8700 W County Road 600 S

Yorktown, IN 47334

$280,000D

3 bd · 1.5 ba · 1,392 sqft · Built 1961 · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,164/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$337
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $-886/mo
• Annual: $-10,628/yr
• Cap rate: 2.50%
• Cash-on-cash: -13.56%
• DSCR: 0.40
• 1% rule: 0.42%
• Cash to close: $78,400

Investor read

• This is a 3-bed/1.5-bath single-family listed at $280k.
• At list price, monthly cash flow is $-886 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (55.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (58.4% below list).
• It's been on market 45 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $116k (58.4% below list) — sets the bar for 1% rule.
• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Location reads 73/100 on livability (#99 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Daleville Community Schools (suburban): math 40% / reading 36% proficiency, ranked #158 of 301 in IN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Daleville Elementary School (math 46% / reading 33%, grade F, #500 of 994 statewide, top 53%, 567 students, 63% FRL); Daleville Jr-Sr High School (math 31% / reading 40%, grade F, #263 of 369 statewide, top 72%, 451 students, 47% FRL) — zoned schools average 55% FRL vs 29% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 18 active listings in the ZIP; 171 units permitted in Delaware County in 2024 (57 in 5+ unit buildings).
• Delaware County population projected at -11% 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.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 2.5% vs local median 3.5% in Yorktown — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 45 days. Have you received any prior offers? Is the seller open to a 58% concession, seller financing, or rate buy-down credit?
• Built in 1961 — 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?
• 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.
• 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.