1108 W Pearl St · Union City, IN 47390

$89,900

2 bd · 1.0 ba · 748 sqft · SingleFamily public records · 27 Days on market

Built 1921 8,276 sqft lot

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Why this score? — see what drove the C 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 +19.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Calling All Investors! Check out this 1920’s bungalow style home with detached garage and extra deep lot. House has functional floor plan with a good sized living and dining rooms. Kitchen is located to the rear of the home with access to the back yard, a great place for a deck or patio. The two bedrooms are nearly same size with the bathroom between them. Laundry is found in the partial basement. Modern natural gas water heater, high efficiency furnace and breaker box are all located in the basement. The deep lot runs from street to the alley, 185’ in length. This home needs a lot of renovations, but could make a great investment property or permanent home. Call now and make this investment yours.

Key facts

• New lighting
• Complete remodel
• New bathroom

Tags

• COMPLETE REMODEL
• BUTCHER BLOCK COUNTER TOPS
• NEW BATHROOM
• NEW PAINT
• NEW LIGHTING
• NEW WINDOWS

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residential; 1 story
• Construction: Aluminum siding and frame construction
• Exterior features: Metal roof

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and other living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Electric water heater; Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $83k (7.5% below list).
• Recommended offer: $83k (7.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#432 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, schools D-, amenities F.
• Randolph Eastern School Corporation (town): math 29% / reading 31% proficiency, ranked #246 of 301 in IN (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 19 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Randolph County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y ago; this cycle's ask has dropped $7k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $90k implies a 566% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,151 (7.5% below list)

Questions for the listing agent

1. Built in 1921 — 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 D-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. 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: 0.92% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $17,952
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 Sycamore St	0.29mi	2/1.0	825 (+10%)	2mo	$20,000	$24	67

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.8%
• Equity multiple: 3.20×
• Total profit: $55,411
• Equity at exit: $80,989

10-year hold

• IRR: 24.2%
• Equity multiple: 7.28×
• Total profit: $158,027
• Equity at exit: $174,656

Cash invested: $25,172 (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 47390

• Home prices YoY: 9.1%
• Active inventory: 35
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $832 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$46 /mo · $556/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $102

Break-even live

Break-even rent $703

Max offer price $89,900

Occupancy floor 83%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 N Walnut St Union City, IN	1.0–2.0	1.0	750	$841	$1.12	43d	1	0.43mi
125 W Chestnut St Union City, IN	1.0	1.0	400	$800	$2.00	43d	1	0.77mi

Listing history 29 events

1. 2026-06-18
   days on market $89,900 Active 27 DOM
2. 2026-06-17
   days on market $89,900 Active 26 DOM
3. 2026-06-16
   days on market $89,900 Active 25 DOM
4. 2026-06-15
   days on market $89,900 Active 24 DOM
5. 2026-06-13
   days on market $89,900 Active 22 DOM
6. 2026-06-12
   days on market $89,900 Active 21 DOM
7. 2026-06-09
   days on market $89,900 Active 18 DOM
8. 2026-06-09
   price $89,900 Active 17 DOM
9. 2026-06-08
   days on market $96,500 Active 17 DOM
10. 2026-06-07
    days on market $96,500 Active 16 DOM
11. 2026-06-05
    days on market $96,500 Active 14 DOM
12. 2026-06-04
    days on market $96,500 Active 12 DOM
13. 2026-06-02
    days on market $96,500 Active 11 DOM
14. 2026-06-01
    days on market $96,500 Active 10 DOM
15. 2026-05-31
    days on market $96,500 Active 9 DOM
16. 2026-05-31
    days on market $96,500 Active 8 DOM
17. 2026-05-22
    listed $96,500 Active
18. 2023-01-12
    soldstatus $13,500 Sold 719-char remark

    Show marketing remark (123 chars)

    St Rt 32 (Chestnut St) in Union City. Turn North on Walnut St, then west on Pearl St. Home will be on North side of street.

19. 2023-01-12
    soldstatus $13,500 Closed 719-char remark

    Show marketing remark (123 chars)

    St Rt 32 (Chestnut St) in Union City. Turn North on Walnut St, then west on Pearl St. Home will be on North side of street.

20. 2023-01-12
    soldstatus $13,500 Closed 123-char remark

    Show marketing remark (123 chars)

    St Rt 32 (Chestnut St) in Union City. Turn North on Walnut St, then west on Pearl St. Home will be on North side of street.

21. 2023-01-12
    soldstatus $13,500

    Show marketing remark (123 chars)

    St Rt 32 (Chestnut St) in Union City. Turn North on Walnut St, then west on Pearl St. Home will be on North side of street.

