10877 Mccracken Dr · Poland, IN 47868

$149,400

3 bd · 2.0 ba · 1,728 sqft · Condo public records · 65 Days on market

Built 2002 $86/sqft · 6% above area Est $141k · 6% over ↓ 4% since listing

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Why this score? — see what drove the D+ 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 +14.8/30.0
• Appreciation +10.0/10.0
• ARV discount +4.9/15.0
• DSCR +4.5/10.0
• Schools +3.2/10.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3-Bedroom / 2-Full Bathroom home is on 13.67 acres in Owen County, near Cataract Falls and Lake Cataract. Enjoy the seclusion and privacy and watch mother nature. No close by neighbors yet still within good proximity to interstate and nearby towns. Great Room / family room w/ wood-burning fireplace for those cold winter nights. If you're looking to get away and enjoy the city hassle than this home is a must see! Lots 14,15 and 16. Parcels 60-03-29-300-110.140-019 / 60-03-29-300-110.140-019 / 60-03-29-300-110.160.019 TOTAL 13.67

Key facts

• 6.43 acre lot
• Built 2002
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $149k.

Deal economics

• At list price, monthly cash flow is $42 ($506/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (19.1% below list).
• Recommended offer: $121k (19.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Cloverdale Community Schools (rural): math 36% / reading 40% proficiency, ranked #167 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 active listings in the ZIP; 120 units permitted in Owen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Owen County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 20y ago; this cycle's ask has dropped $17k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $120,822 (19.1% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• GRM: 10.3

CMA / ARV

• ARV (median comp): $141,202
• List price: $149,400
• Delta: 5.81%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 3.01×
• Total profit: $83,999
• Equity at exit: $134,591

10-year hold

• IRR: 22.2%
• Equity multiple: 6.86×
• Total profit: $245,139
• Equity at exit: $290,251

Cash invested: $41,832 (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 47868

• Home prices YoY: 9.8%
• Active inventory: 29
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,208 medium
• Mortgage (P&I): −$783
• Tax from tax record: −$67 /mo · $799/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $42

Break-even live

Break-even rent $1,155

Max offer price $149,400

Occupancy floor 92%

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: $37,350
• Closing costs: $4,482
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $149,400 Active 65 DOM
2. 2026-06-17
   days on market $149,400 Active 64 DOM
3. 2026-06-16
   days on market $149,400 Active 63 DOM
4. 2026-06-15
   days on market $149,400 Active 62 DOM
5. 2026-06-13
   days on market $149,400 Active 60 DOM
6. 2026-06-09
   days on market $149,400 Active 56 DOM
7. 2026-06-08
   days on market $149,400 Active 55 DOM
8. 2026-06-07
   days on market $149,400 Active 54 DOM
9. 2026-06-03
   days on market $149,400 Active 50 DOM
10. 2026-06-02
    days on market $149,400 Active 49 DOM
11. 2026-06-02
    price $149,400 Active 48 DOM
12. 2026-06-01
    days on market $166,000 Active 48 DOM
13. 2026-05-31
    days on market $166,000 Active 47 DOM
14. 2026-04-14
    listed $166,000 Active 533-char remark

    Show marketing remark (535 chars)

    3-Bedroom / 2-Full Bathroom home is on 13.67 acres in Owen County, near Cataract Falls and Lake Cataract. Enjoy the seclusion and privacy and watch mother nature. No close by neighbors yet still within good proximity to interstate and nearby towns. Great Room / family room w/wood-burning fireplace for those cold winter nights. If you're looking to get away and enjoy the city hassle than this home is a must see! Lots 14,15 and 16. Parcels 60-03-29-300-110.140-019 / 60-03-29-300-110.140-019 / 60-03-29-300-110.160.019 TOTAL 13.67

15. 2026-04-14
    listed $166,000 Active 535-char remark

    Show marketing remark (535 chars)

