810 13th St · Bedford, IN 47421

$19,900

2 bd · 1.0 ba · 1,230 sqft · SingleFamily public records · 12 Days on market

Built 1900 3,049 sqft lot $16/sqft · 86% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the potential of this 2-bedroom, 1-bath bungalow! Whether you choose to renovate or tear down, this property offers a unique chance to create your dream home from scratch. With 1230 square feet, it's a fantastic investment opportunity just waiting for your vision. Don't miss out on this chance to make it your own! SOLD AS IS!

Key facts

• 3,049 sq ft lot
• Built 1900
• Listed 12 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; 1 story
• Construction: Wood siding construction
• Exterior features: Level lot

Interior

• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: No heating system specified; No cooling system specified
• Interior features: Crawl space basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $759 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Cap rate 56.1% 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: Parkview Elementary School (math 44% / reading 39%, grade F, #478 of 994 statewide, top 49%, 513 students, 63% FRL); Bedford Middle School (math 23% / reading 36%, grade F, #212 of 330 statewide, top 67%, 562 students, 54% FRL); Bedford-North Lawrence High School (math 38% / reading 63%, grade D+, #117 of 369 statewide, top 32%, 1,303 students, 46% FRL).
• Market conditions: 159 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $597 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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.
• Current owner paid $15k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $19,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 6.22% ✓
• Cap rate: 56.08%
• Cash-on-cash: 177.80%
• DSCR: 8.91
• GRM: 1.3

CMA / ARV

• ARV (median comp): $142,176
• List price: $19,900
• Delta: -86.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
810 13th St	0.00mi	2/1.0	1,230 (0%)	1mo	$15,000	$12	99
1922 J St	0.53mi	3/1.0 (+1)	1,200 (-2%)	2mo	$47,500	$40	64
610 18th St	0.44mi	3/1.5 (+1)	1,312 (+7%)	2mo	$40,000	$30	60
720 20th St	0.55mi	2/1.0	1,148 (-7%)	5mo	$118,000	$103	59
1511 11th Street St	0.57mi	3/2.0 (+1)	1,190 (-3%)	1mo	$192,000	$161	58
1414 R St	0.70mi	3/1.5 (+1)	1,248 (+2%)	0mo	$205,900	$165	57
1022 Lincoln Ave	0.35mi	2/2.0	1,400 (+14%)	2mo	$105,000	$75	55
702 O St	0.74mi	3/2.5 (+1)	1,220 (-1%)	2mo	$187,000	$153	52
1219 9th St	0.46mi	3/2.0 (+1)	1,114 (-9%)	2mo	$185,000	$166	52
1509 Q St	0.68mi	3/2.0 (+1)	1,192 (-3%)	5mo	$143,000	$120	50
1117 P St	0.62mi	3/1.0 (+1)	1,064 (-14%)	3mo	$165,000	$155	41
423 J St	0.72mi	3/2.5 (+1)	1,360 (+11%)	4mo	$232,500	$171	35

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: —
• Equity multiple: 9.11×
• Total profit: $45,195
• Equity at exit: $2,967

10-year hold

• IRR: —
• Equity multiple: 19.29×
• Total profit: $101,894
• Equity at exit: $1,721

Cash invested: $5,572 (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: 159
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,238 medium
• Mortgage (P&I): −$104
• Tax from tax record: −$40 /mo · $480/yr
• Insurance: −$8
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $759

Break-even live

Break-even rent $277

Max offer price $19,900

Occupancy floor 34%

Sensitivity live

Price	-10% $770	-5% $765	+0% $759	+5% $754	+10% $748
Rent	-10% $661	-5% $710	+0% $759	+5% $808	+10% $857
Rate	-1.0pp $769	-0.5pp $764	base $759	+0.5pp $754	+1.0pp $749

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2115 G St Bedford, IN	3.0	2.0	1500	$1,750	$1.17	22d	1	0.64mi

Listing history 3 events

1. 2026-05-18
   status Pending 336-char remark
2. 2026-05-06
   listed $19,900 Active 336-char remark
3. 2022-04-13
   listed $10,000 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: $480 · $40/mo
• Projected year-2 tax: $480 · $40/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 8/10 Severe FEMA zone X (unshaded) · 78% 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: $14,860
• − Mortgage interest: −$1,115
• − Property taxes: −$480
• − Insurance: −$897
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$579
• Taxable income: $9,411
• Est. tax owed @ 24.0%: −$2,259
• After-tax cash flow: $6,851/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 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

+50.0% since first listed

4 events — show timeline

• 2026-05-27 Sold (MLS) $15,000 IRMLS
• 2026-05-18 Pending — IRMLS
• 2026-05-06 Listed $19,900 IRMLS
• 2022-04-13 Listed $10,000 IRMLS

Property tax history

-1.7%/yr

Latest (2025): $480 · +6.7% YoY. Source: county tax records.