5783 S Monroe St

Sidney, IN 46580

$77,000B-

3 bd · 2.0 ba · 1,560 sqft · Built 2001 · SingleFamily · Pending · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,399/mo
• Mortgage (P&I): −$404
• Tax + insurance: −$60
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $642/mo
• Annual: $7,699/yr
• Cap rate: 16.29%
• Cash-on-cash: 35.71%
• DSCR: 2.59
• 1% rule: 1.82%
• Cash to close: $21,560

Investor read

• This is a 3-bed/2.0-bath single-family listed at $77k.
• At list price, monthly cash flow is $642 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $77k).
• It's been on market 15 days — a 2% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $76k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $532 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#528 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, amenities F.
• Whitko Community School Corporation (rural): math 27% / reading 39% proficiency, ranked #204 of 301 in IN (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pierceton Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 386 students, 59% FRL); Whitko Jr/Sr High School (math 18% / reading 40%, grade F, #312 of 369 statewide, top 85%, 541 students, 43% FRL) — zoned schools average 51% FRL vs 35% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 105 active listings in the ZIP; 261 units permitted in Kosciusko County in 2024 (10 in 5+ unit buildings).
• Kosciusko County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.
• 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.