516 John St · Plainville, IN 47568

$79,000

2 bd · 1.0 ba · 996 sqft · SingleFamily public records · 16 Days on market

Built 1924 0.29 ac lot Est $118k · 33% under

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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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +6.3/10.0
• Appreciation +5.0/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Bring your vision to a rare find in the small town of Plainville. A double lot located on the corner with a well-built and maintained house, one car detached garage, and an RV hookup for your empty lot. Property has its own well, a full basement (dry, built of solid blocks), an access ramp leading to the welcoming front porch. Interior features a spacious kitchen leading into the large living area, 2 bedrooms, 1 bath and an open laundry/ entry room. Unfinished basement offers a blank space for improvement or lots of storage. Motivated seller. Property is being sold 'AS IS'

Key facts

• 0.29 acre lot
• Garage
• Built 1924

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($893 rent vs $79k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#321 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, employment D+.
• North Daviess Community Schools (rural): math 32% / reading 46% proficiency, ranked #157 of 301 in IN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Daviess Elementary School (math 37% / reading 44%, grade F, #491 of 994 statewide, top 50%, 637 students, 48% FRL); North Daviess Jr-Sr High School (math 26% / reading 48%, grade F, #247 of 369 statewide, top 70%, 471 students, 49% FRL) — zoned schools average 49% FRL vs 31% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 5 active listings in the ZIP; 71 units permitted in Daviess County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($546 loan paydown + $2k appreciation (3.0% local appreciation)).
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,815 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.13% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.81%
• DSCR: 1.57
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $117,528
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
722 3rd St	0.20mi	2/1.0	1,134 (+14%)	13mo	$134,000	$118	57

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: 19.5%
• Equity multiple: 2.11×
• Total profit: $24,520
• Equity at exit: $35,522

10-year hold

• IRR: 20.7%
• Equity multiple: 3.99×
• Total profit: $66,180
• Equity at exit: $54,743

Cash invested: $22,120 (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 47568

• Active inventory: 5
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $893 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$22 /mo · $262/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $236

Break-even live

Break-even rent $594

Max offer price $79,000

Occupancy floor 69%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-16
   status Pending
2. 2026-03-30
   listed $79,000 Active

ⓘ 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: $262 · $22/mo
• Projected year-2 tax: $467 · $39/mo
• Expected delta: +$205/yr (+$17/mo · 78.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major 68% 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 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,711
• − Mortgage interest: −$4,425
• − Property taxes: −$262
• − Insurance: −$395
• − Repairs & maintenance: −$857
• − Management: −$857
• − Depreciation: −$2,298
• Taxable income: $1,617
• Est. tax owed @ 24.0%: −$388
• After-tax cash flow: $2,445/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: North Daviess Community Schools
• NCES district ID: 1807710
• Math proficiency: 32% ▼ -17.00%
• Reading proficiency: 46% ▼ -11.00%
• Median HH income: $45,197
• Composite: 33.15/100
• National rank: #5552
• State rank: #157 of 301 in IN

Livability — Plainville

• Score: 65/100
• State rank: #321
• US rank: #12613

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plainville, IN
• Population (ZIP): 579

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 33,940 people
• By 2030: 34,457 · +1.5%
• By 2040: 35,412 · +4.3%
• By 2050: 35,803 · +5.5%
• By 2075: 35,173 · +3.6%
• By 2100: 29,799 · -12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 15% Hispanic / Latino 13%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 79% English-only · German/W. Germanic 20% Spanish 1%

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+64.3) · D 17.1% · R 81.5% · Other 1.4%
• 2008→2024 swing: -29.1pp toward R · 2008: -35.2pp · 2024: -64.3pp
• All cycles: 2024: R+64.3 2020: R+62.0 2016: R+62.8 2012: R+50.8 2008: R+35.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

2 events — show timeline

• 2026-04-16 Pending — IRMLS
• 2026-03-30 Listed $79,000 IRMLS

Property tax history

+0.1%/yr

Latest (2024): $262 · +3.7% YoY. Source: county tax records.