2621 N Us Highway 421 · Medaryville, IN 47957

$124,900

4 bd · 1.0 ba · 2,991 sqft · SingleFamily public records · 207 Days on market

Built 1999 2.58 ac lot $42/sqft · 31% below area Est $182k · 31% under ↓ 29% since listing

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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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +9.7/10.0
• 1% rule +6.9/10.0
• Schools +2.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This property sits on 2.58 Acres and has an outbuilding ready for use with animals. The home has 5 bedrooms and 3 baths with two extra rooms that can be used as a den, office or storage. There are updates that need to be done and is just waiting for the right person to see its beauty. This property may also be marketed via an auction event at hubzu. The seller will review offers submitted through the website as well as through agent

Key facts

• 2.58 acres
• 2.58 acre lot
• 2 garage spots

Tags

• OUTBUILDING READY FOR USE
• 2.58 ACRES

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#632 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, crime D-, amenities F.
• West Central School Corporation (rural): math 31% / reading 34% proficiency, ranked #211 of 301 in IN (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 25 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($864 loan paydown + $12k appreciation (9.3% local appreciation)).
• Pulaski County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.3% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.19% ✓
• Cap rate: 10.06%
• Cash-on-cash: 13.44%
• DSCR: 1.60
• GRM: 7.0

CMA / ARV

• ARV (median comp): $181,724
• List price: $124,900
• Delta: -31.27%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15248 W Teaberry Hill Ests	0.39mi	3/4.0 (-1)	2,997 (+0%)	15mo	$300,000	$100	52

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

Projected returns pro-forma

9.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.7%
• Equity multiple: 3.27×
• Total profit: $79,221
• Equity at exit: $106,318

10-year hold

• IRR: 26.0%
• Equity multiple: 7.25×
• Total profit: $218,712
• Equity at exit: $222,985

Cash invested: $34,972 (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 47957

• Home prices YoY: 4.1%
• Active inventory: 12
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,480 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$71 /mo · $847/yr
• Insurance: −$52
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $267

Break-even live

Break-even rent $1,143

Max offer price $124,900

Occupancy floor 77%

Sensitivity live

Price	-10% $337	-5% $302	+0% $267	+5% $231	+10% $196
Rent	-10% $150	-5% $208	+0% $267	+5% $325	+10% $384
Rate	-1.0pp $329	-0.5pp $298	base $267	+0.5pp $234	+1.0pp $201

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $124,900 Active 207 DOM
2. 2026-06-18
   days on market $124,900 Active 205 DOM
3. 2026-06-17
   days on market $124,900 Active 204 DOM
4. 2026-06-16
   days on market $124,900 Active 203 DOM
5. 2026-06-15
   days on market $124,900 Active 202 DOM
6. 2026-06-13
   days on market $124,900 Active 200 DOM
7. 2026-06-12
   days on market $124,900 Active 199 DOM
8. 2026-06-09
   days on market $124,900 Active 196 DOM
9. 2026-06-08
   days on market $124,900 Active 195 DOM
10. 2026-06-07
    pricedays on market $124,900 Active 194 DOM
11. 2026-06-05
    days on market $144,900 Active 192 DOM
12. 2026-06-04
    days on market $144,900 Active 190 DOM
13. 2026-06-02
    days on market $144,900 Active 189 DOM
14. 2026-06-01
    days on market $144,900 Active 188 DOM
15. 2026-05-31
    days on market $144,900 Active 187 DOM
16. 2026-05-31
    days on market $144,900 Active 186 DOM
17. 2026-04-29
    price $144,900 436-char remark

    Show marketing remark (436 chars)

    This property sits on 2.58 Acres and has an outbuilding ready for use with animals. The home has 5 bedrooms and 3 baths with two extra rooms that can be used as a den, office or storage. There are updates that need to be done and is just waiting for the right person to see its beauty. This property may also be marketed via an auction event at hubzu. The seller will review offers submitted through the website as well as through agent

