1233 11th St

Tell City, IN 47586

$78,800B-

2 bd · 1.0 ba · 1,230 sqft · Built 1942 · SingleFamily · Active · 292 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $873/mo
• Mortgage (P&I): −$413
• Tax + insurance: −$79
• HOA: −$0
• Vac / Maint / Mgmt: −$183
• Net cashflow: $198/mo
• Annual: $2,374/yr
• Cap rate: 9.31%
• Cash-on-cash: 10.76%
• DSCR: 1.48
• 1% rule: 1.11%
• Cash to close: $22,064

Investor read

• This is a 2-bed/1.0-bath single-family listed at $79k.
• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($873 rent vs $79k).
• It's been on market 292 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $545 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#60 in IN, #4,053 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D, amenities F, commute F.
• Tell City-Troy Twp School Corporation (rural): math 37% / reading 51% proficiency, ranked #108 of 301 in IN (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: William Tell Elementary School (math 34% / reading 43%, grade F, #535 of 994 statewide, top 54%, 757 students, 52% FRL); Tell City Jr-Sr High School (math 39% / reading 61%, grade D+, #120 of 369 statewide, top 33%, 643 students, 47% FRL).
• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 31 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 31 units permitted in Perry County in 2024 (0 in 5+ unit buildings).
• Perry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $51k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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

• It's been on market 292 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.