312 E Main St · Farmersburg, IN 47850

$79,000

2 bd · 1.0 ba · 1,425 sqft · SingleFamily public records · 15 Days on market

Built 1952 0.33 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.4/10.0

Listing remarks MLS

Great opportunity to own this 2 BDRM well-built home & make it your own! This home has great bones & is ready for your upgrades! Spacious floorplan with family room & living room offering 2 separate gathering spaces. Family Room could even be used as a 3rd bedroom with separate entrance & lots of natural light! Laundry Room has utility sink & extra space for shelving & storage. Kitchen offers loft of cabinet & counter space with a pantry area! Unique features of the home are the pocket doors in the kitchen to the living room and family room areas & the pop up Breakfast Nook table that could also be used as additional counterspace. Dual closets in the main bedroom. The oversized 1 car garage offers shelving space for storage & a back door to access the backyard! Close to town, easy access to the highway! Great neighbors! Come check this one out!

Key facts

• 0.33 acre lot
• Garage
• Built 1952

Property features AI

Finance

• Other: Approximately 0.33-acre lot (rural setting, sidewalks); Property type listed as residential

Exterior

• Parking: Attached garage with garage door opener (1-car)
• Utilities: Public water; Municipal sewer; Electricity connected; Natural gas connected; Cable available
• Home design: Single-family residence; One story
• Construction: Aluminum and vinyl siding; Slab foundation
• Exterior features: Covered patio

Interior

• Kitchen: Electric oven
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic with pull-down stairs
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#434 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment D+, amenities F, commute F.
• Northeast School Corporation (rural): math 29% / reading 34% proficiency, ranked #228 of 301 in IN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northeast North Elementary School (math 37% / reading 32%, grade F, #597 of 994 statewide, top 63%, 228 students, 66% FRL) — zoned schools average 66% FRL vs 44% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 19 active listings in the ZIP; 4 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Sullivan County population projected at -12% 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 $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($78k) 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 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,815 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — 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: 1.49% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.79%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $163,875
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
515 E Main St	0.14mi	3/2.0 (+1)	1,456 (+2%)	4mo	$192,000	$132	78
603 S Third St	0.40mi	3/1.0 (+1)	1,494 (+5%)	2mo	$170,000	$114	67
816 S East St	0.43mi	2/1.0	1,583 (+11%)	2mo	$182,500	$115	60
11305 N CR 200 E	0.46mi	3/1.0 (+1)	1,314 (-8%)	2mo	$172,000	$131	59
11542 N County Road 200 E	0.36mi	3/2.0 (+1)	1,499 (+5%)	13mo	$172,500	$115	55

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: 13.2%
• Equity multiple: 1.53×
• Total profit: $11,621
• Equity at exit: $11,779

10-year hold

• IRR: 22.0%
• Equity multiple: 2.88×
• Total profit: $41,616
• Equity at exit: $6,830

Cash invested: $22,120 (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 47850

• Home prices YoY: -3.8%
• Active inventory: 19
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,176 medium
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $383

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 62%

Sensitivity live

Price	-10% $438	-5% $410	+0% $383	+5% $356	+10% $329
Rent	-10% $290	-5% $337	+0% $383	+5% $430	+10% $476
Rate	-1.0pp $423	-0.5pp $403	base $383	+0.5pp $363	+1.0pp $342

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   status $79,000 Pending 15 DOM
2. 2026-06-18
   days on market $79,000 Active 15 DOM
3. 2026-06-17
   days on market $79,000 Active 14 DOM
4. 2026-06-16
   days on market $79,000 Active 13 DOM
5. 2026-06-15
   days on market $79,000 Active 12 DOM
6. 2026-06-14
   days on market $79,000 Active 10 DOM
7. 2026-06-13
   days on market $79,000 Active 9 DOM
8. 2026-06-10
   days on market $79,000 Active 7 DOM
9. 2026-06-09
   days on market $79,000 Active 6 DOM
10. 2026-06-08
    days on market $79,000 Active 5 DOM
11. 2026-06-07
    statusdays on market $79,000 Active 4 DOM
12. 2026-05-07
    status Pending 912-char remark