18. 2026-02-26
    price $169,900 436-char remark

    Show marketing remark (436 chars)

    This property sits on 2.58 Acres and has an outbuilding ready for use with animals. The home has 5 bedrooms and 3 baths with two extra rooms that can be used as a den, office or storage. There are updates that need to be done and is just waiting for the right person to see its beauty. This property may also be marketed via an auction event at hubzu. The seller will review offers submitted through the website as well as through agent

19. 2026-01-28
    price $184,900 436-char remark

    Show marketing remark (436 chars)

    This property sits on 2.58 Acres and has an outbuilding ready for use with animals. The home has 5 bedrooms and 3 baths with two extra rooms that can be used as a den, office or storage. There are updates that need to be done and is just waiting for the right person to see its beauty. This property may also be marketed via an auction event at hubzu. The seller will review offers submitted through the website as well as through agent

20. 2025-12-29
    price $194,900 436-char remark

    Show marketing remark (436 chars)

    This property sits on 2.58 Acres and has an outbuilding ready for use with animals. The home has 5 bedrooms and 3 baths with two extra rooms that can be used as a den, office or storage. There are updates that need to be done and is just waiting for the right person to see its beauty. This property may also be marketed via an auction event at hubzu. The seller will review offers submitted through the website as well as through agent

21. 2025-11-25
    listed $204,900 Active 436-char remark

    Show marketing remark (436 chars)

    This property sits on 2.58 Acres and has an outbuilding ready for use with animals. The home has 5 bedrooms and 3 baths with two extra rooms that can be used as a den, office or storage. There are updates that need to be done and is just waiting for the right person to see its beauty. This property may also be marketed via an auction event at hubzu. The seller will review offers submitted through the website as well as through agent

ⓘ 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: $847 · $71/mo
• Projected year-2 tax: $954 · $80/mo
• Expected delta: +$107/yr (+$9/mo · 12.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $17,763
• − Mortgage interest: −$6,996
• − Property taxes: −$847
• − Insurance: −$2,127
• − Repairs & maintenance: −$1,421
• − Management: −$1,421
• − Depreciation: −$3,633
• Taxable income: $1,317
• Est. tax owed @ 24.0%: −$316
• After-tax cash flow: $2,883/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: West Central School Corporation
• NCES district ID: 1809360
• Math proficiency: 31% ▼ -6.00%
• Reading proficiency: 34% ▼ -10.00%
• Median HH income: $48,045
• Composite: 28.08/100
• National rank: #6834
• State rank: #211 of 301 in IN

Livability — Medaryville

• Score: 55/100
• State rank: #632
• US rank: #23559

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,067

Population outlook (Pulaski County) Hauer SSP2

• Today (2025): 11,942 people
• By 2030: 11,394 · -4.6%
• By 2040: 10,274 · -14.0%
• By 2050: 9,209 · -22.9%
• By 2075: 7,182 · -39.9%
• By 2100: 5,365 · -55.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Romanian 4% Iranian 4% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Pulaski

• 2024 margin: Solid R (+53.7) · D 22.2% · R 75.9% · Other 1.9%
• 2008→2024 swing: -38.2pp toward R · 2008: -15.5pp · 2024: -53.7pp
• All cycles: 2024: R+53.7 2020: R+47.9 2016: R+46.5 2012: R+27.2 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.31%
• Current HPI: 238.467
• 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

-29.3% since first listed

5 events — show timeline

• 2026-04-29 Price Changed $144,900 NIRA MLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $169,900 NIRA MLS as Distributed by MLS Grid
• 2026-01-28 Price Changed $184,900 NIRA MLS as Distributed by MLS Grid
• 2025-12-29 Price Changed $194,900 NIRA MLS as Distributed by MLS Grid
• 2025-11-25 Listed $204,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2024): $847 · +18.6% YoY. Source: county tax records.