113 S Main St · Maxwell, IN 46154

$124,900

4 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 1 Days on market

Built 1936

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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 +23.7/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Appreciation +5.0/10.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

LARGER THAT IT LOOKS! LOTS OF SPACE. LOTS OF STORAGE. HOT TUB INCLUDED BUT NOT WARRANTED. HOUSE IS OFFERED IN "AS-IS" CONDITION. TWO UPPER LEVEL ROOMS ARE SEMI-FINISHED.

Key facts

• Built 1936

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Greenfield-Central Community Schools (other): math 47% / reading 45% proficiency, ranked #83 of 301 in IN (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($864 loan paydown + $4k appreciation (3.0% local appreciation)).
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 28y ago 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.
• Current owner paid $24k; list at $125k implies a 423% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1936 — 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: 1.08% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.18%
• DSCR: 1.36
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $262,080
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4747 N Mill Ct	0.18mi	3/2.0 (-1)	1,286 (+10%)	9mo	$290,000	$226	59
115 S Center St	0.07mi	3/2.0 (-1)	1,328 (+14%)	12mo	$155,000	$117	56
105 Cottonwood Dr	0.14mi	3/2.0 (-1)	1,344 (+15%)	10mo	$193,000	$144	51
2374 E Water Wheel Dr	0.39mi	3/2.0 (-1)	1,324 (+13%)	2mo	$296,000	$224	49

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: 15.1%
• Equity multiple: 1.86×
• Total profit: $30,235
• Equity at exit: $56,160

10-year hold

• IRR: 16.8%
• Equity multiple: 3.47×
• Total profit: $86,368
• Equity at exit: $86,550

Cash invested: $34,972 (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 46154

• Active inventory: 3
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,355 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$125 /mo · $1,496/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $238

Break-even live

Break-even rent $1,053

Max offer price $124,900

Occupancy floor 77%

Sensitivity live

Price	-10% $309	-5% $274	+0% $238	+5% $203	+10% $168
Rent	-10% $131	-5% $185	+0% $238	+5% $292	+10% $345
Rate	-1.0pp $301	-0.5pp $270	base $238	+0.5pp $206	+1.0pp $173

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-26
   listed $124,900 Active
2. 2000-06-02
   soldstatus $23,900 179-char remark

   Show marketing remark (179 chars)

   LARGER THAT IT LOOKS! LOTS OF SPACE. LOTS OF STORAGE. HOT TUB INCLUDED BUT NOT WARRANTED. HOUSE IS OFFERED IN "AS-IS" CONDITION. TWO UPPER LEVEL ROOMS ARE SEMI-FINISHED.

3. 2000-04-24
   listed $33,900 179-char remark

   Show marketing remark (179 chars)

   LARGER THAT IT LOOKS! LOTS OF SPACE. LOTS OF STORAGE. HOT TUB INCLUDED BUT NOT WARRANTED. HOUSE IS OFFERED IN "AS-IS" CONDITION. TWO UPPER LEVEL ROOMS ARE SEMI-FINISHED.

4. 2000-03-15
   historical
5. 1998-12-28
   listed $44,900

ⓘ 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: $1,496 · $125/mo
• Projected year-2 tax: $1,496 · $125/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 · 18 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: $16,255
• − Mortgage interest: −$6,996
• − Property taxes: −$1,496
• − Insurance: −$624
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − Depreciation: −$3,633
• Taxable income: $904
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $2,644/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: Greenfield-Central Community Schools
• NCES district ID: 1804050
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $55,533
• Composite: 40.01/100
• National rank: #3827
• State rank: #83 of 301 in IN

Livability — Maxwell

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Maxwell, IN
• City population: 175
• Population (ZIP): 175

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+178.2% since first listed

5 events — show timeline

• 2026-05-26 Listed $124,900 FSBO.com
• 2000-06-02 Sold (MLS) $23,900 MIBOR as Distributed by MLS Grid
• 2000-04-24 Listed $33,900 MIBOR as Distributed by MLS Grid
• 2000-03-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 1998-12-28 Listed $44,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2025): $1,496 · +1.0% YoY. Source: county tax records.