732 Barclay St · Logansport, IN 46947

$60,000

2 bd · 1.0 ba · 1,606 sqft · SingleFamily public records · 125 Days on market

Built 1900 0.86 ac lot $37/sqft · 57% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* Seller Financing Available * Excellent city investment opportunity! This two-story, 2-bedroom home offers a functional layout with main-level living space and upstairs bedrooms, maximizing rental appeal. The efficient floor plan and manageable size make it ideal for long-term rental, short-term rental, or a value-add renovation project. Conveniently located near shopping, dining, schools, and major roadways, this property is positioned for strong tenant demand. Whether you’re looking to expand your portfolio or secure your next flip, this two-story home presents solid income and appreciation potential in a desirable in-town location.

Key facts

• Main level living
• Efficient floor plan
• Manageable size

Tags

• TWO STORY
• MAIN LEVEL LIVING
• UPSTAIRS BEDROOMS
• EFFICIENT FLOOR PLAN
• MANAGEABLE SIZE
• STRONG TENANT DEMAND

🏷️ Possibly a rental listed for sale. The $60,000 price doesn't fit this home's estimated sale value (~$138,287) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 4.4% in Logansport — 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 78/100 on livability (#34 in IN, #2,683 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, amenities A+, cost of living A+; Watch: schools F, commute F, employment D-.
• Logansport Community School Corporation (town): math 26% / reading 32% proficiency, ranked #252 of 301 in IN (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 129 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 22 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cass County population projected at -16% 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.66% ✓
• Cap rate: 14.31%
• Cash-on-cash: 28.64%
• DSCR: 2.27
• GRM: 5.0

CMA / ARV

• ARV (median comp): $138,287
• List price: $60,000
• Delta: -56.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
803 Stanley St	0.18mi	3/2.0 (+1)	1,610 (+0%)	6mo	$265,000	$165	77
1619 Treen St	0.29mi	3/2.5 (+1)	1,538 (-4%)	3mo	$224,500	$146	66
1601 Grant St	0.68mi	2/1.0	1,620 (+1%)	10mo	$69,000	$43	58
1110 Cummings St	0.73mi	3/1.0 (+1)	1,612 (+0%)	6mo	$59,000	$37	55
1924 Rogers St	0.57mi	2/1.0	1,632 (+2%)	21mo	$71,000	$44	53
1822 N 3rd St	0.71mi	3/1.5 (+1)	1,557 (-3%)	21mo	$60,000	$39	37
618 Fulton St	0.57mi	3/2.0 (+1)	1,744 (+9%)	21mo	$138,000	$79	33
313 S Hillcrest Dr	0.73mi	3/2.0 (+1)	1,368 (-15%)	23mo	$155,000	$113	13

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: 22.9%
• Equity multiple: 1.94×
• Total profit: $15,811
• Equity at exit: $8,946

10-year hold

• IRR: 30.9%
• Equity multiple: 3.78×
• Total profit: $46,638
• Equity at exit: $5,188

Cash invested: $16,800 (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 46947

• Home prices YoY: -28.9%
• Active inventory: 129
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $995 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$45 /mo · $545/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $401

Break-even live

Break-even rent $487

Max offer price $60,000

Occupancy floor 55%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1426 High Street Rd Logansport, IN	2.0	2.0	1200	$995	$0.83	21d	1	1.08mi

Listing history 19 events

1. 2026-06-18
   days on market $60,000 Active 125 DOM
2. 2026-06-17
   days on market $60,000 Active 124 DOM
3. 2026-06-16
   days on market $60,000 Active 123 DOM
4. 2026-06-15
   days on market $60,000 Active 122 DOM
5. 2026-06-13
   days on market $60,000 Active 120 DOM
6. 2026-06-12
   days on market $60,000 Active 119 DOM
7. 2026-06-09
   days on market $60,000 Active 116 DOM
8. 2026-06-08
   days on market $60,000 Active 115 DOM
9. 2026-06-07
   days on market $60,000 Active 114 DOM
10. 2026-06-07
    days on market $60,000 Active 113 DOM
11. 2026-06-04
    days on market $60,000 Active 110 DOM
12. 2026-06-02
    days on market $60,000 Active 109 DOM
13. 2026-06-01
    days on market $60,000 Active 108 DOM
14. 2026-05-31
    days on market $60,000 Active 107 DOM
15. 2026-05-31
    days on market $60,000 Active 106 DOM
16. 2026-05-07
    status Active 650-char remark

