710 N Matheson Ave · Rensselaer, IN 47978

$89,900

3 bd · 2.0 ba · 1,104 sqft · SingleFamily public records · 105 Days on market

Built 1910 7,405 sqft lot $81/sqft · 45% below area Est $164k · 45% under ↓ 25% since listing

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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 +28.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Last sold in 2021 for 126K this home closed and passed USDA inspection and financing but this is a BARGAIN priced home now . .. granted, it has gone through quite a bit of neglect so cleaning and maintenance is certainly needed and therefore priced and being sold AS IS but was Occupied up until 9/2025 and appears all systems were functioning when vacated but since in September has been winterized, shut down and secured. There is also an unfinished loft area for added sf or storage. Seller will not make any repairs or post home inspection or for financing/appraisal. Utilities are not on and no alterations of the home will be allowed to be made prior to closing. To test plumbing one can have a plumber pressure test but utility activation will not be completed by the seller so Buyers are encouraged to contact Rensselaer Utilities regarding water/sewer/gas & electric. Ask an agent for details on the REO process. Once an Indiana board contract with POF and/or Approval are reviewed and terms are conditionally accepted online by the sellers asset manager a full REO addendum will be sent for client signatures before a complete contract is deemed accepted. REO property and disclosures are not applicable, Agent Instructions are online with a link to offer site and terms. Some additional notes from the sale in 2021 state: "It has new wiring and plumbing in 2005. New windows in 2005. New Siding in 2012 which included tyvek wrap and fan fold insulation. It has a pellet stove that runs off a thermostat. .. . new carpeting and a new roof. It has a 9ft. X 15ft. metal shed with 5.5ft x 6.5 ft Door. " ALL PURCHASERS ARE WELCOME - Owner & Investors ready for immediate bidding!

Key facts

• New plumbing
• New wiring
• New siding

Tags

• UNFINISHED LOFT AREA
• NEW WIRING
• NEW PLUMBING
• NEW WINDOWS
• NEW SIDING
• PELLET STOVE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.6% in Rensselaer — 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 70/100 on livability (#145 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B; Watch: employment C-, schools D-, amenities F.
• Rensselaer Central School Corporation (town): math 45% / reading 53% proficiency, ranked #63 of 301 in IN (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 80 active listings in the ZIP; 93 units permitted in Jasper County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jasper County population projected at -11% 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 $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $40k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.19% ✓
• Cap rate: 10.18%
• Cash-on-cash: 13.88%
• DSCR: 1.62
• GRM: 7.0

CMA / ARV

• ARV (median comp): $163,739
• List price: $89,900
• Delta: -45.10%
• 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
710 N Matheson Ave	0.00mi	2/1.5 (-1)	1,104 (0%)	0mo	$80,000	$72	93
916 W Monnett St	0.64mi	3/2.0	1,170 (+6%)	0mo	$182,000	$156	60
1023 N Cullen St	0.48mi	3/1.0	1,050 (-5%)	9mo	$120,000	$114	58
123 S Frances St	0.57mi	3/1.5	1,170 (+6%)	11mo	$214,900	$184	53
921 W Grove St	0.61mi	3/1.5	1,120 (+1%)	20mo	$180,000	$161	50
529 N Weston St	0.48mi	3/1.0	950 (-14%)	1mo	$60,501	$64	50
820 W Monnett St	0.64mi	3/2.0	1,180 (+7%)	11mo	$224,900	$191	50
870 W Bunkum Rd	0.62mi	3/1.5	1,008 (-9%)	7mo	$219,900	$218	49
506 E Elm St	0.75mi	3/1.0	1,168 (+6%)	4mo	$90,000	$77	48
424 E Elm St	0.70mi	3/1.0	1,168 (+6%)	14mo	$70,000	$60	42
903 W Grove St	0.61mi	2/1.0 (-1)	972 (-12%)	3mo	$195,000	$201	40
422 E Vine St	0.69mi	3/1.0	1,256 (+14%)	22mo	$61,900	$49	22

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: 4.1%
• Equity multiple: 1.16×
• Total profit: $3,944
• Equity at exit: $13,404

10-year hold

• IRR: 13.5%
• Equity multiple: 2.08×
• Total profit: $27,196
• Equity at exit: $7,773

Cash invested: $25,172 (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 47978

• Home prices YoY: -15.4%
• Active inventory: 80
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,066 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$42 /mo · $509/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $291

