6283 W Division Line Rd · Delphi, IN 46923

$210,000

2 bd · 1.0 ba · 1,352 sqft · SingleFamily public records · 30 Days on market

Built 1971 0.75 ac lot $155/sqft · 19% below area Est $258k · 19% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.7/30.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Very affordable, move in ready, and in a very convenient location are just a few of the ways you can describe this property. Come check out this very nice home that is ready for new owners to make it their own. This home features three bedrooms and one full bath as well as a large eat in kitchen, you will also find a nice attached two car garage. The metal roof will last a very long time for the new owner, saving lots of maintenance down the road. Outside there is a large deck in the back for relaxing with family and friends. Don't delay on this one! This property is being sold AS-IS only.

Key facts

• 0.75 acre lot
• 2 garage spots
• Built 1971

Property features AI

Finance

• Other: Lot approximately 0.75 acre (irregular shape)

Exterior

• Parking: Attached garage with 2 parking spaces; Garage with opener; Asphalt driveway
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residential site-built home; Single-story
• Construction: Vinyl siding; Metal roof; Block foundation; Built as site-built construction
• Exterior features: Deck; Shed(s); Corner lot; Level lot

Interior

• Kitchen: Dishwasher; Refrigerator; Gas range
• Bedrooms: Total of 7 rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Laminate counters; One fireplace
• Laundry & utility: Washer hookup on main level; Gas dryer hookup on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-238 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (37.5% below list).
• Recommended offer: $131k (37.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#112 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Delphi Community School Corporation (town): math 36% / reading 41% proficiency, ranked #160 of 301 in IN (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Delphi Community Elementary School (math 37% / reading 31%, grade F, #627 of 994 statewide, top 63%, 623 students, 54% FRL); Delphi Community Middle School (math 31% / reading 43%, grade F, #152 of 330 statewide, top 47%, 333 students, 49% FRL); Delphi Community High School (math 47% / reading 67%, grade C, #64 of 369 statewide, top 18%, 405 students, 46% FRL).
• Market conditions: 45 active listings in the ZIP; 32 units permitted in Carroll 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 $6k of value loss. Plan a longer hold.
• Carroll County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Recommended offer $131,168 (37.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 0.62% ✗
• Cap rate: 4.93%
• Cash-on-cash: -4.86%
• DSCR: 0.78
• GRM: 13.3

CMA / ARV

• ARV (median comp): $258,220
• List price: $210,000
• Delta: -18.67%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6965 W Division Line Rd	0.67mi	3/1.5 (+1)	1,200 (-11%)	14mo	$255,000	$213	32

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: -24.6%
• Equity multiple: 0.16×
• Total profit: $-49,292
• Equity at exit: $31,312

10-year hold

• IRR: -20.4%
• Equity multiple: -0.07×
• Total profit: $-62,823
• Equity at exit: $18,157

Cash invested: $58,800 (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 46923

• Home prices YoY: -10.5%
• Active inventory: 45
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $1,312 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$86 /mo · $1,029/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $-238

Break-even live

Break-even rent $1,613

Max offer price $167,912

Occupancy floor —

Sensitivity live

Price	-10% $-119	-5% $-179	+0% $-238	+5% $-298	+10% $-357
Rent	-10% $-342	-5% $-290	+0% $-238	+5% $-186	+10% $-135
Rate	-1.0pp $-132	-0.5pp $-185	base $-238	+0.5pp $-293	+1.0pp $-348

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-05
   statusdays on market $210,000 Pending 30 DOM
2. 2026-06-03
   days on market $210,000 Active 29 DOM
3. 2026-06-02
   days on market $210,000 Active 28 DOM
4. 2026-06-01
   days on market $210,000 Active 27 DOM
5. 2026-05-31
   days on market $210,000 Active 26 DOM
6. 2026-05-30
   days on market $210,000 Active 25 DOM
7. 2026-05-14
   price $210,000 596-char remark
8. 2026-05-05
   price $220,000 596-char remark
9. 2026-05-05
   listed $200,000 Active 596-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: $1,029 · $86/mo
• Projected year-2 tax: $1,407 · $117/mo
• Expected delta: +$378/yr (+$32/mo · 36.8%)

ⓘ 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 0% 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: $15,740
• − Mortgage interest: −$11,763
• − Property taxes: −$1,029
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$6,109
• Taxable loss: −$6,729
• Est. tax savings @ 24.0%: +$1,615
• After-tax cash flow: $-1,244/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: Delphi Community School Corporation
• NCES district ID: 1802700
• Math proficiency: 36% ▼ -11.00%
• Reading proficiency: 41% ▼ -8.00%
• Median HH income: $47,044
• Composite: 32.95/100
• National rank: #5589
• State rank: #160 of 301 in IN

Livability — Delphi

• Score: 72/100
• State rank: #112
• US rank: #5934

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,036

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 19,409 people
• By 2030: 18,970 · -2.3%
• By 2040: 17,934 · -7.6%
• By 2050: 16,753 · -13.7%
• By 2075: 14,084 · -27.4%
• By 2100: 11,350 · -41.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+52.1) · D 23.1% · R 75.2% · Other 1.7%
• 2008→2024 swing: -39.3pp toward R · 2008: -12.8pp · 2024: -52.1pp
• All cycles: 2024: R+52.1 2020: R+51.2 2016: R+50.9 2012: R+30.3 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.54%
• Current HPI: 261.2451
• 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

+5.0% since first listed

4 events — show timeline

• 2026-06-04 Pending — IRMLS
• 2026-05-14 Price Changed $210,000 IRMLS
• 2026-05-05 Price Changed $220,000 IRMLS
• 2026-05-05 Listed $200,000 IRMLS

Property tax history

+7.5%/yr

Latest (2025): $1,029 · +10.4% YoY. Source: county tax records.