22. 2022-12-22
    historical Contingency - Finance and Inspections 123-char remark

    Show marketing remark (719 chars)

    Calling All Investors! Check out this 1920’s bungalow style home with detached garage and extra deep lot. House has functional floor plan with a good sized living and dining rooms. Kitchen is located to the rear of the home with access to the back yard, a great place for a deck or patio. The two bedrooms are nearly same size with the bathroom between them. Laundry is found in the partial basement. Modern natural gas water heater, high efficiency furnace and breaker box are all located in the basement. The deep lot runs from street to the alley, 185’ in length. This home needs a lot of renovations, but could make a great investment property or permanent home. Call now and make this investment yours.

23. 2022-12-22
    historical Active/Pending 719-char remark

    Show marketing remark (719 chars)

    Calling All Investors! Check out this 1920’s bungalow style home with detached garage and extra deep lot. House has functional floor plan with a good sized living and dining rooms. Kitchen is located to the rear of the home with access to the back yard, a great place for a deck or patio. The two bedrooms are nearly same size with the bathroom between them. Laundry is found in the partial basement. Modern natural gas water heater, high efficiency furnace and breaker box are all located in the basement. The deep lot runs from street to the alley, 185’ in length. This home needs a lot of renovations, but could make a great investment property or permanent home. Call now and make this investment yours.

24. 2022-12-14
    listed $17,500
25. 2022-12-09
    price $17,500 719-char remark

    Show marketing remark (123 chars)

    St Rt 32 (Chestnut St) in Union City. Turn North on Walnut St, then west on Pearl St. Home will be on North side of street.

26. 2022-12-09
    listed $20,000 Active 719-char remark

    Show marketing remark (123 chars)

    St Rt 32 (Chestnut St) in Union City. Turn North on Walnut St, then west on Pearl St. Home will be on North side of street.

27. 2022-12-09
    listed $17,500 Active 123-char remark

    Show marketing remark (123 chars)

    St Rt 32 (Chestnut St) in Union City. Turn North on Walnut St, then west on Pearl St. Home will be on North side of street.

28. 2016-11-04
    historical
29. 2011-12-06
    listed $38,000

ⓘ 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: $556 · $46/mo
• Projected year-2 tax: $660 · $55/mo
• Expected delta: +$104/yr (+$9/mo · 18.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,978
• − Mortgage interest: −$5,036
• − Property taxes: −$556
• − Insurance: −$450
• − Repairs & maintenance: −$798
• − Management: −$798
• − Depreciation: −$2,615
• Taxable loss: −$274
• Est. tax savings @ 24.0%: +$66
• After-tax cash flow: $1,286/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: Randolph Eastern School Corporation
• NCES district ID: 1803180
• Math proficiency: 29% ▼ -15.00%
• Reading proficiency: 31% ▼ -15.00%
• Median HH income: $36,652
• Composite: 24.92/100
• National rank: #7570
• State rank: #246 of 301 in IN

Livability — Union City

• Score: 63/100
• State rank: #432
• US rank: #15530

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Union City, IN
• Population (ZIP): 5,084

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 22,998 people
• By 2030: 21,815 · -5.1%
• By 2040: 19,360 · -15.8%
• By 2050: 17,010 · -26.0%
• By 2075: 12,491 · -45.7%
• By 2100: 8,986 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 15% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 3% Portuguese 2% Italian 1%
• Foreign-born: 6% · Canada, South Korea, Guatemala
• Languages at home: 88% English-only · Spanish 10% Korean 1% Other Indo-European 1%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+53.7) · D 22.3% · R 75.9% · Other 1.8%
• 2008→2024 swing: -44.9pp toward R · 2008: -8.8pp · 2024: -53.7pp
• All cycles: 2024: R+53.7 2020: R+52.4 2016: R+48.5 2012: R+24.1 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.82%
• Current HPI: 273.6736
• 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

+153.9% since first listed

13 events — show timeline

• 2026-05-22 Listed $96,500 RRELMS
• 2023-01-12 Sold (MLS) $13,500 RRELMS
• 2023-01-12 Sold (MLS) $13,500 WRIST
• 2023-01-12 Sold (MLS) $13,500 Dayton MLS
• 2023-01-12 Sold (MLS) $13,500 Dayton MLS
• 2022-12-22 Contingent — WRIST
• 2022-12-22 Contingent — Dayton MLS
• 2022-12-14 Listed $17,500 RRELMS
• 2022-12-09 Price Changed $17,500 Dayton MLS
• 2022-12-09 Listed $17,500 WRIST
• 2022-12-09 Listed $20,000 Dayton MLS
• 2016-11-04 Listing Removed — WRIST
• 2011-12-06 Listed $38,000 WRIST

Property tax history

+4.0%/yr

Latest (2024): $556 · +0.0% YoY. Source: county tax records.