3 Maple Ct · Washington, IN 47501

$169,000

3 bd · 1.5 ba · 1,902 sqft · SingleFamily public records · 12 Days on market

Built 1951 0.34 ac lot Est $213k · 21% 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).

• Cash flow +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.5/10.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this house located in North School District on a cul-de-sac. The 3 bedroom, 1.5 bath home includes large living room, kitchen, dining room, spacious Master bedroom with lots of closet space, huge bonus room, large back yard partially fenced, and 1-car attached garage.

Key facts

• 3 closets
• Bonus room
• Cul-de-sac

Tags

• CUL-DE-SAC
• PARTIALLY FENCED YARD
• BONUS ROOM
• 3 CLOSETS
• 0.34 ACRE BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/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 $160k (5.4% below list).
• Recommended offer: $160k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 4.9% in Washington — 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 72/100 on livability (#110 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Washington Community Schools (town): math 36% / reading 38% proficiency, ranked #174 of 301 in IN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Upper Elementary (math 44% / reading 43%, grade D, #90 of 330 statewide, top 27%, 361 students, 62% FRL); Washington High School (math 27% / reading 57%, grade F, #197 of 369 statewide, top 57%, 780 students, 58% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 112 active listings in the ZIP; 71 units permitted in Daviess County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $104k; list at $169k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,899 (5.4% below list)

Questions for the listing agent

1. Built in 1951 — 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. 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.
4. 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.
5. 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: 0.95% ✗
• Cap rate: 8.14%
• Cash-on-cash: 6.59%
• DSCR: 1.29
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $213,024
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
219 NE 9th St	0.33mi	3/1.5	1,896 (-0%)	6mo	$212,000	$112	79
415 NE 4th St	0.07mi	3/3.5	1,964 (+3%)	10mo	$240,000	$122	75
208 NE 10th St	0.42mi	3/1.5	1,871 (-2%)	10mo	$175,000	$94	69
207 N Meridian St	0.33mi	3/1.5	2,071 (+9%)	3mo	$165,000	$80	68
410 NW 2nd St	0.34mi	3/1.0	1,768 (-7%)	10mo	$165,000	$93	62
302 W Maple St	0.44mi	4/2.0 (+1)	1,747 (-8%)	2mo	$200,000	$114	57
203 W Walnut St	0.44mi	2/1.0 (-1)	1,746 (-8%)	3mo	$172,000	$99	56
2 Green Acres Rd	0.52mi	2/2.0 (-1)	2,040 (+7%)	3mo	$495,000	$243	54
507 E Viola Ave	0.49mi	3/3.0	2,079 (+9%)	3mo	$150,000	$72	53
1100 Brett Cabel Rd	0.47mi	3/2.0	1,696 (-11%)	9mo	$275,000	$162	50
13 W Hefron St	0.34mi	2/2.0 (-1)	1,645 (-14%)	6mo	$180,000	$109	50
940 NW 2nd St	0.56mi	4/2.5 (+1)	2,160 (+14%)	10mo	$252,000	$117	34

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: -6.2%
• Equity multiple: 0.77×
• Total profit: $-10,900
• Equity at exit: $25,198

10-year hold

• IRR: 3.4%
• Equity multiple: 1.24×
• Total profit: $11,523
• Equity at exit: $14,612

Cash invested: $47,320 (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 47501

• Home prices YoY: -23.2%
• Active inventory: 112
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,599 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$46 /mo · $558/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $260

Break-even live

Break-even rent $1,270

Max offer price $169,000

Occupancy floor 79%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-03-15
   status Pending
2. 2026-03-02
   listed $169,000 Active
3. 2025-10-15
   soldstatus $104,500
4. 2024-05-21
   status Active
5. 2024-04-02
   status Pending
6. 2024-03-06
   price $154,900
7. 2023-12-29
   status Active
8. 2023-12-08
   status Pending
9. 2023-11-03
   listed $159,900 Active
10. 2022-07-19
    soldstatus $140,000 Closed 279-char remark

    Show marketing remark (279 chars)

    Don't miss this house located in North School District on a cul-de-sac. The 3 bedroom, 1.5 bath home includes large living room, kitchen, dining room, spacious Master bedroom with lots of closet space, huge bonus room, large back yard partially fenced, and 1-car attached garage.

