210 S West St · Pendleton, IN 46064

$349,500

3 bd · 3.0 ba · 2,834 sqft · SingleFamily public records · 16 Days on market

Built 1899 0.40 ac lot Est $385k · 9% under

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Why this score? — see what drove the F 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).

• ARV discount +11.7/15.0
• Cash flow +5.5/30.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.5/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful home built in 1899, the "Taylor House" is in a prime downtown Pendleton location, a walk away from Falls Park, shopping and dining. This spacious home has all sorts of character, features several stained glass pieces and original woodwork. This 2010/2011 restoration created a sunroom overlooking the in-ground pool and even added an amazing third floor loft. The Primary bedroom features custom built wardrobe closet, Full Bath, and a 16x16 deck overlooking the beautiful backyard and pool. More recent updates include new kitchen appliances, water softener, boiler/water heater combo, new roof and exterior RhinoShield paint. Whether the balcony, pool side or the awesome front porch, there are so many outside places to relax and enjoy.

Key facts

• Covered front porch
• Large backyard
• Covered rear deck

Tags

• HISTORIC CRAFTSMAN HOME
• WALK FROM DOWNTOWN PENDLETON
• EASY ACCESS TO LOCAL SHOPS
• COVERED FRONT PORCH
• COVERED REAR DECK
• LARGE BACKYARD

Property features AI

Exterior

• Parking: Detached 2-car garage with garage door opener; Common lot parking
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single family residence; Residential property in fixer condition; Two-and-a-half levels; Accessible entrance
• Construction: Aluminum siding; Block foundation
• Exterior features: Covered porch; Deck; Exterior storage; Water feature (fountain); Approximately 0.41-acre lot

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bedrooms: Four bedrooms total; one on the main level and three on the upper level; Primary bedroom includes a walk-in closet
• Bathrooms: Two full bathrooms and one half bathroom; Primary bathroom has a handicap-accessible shower stall
• Heating & cooling: Baseboard and hot water heating; Window AC units
• Interior features: Attic access with pull-down stairs; Cellar (basement)
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-747 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $218k (37.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (45.0% below list).
• Recommended offer: $192k (45.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#86 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• South Madison Community School Corporation (rural): math 44% / reading 52% proficiency, ranked #60 of 301 in IN (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pendleton Elementary School (math 54% / reading 49%, grade C-, #256 of 994 statewide, top 26%, 840 students, 36% FRL); Pendleton Heights Middle School (math 37% / reading 48%, grade D-, #98 of 330 statewide, top 30%, 721 students, 36% FRL); Pendleton Heights High School (math 36% / reading 77%, grade C, #70 of 369 statewide, top 19%, 1,357 students, 31% FRL).
• Market conditions: 237 active listings in the ZIP; 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Madison County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago 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.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $192,291 (45.0% below list)

Questions for the listing agent

1. 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?
2. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.55% ✗
• Cap rate: 3.73%
• Cash-on-cash: -9.16%
• DSCR: 0.59
• GRM: 15.1

CMA / ARV

• ARV (on-the-fly): $385,424
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 W High St	0.03mi	4/2.0 (+1)	2,708 (-4%)	2mo	$245,000	$90	80
400 W State St	0.15mi	4/3.0 (+1)	2,706 (-4%)	8mo	$320,000	$118	74
331 W State St	0.12mi	3/2.0	3,026 (+7%)	12mo	$339,900	$112	69
113 W Water St	0.24mi	3/2.5	2,868 (+1%)	20mo	$415,000	$145	68
402 S Main	0.21mi	2/2.5 (-1)	2,684 (-5%)	20mo	$491,852	$183	58
229 W Taylor St	0.10mi	3/1.5	2,420 (-15%)	13mo	$314,500	$130	54
498 Redwood Dr	0.73mi	3/2.0	2,940 (+4%)	21mo	$340,000	$116	39
484 Mallard Dr	0.69mi	4/2.5 (+1)	2,554 (-10%)	10mo	$375,000	$147	36
408 Pekin Way	0.60mi	4/2.5 (+1)	2,606 (-8%)	19mo	$429,900	$165	36
737 S Broadway St	0.59mi	4/3.0 (+1)	2,472 (-13%)	13mo	$335,000	$136	36