Break-even live

Break-even rent $698

Max offer price $89,900

Occupancy floor 68%

Sensitivity live

Price	-10% $342	-5% $317	+0% $291	+5% $266	+10% $240
Rent	-10% $207	-5% $249	+0% $291	+5% $333	+10% $375
Rate	-1.0pp $336	-0.5pp $314	base $291	+0.5pp $268	+1.0pp $244

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-11
   status Pending 1708-char remark

   Show marketing remark (1708 chars)

   Last sold in 2021 for 126K this home closed and passed USDA inspection and financing but this is a BARGAIN priced home now . .. granted, it has gone through quite a bit of neglect so cleaning and maintenance is certainly needed and therefore priced and being sold AS IS but was Occupied up until 9/2025 and appears all systems were functioning when vacated but since in September has been winterized, shut down and secured. There is also an unfinished loft area for added sf or storage. Seller will not make any repairs or post home inspection or for financing/appraisal. Utilities are not on and no alterations of the home will be allowed to be made prior to closing. To test plumbing one can have a plumber pressure test but utility activation will not be completed by the seller so Buyers are encouraged to contact Rensselaer Utilities regarding water/sewer/gas & electric. Ask an agent for details on the REO process. Once an Indiana board contract with POF and/or Approval are reviewed and terms are conditionally accepted online by the sellers asset manager a full REO addendum will be sent for client signatures before a complete contract is deemed accepted. REO property and disclosures are not applicable, Agent Instructions are online with a link to offer site and terms. Some additional notes from the sale in 2021 state: "It has new wiring and plumbing in 2005. New windows in 2005. New Siding in 2012 which included tyvek wrap and fan fold insulation. It has a pellet stove that runs off a thermostat. .. . new carpeting and a new roof. It has a 9ft. X 15ft. metal shed with 5.5ft x 6.5 ft Door. " ALL PURCHASERS ARE WELCOME - Owner & Investors ready for immediate bidding!

2. 2026-05-04
   price $89,900 1708-char remark

   Show marketing remark (1708 chars)

   Last sold in 2021 for 126K this home closed and passed USDA inspection and financing but this is a BARGAIN priced home now . .. granted, it has gone through quite a bit of neglect so cleaning and maintenance is certainly needed and therefore priced and being sold AS IS but was Occupied up until 9/2025 and appears all systems were functioning when vacated but since in September has been winterized, shut down and secured. There is also an unfinished loft area for added sf or storage. Seller will not make any repairs or post home inspection or for financing/appraisal. Utilities are not on and no alterations of the home will be allowed to be made prior to closing. To test plumbing one can have a plumber pressure test but utility activation will not be completed by the seller so Buyers are encouraged to contact Rensselaer Utilities regarding water/sewer/gas & electric. Ask an agent for details on the REO process. Once an Indiana board contract with POF and/or Approval are reviewed and terms are conditionally accepted online by the sellers asset manager a full REO addendum will be sent for client signatures before a complete contract is deemed accepted. REO property and disclosures are not applicable, Agent Instructions are online with a link to offer site and terms. Some additional notes from the sale in 2021 state: "It has new wiring and plumbing in 2005. New windows in 2005. New Siding in 2012 which included tyvek wrap and fan fold insulation. It has a pellet stove that runs off a thermostat. .. . new carpeting and a new roof. It has a 9ft. X 15ft. metal shed with 5.5ft x 6.5 ft Door. " ALL PURCHASERS ARE WELCOME - Owner & Investors ready for immediate bidding!

3. 2026-04-02
   price $95,000 1708-char remark

   Show marketing remark (1708 chars)

   Last sold in 2021 for 126K this home closed and passed USDA inspection and financing but this is a BARGAIN priced home now . .. granted, it has gone through quite a bit of neglect so cleaning and maintenance is certainly needed and therefore priced and being sold AS IS but was Occupied up until 9/2025 and appears all systems were functioning when vacated but since in September has been winterized, shut down and secured. There is also an unfinished loft area for added sf or storage. Seller will not make any repairs or post home inspection or for financing/appraisal. Utilities are not on and no alterations of the home will be allowed to be made prior to closing. To test plumbing one can have a plumber pressure test but utility activation will not be completed by the seller so Buyers are encouraged to contact Rensselaer Utilities regarding water/sewer/gas & electric. Ask an agent for details on the REO process. Once an Indiana board contract with POF and/or Approval are reviewed and terms are conditionally accepted online by the sellers asset manager a full REO addendum will be sent for client signatures before a complete contract is deemed accepted. REO property and disclosures are not applicable, Agent Instructions are online with a link to offer site and terms. Some additional notes from the sale in 2021 state: "It has new wiring and plumbing in 2005. New windows in 2005. New Siding in 2012 which included tyvek wrap and fan fold insulation. It has a pellet stove that runs off a thermostat. .. . new carpeting and a new roof. It has a 9ft. X 15ft. metal shed with 5.5ft x 6.5 ft Door. " ALL PURCHASERS ARE WELCOME - Owner & Investors ready for immediate bidding!

