609 W Main St · Bruceville, IN 47516

$69,000

2 bd · 1.0 ba · 1,221 sqft · SingleFamily public records · 29 Days on market

Built 1920 4,792 sqft lot $57/sqft · 41% below area Est $118k · 41% under ↓ 34% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.5/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bungalow style home features Open Floor plan With Sizeable Kitchen. Features 2 bedrooms and 1 full bath Large laundry area that leads to the partial unfinished basement. Concrete Patio & Storage shed behind the home. Main level laundry.

Key facts

• 4,792 sq ft lot
• Built 1920
• Listed 29 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#376 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools C-, amenities F, commute F.
• North Knox School Corporation (rural): math 28% / reading 45% proficiency, ranked #186 of 301 in IN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 36 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($477 loan paydown + $3k appreciation (5.0% local appreciation)).
• Knox County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($68k) 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,965 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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.
4. 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.
5. 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: 1.50% ✓
• Cap rate: 13.14%
• Cash-on-cash: 24.46%
• DSCR: 2.09
• GRM: 5.6

CMA / ARV

• ARV (median comp): $117,535
• List price: $69,000
• Delta: -36.19%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 W Depot St	0.17mi	2/1.0	1,176 (-4%)	20mo	$100,000	$85	70
5604 N State Road 67	0.29mi	3/2.0 (+1)	1,176 (-4%)	8mo	$132,000	$112	65
701 W Main St	0.13mi	3/2.0 (+1)	1,400 (+15%)	1mo	$195,000	$139	60
723 N Vine St	0.33mi	3/2.0 (+1)	1,344 (+10%)	22mo	$160,000	$119	41

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

Projected returns pro-forma

5.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.2%
• Equity multiple: 3.12×
• Total profit: $40,972
• Equity at exit: $39,106

10-year hold

• IRR: 32.6%
• Equity multiple: 6.29×
• Total profit: $102,152
• Equity at exit: $67,497

Cash invested: $19,320 (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 47516

• Home prices YoY: 2.3%
• Active inventory: 7
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,033 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$32 /mo · $383/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $394

Break-even live

Break-even rent $535

Max offer price $69,000

Occupancy floor 57%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $69,000 Active 29 DOM
2. 2026-06-17
   days on market $69,000 Active 28 DOM
3. 2026-06-16
   days on market $69,000 Active 27 DOM
4. 2026-06-15
   days on market $69,000 Active 26 DOM
5. 2026-06-13
   days on market $69,000 Active 24 DOM
6. 2026-06-12
   days on market $69,000 Active 23 DOM
7. 2026-06-09
   days on market $69,000 Active 20 DOM
8. 2026-06-08
   days on market $69,000 Active 19 DOM
9. 2026-06-07
   days on market $69,000 Active 18 DOM
10. 2026-06-05
    days on market $69,000 Active 16 DOM
11. 2026-06-04
    days on market $69,000 Active 14 DOM
12. 2026-06-02
    days on market $69,000 Active 13 DOM
13. 2026-06-01
    days on market $69,000 Active 12 DOM
14. 2026-05-31
    days on market $69,000 Active 11 DOM
15. 2026-05-31
    days on market $69,000 Active 10 DOM
16. 2026-05-20
    listed $69,000 Active 242-char remark

    Show marketing remark (242 chars)

    Bungalow style home features Open Floor plan With Sizeable Kitchen. Features 2 bedrooms and 1 full bath Large laundry area that leads to the partial unfinished basement. Concrete Patio & Storage shed behind the home. Main level laundry.

17. 2026-04-22
    price $75,000
18. 2026-03-25
    price $79,900
19. 2026-02-27
    price $82,900
20. 2026-01-27
    price $87,000
21. 2025-12-29
    price $91,000
22. 2025-11-25
    price $95,000
23. 2025-10-24
    price $99,900
24. 2025-09-10
    listed $104,900 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: $383 · $32/mo
• Projected year-2 tax: $485 · $40/mo
• Expected delta: +$102/yr (+$8/mo · 26.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $12,400
• − Mortgage interest: −$3,865
• − Property taxes: −$383
• − Insurance: −$345
• − Repairs & maintenance: −$992
• − Management: −$992
• − Depreciation: −$2,007
• Taxable income: $3,815
• Est. tax owed @ 24.0%: −$916
• After-tax cash flow: $3,810/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: North Knox School Corporation
• NCES district ID: 1807830
• Math proficiency: 28% ▼ -11.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $42,553
• Composite: 30.82/100
• National rank: #6139
• State rank: #186 of 301 in IN

Livability — Bruceville

• Score: 64/100
• State rank: #376
• US rank: #14064

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bruceville, IN
• Population (ZIP): 943

Population outlook (Knox County) Hauer SSP2

• Today (2025): 37,092 people
• By 2030: 36,271 · -2.2%
• By 2040: 34,196 · -7.8%
• By 2050: 32,405 · -12.6%
• By 2075: 28,754 · -22.5%
• By 2100: 24,110 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+50.4) · D 24.0% · R 74.4% · Other 1.6%
• 2008→2024 swing: -43.9pp toward R · 2008: -6.5pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+47.4 2016: R+47.2 2012: R+28.9 2008: R+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.00%
• Current HPI: 218.6782
• 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

-34.2% since first listed

9 events — show timeline

• 2026-05-20 Listed $69,000 IRMLS
• 2026-04-22 Price Changed $75,000 IRMLS
• 2026-03-25 Price Changed $79,900 IRMLS
• 2026-02-27 Price Changed $82,900 IRMLS
• 2026-01-27 Price Changed $87,000 IRMLS
• 2025-12-29 Price Changed $91,000 IRMLS
• 2025-11-25 Price Changed $95,000 IRMLS
• 2025-10-24 Price Changed $99,900 IRMLS
• 2025-09-10 Listed $104,900 IRMLS

Property tax history

+5.1%/yr

Latest (2024): $383 · -38.4% YoY. Source: county tax records.