    Show marketing remark (912 chars)

    Great opportunity to own this 2 BDRM well-built home & make it your own! This home has great bones & is ready for your upgrades! Spacious floorplan with family room & living room offering 2 separate gathering spaces. Family Room could even be used as a 3rd bedroom with separate entrance & lots of natural light! Laundry Room has utility sink & extra space for shelving & storage. Kitchen offers loft of cabinet & counter space with a pantry area! Unique features of the home are the pocket doors in the kitchen to the living room and family room areas & the pop up Breakfast Nook table that could also be used as additional counterspace. Dual closets in the main bedroom. The oversized 1 car garage offers shelving space for storage & a back door to access the backyard! Close to town, easy access to the highway! Great neighbors! Come check this one out!

13. 2026-05-06
    status Pending
14. 2026-05-01
    listed $79,000 Active 912-char remark

    Show marketing remark (912 chars)

    Great opportunity to own this 2 BDRM well-built home & make it your own! This home has great bones & is ready for your upgrades! Spacious floorplan with family room & living room offering 2 separate gathering spaces. Family Room could even be used as a 3rd bedroom with separate entrance & lots of natural light! Laundry Room has utility sink & extra space for shelving & storage. Kitchen offers loft of cabinet & counter space with a pantry area! Unique features of the home are the pocket doors in the kitchen to the living room and family room areas & the pop up Breakfast Nook table that could also be used as additional counterspace. Dual closets in the main bedroom. The oversized 1 car garage offers shelving space for storage & a back door to access the backyard! Close to town, easy access to the highway! Great neighbors! Come check this one out!

15. 2026-05-01
    listed $79,000 Active

    Show marketing remark (912 chars)

    Great opportunity to own this 2 BDRM well-built home & make it your own! This home has great bones & is ready for your upgrades! Spacious floorplan with family room & living room offering 2 separate gathering spaces. Family Room could even be used as a 3rd bedroom with separate entrance & lots of natural light! Laundry Room has utility sink & extra space for shelving & storage. Kitchen offers loft of cabinet & counter space with a pantry area! Unique features of the home are the pocket doors in the kitchen to the living room and family room areas & the pop up Breakfast Nook table that could also be used as additional counterspace. Dual closets in the main bedroom. The oversized 1 car garage offers shelving space for storage & a back door to access the backyard! Close to town, easy access to the highway! Great neighbors! Come check this one out!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,113
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$1,129
• − Management: −$1,129
• − Depreciation: −$2,298
• Taxable income: $3,552
• Est. tax owed @ 24.0%: −$852
• After-tax cash flow: $3,746/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: Northeast School Corporation
• NCES district ID: 1808160
• Math proficiency: 29% ▼ -10.00%
• Reading proficiency: 34% ▼ -7.00%
• Median HH income: $45,565
• Composite: 27.01/100
• National rank: #7061
• State rank: #228 of 301 in IN

Livability — Farmersburg

• Score: 63/100
• State rank: #434
• US rank: #15622

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmersburg, IN
• Population (ZIP): 2,027

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 20,313 people
• By 2030: 19,908 · -2.0%
• By 2040: 19,009 · -6.4%
• By 2050: 17,972 · -11.5%
• By 2075: 14,929 · -26.5%
• By 2100: 11,391 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Asian 4%
• Common ancestry: Italian 4% Slovak 3% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Sullivan

• 2024 margin: Solid R (+52.7) · D 22.8% · R 75.5% · Other 1.7%
• 2008→2024 swing: -52.0pp toward R · 2008: -0.7pp · 2024: -52.7pp
• All cycles: 2024: R+52.7 2020: R+50.5 2016: R+47.0 2012: R+20.6 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.13%
• Current HPI: 183.1507
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-07 Pending — IRMLS
• 2026-05-06 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-01 Listed $79,000 MIBOR as Distributed by MLS Grid
• 2026-05-01 Listed $79,000 IRMLS