250 W Avery St · Frankfort, IN 46041

$270,000

4 bd · 2.0 ba · 2,128 sqft · SingleFamily public records · 22 Days on market

Built 1951 4,792 sqft lot Est $243k · 11% over

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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 +15.2/30.0
• DSCR +4.7/10.0
• Livability +3.7/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW WOW WOW, looks are so deceiving! This well kept ranch offers 4 bedrooms, living room with fireplace, dining room, eat in kitchen, 2 updated bathrooms, and finished basement. Step outside to your own paradise in backyard with privacy fence in-ground pool, bar, patio, and cabana area! New A/C gutters water softener in 2020, new pool liner and gas water heater in 2021! This home is move in ready!

Key facts

• Patio area
• Finished basement
• Updated bathrooms

Tags

• FINISHED BASEMENT
• UPDATED BATHROOMS
• THOUGHTFULLY DESIGNED KITCHEN
• INGROUND POOL
• PATIO AREA
• CABANA

Property features AI

Finance

• HOA & community: Community pool

Exterior

• Parking: Attached garage with garage door opener; Approximately 1.5 garage spaces; Asphalt driveway and off-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available and connected; Public power
• Home design: Single-family residence (site-built); One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Patio; Porch; Privacy fencing; In-ground private pool; Shingle roof; Irregular lot on a paved, public-maintained road (38 x 132)

Interior

• Kitchen: Electric range; Refrigerator; Disposal; Water softener (owned)
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Natural gas forced-air heating; Central air; Ceiling fan(s); ENERGY STAR qualified HVAC equipment
• Interior features: Ceiling fans; Eat-in kitchen; Wet bar; Laminate countertops; Built-in features; Finished partial basement; Wood-burning fireplace in the living room
• Laundry & utility: Electric dryer hookup; Laundry on lower level; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/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 $230k (15.0% below list).
• Recommended offer: $230k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.9% in Frankfort — 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 73/100 on livability (#107 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Community Schools Of Frankfort (rural): math 27% / reading 30% proficiency, ranked #251 of 301 in IN (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Suncrest Elementary School (math 35% / reading 29%, grade F, #652 of 994 statewide, top 68%, 560 students, 85% FRL); Frankfort Middle School (math 19% / reading 27%, grade F, #263 of 330 statewide, top 80%, 706 students, 83% FRL); Frankfort High School (math 8% / reading 42%, grade F, #323 of 369 statewide, top 88%, 895 students, 75% FRL).
• Market conditions: 129 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 59 units permitted in Clinton 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 $8k of value loss. Plan a longer hold.
• Clinton County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 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 $230k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $229,500 (15.0% below list)

Questions for the listing agent

1. Built in 1951 — 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 F-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. 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: 0.85% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.47%
• DSCR: 1.07
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $242,592
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1061 N Jackson St	0.29mi	4/2.0	2,168 (+2%)	13mo	$195,000	$90	72
1059 N Main St	0.25mi	3/1.0 (-1)	2,196 (+3%)	3mo	$227,500	$104	71
1009 Gentry St	0.27mi	4/2.0	1,997 (-6%)	10mo	$203,000	$102	69
1053 Burlington Ave	0.70mi	4/1.5	2,307 (+8%)	8mo	$275,000	$119	44
460 W Palmer St	0.33mi	4/1.0	1,868 (-12%)	22mo	$55,000	$29	41
751 Woodland Ct	0.66mi	3/2.5 (-1)	1,864 (-12%)	1mo	$238,000	$128	41
309 W Morrison St	0.69mi	3/1.0 (-1)	1,905 (-10%)	2mo	$217,000	$114	40
900 N Harrison St	0.43mi	3/1.0 (-1)	1,856 (-13%)	12mo	$261,000	$141	39

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: -14.0%
• Equity multiple: 0.50×
• Total profit: $-37,920
• Equity at exit: $40,258

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-25,663
• Equity at exit: $23,345

Cash invested: $75,600 (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 46041

• Home prices YoY: -17.8%
• Active inventory: 129
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,295 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$192 /mo · $2,307/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $92

Break-even live

Break-even rent $2,178

Max offer price $270,000

Occupancy floor 91%

Sensitivity live

Price	-10% $245	-5% $169	+0% $92	+5% $16	+10% $-60
Rent	-10% $-89	-5% $2	+0% $92	+5% $183	+10% $274
Rate	-1.0pp $228	-0.5pp $161	base $92	+0.5pp $22	+1.0pp $-49

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
904 E Clinton St Frankfort, IN	4.0	2.0	2447	$2,295	$0.94	13d	1	1.04mi

