320 Elm St

Lynnville, IN 47619

$96,000B-

3 bd · 2.0 ba · 1,232 sqft · Built 1958 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,048/mo
• Mortgage (P&I): −$503
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$220
• Net cashflow: $149/mo
• Annual: $1,790/yr
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• 1% rule: 1.09%
• Cash to close: $26,880

Investor read

• This is a 3-bed/2.0-bath single-family listed at $96k.
• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $96k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($664 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 67/100 on livability (#251 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, 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: Lynnville Elementary School (math 72% / reading 62%, grade B+, #55 of 994 statewide, top 6%, 199 students, 45% FRL); Tecumseh Middle School (math 38% / reading 55%, grade D+, #72 of 330 statewide, top 22%, 236 students, 37% FRL); Tecumseh High School (math 37% / reading 57%, grade D-, #143 of 369 statewide, top 44%, 284 students, 25% FRL).
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 249 units permitted in Warrick County in 2024 (0 in 5+ unit buildings).
• Warrick County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 9y 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

Questions for listing agent

• Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.