8675 S Bryan St · Ora, IN 46968

$127,500

2 bd · 1.0 ba · 990 sqft · SingleFamily public records · 83 Days on market

Built 1920 8,712 sqft lot $129/sqft · 70% above area Est $150k · 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 +14.4/15.0
• Cash flow +10.2/30.0
• Appreciation +5.0/10.0
• DSCR +2.9/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks MLS

Welcome to 8675 S Bryan in Ora IN. This home is a captivating single family residence presents itself as an inviting home, perfectly ready for immediate enjoyment. Within this thoughtful single family residence, two comfortable bedrooms offer peaceful sanctuaries for rest and rejuvenation, each providing a personal haven for quiet moments. The home also features a meticulously appointed full bathroom, designed for refreshing daily routines and providing essential comfort. Spanning 990 square feet of living area, this single-story abode provides a comfortable and easily navigated environment, promoting a relaxed pace of life. The property is graced with an expansive 8712 square feet lot, offering ample outdoor space for cultivating personal gardens or simply enjoying tranquil moments under the open sky. Erected in 1920, this inviting home carries the enduring character of its era, yet it stands in a condition ready to move in, seamlessly blending its historical essence with modern-day convenience and immediate comfort. This single family residence offers a truly delightful opportunity to embrace a life of comfort and charm.

Key facts

• Full bathroom
• Outdoor space
• Historical essence

Tags

• SINGLE FAMILY RESIDENCE
• FULL BATHROOM
• OUTDOOR SPACE
• HISTORICAL ESSENCE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $-72 ($-861/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (9.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (29.8% below list).
• Recommended offer: $89k (29.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Culver Community Schools Corporation (rural): math 27% / reading 35% proficiency, ranked #236 of 301 in IN (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 58 units permitted in Starke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($882 loan paydown + $4k appreciation (3.0% local appreciation)).
• Starke County population projected at -23% 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 $36k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y 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 $51k; list at $128k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,472 (29.8% 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 83 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — 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. 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?
7. 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.
8. 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.
9. 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: 0.70% ✗
• Cap rate: 5.62%
• Cash-on-cash: -2.41%
• DSCR: 0.89
• GRM: 11.9

CMA / ARV

• ARV (median comp): $150,438
• List price: $127,500
• Delta: -15.25%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.30×
• Total profit: $10,739
• Equity at exit: $57,330

10-year hold

• IRR: 8.3%
• Equity multiple: 2.25×
• Total profit: $44,588
• Equity at exit: $88,352

Cash invested: $35,700 (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 46968

• Active inventory: 3
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $895 medium
• Mortgage (P&I): −$669
• Tax from tax record: −$57 /mo · $682/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $-72

Break-even live

Break-even rent $986

Max offer price $114,823

Occupancy floor —

Sensitivity live

Price	-10% $0	-5% $-36	+0% $-72	+5% $-108	+10% $-144
Rent	-10% $-142	-5% $-107	+0% $-72	+5% $-36	+10% $-1
Rate	-1.0pp $-8	-0.5pp $-39	base $-72	+0.5pp $-105	+1.0pp $-138

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: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $127,500 Active 83 DOM
2. 2026-06-18
   days on market $127,500 Active 82 DOM
3. 2026-06-17
   days on market $127,500 Active 81 DOM
4. 2026-06-16
   days on market $127,500 Active 80 DOM
5. 2026-06-15
   days on market $127,500 Active 79 DOM
6. 2026-06-14
   days on market $127,500 Active 77 DOM
7. 2026-06-12
   days on market $127,500 Active 76 DOM
8. 2026-06-09
   days on market $127,500 Active 73 DOM
9. 2026-06-08
   days on market $127,500 Active 72 DOM
10. 2026-06-07
    days on market $127,500 Active 71 DOM
11. 2026-06-07
    days on market $127,500 Active 70 DOM
12. 2026-06-02
    days on market $127,500 Active 66 DOM
13. 2026-06-01
    days on market $127,500 Active 65 DOM
14. 2026-05-31
    days on market $127,500 Active 64 DOM
15. 2026-05-30
    days on market $127,500 Active 63 DOM
16. 2026-03-28
    listed $127,500 Active 1145-char remark

    Show marketing remark (1145 chars)

    Welcome to 8675 S Bryan in Ora IN. This home is a captivating single family residence presents itself as an inviting home, perfectly ready for immediate enjoyment. Within this thoughtful single family residence, two comfortable bedrooms offer peaceful sanctuaries for rest and rejuvenation, each providing a personal haven for quiet moments. The home also features a meticulously appointed full bathroom, designed for refreshing daily routines and providing essential comfort. Spanning 990 square feet of living area, this single-story abode provides a comfortable and easily navigated environment, promoting a relaxed pace of life. The property is graced with an expansive 8712 square feet lot, offering ample outdoor space for cultivating personal gardens or simply enjoying tranquil moments under the open sky. Erected in 1920, this inviting home carries the enduring character of its era, yet it stands in a condition ready to move in, seamlessly blending its historical essence with modern-day convenience and immediate comfort. This single family residence offers a truly delightful opportunity to embrace a life of comfort and charm.

17. 2022-07-11
    soldstatus $51,250 Closed
18. 2022-03-15
    listed $64,900 Active
19. 2020-07-08
    historical
20. 2020-01-10
    listed $57,900
21. 2020-01-10
    listed $57,900
22. 2012-05-28
    listed $65,000
23. 2010-12-30
    soldstatus $55,000

ⓘ 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: $682 · $57/mo
• Projected year-2 tax: $883 · $74/mo
• Expected delta: +$201/yr (+$17/mo · 29.4%)

ⓘ 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 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,737
• − Mortgage interest: −$7,142
• − Property taxes: −$682
• − Insurance: −$638
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$3,709
• Taxable loss: −$3,152
• Est. tax savings @ 24.0%: +$756
• After-tax cash flow: $-105/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: Culver Community Schools Corporation
• NCES district ID: 1802520
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $43,718
• Composite: 26.41/100
• National rank: #7227
• State rank: #236 of 301 in IN

Livability — Ora

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Ora, IN
• City population: 136
• Population (ZIP): 136

Population outlook (Starke County) Hauer SSP2

• Today (2025): 21,860 people
• By 2030: 21,024 · -3.8%
• By 2040: 19,041 · -12.9%
• By 2050: 16,881 · -22.8%
• By 2075: 11,880 · -45.7%
• By 2100: 7,217 · -67.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%

Political lean MEDSL · Starke

• 2024 margin: Solid R (+52.0) · D 23.2% · R 75.3% · Other 1.5%
• 2008→2024 swing: -55.3pp toward R · 2008: 3.2pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+46.8 2016: R+42.0 2012: R+10.6 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+131.8% since first listed

8 events — show timeline

• 2026-03-28 Listed $127,500 MIBOR as Distributed by MLS Grid
• 2022-07-11 Sold (MLS) $51,250 IRMLS
• 2022-03-15 Listed $64,900 IRMLS
• 2020-07-08 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2020-01-10 Listed $57,900 NIRA MLS as Distributed by MLS Grid
• 2020-01-10 Listed $57,900 IRMLS
• 2012-05-28 Listed $65,000 IRMLS
• 2010-12-30 Sold (Public Records) $55,000 Public Records

Property tax history

+81.0%/yr

Latest (2024): $682 · +3.7% YoY. Source: county tax records.