Listing history 21 events

1. 2026-06-21
   days on market $270,000 Active 22 DOM
2. 2026-06-18
   days on market $270,000 Active 20 DOM
3. 2026-06-17
   days on market $270,000 Active 19 DOM
4. 2026-06-16
   days on market $270,000 Active 18 DOM
5. 2026-06-15
   days on market $270,000 Active 17 DOM
6. 2026-06-13
   days on market $270,000 Active 15 DOM
7. 2026-06-12
   days on market $270,000 Active 14 DOM
8. 2026-06-09
   days on market $270,000 Active 11 DOM
9. 2026-06-08
   days on market $270,000 Active 10 DOM
10. 2026-06-07
    days on market $270,000 Active 9 DOM
11. 2026-06-07
    days on market $270,000 Active 8 DOM
12. 2026-06-04
    days on market $270,000 Active 5 DOM
13. 2026-06-02
    days on market $270,000 Active 4 DOM
14. 2026-06-01
    days on market $270,000 Active 3 DOM
15. 2026-05-31
    days on market $270,000 Active 2 DOM
16. 2026-05-29
    listed $270,000 Active
17. 2022-07-20
    soldstatus $230,000 Closed 400-char remark

    Show marketing remark (400 chars)

    WOW WOW WOW, looks are so deceiving! This well kept ranch offers 4 bedrooms, living room with fireplace, dining room, eat in kitchen, 2 updated bathrooms, and finished basement. Step outside to your own paradise in backyard with privacy fence in-ground pool, bar, patio, and cabana area! New A/C gutters water softener in 2020, new pool liner and gas water heater in 2021! This home is move in ready!

18. 2022-07-11
    status Pending 400-char remark

    Show marketing remark (400 chars)

    WOW WOW WOW, looks are so deceiving! This well kept ranch offers 4 bedrooms, living room with fireplace, dining room, eat in kitchen, 2 updated bathrooms, and finished basement. Step outside to your own paradise in backyard with privacy fence in-ground pool, bar, patio, and cabana area! New A/C gutters water softener in 2020, new pool liner and gas water heater in 2021! This home is move in ready!

19. 2022-06-23
    historical Active Under Contract 400-char remark

    Show marketing remark (400 chars)

    WOW WOW WOW, looks are so deceiving! This well kept ranch offers 4 bedrooms, living room with fireplace, dining room, eat in kitchen, 2 updated bathrooms, and finished basement. Step outside to your own paradise in backyard with privacy fence in-ground pool, bar, patio, and cabana area! New A/C gutters water softener in 2020, new pool liner and gas water heater in 2021! This home is move in ready!

20. 2022-06-04
    historical 400-char remark

    Show marketing remark (400 chars)

    WOW WOW WOW, looks are so deceiving! This well kept ranch offers 4 bedrooms, living room with fireplace, dining room, eat in kitchen, 2 updated bathrooms, and finished basement. Step outside to your own paradise in backyard with privacy fence in-ground pool, bar, patio, and cabana area! New A/C gutters water softener in 2020, new pool liner and gas water heater in 2021! This home is move in ready!

21. 2022-06-01
    listed $234,900 400-char remark

    Show marketing remark (400 chars)

    WOW WOW WOW, looks are so deceiving! This well kept ranch offers 4 bedrooms, living room with fireplace, dining room, eat in kitchen, 2 updated bathrooms, and finished basement. Step outside to your own paradise in backyard with privacy fence in-ground pool, bar, patio, and cabana area! New A/C gutters water softener in 2020, new pool liner and gas water heater in 2021! This home is move in ready!

ⓘ 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: $2,307 · $192/mo
• Projected year-2 tax: $2,307 · $192/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 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,540
• − Mortgage interest: −$15,124
• − Property taxes: −$2,307
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,203
• − Management: −$2,203
• − Depreciation: −$7,855
• Taxable loss: −$3,502
• Est. tax savings @ 24.0%: +$840
• After-tax cash flow: $1,949/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: Community Schools Of Frankfort
• NCES district ID: 1803660
• Math proficiency: 27% ▼ -3.00%
• Reading proficiency: 30% ▼ -6.00%
• Median HH income: $42,144
• Composite: 24.2/100
• National rank: #7728
• State rank: #251 of 301 in IN

Livability — Frankfort

• Score: 73/100
• State rank: #107
• US rank: #5623

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: Frankfort, IN
• Population (ZIP): 23,359

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 31,197 people
• By 2030: 30,257 · -3.0%
• By 2040: 28,383 · -9.0%
• By 2050: 26,644 · -14.6%
• By 2075: 23,858 · -23.5%
• By 2100: 22,236 · -28.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 24% Two or more races 11%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada, Philippines
• Languages at home: 86% English-only · Spanish 14%

Political lean MEDSL · Clinton

• 2024 margin: Solid R (+48.0) · D 25.2% · R 73.2% · Other 1.6%
• 2008→2024 swing: -35.0pp toward R · 2008: -13.0pp · 2024: -48.0pp
• All cycles: 2024: R+48.0 2020: R+46.1 2016: R+48.0 2012: R+30.7 2008: R+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.02%
• Current HPI: 263.2258
• 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

+14.9% since first listed

6 events — show timeline

• 2026-05-29 Listed $270,000 IRMLS
• 2022-07-20 Sold (MLS) $230,000 IRMLS
• 2022-07-11 Pending — IRMLS
• 2022-06-23 Contingent — IRMLS
• 2022-06-04 Delisted — IRMLS
• 2022-06-01 Listed $234,900 IRMLS

Property tax history

+10.3%/yr

Latest (2024): $2,307 · +1.9% YoY. Source: county tax records.