1010 W Warren St · Mitchell, IN 47446

$117,000

2 bd · 1.0 ba · 903 sqft · SingleFamily public records · 181 Days on market

Built 1900 6,534 sqft lot $130/sqft · 22% below area Est $150k · 22% under

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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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.3/10.0
• Appreciation +5.3/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this charming and affordable 2 bedroom! This home offers a covered front porch, spacious rooms, and kitchen complete with appliances. Outside you will enjoy evenings relaxing on the patio in your private back yard. And last but not least there is a extra large shed at the back of the property great for all of your storage needs. Don't miss out on the chance to call this your own! Owner Selling "as is. "

Key facts

• Covered front porch
• New columns
• Private back yard

Tags

• LARGE KITCHEN
• COVERED FRONT PORCH
• PRIVATE BACK YARD
• LARGE SHED
• NEW COLUMNS
• NEW SHUTTERS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $117k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $117k).
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.3% in Mitchell — 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.

Location & tenants

• Location reads 69/100 on livability (#187 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: schools D, employment D, amenities F.
• Mitchell Community Schools (town): math 26% / reading 37% proficiency, ranked #230 of 301 in IN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 62 active listings in the ZIP; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($809 loan paydown + $720 appreciation (0.6% local appreciation)).
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $25k; list at $117k implies a 368% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $102,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.13% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.55%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (median comp): $149,500
• List price: $117,000
• Delta: -21.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
844 W Frank St	0.22mi	2/1.0	908 (+1%)	0mo	$150,000	$165	89
1211 & 1209 W Main St	0.25mi	2/1.0	867 (-4%)	1mo	$145,000	$167	81
1215 W Warren St	0.23mi	2/1.0	858 (-5%)	1mo	$150,000	$175	80
507 W Oak St	0.36mi	2/1.0	912 (+1%)	6mo	$121,000	$133	76
512 W Mississippi Ave	0.37mi	2/1.0	852 (-6%)	2mo	$122,000	$143	72
455 S 9th St	0.41mi	2/1.0	900 (-0%)	11mo	$167,500	$186	71
910 W Oak St	0.14mi	2/1.0	1,024 (+13%)	1mo	$149,000	$146	71
625 S 8th St	0.59mi	2/1.0	912 (+1%)	6mo	$145,000	$159	65
604 Crawford St	0.58mi	2/1.0	856 (-5%)	1mo	$164,900	$193	64
1134 N Marion St	0.59mi	2/1.0	863 (-4%)	2mo	$147,000	$170	63
1330 W Crandall St	0.54mi	2/1.0	840 (-7%)	4mo	$135,000	$161	60
201 W Main St	0.57mi	1/1.0 (-1)	884 (-2%)	8mo	$125,000	$141	58

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

Projected returns pro-forma

0.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.33×
• Total profit: $10,700
• Equity at exit: $37,620

10-year hold

• IRR: 11.1%
• Equity multiple: 2.30×
• Total profit: $42,584
• Equity at exit: $48,244

Cash invested: $32,760 (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 47446

• Home prices YoY: 0.2%
• Active inventory: 62
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,319 medium
• Mortgage (P&I): −$614
• Tax est. 1.5%: −$146 /mo · $1,755/yr
• Insurance: −$49
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $167

Break-even live

Break-even rent $1,108

Max offer price $117,000

Occupancy floor 82%

Sensitivity live

Price	-10% $248	-5% $207	+0% $167	+5% $127	+10% $86
Rent	-10% $63	-5% $115	+0% $167	+5% $219	+10% $271
Rate	-1.0pp $226	-0.5pp $197	base $167	+0.5pp $137	+1.0pp $106

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: $29,250
• Closing costs: $3,510
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $117,000 Active 181 DOM
2. 2026-06-19
   days on market $117,000 Active 179 DOM
3. 2026-06-18
   days on market $117,000 Active 178 DOM
4. 2026-06-17
   days on market $117,000 Active 177 DOM
5. 2026-06-16
   days on market $117,000 Active 176 DOM
6. 2026-06-15
   days on market $117,000 Active 175 DOM
7. 2026-06-14
   days on market $117,000 Active 173 DOM
8. 2026-06-12
   days on market $117,000 Active 172 DOM
9. 2026-06-09
   days on market $117,000 Active 169 DOM
10. 2026-06-08
    days on market $117,000 Active 168 DOM
11. 2026-06-07
    days on market $117,000 Active 167 DOM
12. 2026-06-05
    days on market $117,000 Active 165 DOM
13. 2026-06-03
    days on market $117,000 Active 163 DOM
14. 2026-06-02
    days on market $117,000 Active 162 DOM
15. 2026-06-01
    days on market $117,000 Active 161 DOM
16. 2026-05-31
    days on market $117,000 Active 160 DOM
17. 2026-05-30
    days on market $117,000 Active 159 DOM
18. 2026-05-17
    status Active 428-char remark

