1011 N 310 E

Jasper, IN 47546

$74,000B

1 bd · 1.0 ba · 1,248 sqft · Built 1984 · SingleFamily · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,262/mo
• Mortgage (P&I): −$388
• Tax + insurance: −$266
• HOA: −$0
• Vac / Maint / Mgmt: −$265
• Net cashflow: $343/mo
• Annual: $4,120/yr
• Cap rate: 13.89%
• Cash-on-cash: 27.14%
• DSCR: 2.21
• 1% rule: 1.71%
• Cash to close: $20,720

Investor read

• This is a 1-bed/1.0-bath single-family listed at $74k.
• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• It's been on market 30 days — a 2% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $512 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#25 in IN, #2,183 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Northeast Dubois County School Corporation (rural): math 56% / reading 48% proficiency, ranked #40 of 301 in IN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Northeast Dubois Elementary School (235 students, 29% FRL); Northeast Dubois Intermediate School (math 62% / reading 42%, grade C-, #237 of 994 statewide, top 26%, 231 students, 28% FRL); Northeast Dubois Jr/Sr High School (math 47% / reading 57%, grade D+, #106 of 369 statewide, top 31%, 368 students, 25% FRL).
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: 14 active listings in the ZIP; 197 units permitted in Dubois County in 2024 (20 in 5+ unit buildings).
• Dubois County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 2y 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 $60k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.
• 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.