25 W Stump St

Williamsport, IN 47993

$143,500D

2 bd · 1.0 ba · 1,024 sqft · Built 1951 · SingleFamily · Active · 74 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $799/mo
• Mortgage (P&I): −$753
• Tax + insurance: −$109
• HOA: −$0
• Vac / Maint / Mgmt: −$168
• Net cashflow: $-230/mo
• Annual: $-2,765/yr
• Cap rate: 4.37%
• Cash-on-cash: -6.88%
• DSCR: 0.69
• 1% rule: 0.56%
• Cash to close: $40,180

Investor read

• This is a 2-bed/1.0-bath single-family listed at $144k.
• At list price, monthly cash flow is $-230 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (28.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $80k (44.3% below list).
• It's been on market 74 days — a 6% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $80k (44.3% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($992 loan paydown + $10k appreciation (6.8% local appreciation)).
• Location reads 75/100 on livability (#59 in IN, #4,014 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools D+, amenities F.
• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 comparable units currently listed for rent nearby; 27 units permitted in Warren County in 2024 (0 in 5+ unit buildings).
• Warren County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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 $79k; list at $144k implies a 81% gain — meaningful room to come down on a strong offer.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 74 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
• Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.