1708 24th St · Bedford, IN 47421

$199,900

4 bd · 3.0 ba · 2,972 sqft · MultiFamily public records · 43 Days on market

Built 1940 Fair condition 5,400 sqft lot $67/sqft · at area comps Est $205k · at est.

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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 +28.4/30.0
• DSCR +10.0/10.0
• ARV discount +8.7/15.0
• 1% rule +8.0/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Excellent Duplex Investment Opportunity with Strong Rental Potential! Take advantage of this fully occupied duplex offering immediate rental income and future upside potential. Both tenants have maintained occupancy for nearly two years on month-to-month leases, providing stability while still allowing flexibility for the next owner. This versatile property features a total of 4 bedrooms and 3 bathrooms, including: One spacious 2 bed / 2 bath unit One well-appointed 2 bed / 1 bath unit Each unit includes: Laundry hookups Kitchen appliances included Comfortable, functional living spaces Investors will appreciate the opportunity to increase rents over time, as current rental rates are below market value. Additional features include a dedicated storage room located on the rear of the building and extensive storage shelving in the basement, offering valuable extra space for tenants or owner use. For added peace of mind, the seller is also including a home warranty, providing extra protection for the buyer after closing. Whether you're adding to your portfolio or entering the multifamily market, this duplex presents a great opportunity with steady income and long-term potential.

Key facts

• 5,400 sq ft lot
• Built 1940
• Listed 42 days

Property features AI

Finance

• Financial info: Two rental units with listed rents of $800/month and $900/month; Owner pays water; Gross income and expenses listed as 0

Exterior

• Utilities: Solid waste service: No
• Home design: Duplex (residential income property)
• Exterior features: Residential use; Asphalt road frontage on a city street; Frontage road access; Lot under 1/4 acre

Interior

• Kitchen: Each unit includes a range/oven, refrigerator, dishwasher, and disposal
• Bedrooms: Two 2-bedroom units
• Heating & cooling: Central air; Central heat pump; Forced heat; Electric hot water
• Interior features: Basement present; Property is a conversion
• Laundry & utility: Each unit has washer and dryer connections; washer and dryer listed in unit features

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $200k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive. Per door: $322/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 4.2% in Bedford — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#23 in IN, #1,958 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, commute F.
• North Lawrence Community Schools (rural): math 35% / reading 40% proficiency, ranked #170 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln Elementary School (math 31% / reading 35%, grade F, #639 of 994 statewide, top 65%, 322 students, 64% FRL); Bedford-North Lawrence High School (math 38% / reading 63%, grade D+, #117 of 369 statewide, top 32%, 1,303 students, 46% FRL) — zoned schools average 55% FRL vs 40% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 158 active listings in the ZIP; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• At $2,594/mo this rent would consume 46% of the median local household income ($68k/yr) (locally 507% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $199.70M (100%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.30% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.82%
• DSCR: 1.61
• GRM: 6.4

CMA / ARV

• ARV (median comp): $205,475
• List price: $199,900
• Delta: -2.71%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1721 27th St	0.23mi	5/5.0 (+1)	2,800 (-6%)	20mo	$300,000	$107	50
1714 M St	0.59mi	5/4.0 (+1)	3,328 (+12%)	1mo	$255,000	$77	42

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: 4.0%
• Equity multiple: 1.16×
• Total profit: $8,722
• Equity at exit: $29,806

10-year hold

• IRR: 13.6%
• Equity multiple: 2.08×
• Total profit: $60,684
• Equity at exit: $17,284

Cash invested: $55,972 (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 47421

• Home prices YoY: -25.2%
• Active inventory: 158
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $2,594 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$273 /mo · $3,276/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $645

Break-even live

Break-even rent $1,778

Max offer price $199,900

Occupancy floor 70%

Sensitivity live

Price	-10% $758	-5% $701	+0% $645	+5% $588	+10% $532
Rent	-10% $440	-5% $542	+0% $645	+5% $747	+10% $850
Rate	-1.0pp $745	-0.5pp $696	base $645	+0.5pp $593	+1.0pp $540

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,594
Total (2 units)			$2,594

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $199,900 Active 43 DOM
2. 2026-06-18
   days on market $199,900 Active 42 DOM
3. 2026-06-17
   days on market $199,900 Active 41 DOM
4. 2026-06-16
   days on market $199,900 Active 40 DOM
5. 2026-06-15
   days on market $199,900 Active 39 DOM
6. 2026-06-14
   days on market $199,900 Active 37 DOM
7. 2026-06-13
   days on market $199,900 Active 36 DOM
8. 2026-06-10
   days on market $199,900 Active 34 DOM
9. 2026-06-09
   days on market $199,900 Active 33 DOM
10. 2026-06-08
    days on market $199,900 Active 32 DOM
11. 2026-06-07
    days on market $199,900 Active 31 DOM
12. 2026-06-05
    days on market $199,900 Active 28 DOM
13. 2026-06-03
    days on market $199,900 Active 27 DOM
14. 2026-06-02
    days on market $199,900 Active 26 DOM
15. 2026-06-01
    days on market $199,900 Active 25 DOM
16. 2026-05-31
    days on market $199,900 Active 24 DOM
17. 2026-05-30
    days on market $199,900 Active 23 DOM
18. 2026-05-08
    price $199,900 1192-char remark

