226 Cardinal Ln · Osgood, IN 47037

$78,500

4 bd · 1.0 ba · 1,454 sqft · SingleFamily public records · 160 Days on market

Built 1900 0.61 ac lot $54/sqft · 53% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investment Opportunity: Unlock the potential of this versatile property located in the quiet, charming heart of Osgood, In. Situated on an expansive 0.61-acre lot at the end of a dead-end road in town , this 3-4 BDRM /1 BA, 1,500 sq. ft. home offers the perfect canvas for your next real estate venture. Whether you are looking to build equity through a fix-and-flip, expand your rental portfolio, or find a primary residence. This home needs TLC. Cash buyers only. Being sold AS-IS.

Key facts

• Expansive lot
• Massive yard
• Dead-end road

Tags

• EXPANSIVE LOT
• MASSIVE YARD
• DEAD-END ROAD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#134 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Jac-Cen-Del Community School Corporation (rural): math 32% / reading 40% proficiency, ranked #185 of 301 in IN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jac-Cen-Del Elementary School (math 36% / reading 36%, grade F, #577 of 994 statewide, top 59%, 390 students, 55% FRL); Jac-Cen-Del Ms/Hs (math 27% / reading 42%, grade F, #270 of 369 statewide, top 77%, 383 students, 49% FRL) — zoned schools average 52% FRL vs 33% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 19 active listings in the ZIP; 110 units permitted in Ripley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($543 loan paydown + $8k appreciation (10.0% local appreciation)).
• Ripley County population projected at -10% 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $20k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.58% ✓
• Cap rate: 12.96%
• Cash-on-cash: 23.82%
• DSCR: 2.06
• GRM: 5.3

CMA / ARV

• ARV (median comp): $166,685
• List price: $78,500
• Delta: -52.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
247 N Maple St	0.25mi	3/2.0 (-1)	1,456 (+0%)	6mo	$226,200	$155	75
403 N Maple St	0.28mi	3/1.0 (-1)	1,515 (+4%)	1mo	$45,000	$30	74
208 N Maple St	0.21mi	3/1.0 (-1)	1,412 (-3%)	16mo	$43,000	$30	67
151 N Elm St	0.06mi	3/3.0 (-1)	1,349 (-7%)	8mo	$182,900	$136	66
405 S Walnut St	0.34mi	3/1.5 (-1)	1,544 (+6%)	3mo	$259,900	$168	65
227 S Maple St	0.30mi	3/2.5 (-1)	1,500 (+3%)	7mo	$207,500	$138	64
113 N Sycamore St	0.31mi	3/2.5 (-1)	1,300 (-11%)	3mo	$197,000	$152	55
409 N Maple St	0.29mi	3/2.0 (-1)	1,280 (-12%)	13mo	$73,000	$57	47
4423 Hillcrest Dr	0.63mi	3/1.5 (-1)	1,299 (-11%)	8mo	$210,000	$162	40

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: 42.2%
• Equity multiple: 4.21×
• Total profit: $70,561
• Equity at exit: $70,719

10-year hold

• IRR: 36.4%
• Equity multiple: 9.46×
• Total profit: $185,975
• Equity at exit: $152,508

Cash invested: $21,980 (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 47037

• Home prices YoY: 5.4%
• Active inventory: 19
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,239 medium
• Mortgage (P&I): −$412
• Tax from tax record: −$98 /mo · $1,182/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $436

Break-even live

Break-even rent $687

Max offer price $78,500

Occupancy floor 60%

Sensitivity live

Price	-10% $481	-5% $459	+0% $436	+5% $414	+10% $392
Rent	-10% $338	-5% $387	+0% $436	+5% $485	+10% $534
Rate	-1.0pp $476	-0.5pp $456	base $436	+0.5pp $416	+1.0pp $395

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: $19,625
• Closing costs: $2,355
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $78,500 Active 160 DOM
2. 2026-06-21
   days on market $78,500 Active 159 DOM
3. 2026-06-18
   days on market $78,500 Active 157 DOM
4. 2026-06-17
   days on market $78,500 Active 156 DOM
5. 2026-06-16
   days on market $78,500 Active 155 DOM
6. 2026-06-15
   days on market $78,500 Active 154 DOM
7. 2026-06-13
   pricedays on market $78,500 Active 152 DOM
8. 2026-06-12
   days on market $79,900 Active 151 DOM
9. 2026-06-09
   days on market $79,900 Active 148 DOM
10. 2026-06-08
    days on market $79,900 Active 147 DOM
11. 2026-06-07
    days on market $79,900 Active 146 DOM
12. 2026-06-05
    days on market $79,900 Active 144 DOM
13. 2026-06-04
    days on market $79,900 Active 142 DOM
14. 2026-06-02
    days on market $79,900 Active 141 DOM
15. 2026-06-01
    days on market $79,900 Active 140 DOM
16. 2026-05-31
    days on market $79,900 Active 139 DOM
17. 2026-05-31
    days on market $79,900 Active 138 DOM
18. 2026-05-17
    price $79,900 484-char remark

