7751 Bullerdick Rd · Poland, IN 47868

$79,000

4 bd · 2.0 ba · 2,108 sqft · SingleFamily public records · 248 Days on market

Built 1977 0.52 ac lot $37/sqft · 70% below area

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

Listing remarks MLS

One level on half of the home, 2 story on other half. Most of the bedrooms are upstairs. Baseboard heat. Large master bedroom ensuite.

Key facts

• 0.52 acre lot
• Built 1977
• Listed 247 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/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: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Cloverdale Community Schools (rural): math 36% / reading 40% proficiency, ranked #167 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cloverdale Elementary School (math 42% / reading 37%, grade F, #500 of 994 statewide, top 53%, 424 students, 75% FRL); Cloverdale Middle School (math 33% / reading 37%, grade F, #164 of 330 statewide, top 50%, 299 students, 70% FRL); Cloverdale High School (math 37% / reading 62%, grade D, #123 of 369 statewide, top 36%, 279 students, 56% FRL) — zoned schools average 67% FRL vs 50% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 29 active listings in the ZIP; 120 units permitted in Owen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($546 loan paydown + $8k appreciation (10.0% local appreciation)).
• Owen County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 248 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 248 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 1977 — 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. 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.
6. 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.
7. 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: 1.74% ✓
• Cap rate: 14.50%
• Cash-on-cash: 29.29%
• DSCR: 2.30
• GRM: 4.8

CMA / ARV

• ARV (median comp): $259,555
• List price: $79,000
• Delta: -69.56%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.5%
• Equity multiple: 4.50×
• Total profit: $77,439
• Equity at exit: $71,169

10-year hold

• IRR: 40.4%
• Equity multiple: 10.09×
• Total profit: $201,042
• Equity at exit: $153,480

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 47868

• Home prices YoY: 9.8%
• Active inventory: 29
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,376 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$100 /mo · $1,196/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $540

Break-even live

Break-even rent $692

Max offer price $79,000

Occupancy floor 56%

Sensitivity live

Price	-10% $585	-5% $562	+0% $540	+5% $518	+10% $495
Rent	-10% $431	-5% $486	+0% $540	+5% $594	+10% $649
Rate	-1.0pp $580	-0.5pp $560	base $540	+0.5pp $520	+1.0pp $499

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 18 events

1. 2026-06-21
   days on market $79,000 Active 248 DOM
2. 2026-06-18
   days on market $79,000 Active 245 DOM
3. 2026-06-17
   days on market $79,000 Active 244 DOM
4. 2026-06-16
   days on market $79,000 Active 243 DOM
5. 2026-06-15
   days on market $79,000 Active 242 DOM
6. 2026-06-13
   days on market $79,000 Active 240 DOM
7. 2026-06-09
   days on market $79,000 Active 236 DOM
8. 2026-06-08
   days on market $79,000 Active 235 DOM
9. 2026-06-07
   days on market $79,000 Active 234 DOM
10. 2026-06-03
    days on market $79,000 Active 230 DOM
11. 2026-06-02
    days on market $79,000 Active 229 DOM
12. 2026-06-01
    days on market $79,000 Active 228 DOM
13. 2026-05-31
    days on market $79,000 Active 227 DOM
14. 2025-10-17
    listed $79,000 Active 134-char remark

    Show marketing remark (134 chars)

    One level on half of the home, 2 story on other half. Most of the bedrooms are upstairs. Baseboard heat. Large master bedroom ensuite.

15. 2014-12-03
    historical
16. 2014-10-23
    historical
17. 2014-10-22
    listed $31,000
18. 2014-08-11
    listed $36,500

ⓘ 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: $1,196 · $100/mo
• Projected year-2 tax: $1,196 · $100/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°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: $16,509
• − Mortgage interest: −$4,425
• − Property taxes: −$1,196
• − Insurance: −$395
• − Repairs & maintenance: −$1,321
• − Management: −$1,321
• − Depreciation: −$2,298
• Taxable income: $5,553
• Est. tax owed @ 24.0%: −$1,333
• After-tax cash flow: $5,147/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: Cloverdale Community Schools
• NCES district ID: 1802220
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 40% ▼ -14.00%
• Median HH income: $44,267
• Composite: 32.28/100
• National rank: #5753
• State rank: #167 of 301 in IN

Livability — Poland

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

Census & demographics

• Population (ZIP): 2,870

Population outlook (Owen County) Hauer SSP2

• Today (2025): 19,045 people
• By 2030: 17,930 · -5.9%
• By 2040: 15,507 · -18.6%
• By 2050: 13,253 · -30.4%
• By 2075: 9,364 · -50.8%
• By 2100: 6,686 · -64.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 3% Two or more races 1%
• Common ancestry: Iranian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Owen

• 2024 margin: Solid R (+50.7) · D 23.8% · R 74.5% · Other 1.6%
• 2008→2024 swing: -40.3pp toward R · 2008: -10.3pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+49.1 2016: R+49.4 2012: R+27.6 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.99%
• Current HPI: 246.3509
• 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

+116.4% since first listed

5 events — show timeline

• 2025-10-17 Listed $79,000 IRMLS
• 2014-12-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-10-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-10-22 Listed $31,000 MIBOR as Distributed by MLS Grid
• 2014-08-11 Listed $36,500 MIBOR as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2024): $1,196 · -8.6% YoY. Source: county tax records.