413 S Range St

Wolcott, IN 47995

$80,000B+

3 bd · 1.0 ba · 1,897 sqft · Built 1900 · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,272/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$118
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $467/mo
• Annual: $5,600/yr
• Cap rate: 13.29%
• Cash-on-cash: 25.00%
• DSCR: 2.11
• 1% rule: 1.59%
• Cash to close: $22,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $467 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $6k of equity ($553 loan paydown + $5k appreciation (6.8% local appreciation)).
• Location reads 70/100 on livability (#168 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Tri-County School Corporation (rural): math 36% / reading 42% proficiency, ranked #146 of 301 in IN (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 47 units permitted in White County in 2024 (0 in 5+ unit buildings).
• White County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.