600 W Beech St · Sullivan, IN 47882

$60,000

3 bd · 2.0 ba · 1,404 sqft · SingleFamily public records · 16 Days on market

Built 1950 0.37 ac lot ↓ 15% since listing

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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
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ranch style home with a covered front porch and side carport / patio this might be what you're searching. This 3-bed and 2-bath home offers a large living room and eat-in-kitchen are perfect for those large gatherings with family or friends. Home is nestled on large lot with nurture trees and 2 storages shed.

Key facts

• Covered front porch
• Eat-in-kitchen
• Large lot

Tags

• COVERED FRONT PORCH
• SIDE CARPORT
• LARGE LIVING ROOM
• EAT-IN-KITCHEN
• LARGE LOT
• STORAGE SHED

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One story
• Construction: Brick and vinyl siding exterior; Crawl space foundation
• Exterior features: Covered porch or patio

Interior

• Kitchen: Kitchen on main level (19 x 21); No appliances included
• Bedrooms: Three bedrooms on the main level; Bedroom 2 (10 x 12); Bedroom 3 (10 x 12)
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic with pull-down stairs; Living room (17 x 22)
• Laundry & utility: Main-level laundry room (6 x 8)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 4.5% in Sullivan — 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 70/100 on livability (#167 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Southwest School Corporation (rural): math 40% / reading 42% proficiency, ranked #137 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sullivan Elementary School (math 43% / reading 40%, grade F, #478 of 994 statewide, top 49%, 663 students, 50% FRL); Sullivan High School (math 32% / reading 52%, grade F, #197 of 369 statewide, top 57%, 499 students, 46% FRL).
• Market conditions: 79 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Sullivan County population projected at -12% 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 $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.66% ✓
• Cap rate: 12.78%
• Cash-on-cash: 23.16%
• DSCR: 2.03
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $171,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 N West St	0.14mi	2/2.0 (-1)	1,413 (+1%)	2mo	$89,900	$64	86
524 W Sylvandell St	0.32mi	3/2.0	1,485 (+6%)	1mo	$219,900	$148	75
105 N French St	0.12mi	2/2.0 (-1)	1,520 (+8%)	4mo	$67,500	$44	72
326 W Graysville St	0.28mi	3/2.0	1,500 (+7%)	5mo	$183,250	$122	72
419 S Bell St St	0.53mi	3/2.0	1,363 (-3%)	3mo	$230,000	$169	68
306 N State St St	0.62mi	2/1.0 (-1)	1,421 (+1%)	3mo	$154,900	$109	58
403 W Sylvandell St St	0.40mi	2/1.0 (-1)	1,522 (+8%)	6mo	$148,000	$97	53
319 E Wall St	0.71mi	4/2.5 (+1)	1,505 (+7%)	1mo	$284,490	$189	47
321 E Wall St	0.71mi	3/2.0	1,232 (-12%)	1mo	$230,400	$187	46
339 N Broad St St	0.70mi	2/2.0 (-1)	1,578 (+12%)	0mo	$169,900	$108	41
219 S Court St	0.60mi	2/1.0 (-1)	1,224 (-13%)	1mo	$139,000	$114	41
221 S State St	0.72mi	2/2.0 (-1)	1,197 (-15%)	5mo	$157,500	$132	33

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: 16.2%
• Equity multiple: 1.65×
• Total profit: $10,972
• Equity at exit: $8,946

10-year hold

• IRR: 24.8%
• Equity multiple: 3.16×
• Total profit: $36,324
• Equity at exit: $5,188

Cash invested: $16,800 (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 47882

• Home prices YoY: -11.1%
• Active inventory: 79
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $995 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$122 /mo · $1,466/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $324

Break-even live

Break-even rent $585

Max offer price $60,000

Occupancy floor 62%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
564 S Court St Sullivan, IN	2.0	1.0	978	$995	$1.02	15d	1	0.90mi
564 S Court St Sullivan, IN	2.0	1.0	978	$995	$1.02	12d	1	0.90mi

Listing history 12 events

1. 2026-06-17
   status $60,000 Pending 16 DOM
2. 2026-06-17
   days on market $60,000 Active 16 DOM
3. 2026-06-16
   days on market $60,000 Active 15 DOM
4. 2026-06-15
   days on market $60,000 Active 14 DOM
5. 2026-06-13
   days on market $60,000 Active 12 DOM
6. 2026-06-12
   days on market $60,000 Active 11 DOM
7. 2026-06-09
   days on market $60,000 Active 8 DOM
8. 2026-06-08
   days on market $60,000 Active 7 DOM
9. 2026-06-07
   days on market $60,000 Active 6 DOM
10. 2026-06-07
    days on market $60,000 Active 5 DOM
11. 2026-06-04
    days on market $60,000 Active 2 DOM
12. 2026-06-01
    listed $60,000 Active 1 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: $1,466 · $122/mo
• Projected year-2 tax: $1,466 · $122/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,940
• − Mortgage interest: −$3,361
• − Property taxes: −$1,466
• − Insurance: −$300
• − Repairs & maintenance: −$955
• − Management: −$955
• − Depreciation: −$1,745
• Taxable income: $3,157
• Est. tax owed @ 24.0%: −$758
• After-tax cash flow: $3,133/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: Southwest School Corporation
• NCES district ID: 1810860
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 42% ▼ -9.00%
• Median HH income: $43,624
• Composite: 34.71/100
• National rank: #5136
• State rank: #137 of 301 in IN

Livability — Sullivan

• Score: 70/100
• State rank: #167
• US rank: #7960

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sullivan, IN
• City population: 8,494
• Population (ZIP): 8,494

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 20,313 people
• By 2030: 19,908 · -2.0%
• By 2040: 19,009 · -6.4%
• By 2050: 17,972 · -11.5%
• By 2075: 14,929 · -26.5%
• By 2100: 11,391 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3%
• Common ancestry: Italian 2% Slovak 2% Iranian 2%
• Foreign-born: 1% · China
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Sullivan

• 2024 margin: Solid R (+52.7) · D 22.8% · R 75.5% · Other 1.7%
• 2008→2024 swing: -52.0pp toward R · 2008: -0.7pp · 2024: -52.7pp
• All cycles: 2024: R+52.7 2020: R+50.5 2016: R+47.0 2012: R+20.6 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.79%
• Current HPI: 190.5334
• 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

-15.0% since first listed

7 events — show timeline

• 2026-05-29 Listed $60,000 MIBOR as Distributed by MLS Grid
• 2026-05-29 Listed $60,000 THAAR
• 2022-05-13 Delisted — THAAR
• 2022-03-25 Listed $101,000 THAAR
• 2019-08-20 Listed $85,000 IRMLS
• 2019-06-03 Listed $85,000 THAAR
• 2013-06-07 Sold (Public Records) $70,560 Public Records

Property tax history

+12.9%/yr

Latest (2024): $1,466 · +1.1% YoY. Source: county tax records.