    Show marketing remark (1192 chars)

    Excellent Duplex Investment Opportunity with Strong Rental Potential! Take advantage of this fully occupied duplex offering immediate rental income and future upside potential. Both tenants have maintained occupancy for nearly two years on month-to-month leases, providing stability while still allowing flexibility for the next owner. This versatile property features a total of 4 bedrooms and 3 bathrooms, including: One spacious 2 bed / 2 bath unit One well-appointed 2 bed / 1 bath unit Each unit includes: Laundry hookups Kitchen appliances included Comfortable, functional living spaces Investors will appreciate the opportunity to increase rents over time, as current rental rates are below market value. Additional features include a dedicated storage room located on the rear of the building and extensive storage shelving in the basement, offering valuable extra space for tenants or owner use. For added peace of mind, the seller is also including a home warranty, providing extra protection for the buyer after closing. Whether you're adding to your portfolio or entering the multifamily market, this duplex presents a great opportunity with steady income and long-term potential.

19. 2026-05-08
    listed $199,900,000 Active 1192-char remark

    Show marketing remark (1192 chars)

    Excellent Duplex Investment Opportunity with Strong Rental Potential! Take advantage of this fully occupied duplex offering immediate rental income and future upside potential. Both tenants have maintained occupancy for nearly two years on month-to-month leases, providing stability while still allowing flexibility for the next owner. This versatile property features a total of 4 bedrooms and 3 bathrooms, including: One spacious 2 bed / 2 bath unit One well-appointed 2 bed / 1 bath unit Each unit includes: Laundry hookups Kitchen appliances included Comfortable, functional living spaces Investors will appreciate the opportunity to increase rents over time, as current rental rates are below market value. Additional features include a dedicated storage room located on the rear of the building and extensive storage shelving in the basement, offering valuable extra space for tenants or owner use. For added peace of mind, the seller is also including a home warranty, providing extra protection for the buyer after closing. Whether you're adding to your portfolio or entering the multifamily market, this duplex presents a great opportunity with steady income and long-term potential.

20. 2026-05-05
    listed $199,900 Active 1214-char remark

ⓘ 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: $3,276 · $273/mo
• Projected year-2 tax: $3,276 · $273/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,128
• − Mortgage interest: −$11,198
• − Property taxes: −$3,276
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,490
• − Management: −$2,490
• − Depreciation: −$5,815
• Taxable income: $4,860
• Est. tax owed @ 24.0%: −$1,166
• After-tax cash flow: $6,570/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations, including painting, landscaping, and decluttering, to improve its condition and value.

Repairs flagged

• Major Paint — Paint appears worn in some areas
• Major Landscaping — Overgrown yard and lack of landscaping
• Major Clutter — Clutter in kitchen and bathrooms

Value-add opportunities

• Both Paint exterior and interior — Fresh paint can improve curb appeal and interior aesthetics
• Both Landscaping and yard maintenance — A well-maintained yard can increase both resale and rental value
• Both Deep cleaning and decluttering — A clean and organized home is more appealing to potential buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears worn in some areas	Major	$15,000–50,000
Landscaping · Overgrown yard and lack of landscaping	Major	$15,000–50,000
Clutter · Clutter in kitchen and bathrooms	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both Landscaping and yard maintenance — A well-maintained yard can increase both resale and rental value ↑
• Both Deep cleaning and decluttering — A clean and organized home is more appealing to potential buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: North Lawrence Community Schools
• NCES district ID: 1807860
• Math proficiency: 35% ▼ -2.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $44,566
• Composite: 31.88/100
• National rank: #5864
• State rank: #170 of 301 in IN

Livability — Bedford

• Score: 80/100
• State rank: #23
• US rank: #1958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bedford, IN
• County: Lawrence County · 27,599 people
• City population: 27,599
• Metro: Bedford, IN
• Population (ZIP): 27,599
• Household income: $68,108
• Rent vs Own: 20.0% rent · 80.0% own
• Severe rent burden: 507.0

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 44,347 people
• By 2030: 43,331 · -2.3%
• By 2040: 40,887 · -7.8%
• By 2050: 38,297 · -13.6%
• By 2075: 32,479 · -26.8%
• By 2100: 26,051 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Italian 2% Scotch-Irish 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+51.0) · D 23.6% · R 74.6% · Other 1.7%
• 2008→2024 swing: -30.5pp toward R · 2008: -20.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.6 2016: R+51.5 2012: R+32.8 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.32%
• Current HPI: 240.959
• Rent YoY: —
• Metro: Bedford, IN
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-08 Price Changed $199,900 IRMLS
• 2026-05-08 Listed $199,900,000 IRMLS
• 2026-05-05 Listed $199,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2025): $3,276 · +52.4% YoY. Source: county tax records.