416 S State St · Chandler, IN 47610

$140,000

4 bd · 2.0 ba · 1,848 sqft · SingleFamily public records · 32 Days on market

Built 1900 0.25 ac lot $76/sqft · 12% below area Est $240k · 42% under ↓ 3% since listing

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Why this score? — see what drove the B- 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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Schools +4.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

With a spacious layout this home provides an incredible amount of interior flexibility. Whether you need a dedicated home office, a hobby room, or a formal dining area, the footprint supports a variety of lifestyles. Originally built in 1900, this home has been updated over the years for modern living but still reflects the classic architectural style. The level quarter-acre lot offers a generous backyard, perfect for gardening, outdoor entertaining, or adding a storage shed. The property includes a carport, providing sheltered parking and keeping your vehicle out of the elements.

Key facts

• Outdoor entertaining
• Hobby room
• Formal dining area

Tags

• DEDICATED HOME OFFICE
• HOBBY ROOM
• FORMAL DINING AREA
• LEVEL QUARTER-ACRE LOT
• GENEROUS BACKYARD
• OUTDOOR ENTERTAINING

Property features AI

Exterior

• Parking: 2-car garage; Carport; Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One-story
• Construction: Aluminum siding; Vinyl siding; Asphalt shingle roof; Crawl space foundation; Built as a site-built home
• Exterior features: Covered porch; Level lot

Interior

• Kitchen: Electric oven
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Electric oven; One fireplace
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.9% in Chandler — 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 66/100 on livability (#282 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, amenities F, commute F.
• Warrick County School Corporation (suburban): math 54% / reading 59% proficiency, ranked #24 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Chandler Elementary School (math 56% / reading 54%, grade C, #192 of 994 statewide, top 20%, 575 students, 57% FRL); Castle North Middle School (math 57% / reading 59%, grade B, #18 of 330 statewide, top 5%, 770 students, 22% FRL); Castle High School (math 56% / reading 80%, grade B, #22 of 369 statewide, top 6%, 1,961 students, 26% FRL).
• Market conditions: 63 active listings in the ZIP; 249 units permitted in Warrick County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Warrick County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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.
5. 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.
6. 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: 1.12% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.30%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (median comp): $240,297
• List price: $140,000
• Delta: -41.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 W Williams St	0.20mi	4/2.0	1,708 (-8%)	10mo	$180,000	$105	69
509 E Jefferson Ave	0.60mi	3/2.0 (-1)	1,670 (-10%)	0mo	$230,500	$138	50
318 W Jefferson St	0.62mi	5/1.5 (+1)	1,764 (-4%)	11mo	$210,000	$119	48
144 Grape Ct	0.47mi	3/2.0 (-1)	2,028 (+10%)	12mo	$228,500	$113	46
510 E Madison Ave	0.58mi	4/2.0	1,632 (-12%)	13mo	$219,900	$135	42
517 N 5th St	0.71mi	4/2.0	1,661 (-10%)	23mo	$255,000	$154	31

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: -3.7%
• Equity multiple: 0.86×
• Total profit: $-5,404
• Equity at exit: $20,874

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $17,609
• Equity at exit: $12,105

Cash invested: $39,200 (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 47610

• Home prices YoY: -23.6%
• Active inventory: 63
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,565 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$173 /mo · $2,074/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $271

Break-even live

Break-even rent $1,222

Max offer price $140,000

Occupancy floor 78%

Sensitivity live

Price	-10% $350	-5% $311	+0% $271	+5% $231	+10% $192
Rent	-10% $147	-5% $209	+0% $271	+5% $333	+10% $395
Rate	-1.0pp $341	-0.5pp $307	base $271	+0.5pp $235	+1.0pp $198

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-15
   statusdays on market $140,000 Pending 32 DOM
2. 2026-06-14
   days on market $140,000 Active 31 DOM
3. 2026-06-13
   days on market $140,000 Active 30 DOM
4. 2026-06-10
   days on market $140,000 Active 28 DOM
5. 2026-06-09
   days on market $140,000 Active 27 DOM
6. 2026-06-08
   days on market $140,000 Active 26 DOM
7. 2026-06-07
   days on market $140,000 Active 25 DOM
8. 2026-06-02
   days on market $140,000 Active 20 DOM
9. 2026-06-01
   days on market $140,000 Active 19 DOM
10. 2026-05-31
    days on market $140,000 Active 18 DOM
11. 2026-05-30
    days on market $140,000 Active 17 DOM
12. 2026-05-12
    listed $145,000 Active 587-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: $2,074 · $173/mo
• Projected year-2 tax: $2,074 · $173/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,780
• − Mortgage interest: −$7,842
• − Property taxes: −$2,074
• − Insurance: −$700
• − Repairs & maintenance: −$1,502
• − Management: −$1,502
• − Depreciation: −$4,073
• Taxable income: $1,086
• Est. tax owed @ 24.0%: −$261
• After-tax cash flow: $2,991/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: Warrick County School Corporation
• NCES district ID: 1812390
• Math proficiency: 54% ▼ -8.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $62,801
• Composite: 49.38/100
• National rank: #2014
• State rank: #24 of 301 in IN

Livability — Chandler

• Score: 66/100
• State rank: #282
• US rank: #11582

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chandler, IN
• Population (ZIP): 5,695

Population outlook (Warrick County) Hauer SSP2

• Today (2025): 66,569 people
• By 2030: 68,404 · +2.8%
• By 2040: 71,131 · +6.9%
• By 2050: 72,743 · +9.3%
• By 2075: 76,088 · +14.3%
• By 2100: 72,261 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 5%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Warrick

• 2024 margin: Solid R (+30.2) · D 34.1% · R 64.3% · Other 1.5%
• 2008→2024 swing: -17.4pp toward R · 2008: -12.8pp · 2024: -30.2pp
• All cycles: 2024: R+30.2 2020: R+27.8 2016: R+33.9 2012: R+26.6 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.36%
• Current HPI: 234.6102
• 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

-3.4% since first listed

3 events — show timeline

• 2026-06-15 Pending — IRMLS
• 2026-05-22 Price Changed $140,000 IRMLS
• 2026-05-12 Listed $145,000 IRMLS

Property tax history

+7.3%/yr

Latest (2024): $2,074 · +2.3% YoY. Source: county tax records.