217 E Sycamore St E · Westport, IN 47283

$112,900

3 bd · 1.0 ba · 1,428 sqft · SingleFamily public records

Built 1900 3,960 sqft lot Est $188k · 40% 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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +5.7/10.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great 3 bedroom / 1 full bath vinyl home in Westport, IN! With a little over 1400 square feet of living space this home offers on the main level a spacious living room, master bedroom, laundry room with a walk-in utility closet, large eat-in kitchen and a bonus room that has potential to be a formal dining or at-home office space. On the upper level is 2 additional bedrooms. Water heater was recently replaced in May 2021. Entertain your family and friends in the fully fenced-in backyard and have summer cookouts on the 16' x 10' deck built in 2020.

Key facts

• 3,960 sq ft lot
• 2 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $113k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $113k).

Location & tenants

• Location reads 62/100 on livability (#475 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Decatur County Community Schools (rural): math 39% / reading 48% proficiency, ranked #107 of 301 in IN (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Decatur Elementary School (math 40% / reading 34%, grade F, #550 of 994 statewide, top 57%, 436 students, 63% FRL); South Decatur Jr-Sr High School (math 20% / reading 44%, grade F, #295 of 369 statewide, top 82%, 387 students, 52% FRL) — zoned schools average 57% FRL vs 36% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 20 active listings in the ZIP; 66 units permitted in Decatur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $781 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Decatur County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $112,900

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 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?
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: 1.07% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.32%
• DSCR: 1.46
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $188,496
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 S Range St	0.14mi	3/2.0	1,466 (+3%)	5mo	$175,000	$119	81
214 E Mulberry St	0.15mi	3/1.0	1,362 (-5%)	15mo	$180,000	$132	73
212 S Lincoln St	0.36mi	3/1.0	1,508 (+6%)	3mo	$215,000	$143	71
105 S East St	0.10mi	3/2.0	1,344 (-6%)	22mo	$138,200	$103	63
1476 E Main St	0.70mi	3/1.0	1,372 (-4%)	22mo	$242,500	$177	42

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: -0.9%
• Equity multiple: 0.97×
• Total profit: $-1,020
• Equity at exit: $16,834

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $21,239
• Equity at exit: $9,762

Cash invested: $31,612 (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 47283

• Home prices YoY: -11.7%
• Active inventory: 20
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,207 medium
• Mortgage (P&I): −$592
• Tax from tax record: −$43 /mo · $513/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $272

Break-even live

Break-even rent $863

Max offer price $112,900

Occupancy floor 72%

Sensitivity live

Price	-10% $336	-5% $304	+0% $272	+5% $240	+10% $208
Rent	-10% $177	-5% $224	+0% $272	+5% $320	+10% $367
Rate	-1.0pp $329	-0.5pp $301	base $272	+0.5pp $243	+1.0pp $213

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: $28,225
• Closing costs: $3,387
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2021-08-04
   historical
2. 2021-07-27
   listed $112,900

ⓘ 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: $513 · $43/mo
• Projected year-2 tax: $736 · $61/mo
• Expected delta: +$224/yr (+$19/mo · 43.6%)

ⓘ 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 ≥103°F today · 20 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,487
• − Mortgage interest: −$6,324
• − Property taxes: −$513
• − Insurance: −$564
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − Depreciation: −$3,284
• Taxable income: $1,483
• Est. tax owed @ 24.0%: −$356
• After-tax cash flow: $2,907/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: Decatur County Community Schools
• NCES district ID: 1802610
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $50,731
• Composite: 37.43/100
• National rank: #4415
• State rank: #107 of 301 in IN

Livability — Westport

• Score: 62/100
• State rank: #475
• US rank: #16769

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westport, IN
• Population (ZIP): 4,085

Population outlook (Decatur County) Hauer SSP2

• Today (2025): 27,709 people
• By 2030: 28,278 · +2.1%
• By 2040: 29,195 · +5.4%
• By 2050: 29,512 · +6.5%
• By 2075: 29,835 · +7.7%
• By 2100: 27,192 · -1.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Romanian 7% Slovak 4% Italian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Decatur

• 2024 margin: Solid R (+58.5) · D 19.9% · R 78.4% · Other 1.8%
• 2008→2024 swing: -34.1pp toward R · 2008: -24.4pp · 2024: -58.5pp
• All cycles: 2024: R+58.5 2020: R+58.1 2016: R+57.4 2012: R+40.5 2008: R+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.63%
• Current HPI: 237.9111
• 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

• 2021-08-04 Delisted — SEIBR
• 2021-07-27 Listed $112,900 SEIBR

Property tax history

-4.7%/yr

Latest (2023): $513 · +16.9% YoY. Source: county tax records.