4. 2026-03-26
   price $109,900 1708-char remark

   Show marketing remark (1708 chars)

   Last sold in 2021 for 126K this home closed and passed USDA inspection and financing but this is a BARGAIN priced home now . .. granted, it has gone through quite a bit of neglect so cleaning and maintenance is certainly needed and therefore priced and being sold AS IS but was Occupied up until 9/2025 and appears all systems were functioning when vacated but since in September has been winterized, shut down and secured. There is also an unfinished loft area for added sf or storage. Seller will not make any repairs or post home inspection or for financing/appraisal. Utilities are not on and no alterations of the home will be allowed to be made prior to closing. To test plumbing one can have a plumber pressure test but utility activation will not be completed by the seller so Buyers are encouraged to contact Rensselaer Utilities regarding water/sewer/gas & electric. Ask an agent for details on the REO process. Once an Indiana board contract with POF and/or Approval are reviewed and terms are conditionally accepted online by the sellers asset manager a full REO addendum will be sent for client signatures before a complete contract is deemed accepted. REO property and disclosures are not applicable, Agent Instructions are online with a link to offer site and terms. Some additional notes from the sale in 2021 state: "It has new wiring and plumbing in 2005. New windows in 2005. New Siding in 2012 which included tyvek wrap and fan fold insulation. It has a pellet stove that runs off a thermostat. .. . new carpeting and a new roof. It has a 9ft. X 15ft. metal shed with 5.5ft x 6.5 ft Door. " ALL PURCHASERS ARE WELCOME - Owner & Investors ready for immediate bidding!

5. 2026-02-23
   price $119,500 1708-char remark

   Show marketing remark (1708 chars)

   Last sold in 2021 for 126K this home closed and passed USDA inspection and financing but this is a BARGAIN priced home now . .. granted, it has gone through quite a bit of neglect so cleaning and maintenance is certainly needed and therefore priced and being sold AS IS but was Occupied up until 9/2025 and appears all systems were functioning when vacated but since in September has been winterized, shut down and secured. There is also an unfinished loft area for added sf or storage. Seller will not make any repairs or post home inspection or for financing/appraisal. Utilities are not on and no alterations of the home will be allowed to be made prior to closing. To test plumbing one can have a plumber pressure test but utility activation will not be completed by the seller so Buyers are encouraged to contact Rensselaer Utilities regarding water/sewer/gas & electric. Ask an agent for details on the REO process. Once an Indiana board contract with POF and/or Approval are reviewed and terms are conditionally accepted online by the sellers asset manager a full REO addendum will be sent for client signatures before a complete contract is deemed accepted. REO property and disclosures are not applicable, Agent Instructions are online with a link to offer site and terms. Some additional notes from the sale in 2021 state: "It has new wiring and plumbing in 2005. New windows in 2005. New Siding in 2012 which included tyvek wrap and fan fold insulation. It has a pellet stove that runs off a thermostat. .. . new carpeting and a new roof. It has a 9ft. X 15ft. metal shed with 5.5ft x 6.5 ft Door. " ALL PURCHASERS ARE WELCOME - Owner & Investors ready for immediate bidding!