11. 2022-06-04
    historical 279-char remark

    Show marketing remark (279 chars)

    Don't miss this house located in North School District on a cul-de-sac. The 3 bedroom, 1.5 bath home includes large living room, kitchen, dining room, spacious Master bedroom with lots of closet space, huge bonus room, large back yard partially fenced, and 1-car attached garage.

12. 2022-05-01
    listed $140,000 279-char remark

    Show marketing remark (279 chars)

    Don't miss this house located in North School District on a cul-de-sac. The 3 bedroom, 1.5 bath home includes large living room, kitchen, dining room, spacious Master bedroom with lots of closet space, huge bonus room, large back yard partially fenced, and 1-car attached garage.

13. 2020-02-14
    soldstatus $100,000
14. 2020-02-06
    soldstatus $74,000
15. 2020-01-24
    soldstatus $74,000
16. 2020-01-08
    listed $74,500

ⓘ 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: $558 · $46/mo
• Projected year-2 tax: $997 · $83/mo
• Expected delta: +$439/yr (+$37/mo · 78.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,188
• − Mortgage interest: −$9,467
• − Property taxes: −$558
• − Insurance: −$845
• − Repairs & maintenance: −$1,535
• − Management: −$1,535
• − Depreciation: −$4,916
• Taxable income: $332
• Est. tax owed @ 24.0%: −$80
• After-tax cash flow: $3,041/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: Washington Community Schools
• NCES district ID: 1812450
• Math proficiency: 36% ▼ -1.00%
• Reading proficiency: 38% ▼ -3.00%
• Median HH income: $45,422
• Composite: 31.57/100
• National rank: #5952
• State rank: #174 of 301 in IN

Livability — Washington

• Score: 72/100
• State rank: #110
• US rank: #5706

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington, IN
• City population: 18,335
• Population (ZIP): 18,335

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 33,940 people
• By 2030: 34,457 · +1.5%
• By 2040: 35,412 · +4.3%
• By 2050: 35,803 · +5.5%
• By 2075: 35,173 · +3.6%
• By 2100: 29,799 · -12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Two or more races 8% Black 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Hispanic 4% Lithuanian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 5% French/Haitian/Cajun 3% German/W. Germanic 1%

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+64.3) · D 17.1% · R 81.5% · Other 1.4%
• 2008→2024 swing: -29.1pp toward R · 2008: -35.2pp · 2024: -64.3pp
• All cycles: 2024: R+64.3 2020: R+62.0 2016: R+62.8 2012: R+50.8 2008: R+35.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.30%
• Current HPI: 213.3049
• 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

+126.8% since first listed

16 events — show timeline

• 2026-03-15 Pending — IRMLS
• 2026-03-02 Listed $169,000 IRMLS
• 2025-10-15 Sold (Public Records) $104,500 Public Records
• 2024-05-21 Relisted — IRMLS
• 2024-04-02 Pending — IRMLS
• 2024-03-06 Price Changed $154,900 IRMLS
• 2023-12-29 Relisted — IRMLS
• 2023-12-08 Pending — IRMLS
• 2023-11-03 Listed $159,900 IRMLS
• 2022-07-19 Sold (MLS) $140,000 IRMLS
• 2022-06-04 Delisted — IRMLS
• 2022-05-01 Listed $140,000 IRMLS
• 2020-02-14 Sold (Public Records) $100,000 Public Records
• 2020-02-06 Sold (Public Records) $74,000 Public Records
• 2020-01-24 Sold (MLS) $74,000 IRMLS
• 2020-01-08 Listed $74,500 IRMLS

Property tax history

-5.4%/yr

Latest (2024): $558 · -0.5% YoY. Source: county tax records.