609 Myrtle Place Pl · Batesville, IN 47006

$225,000

3 bd · 1.0 ba · 1,560 sqft · SingleFamily public records · 5 Days on market

Built 1917 5,227 sqft lot Est $207k · 8% over

---

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 +20.0/30.0
• DSCR +6.4/10.0
• Schools +4.7/10.0
• 1% rule +4.1/10.0
• Livability +4.1/5.0
• ARV discount +3.7/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom Craftsman bungalow offering classic character and practical living space. Beautiful hardwood floors and original built-ins add warmth and timeless appeal throughout the home. The main level includes a convenient first-floor bedroom, while the full unfinished basement provides abundant storage and potential for future use. Enjoy outdoor living from the spacious covered front porch or the rear deck overlooking the fenced backyard. Additional exterior features include a detached one-car garage with attached carport and a storage shed for tools and equipment. Conveniently located near a public park, this property offers easy access to outdoor recreation while maintainin

Key facts

• Covered front porch
• Original built-ins
• First-floor bedroom

Tags

• HARDWOOD FLOORS
• ORIGINAL BUILT-INS
• FIRST-FLOOR BEDROOM
• UNFINISHED BASEMENT
• COVERED FRONT PORCH
• REAR DECK

Property features AI

Exterior

• Parking: 1-car garage; 1-car carport; Gravel and on-street parking available
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single family residence; One and one half levels; 1 story reported
• Construction: Vinyl siding
• Exterior features: Shingle roof; Shed(s) on the property; Publicly maintained road

Interior

• Kitchen: Range, Oven, Refrigerator
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Range, Oven, Refrigerator, Gas water heater; Full unfinished basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (8.7% below list).
• Recommended offer: $205k (8.7% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 2.2% in Batesville — 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 82/100 on livability (#13 in IN, #1,187 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Batesville Community School Corporation (rural): math 51% / reading 56% proficiency, ranked #33 of 301 in IN (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Batesville Primary School (547 students, 26% FRL); Batesville Middle School (math 42% / reading 56%, grade C-, #53 of 330 statewide, top 16%, 487 students, 30% FRL); Batesville High School (math 57% / reading 72%, grade B-, #34 of 369 statewide, top 10%, 715 students, 23% FRL).
• Market conditions: 83 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 110 units permitted in Ripley 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 $7k of value loss. Plan a longer hold.
• Ripley County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $205,319 (8.7% below list)

Questions for the listing agent

1. Built in 1917 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.91% ✗
• Cap rate: 7.77%
• Cash-on-cash: 5.29%
• DSCR: 1.24
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $207,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 Liberty St	0.04mi	3/1.0	1,589 (+2%)	2mo	$237,000	$149	94
312 S Eastern Ave	0.12mi	3/2.0	1,750 (+12%)	4mo	$222,000	$127	66
517 Western Ave	0.10mi	2/1.0 (-1)	1,712 (+10%)	11mo	$175,000	$102	65
585 Cedar Ln	0.70mi	3/2.0	1,559 (-0%)	1mo	$263,000	$169	62
320 N Park Ave	0.47mi	3/1.0	1,554 (-0%)	19mo	$200,000	$129	61
323 S Walnut St	0.47mi	3/2.0	1,698 (+9%)	2mo	$215,000	$127	58
323 S Park Ave	0.25mi	4/2.0 (+1)	1,672 (+7%)	13mo	$222,000	$133	56
24 Helena St	0.50mi	3/2.0	1,620 (+4%)	13mo	$205,000	$127	55
160 N Township Line Rd	0.58mi	3/2.5	1,545 (-1%)	15mo	$339,000	$219	53
304 N Park Ave	0.43mi	2/1.0 (-1)	1,735 (+11%)	9mo	$220,000	$127	49
829 S Park Ave	0.41mi	3/2.0	1,440 (-8%)	19mo	$245,000	$170	48
559 Cedar Ln	0.67mi	3/3.0	1,635 (+5%)	12mo	$275,000	$168	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: -8.1%
• Equity multiple: 0.70×
• Total profit: $-18,875
• Equity at exit: $33,548

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $5,933
• Equity at exit: $19,454

Cash invested: $63,000 (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 47006

• Active inventory: 83
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,053 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$71 /mo · $849/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $278

Break-even live

Break-even rent $1,702

Max offer price $225,000

Occupancy floor 81%

Sensitivity live

Price	-10% $405	-5% $341	+0% $278	+5% $214	+10% $150
Rent	-10% $115	-5% $197	+0% $278	+5% $359	+10% $440
Rate	-1.0pp $391	-0.5pp $335	base $278	+0.5pp $219	+1.0pp $160

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1139 Tekulve Rd Batesville, IN	1.0–3.0	1.0–1.5	975	$1,300	$1.33	26d	4	0.58mi
815 W Pearl St Batesville, IN	2.0	1.5	1150	$2,995	$2.60	26d	1	0.86mi

Listing history 5 events

1. 2026-06-21
   days on market $225,000 Active 5 DOM
2. 2026-06-21
   days on market $225,000 Active 4 DOM
3. 2026-06-18
   days on market $225,000 Active 2 DOM
4. 2026-06-17
   remarks 699-char remark
5. 2026-06-17
   listed $225,000 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: $849 · $71/mo
• Projected year-2 tax: $1,381 · $115/mo
• Expected delta: +$532/yr (+$44/mo · 62.7%)

ⓘ 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 ≥100°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,638
• − Mortgage interest: −$12,603
• − Property taxes: −$849
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,971
• − Management: −$1,971
• − Depreciation: −$6,545
• Taxable loss: −$426
• Est. tax savings @ 24.0%: +$102
• After-tax cash flow: $3,434/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: Batesville Community School Corporation
• NCES district ID: 1800390
• Math proficiency: 51% ▼ -6.00%
• Reading proficiency: 56% ▼ -6.00%
• Median HH income: $61,570
• Composite: 46.78/100
• National rank: #2384
• State rank: #33 of 301 in IN

Livability — Batesville

• Score: 82/100
• State rank: #13
• US rank: #1187

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Batesville, IN
• City population: 12,607
• Population (ZIP): 12,607

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 3% Two or more races 2%
• Common ancestry: Lithuanian 4% Slovak 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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: ▼ -109.15%
• Current HPI: 202.3679
• 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

1 event — show timeline

• 2026-06-16 Listed $225,000 SEIBR

Property tax history

+4.7%/yr

Latest (2024): $849 · +20.3% YoY. Source: county tax records.