511 Maple Grove Rd · Boonville, IN 47601

$119,900

3 bd · 1.5 ba · 1,350 sqft · SingleFamily public records · 4 Days on market

Built 1973 0.98 ac lot Est $235k · 49% under

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Why this score? — see what drove the B 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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.6/10.0
• Schools +4.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located on the edge of town, this 3 bedroom/1.5 bathroom ranch style home sits on a . 98 acre corner lot with 2.5 car attached garage. Great opportunity to make it your own. Home is being sold "as-is. " All personal property inside is staying with the home. Home has a lot of potential for the home value to grow.

Key facts

• 0.98 acre lot
• 2 garage spots
• Built 1973

Property features AI

Exterior

• Parking: Attached garage; Approximately 2.5 garage spaces; Off-street parking; Gravel parking surface
• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence; Site-built home; One-story
• Construction: Vinyl siding
• Exterior features: Corner, level lot; Asphalt shingle roof

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 6 total rooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 bathrooms on main level
• Heating & cooling: Natural gas heating; Forced air heating; Central air conditioning
• Interior features: Refrigerator; Electric range; Gas water heater; Water heater; Crawl space basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 10.1% vs local median 3.5% in Boonville — 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 66/100 on livability (#278 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Warrick County School Corporation (suburban): math 54% / reading 59% proficiency, ranked #24 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Oakdale Elementary School (math 54% / reading 56%, grade C, #192 of 994 statewide, top 20%, 458 students, 56% FRL); Boonville Middle School (math 37% / reading 47%, grade D-, #102 of 330 statewide, top 32%, 700 students, 51% FRL); Boonville High School (math 32% / reading 60%, grade D-, #163 of 369 statewide, top 44%, 881 students, 44% FRL) — zoned schools average 50% FRL vs 24% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 158 active listings in the ZIP; 249 units permitted in Warrick County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Warrick County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1973 — 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. 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?
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.68%
• DSCR: 1.61
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $234,900
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1123 Maxville Dr	0.61mi	3/1.5	1,400 (+4%)	11mo	$185,000	$132	56
716 Kiper Ave	0.68mi	3/2.0	1,302 (-4%)	6mo	$174,500	$134	55
1312 Stratford Dr	0.44mi	4/2.0 (+1)	1,438 (+6%)	10mo	$240,000	$167	53
1000 Chariton Dr	0.56mi	3/2.0	1,366 (+1%)	22mo	$229,000	$168	51
1401 Mcelroy St	0.28mi	4/1.0 (+1)	1,176 (-13%)	9mo	$205,000	$174	50
588 W State Rd 62	0.57mi	3/2.0	1,520 (+13%)	12mo	$299,900	$197	41
1111 Chariton Dr	0.55mi	3/2.0	1,176 (-13%)	12mo	$222,000	$189	40
1113 Chariton Dr	0.54mi	3/2.0	1,176 (-13%)	13mo	$213,000	$181	40
1255 Maple Grove Rd	0.73mi	3/2.0	1,538 (+14%)	8mo	$333,450	$217	34
909 E Millis Ave	0.75mi	3/2.0	1,152 (-15%)	12mo	$146,000	$127	29

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: 3.8%
• Equity multiple: 1.15×
• Total profit: $4,898
• Equity at exit: $17,877

10-year hold

• IRR: 13.3%
• Equity multiple: 2.06×
• Total profit: $35,458
• Equity at exit: $10,367

Cash invested: $33,572 (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 47601

• Active inventory: 158
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,391 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$38 /mo · $453/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $383

Break-even live

Break-even rent $907

Max offer price $119,900

Occupancy floor 67%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-17
   status $119,900 Pending 4 DOM
2. 2026-06-16
   days on market $119,900 Active 4 DOM
3. 2026-06-15
   days on market $119,900 Active 3 DOM
4. 2026-06-13
   remarks 313-char remark
5. 2026-06-13
   listed $119,900 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: $453 · $38/mo
• Projected year-2 tax: $736 · $61/mo
• Expected delta: +$283/yr (+$24/mo · 62.4%)

ⓘ 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 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,697
• − Mortgage interest: −$6,716
• − Property taxes: −$453
• − Insurance: −$600
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$3,488
• Taxable income: $2,768
• Est. tax owed @ 24.0%: −$664
• After-tax cash flow: $3,928/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: Warrick County School Corporation
• NCES district ID: 1812390
• Math proficiency: 54% ▼ -8.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $62,801
• Composite: 49.38/100
• National rank: #2014
• State rank: #24 of 301 in IN

Livability — Boonville

• Score: 66/100
• State rank: #278
• US rank: #11520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,119

Population outlook (Warrick County) Hauer SSP2

• Today (2025): 66,569 people
• By 2030: 68,404 · +2.8%
• By 2040: 71,131 · +6.9%
• By 2050: 72,743 · +9.3%
• By 2075: 76,088 · +14.3%
• By 2100: 72,261 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Warrick

• 2024 margin: Solid R (+30.2) · D 34.1% · R 64.3% · Other 1.5%
• 2008→2024 swing: -17.4pp toward R · 2008: -12.8pp · 2024: -30.2pp
• All cycles: 2024: R+30.2 2020: R+27.8 2016: R+33.9 2012: R+26.6 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.46%
• Current HPI: 207.7817
• 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

• 2026-06-11 Listed $119,900 IRMLS

Property tax history

+12.9%/yr

Latest (2024): $453 · -15.5% YoY. Source: county tax records.