    3-Bedroom / 2-Full Bathroom home is on 13.67 acres in Owen County, near Cataract Falls and Lake Cataract. Enjoy the seclusion and privacy and watch mother nature. No close by neighbors yet still within good proximity to interstate and nearby towns. Great Room / family room w/wood-burning fireplace for those cold winter nights. If you're looking to get away and enjoy the city hassle than this home is a must see! Lots 14,15 and 16. Parcels 60-03-29-300-110.140-019 / 60-03-29-300-110.140-019 / 60-03-29-300-110.160.019 TOTAL 13.67

16. 2024-05-31
    soldstatus $165,120
17. 2016-04-13
    soldstatus $141,000
18. 2015-12-29
    listed $140,000
19. 2015-10-04
    historical
20. 2015-04-28
    listed $138,900
21. 2014-12-30
    historical
22. 2014-06-30
    listed $149,000
23. 2014-06-30
    listed $149,000
24. 2013-08-23
    historical
25. 2013-02-21
    listed $149,900
26. 2011-08-31
    historical
27. 2010-06-16
    listed $165,000
28. 2009-07-12
    historical
29. 2009-01-12
    listed $173,000
30. 2008-10-02
    historical
31. 2008-04-02
    listed $169,900
32. 2007-10-31
    historical
33. 2007-08-09
    listed $170,000
34. 2007-06-30
    historical
35. 2007-02-11
    listed $170,000
36. 2006-07-07
    historical
37. 2006-01-07
    listed $173,000

ⓘ 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: $799 · $67/mo
• Projected year-2 tax: $1,034 · $86/mo
• Expected delta: +$235/yr (+$20/mo · 29.5%)

ⓘ 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 ≥103°F today · 18 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: $14,499
• − Mortgage interest: −$8,369
• − Property taxes: −$799
• − Insurance: −$747
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$4,346
• Taxable loss: −$2,082
• Est. tax savings @ 24.0%: +$500
• After-tax cash flow: $1,006/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: Cloverdale Community Schools
• NCES district ID: 1802220
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 40% ▼ -14.00%
• Median HH income: $44,267
• Composite: 32.28/100
• National rank: #5753
• State rank: #167 of 301 in IN

Livability — Poland

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

Census & demographics

• Population (ZIP): 2,870

Population outlook (Owen County) Hauer SSP2

• Today (2025): 19,045 people
• By 2030: 17,930 · -5.9%
• By 2040: 15,507 · -18.6%
• By 2050: 13,253 · -30.4%
• By 2075: 9,364 · -50.8%
• By 2100: 6,686 · -64.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 3% Two or more races 1%
• Common ancestry: Iranian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Owen

• 2024 margin: Solid R (+50.7) · D 23.8% · R 74.5% · Other 1.6%
• 2008→2024 swing: -40.3pp toward R · 2008: -10.3pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+49.1 2016: R+49.4 2012: R+27.6 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.99%
• Current HPI: 246.3509
• 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

-4.0% since first listed

24 events — show timeline

• 2026-04-14 Listed $166,000 MIBOR as Distributed by MLS Grid
• 2026-04-14 Listed $166,000 THAAR
• 2024-05-31 Sold (Public Records) $165,120 Public Records
• 2016-04-13 Sold (MLS) $141,000 MIBOR as Distributed by MLS Grid
• 2015-12-29 Listed $140,000 MIBOR as Distributed by MLS Grid
• 2015-10-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-04-28 Listed $138,900 MIBOR as Distributed by MLS Grid
• 2014-12-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-06-30 Listed $149,000 MIBOR as Distributed by MLS Grid
• 2014-06-30 Listed $149,000 IRMLS
• 2013-08-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-02-21 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2011-08-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-06-16 Listed $165,000 MIBOR as Distributed by MLS Grid
• 2009-07-12 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-01-12 Listed $173,000 MIBOR as Distributed by MLS Grid
• 2008-10-02 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-04-02 Listed $169,900 MIBOR as Distributed by MLS Grid
• 2007-10-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-08-09 Listed $170,000 MIBOR as Distributed by MLS Grid
• 2007-06-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-02-11 Listed $170,000 MIBOR as Distributed by MLS Grid
• 2006-07-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-01-07 Listed $173,000 MIBOR as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2024): $799 · -5.7% YoY. Source: county tax records.