    Show marketing remark (484 chars)

    Investment Opportunity: Unlock the potential of this versatile property located in the quiet, charming heart of Osgood, In. Situated on an expansive 0.61-acre lot at the end of a dead-end road in town , this 3-4 BDRM /1 BA, 1,500 sq. ft. home offers the perfect canvas for your next real estate venture. Whether you are looking to build equity through a fix-and-flip, expand your rental portfolio, or find a primary residence. This home needs TLC. Cash buyers only. Being sold AS-IS.

19. 2026-04-02
    price $85,000 484-char remark

    Show marketing remark (484 chars)

    Investment Opportunity: Unlock the potential of this versatile property located in the quiet, charming heart of Osgood, In. Situated on an expansive 0.61-acre lot at the end of a dead-end road in town , this 3-4 BDRM /1 BA, 1,500 sq. ft. home offers the perfect canvas for your next real estate venture. Whether you are looking to build equity through a fix-and-flip, expand your rental portfolio, or find a primary residence. This home needs TLC. Cash buyers only. Being sold AS-IS.

20. 2026-02-18
    price $86,000 484-char remark

    Show marketing remark (484 chars)

    Investment Opportunity: Unlock the potential of this versatile property located in the quiet, charming heart of Osgood, In. Situated on an expansive 0.61-acre lot at the end of a dead-end road in town , this 3-4 BDRM /1 BA, 1,500 sq. ft. home offers the perfect canvas for your next real estate venture. Whether you are looking to build equity through a fix-and-flip, expand your rental portfolio, or find a primary residence. This home needs TLC. Cash buyers only. Being sold AS-IS.

21. 2026-01-12
    listed $99,000 Active 484-char remark

    Show marketing remark (484 chars)

    Investment Opportunity: Unlock the potential of this versatile property located in the quiet, charming heart of Osgood, In. Situated on an expansive 0.61-acre lot at the end of a dead-end road in town , this 3-4 BDRM /1 BA, 1,500 sq. ft. home offers the perfect canvas for your next real estate venture. Whether you are looking to build equity through a fix-and-flip, expand your rental portfolio, or find a primary residence. This home needs TLC. Cash buyers only. Being sold AS-IS.

22. 2013-04-13
    listed $48,500

ⓘ 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: $1,182 · $98/mo
• Projected year-2 tax: $1,182 · $98/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 4/10 Moderate 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $14,874
• − Mortgage interest: −$4,397
• − Property taxes: −$1,182
• − Insurance: −$392
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$2,284
• Taxable income: $4,239
• Est. tax owed @ 24.0%: −$1,017
• After-tax cash flow: $4,218/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: Jac-Cen-Del Community School Corporation
• NCES district ID: 1804800
• Math proficiency: 32% ▼ -14.00%
• Reading proficiency: 40% ▼ -8.00%
• Median HH income: $46,674
• Composite: 30.83/100
• National rank: #6133
• State rank: #185 of 301 in IN

Livability — Osgood

• Score: 71/100
• State rank: #134
• US rank: #6966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Osgood, IN
• Population (ZIP): 4,289

Population outlook (Ripley County) Hauer SSP2

• Today (2025): 28,713 people
• By 2030: 28,400 · -1.1%
• By 2040: 27,288 · -5.0%
• By 2050: 25,691 · -10.5%
• By 2075: 22,222 · -22.6%
• By 2100: 17,965 · -37.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 2% Asian 2% Two or more races 1%
• Common ancestry: Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 2%

Political lean MEDSL · Ripley

• 2024 margin: Solid R (+61.5) · D 18.6% · R 80.1% · Other 1.2%
• 2008→2024 swing: -31.9pp toward R · 2008: -29.6pp · 2024: -61.5pp
• All cycles: 2024: R+61.5 2020: R+59.5 2016: R+57.4 2012: R+38.6 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.68%
• Current HPI: 267.94
• 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

+64.7% since first listed

5 events — show timeline

• 2026-05-17 Price Changed $79,900 SEIBR
• 2026-04-02 Price Changed $85,000 SEIBR
• 2026-02-18 Price Changed $86,000 SEIBR
• 2026-01-12 Listed $99,000 SEIBR
• 2013-04-13 Listed $48,500 SEIBR

Property tax history

+3.6%/yr

Latest (2024): $1,182 · -0.1% YoY. Source: county tax records.