214 W Main St · Cambridge City, IN 47327

$114,900

3 bd · 1.0 ba · 1,916 sqft · SingleFamily public records · 89 Days on market

Built 1900 0.69 ac lot $60/sqft · at area comps Est $112k · at est. ↓ 18% since listing

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Why this score? — see what drove the C- 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 +20.7/30.0
• DSCR +6.6/10.0
• ARV discount +6.3/15.0
• 1% rule +4.9/10.0
• Appreciation +4.5/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Own a piece of history with this charming 3-bedroom, 1-bath home located in the heart of Cambridge City! Built in 1836, the same year Cambridge City was founded this property is just steps from local shops, restaurants, and Creitz Park, this property offers the perfect blend of small-town convenience and comfort. The spacious living room is filled with natural light and features an open concept design that flows seamlessly into the kitchen and dining area. Kitchen appliances are included, making this home move-in ready. Outside, you will enjoy a partially fenced backyard and the bonus of off-street parking. Do not miss the opportunity to own a home within walking distance of everything Cambridge City has to offer! Contact Lindsey Fortman today for your private showing at 765-541-1659!

Key facts

• Walking distance
• Off-street parking
• 0.69 acre lot

Tags

• PARTIALLY FENCED BACKYARD
• OFF-STREET PARKING
• WALKING DISTANCE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/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 $114k (0.6% below list).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#387 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Western Wayne Schools (town): math 25% / reading 41% proficiency, ranked #215 of 301 in IN (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 active listings in the ZIP; 38 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.9%/yr); year-one equity from $794 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Wayne County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.9% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% 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: 0.99% ✗
• Cap rate: 7.92%
• Cash-on-cash: 5.80%
• DSCR: 1.26
• GRM: 8.4

CMA / ARV

• ARV (median comp): $112,033
• List price: $114,900
• Delta: 2.56%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
228 Simmons St	0.22mi	2/1.0 (-1)	1,651 (-14%)	3mo	$120,000	$73	59
14 Dale Ave	0.34mi	4/2.0 (+1)	2,100 (+10%)	3mo	$143,000	$68	57
305 Hill Dr	0.40mi	3/2.0	2,155 (+12%)	10mo	$225,000	$104	48
306 Dale Ave	0.50mi	3/3.0	2,192 (+14%)	20mo	$188,000	$86	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,648
• Equity at exit: $28,174

10-year hold

• IRR: 7.6%
• Equity multiple: 1.74×
• Total profit: $23,919
• Equity at exit: $29,961

Cash invested: $32,172 (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 47327

• Home prices YoY: -0.4%
• Active inventory: 24
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,142 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$96 /mo · $1,153/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $155

Break-even live

Break-even rent $945

Max offer price $114,900

Occupancy floor 81%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-28
   price $114,900 795-char remark

   Show marketing remark (795 chars)

   Own a piece of history with this charming 3-bedroom, 1-bath home located in the heart of Cambridge City! Built in 1836, the same year Cambridge City was founded this property is just steps from local shops, restaurants, and Creitz Park, this property offers the perfect blend of small-town convenience and comfort. The spacious living room is filled with natural light and features an open concept design that flows seamlessly into the kitchen and dining area. Kitchen appliances are included, making this home move-in ready. Outside, you will enjoy a partially fenced backyard and the bonus of off-street parking. Do not miss the opportunity to own a home within walking distance of everything Cambridge City has to offer! Contact Lindsey Fortman today for your private showing at 765-541-1659!

2. 2026-02-20
   listed $119,900 Active 795-char remark

   Show marketing remark (795 chars)

   Own a piece of history with this charming 3-bedroom, 1-bath home located in the heart of Cambridge City! Built in 1836, the same year Cambridge City was founded this property is just steps from local shops, restaurants, and Creitz Park, this property offers the perfect blend of small-town convenience and comfort. The spacious living room is filled with natural light and features an open concept design that flows seamlessly into the kitchen and dining area. Kitchen appliances are included, making this home move-in ready. Outside, you will enjoy a partially fenced backyard and the bonus of off-street parking. Do not miss the opportunity to own a home within walking distance of everything Cambridge City has to offer! Contact Lindsey Fortman today for your private showing at 765-541-1659!

3. 2025-12-09
   price $119,900
4. 2025-11-05
   price $129,900
5. 2025-10-15
   price $134,900
6. 2025-09-05
   listed $139,900 Active

ⓘ 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: $1,153 · $96/mo
• Projected year-2 tax: $1,153 · $96/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 6/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,701
• − Mortgage interest: −$6,436
• − Property taxes: −$1,153
• − Insurance: −$574
• − Repairs & maintenance: −$1,096
• − Management: −$1,096
• − Depreciation: −$3,343
• Taxable income: $2
• Est. tax owed @ 24.0%: −$0
• After-tax cash flow: $1,865/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: Western Wayne Schools
• NCES district ID: 1813050
• Math proficiency: 25% ▼ -1.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $40,067
• Composite: 27.68/100
• National rank: #6913
• State rank: #215 of 301 in IN

Livability — Cambridge City

• Score: 64/100
• State rank: #387
• US rank: #14324

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge City, IN
• Population (ZIP): 4,384

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 63,316 people
• By 2030: 60,893 · -3.8%
• By 2040: 55,386 · -12.5%
• By 2050: 49,946 · -21.1%
• By 2075: 37,900 · -40.1%
• By 2100: 26,562 · -58.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Italian 2% Polish 2% Slovak 2%
• Foreign-born: 0%
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 2%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+32.5) · D 32.9% · R 65.4% · Other 1.6%
• 2008→2024 swing: -28.6pp toward R · 2008: -3.9pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+29.1 2016: R+30.1 2012: R+14.7 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.92%
• Current HPI: 243.63
• 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

-17.9% since first listed

6 events — show timeline

• 2026-04-28 Price Changed $114,900 RRELMS
• 2026-02-20 Listed $119,900 RRELMS
• 2025-12-09 Price Changed $119,900 RRELMS
• 2025-11-05 Price Changed $129,900 RRELMS
• 2025-10-15 Price Changed $134,900 RRELMS
• 2025-09-05 Listed $139,900 RRELMS

Property tax history

-0.6%/yr

Latest (2024): $1,153 · +8.6% YoY. Source: county tax records.