2913 S Scott Dr

Yorktown, IN 47396

$350,000F

4 bd · 2.5 ba · 2,540 sqft · Built 1991 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,715/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$297
• HOA: −$0
• Vac / Maint / Mgmt: −$570
• Net cashflow: $12/mo
• Annual: $148/yr
• Cap rate: 6.34%
• Cash-on-cash: 0.15%
• DSCR: 1.01
• 1% rule: 0.78%
• Cash to close: $98,000

Investor read

• This is a 4-bed/2.5-bath single-family listed at $350k.
• At list price, monthly cash flow is $12 ($148/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 $272k (22.4% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $272k (22.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#99 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Yorktown Community Schools (suburban): math 49% / reading 51% proficiency, ranked #48 of 301 in IN (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Yorktown Elementary School (math 62% / reading 49%, grade C, #188 of 994 statewide, top 19%, 672 students, 36% FRL); Yorktown Middle School (math 38% / reading 44%, grade F, #113 of 330 statewide, top 35%, 656 students, 37% FRL); Yorktown High School (math 42% / reading 77%, grade C+, #49 of 369 statewide, top 16%, 793 students, 33% FRL).
• Market conditions: 48 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 171 units permitted in Delaware County in 2024 (57 in 5+ unit buildings).
• Delaware County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 6.3% vs local median 3.5% in Yorktown — 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.

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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.