6. 2026-01-23
   listed $130,000 Active 1708-char remark

   Show marketing remark (1708 chars)

   Last sold in 2021 for 126K this home closed and passed USDA inspection and financing but this is a BARGAIN priced home now . .. granted, it has gone through quite a bit of neglect so cleaning and maintenance is certainly needed and therefore priced and being sold AS IS but was Occupied up until 9/2025 and appears all systems were functioning when vacated but since in September has been winterized, shut down and secured. There is also an unfinished loft area for added sf or storage. Seller will not make any repairs or post home inspection or for financing/appraisal. Utilities are not on and no alterations of the home will be allowed to be made prior to closing. To test plumbing one can have a plumber pressure test but utility activation will not be completed by the seller so Buyers are encouraged to contact Rensselaer Utilities regarding water/sewer/gas & electric. Ask an agent for details on the REO process. Once an Indiana board contract with POF and/or Approval are reviewed and terms are conditionally accepted online by the sellers asset manager a full REO addendum will be sent for client signatures before a complete contract is deemed accepted. REO property and disclosures are not applicable, Agent Instructions are online with a link to offer site and terms. Some additional notes from the sale in 2021 state: "It has new wiring and plumbing in 2005. New windows in 2005. New Siding in 2012 which included tyvek wrap and fan fold insulation. It has a pellet stove that runs off a thermostat. .. . new carpeting and a new roof. It has a 9ft. X 15ft. metal shed with 5.5ft x 6.5 ft Door. " ALL PURCHASERS ARE WELCOME - Owner & Investors ready for immediate bidding!

7. 2021-07-30
   soldstatus $126,000 465-char remark

   Show marketing remark (465 chars)

   This is a TURN KEY property that comes with a HOME WARRANTY!! You do not want to miss this one! A Great House with a Great Yard. It has new wiring and plumbing in 2005. New windows in 2005. New Siding in 2012 which included tyvek wrap and fan folding insulation. It has a pellet stove that runs off a thermostat keeping heating costs LOW! All new carpeting and a new roof. It has a 9ft. X 15ft. metal shed with 5.5ft x 6.5 ft Door. Cheaper than rent - don't delay!!

8. 2021-05-19
   listed $119,900 465-char remark

   Show marketing remark (465 chars)

   This is a TURN KEY property that comes with a HOME WARRANTY!! You do not want to miss this one! A Great House with a Great Yard. It has new wiring and plumbing in 2005. New windows in 2005. New Siding in 2012 which included tyvek wrap and fan folding insulation. It has a pellet stove that runs off a thermostat keeping heating costs LOW! All new carpeting and a new roof. It has a 9ft. X 15ft. metal shed with 5.5ft x 6.5 ft Door. Cheaper than rent - don't delay!!

ⓘ 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: $509 · $42/mo
• Projected year-2 tax: $637 · $53/mo
• Expected delta: +$127/yr (+$11/mo · 25.0%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,796
• − Mortgage interest: −$5,036
• − Property taxes: −$509
• − Insurance: −$450
• − Repairs & maintenance: −$1,024
• − Management: −$1,024
• − Depreciation: −$2,615
• Taxable income: $2,139
• Est. tax owed @ 24.0%: −$513
• After-tax cash flow: $2,979/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: Rensselaer Central School Corporation
• NCES district ID: 1809420
• Math proficiency: 45% ▲ 3.00%
• Reading proficiency: 53% ▲ 2.00%
• Median HH income: $52,359
• Composite: 42.16/100
• National rank: #3296
• State rank: #63 of 301 in IN

Livability — Rensselaer

• Score: 70/100
• State rank: #145
• US rank: #7381

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rensselaer, IN
• Population (ZIP): 10,097

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 33,185 people
• By 2030: 32,635 · -1.7%
• By 2040: 31,232 · -5.9%
• By 2050: 29,630 · -10.7%
• By 2075: 25,938 · -21.8%
• By 2100: 21,635 · -34.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 7% Black 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Romanian 5% Iranian 5% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Jasper

• 2024 margin: Solid R (+54.3) · D 22.1% · R 76.4% · Other 1.6%
• 2008→2024 swing: -33.9pp toward R · 2008: -20.4pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+49.0 2016: R+45.4 2012: R+25.5 2008: R+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.74%
• Current HPI: 239.8976
• 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

-25.0% since first listed

8 events — show timeline

• 2026-05-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-04 Price Changed $89,900 NIRA MLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $95,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $109,900 NIRA MLS as Distributed by MLS Grid
• 2026-02-23 Price Changed $119,500 NIRA MLS as Distributed by MLS Grid
• 2026-01-23 Listed $130,000 NIRA MLS as Distributed by MLS Grid
• 2021-07-30 Sold (MLS) $126,000 NIRA MLS as Distributed by MLS Grid
• 2021-05-19 Listed $119,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-0.4%/yr

Latest (2025): $509 · -11.7% YoY. Source: county tax records.