208 E Sherman St · Windfall City, IN 46076

$75,000

2 bd · 1.0 ba · 1,238 sqft · SingleFamily · 1 Days on market

Built 1910 7,841 sqft lot Est $115k · 35% under

---

Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Appreciation +8.4/10.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 7,841 sq ft lot
• 2 garage spots
• Built 1910

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).

Location & tenants

• Location reads 57/100 on livability (#609 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: employment D+, crime D, schools F.
• Tri-Central Community Schools (rural): math 28% / reading 39% proficiency, ranked #196 of 301 in IN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 32 units permitted in Tipton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($519 loan paydown + $5k appreciation (6.9% local appreciation)).
• Tipton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.9% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1910 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.42% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.40%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $115,134
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 W Sherman St	0.36mi	2/1.0	1,200 (-3%)	2mo	$92,500	$77	76
115 E Mcallister Rd	0.16mi	2/1.0	1,078 (-13%)	4mo	$159,900	$148	68
218 E Delaware St	0.29mi	3/2.0 (+1)	1,232 (-0%)	16mo	$115,000	$93	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.4%
• Equity multiple: 3.20×
• Total profit: $46,234
• Equity at exit: $51,465

10-year hold

• IRR: 29.6%
• Equity multiple: 6.67×
• Total profit: $119,126
• Equity at exit: $97,303

Cash invested: $21,000 (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 46076

• Home prices YoY: 2.4%
• Active inventory: 12
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,064 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $322

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 65%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-06-19
   listed $75,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,764
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$2,182
• Taxable income: $2,838
• Est. tax owed @ 24.0%: −$681
• After-tax cash flow: $3,182/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: Tri-Central Community Schools
• NCES district ID: 1808040
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $54,902
• Composite: 29.54/100
• National rank: #6492
• State rank: #196 of 301 in IN

Livability — Windfall City

• Score: 57/100
• State rank: #609
• US rank: #21957

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Windfall City, IN
• Population (ZIP): 1,754

Population outlook (Tipton County) Hauer SSP2

• Today (2025): 14,332 people
• By 2030: 13,717 · -4.3%
• By 2040: 12,357 · -13.8%
• By 2050: 11,032 · -23.0%
• By 2075: 8,640 · -39.7%
• By 2100: 6,544 · -54.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 5%
• Common ancestry: Iranian 4% Slovak 2% Lithuanian 1%
• Languages at home: 97% English-only · Spanish 2% Tagalog/Filipino 1%

Political lean MEDSL · Tipton

• 2024 margin: Solid R (+50.8) · D 23.7% · R 74.5% · Other 1.7%
• 2008→2024 swing: -35.5pp toward R · 2008: -15.4pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+52.7 2016: R+53.3 2012: R+31.8 2008: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.90%
• Current HPI: 289.8652
• 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