00%
• Median HH income: $42,645
• Composite: 30.44/100
• National rank: #6231
• State rank: #188 of 301 in IN

Livability — Rochester

• Score: 69/100
• State rank: #206
• US rank: #9060

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, IN
• County: Fulton County · 13,824 people
• City population: 13,824
• Metro: nan
• Population (ZIP): 13,824
• Household income: $61,185
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 238.0

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 19,537 people
• By 2030: 19,013 · -2.7%
• By 2040: 17,959 · -8.1%
• By 2050: 17,038 · -12.8%
• By 2075: 15,117 · -22.6%
• By 2100: 13,179 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Iranian 2% Scottish 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+51.2) · D 23.7% · R 74.9% · Other 1.4%
• 2008→2024 swing: -35.2pp toward R · 2008: -16.0pp · 2024: -51.2pp
• All cycles: 2024: R+51.2 2020: R+48.2 2016: R+48.4 2012: R+33.2 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.72%
• Current HPI: 212.9033
• Rent YoY: —
• Metro: nan
• 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

-1.1% since first listed

5 events — show timeline

• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-03-27 Relisted — IRMLS
• 2026-02-21 Price Changed $88,000 IRMLS
• 2025-11-26 Listed $89,000 IRMLS

Property tax history

+12.9%/yr

Latest (2024): $880 · -0.9% YoY. Source: county tax records.