203 N Main St · Batesville, IN 47006

$194,900

3 bd · 2.0 ba · 2,084 sqft · SingleFamily public records · 125 Days on market

Built 1905 5,401 sqft lot $94/sqft · 6% below area Est $229k · 15% under

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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).

• ARV discount +14.1/15.0
• Cash flow +11.9/30.0
• Schools +4.7/10.0
• Livability +4.1/5.0
• DSCR +3.5/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

Key facts

• Downtown amenities
• Newer hvac
• Detached garage

Tags

• DETACHED GARAGE
• DOWNTOWN AMENITIES
• NEWER HOT WATER HEATER
• NEWER HVAC

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-49 ($-588/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (24.7% below list).
• Recommended offer: $147k (24.7% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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; 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 $1k of loan paydown is wiped out by about $6k 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

• It's been on market 125 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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 $104k; list at $195k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,848 (24.7% 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. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.75% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.08%
• DSCR: 0.95
• GRM: 11.1

CMA / ARV

• ARV (median comp): $228,603
• List price: $194,900
• Delta: -14.74%
• 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
315 S Mulberry St	0.38mi	3/1.5	2,070 (-1%)	5mo	$212,500	$103	75
322 S Park Ave	0.35mi	3/1.5	2,172 (+4%)	3mo	$205,000	$94	72
126 Fitch Ave	0.37mi	4/2.5 (+1)	2,113 (+1%)	2mo	$220,000	$104	71
116 N Main St	0.05mi	4/2.0 (+1)	2,288 (+10%)	14mo	$137,500	$60	65
119 N Park Ave	0.11mi	3/2.5	1,852 (-11%)	11mo	$275,000	$148	65
405 Western Ave	0.51mi	3/1.0	2,240 (+8%)	0mo	$285,000	$127	59
27 Beechgrove Ave	0.51mi	3/2.0	2,354 (+13%)	1mo	$230,000	$98	54
308 Crestview Ln	0.25mi	3/2.0	2,392 (+15%)	13mo	$284,000	$119	53
711 Sycamore Rd	0.47mi	4/2.5 (+1)	2,292 (+10%)	7mo	$355,000	$155	49
951 Tekulve Rd	0.46mi	4/3.0 (+1)	2,350 (+13%)	2mo	$355,000	$151	47
16 Daimler Ct	0.67mi	3/2.0	2,184 (+5%)	17mo	$310,000	$142	46
808 Western Ave	0.58mi	4/1.5 (+1)	2,270 (+9%)	6mo	$278,000	$122	46

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: -18.1%
• Equity multiple: 0.36×
• Total profit: $-34,768
• Equity at exit: $29,060

10-year hold

• IRR: -10.4%
• Equity multiple: 0.37×
• Total profit: $-34,550
• Equity at exit: $16,851

Cash invested: $54,572 (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 47006

• Active inventory: 83
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,468 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$106 /mo · $1,270/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $-49

Break-even live

Break-even rent $1,531

Max offer price $186,238

Occupancy floor 98%

Sensitivity live

Price	-10% $61	-5% $6	+0% $-49	+5% $-104	+10% $-159
Rent	-10% $-165	-5% $-107	+0% $-49	+5% $9	+10% $67
Rate	-1.0pp $49	-0.5pp $1	base $-49	+0.5pp $-100	+1.0pp $-151

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-08
   status Active 196-char remark

   Show marketing remark (199 chars)

   Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

2. 2026-05-08
   status Active 199-char remark

   Show marketing remark (199 chars)

   Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

3. 2026-05-01
   status Pending 196-char remark

   Show marketing remark (199 chars)

   Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

4. 2026-05-01
   status Pending 199-char remark

   Show marketing remark (199 chars)

   Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

5. 2026-03-16
   price $194,900 196-char remark

   Show marketing remark (199 chars)

   Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

6. 2026-03-16
   price $194,900 199-char remark

   Show marketing remark (199 chars)

   Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

7. 2026-02-09
   price $196,000 196-char remark

   Show marketing remark (199 chars)

   Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

8. 2026-02-09
   price $196,000 199-char remark

   Show marketing remark (199 chars)

   Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

9. 2026-01-14
   price $199,000 196-char remark

   Show marketing remark (196 chars)

   Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

10. 2026-01-14
    price $19,900 196-char remark

    Show marketing remark (196 chars)

    Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

11. 2026-01-13
    listed $199,900 Active 196-char remark

    Show marketing remark (199 chars)

    Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

12. 2026-01-13
    listed $199,000 Active 199-char remark

    Show marketing remark (199 chars)

    Tons of space at a great price. This 3 bed, 2 full bath home is located in town close to all of Batesville's downtown amenities. Oversized two-car detached garage. Newer hot water heater and HVAC.

13. 2015-07-10
    soldstatus $104,000 Sold
14. 2015-07-10
    soldstatus $104,000
15. 2015-06-06
    status Pending
16. 2015-05-06
    listed $108,500 Active
17. 2015-05-05
    listed $108,500

ⓘ 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: $1,270 · $106/mo
• Projected year-2 tax: $1,463 · $122/mo
• Expected delta: +$193/yr (+$16/mo · 15.2%)

ⓘ 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 · 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: $17,622
• − Mortgage interest: −$10,917
• − Property taxes: −$1,270
• − Insurance: −$974
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$5,670
• Taxable loss: −$4,030
• Est. tax savings @ 24.0%: +$967
• After-tax cash flow: $379/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

+79.6% since first listed

17 events — show timeline

• 2026-05-08 Relisted — SEIBR
• 2026-05-08 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-01 Pending — SEIBR
• 2026-05-01 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-16 Price Changed $194,900 SEIBR
• 2026-03-16 Price Changed $194,900 MIBOR as Distributed by MLS Grid
• 2026-02-09 Price Changed $196,000 SEIBR
• 2026-02-09 Price Changed $196,000 MIBOR as Distributed by MLS Grid
• 2026-01-14 Price Changed $199,000 SEIBR
• 2026-01-14 Price Changed $19,900 SEIBR
• 2026-01-13 Listed $199,000 MIBOR as Distributed by MLS Grid
• 2026-01-13 Listed $199,900 SEIBR
• 2015-07-10 Sold (MLS) $104,000 SEIBR
• 2015-07-10 Sold (MLS) $104,000 MIBOR as Distributed by MLS Grid
• 2015-06-06 Pending — MIBOR as Distributed by MLS Grid
• 2015-05-06 Listed $108,500 MIBOR as Distributed by MLS Grid
• 2015-05-05 Listed $108,500 SEIBR

Property tax history

-4.8%/yr

Latest (2024): $1,270 · +21.8% YoY. Source: county tax records.