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: -32.6%
• Equity multiple: -0.07×
• Total profit: $-104,279
• Equity at exit: $52,112

10-year hold

• IRR: -38.7%
• Equity multiple: -0.56×
• Total profit: $-152,329
• Equity at exit: $30,218

Cash invested: $97,860 (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 46064

• Active inventory: 237
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $1,923 medium
• Mortgage (P&I): −$1,833
• Tax from tax record: −$288 /mo · $3,453/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $-747

Break-even live

Break-even rent $2,869

Max offer price $217,523

Occupancy floor —

Sensitivity live

Price	-10% $-549	-5% $-648	+0% $-747	+5% $-846	+10% $-945
Rent	-10% $-899	-5% $-823	+0% $-747	+5% $-671	+10% $-595
Rate	-1.0pp $-571	-0.5pp $-658	base $-747	+0.5pp $-838	+1.0pp $-930

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: $87,375
• Closing costs: $10,485
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $349,500 Active 16 DOM
2. 2026-06-18
   days on market $349,500 Active 13 DOM
3. 2026-06-17
   days on market $349,500 Active 12 DOM
4. 2026-06-16
   days on market $349,500 Active 11 DOM
5. 2026-06-15
   days on market $349,500 Active 10 DOM
6. 2026-06-13
   days on market $349,500 Active 8 DOM
7. 2026-06-13
   days on market $349,500 Active 7 DOM
8. 2026-06-09
   days on market $349,500 Active 4 DOM
9. 2026-06-08
   days on market $349,500 Active 3 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $349,500 Active 2 DOM

ⓘ 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: $3,453 · $288/mo
• Projected year-2 tax: $3,453 · $288/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 3/10 Moderate 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,075
• − Mortgage interest: −$19,577
• − Property taxes: −$3,453
• − Insurance: −$1,748
• − Repairs & maintenance: −$1,846
• − Management: −$1,846
• − Depreciation: −$10,167
• Taxable loss: −$15,562
• Est. tax savings @ 24.0%: +$3,735
• After-tax cash flow: $-5,230/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: South Madison Community School Corporation
• NCES district ID: 1810440
• Math proficiency: 44% ▼ -13.00%
• Reading proficiency: 52% ▼ -6.00%
• Median HH income: $63,565
• Composite: 42.4/100
• National rank: #3231
• State rank: #60 of 301 in IN

Livability — Pendleton

• Score: 73/100
• State rank: #86
• US rank: #5014

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pendleton, IN
• City population: 17,730
• Population (ZIP): 17,730

Population outlook (Madison County) Hauer SSP2

• Today (2025): 125,800 people
• By 2030: 122,640 · -2.5%
• By 2040: 115,420 · -8.3%
• By 2050: 108,148 · -14.0%
• By 2075: 91,838 · -27.0%
• By 2100: 75,670 · -39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 6% Black 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 3% Italian 2% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Madison

• 2024 margin: Strong R (+26.9) · D 35.6% · R 62.5% · Other 1.9%
• 2008→2024 swing: -33.5pp toward R · 2008: 6.5pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+22.6 2016: R+25.7 2012: R+4.5 2008: D+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -160.39%
• Current HPI: 227.4921
• 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

+118.6% since first listed

10 events — show timeline

• 2026-06-05 Listed $349,500 MIBOR as Distributed by MLS Grid
• 2023-07-20 Sold (MLS) $504,500 MIBOR as Distributed by MLS Grid
• 2023-05-20 Pending — MIBOR as Distributed by MLS Grid
• 2023-05-17 Listed $490,000 MIBOR as Distributed by MLS Grid
• 2019-05-07 Sold (MLS) $390,000 MIBOR as Distributed by MLS Grid
• 2019-03-27 Pending — MIBOR as Distributed by MLS Grid
• 2018-11-21 Listed $420,000 MIBOR as Distributed by MLS Grid
• 2010-03-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-03-19 Sold (MLS) $151,300 MIBOR as Distributed by MLS Grid
• 2010-02-10 Listed $159,900 MIBOR as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2024): $3,453 · +5.9% YoY. Source: county tax records.