    Show marketing remark (650 chars)

    * Seller Financing Available * Excellent city investment opportunity! This two-story, 2-bedroom home offers a functional layout with main-level living space and upstairs bedrooms, maximizing rental appeal. The efficient floor plan and manageable size make it ideal for long-term rental, short-term rental, or a value-add renovation project. Conveniently located near shopping, dining, schools, and major roadways, this property is positioned for strong tenant demand. Whether you’re looking to expand your portfolio or secure your next flip, this two-story home presents solid income and appreciation potential in a desirable in-town location.

17. 2026-05-07
    historical 650-char remark

    Show marketing remark (650 chars)

    * Seller Financing Available * Excellent city investment opportunity! This two-story, 2-bedroom home offers a functional layout with main-level living space and upstairs bedrooms, maximizing rental appeal. The efficient floor plan and manageable size make it ideal for long-term rental, short-term rental, or a value-add renovation project. Conveniently located near shopping, dining, schools, and major roadways, this property is positioned for strong tenant demand. Whether you’re looking to expand your portfolio or secure your next flip, this two-story home presents solid income and appreciation potential in a desirable in-town location.

18. 2026-04-13
    status Active 650-char remark

    Show marketing remark (650 chars)

    * Seller Financing Available * Excellent city investment opportunity! This two-story, 2-bedroom home offers a functional layout with main-level living space and upstairs bedrooms, maximizing rental appeal. The efficient floor plan and manageable size make it ideal for long-term rental, short-term rental, or a value-add renovation project. Conveniently located near shopping, dining, schools, and major roadways, this property is positioned for strong tenant demand. Whether you’re looking to expand your portfolio or secure your next flip, this two-story home presents solid income and appreciation potential in a desirable in-town location.

19. 2026-02-13
    listed $65,000 Active 650-char remark

    Show marketing remark (650 chars)

    * Seller Financing Available * Excellent city investment opportunity! This two-story, 2-bedroom home offers a functional layout with main-level living space and upstairs bedrooms, maximizing rental appeal. The efficient floor plan and manageable size make it ideal for long-term rental, short-term rental, or a value-add renovation project. Conveniently located near shopping, dining, schools, and major roadways, this property is positioned for strong tenant demand. Whether you’re looking to expand your portfolio or secure your next flip, this two-story home presents solid income and appreciation potential in a desirable in-town location.

ⓘ 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: $545 · $45/mo
• Projected year-2 tax: $545 · $45/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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,940
• − Mortgage interest: −$3,361
• − Property taxes: −$545
• − Insurance: −$300
• − Repairs & maintenance: −$955
• − Management: −$955
• − Depreciation: −$1,745
• Taxable income: $4,078
• Est. tax owed @ 24.0%: −$979
• After-tax cash flow: $3,833/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: Logansport Community School Corporation
• NCES district ID: 1806030
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $37,767
• Composite: 24.19/100
• National rank: #7733
• State rank: #252 of 301 in IN

Livability — Logansport

• Score: 78/100
• State rank: #34
• US rank: #2683

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 28,830
• Population (ZIP): 28,830

Population outlook (Cass County) Hauer SSP2

• Today (2025): 36,480 people
• By 2030: 35,390 · -3.0%
• By 2040: 33,077 · -9.3%
• By 2050: 30,631 · -16.0%
• By 2075: 25,426 · -30.3%
• By 2100: 20,617 · -43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 8% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 80% English-only · Spanish 17% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+46.2) · D 26.2% · R 72.4% · Other 1.4%
• 2008→2024 swing: -37.7pp toward R · 2008: -8.5pp · 2024: -46.2pp
• All cycles: 2024: R+46.2 2020: R+41.1 2016: R+42.0 2012: R+21.7 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.21%
• Current HPI: 223.8394
• 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

4 events — show timeline

• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-13 Relisted — IRMLS
• 2026-02-13 Listed $65,000 IRMLS

Property tax history

-13.0%/yr

Latest (2024): $545 · -17.0% YoY. Source: county tax records.