    Show marketing remark (428 chars)

    Welcome to this charming and affordable 2 bedroom! This home offers a covered front porch, spacious rooms, and kitchen complete with appliances. Outside you will enjoy evenings relaxing on the patio in your private back yard. And last but not least there is a extra large shed at the back of the property great for all of your storage needs. Don't miss out on the chance to call this your own! Owner Selling "as is. "

19. 2026-05-06
    historical Active Under Contract 428-char remark

    Show marketing remark (428 chars)

    Welcome to this charming and affordable 2 bedroom! This home offers a covered front porch, spacious rooms, and kitchen complete with appliances. Outside you will enjoy evenings relaxing on the patio in your private back yard. And last but not least there is a extra large shed at the back of the property great for all of your storage needs. Don't miss out on the chance to call this your own! Owner Selling "as is. "

20. 2026-04-07
    price $117,000 428-char remark

    Show marketing remark (428 chars)

    Welcome to this charming and affordable 2 bedroom! This home offers a covered front porch, spacious rooms, and kitchen complete with appliances. Outside you will enjoy evenings relaxing on the patio in your private back yard. And last but not least there is a extra large shed at the back of the property great for all of your storage needs. Don't miss out on the chance to call this your own! Owner Selling "as is. "

21. 2025-12-22
    listed $120,000 Active 428-char remark

    Show marketing remark (428 chars)

    Welcome to this charming and affordable 2 bedroom! This home offers a covered front porch, spacious rooms, and kitchen complete with appliances. Outside you will enjoy evenings relaxing on the patio in your private back yard. And last but not least there is a extra large shed at the back of the property great for all of your storage needs. Don't miss out on the chance to call this your own! Owner Selling "as is. "

22. 2021-04-23
    listed $75,000
23. 2020-05-28
    listed $64,900
24. 2019-07-16
    soldstatus $25,000
25. 2019-07-10
    soldstatus $25,000
26. 2018-05-22
    listed $30,000
27. 2016-08-26
    soldstatus $15,000

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°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: $15,828
• − Mortgage interest: −$6,554
• − Property taxes: −$1,755
• − Insurance: −$1,382
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − Depreciation: −$3,404
• Taxable income: $200
• Est. tax owed @ 24.0%: −$48
• After-tax cash flow: $1,956/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: Mitchell Community Schools
• NCES district ID: 1806900
• Math proficiency: 26% ▼ -16.00%
• Reading proficiency: 37% ▼ -10.00%
• Median HH income: $43,994
• Composite: 26.83/100
• National rank: #7113
• State rank: #230 of 301 in IN

Livability — Mitchell

• Score: 69/100
• State rank: #187
• US rank: #8606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mitchell, IN
• Population (ZIP): 9,259

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 44,347 people
• By 2030: 43,331 · -2.3%
• By 2040: 40,887 · -7.8%
• By 2050: 38,297 · -13.6%
• By 2075: 32,479 · -26.8%
• By 2100: 26,051 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Asian 2% Hispanic / Latino 1%
• Common ancestry: Italian 3% Slovak 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Other Indo-European 2% Spanish 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+51.0) · D 23.6% · R 74.6% · Other 1.7%
• 2008→2024 swing: -30.5pp toward R · 2008: -20.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.6 2016: R+51.5 2012: R+32.8 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.62%
• Current HPI: 248.9604
• 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

+680.0% since first listed

10 events — show timeline

• 2026-05-17 Relisted — IRMLS
• 2026-05-06 Contingent — IRMLS
• 2026-04-07 Price Changed $117,000 IRMLS
• 2025-12-22 Listed $120,000 IRMLS
• 2021-04-23 Listed $75,000 IRMLS
• 2020-05-28 Listed $64,900 IRMLS
• 2019-07-16 Sold (Public Records) $25,000 Public Records
• 2019-07-10 Sold (MLS) $25,000 IRMLS
• 2018-05-22 Listed $30,000 IRMLS
• 2016-08-26 Sold (Public Records) $15,000 Public Records

Property tax history

-23.8%/yr

Latest (2025): $60 · +0.0% YoY. Source: county tax records.