1200 NE 3rd St · Washington, IN 47501

$149,800

3 bd · 1.0 ba · 1,284 sqft · SingleFamily public records · 17 Days on market

Built 1960 6,970 sqft lot Est $158k · 5% under

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Why this score? — see what drove the C 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 +23.6/30.0
• ARV discount +9.8/15.0
• DSCR +7.6/10.0
• 1% rule +5.6/10.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated 1,248sqft 4BR, 2Bth with detached garage, IU room and appliances.

Key facts

• City utilities
• Newer roof
• No hoa

Tags

• NEWER ROOF
• DETACHED 2-CAR GARAGE
• SOLID SLAB FOUNDATION
• CITY UTILITIES
• NO HOA
• GREAT WASHINGTON LOCATION

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding with asphalt (shingle) components; Slab foundation; Built as site-built construction
• Exterior features: Level lot; Shed(s) on the property; Lot dimensions approximately 60 x 115

Interior

• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Six total rooms; Main-level laundry
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.9% in Washington — 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 72/100 on livability (#110 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Washington Community Schools (town): math 36% / reading 38% proficiency, ranked #174 of 301 in IN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Upper Elementary (math 44% / reading 43%, grade D, #90 of 330 statewide, top 27%, 361 students, 62% FRL); Washington High School (math 27% / reading 57%, grade F, #197 of 369 statewide, top 57%, 780 students, 58% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 112 active listings in the ZIP; 71 units permitted in Daviess County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $116k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,553 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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: 1.06% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.09%
• DSCR: 1.36
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $157,932
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
514 N Meridian St	0.41mi	3/1.5	1,258 (-2%)	1mo	$155,000	$123	74
201 E John St	0.19mi	3/1.5	1,412 (+10%)	2mo	$61,000	$43	71
903 NE 2nd St	0.16mi	3/1.0	1,172 (-9%)	8mo	$165,000	$141	71
500 E Maple St	0.36mi	3/1.5	1,208 (-6%)	4mo	$110,000	$91	69
415 E William St	0.46mi	2/1.0 (-1)	1,211 (-6%)	2mo	$138,000	$114	63
310 N Meridian St	0.54mi	3/1.5	1,229 (-4%)	5mo	$82,000	$67	62
6 E Pearl St	0.32mi	3/2.0	1,141 (-11%)	2mo	$142,450	$125	61
307 W Flora St	0.64mi	3/2.0	1,280 (-0%)	8mo	$155,000	$121	59
107 NE 2nd St	0.65mi	2/1.0 (-1)	1,228 (-4%)	2mo	$95,000	$77	56
508 NW 3rd St	0.50mi	3/1.0	1,120 (-13%)	7mo	$156,000	$139	49
407 Ogdon St	0.74mi	3/2.0	1,190 (-7%)	2mo	$193,000	$162	48
701 Sunset Ave	0.49mi	2/1.0 (-1)	1,110 (-14%)	3mo	$148,000	$133	47

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: -4.0%
• Equity multiple: 0.85×
• Total profit: $-6,286
• Equity at exit: $22,336

10-year hold

• IRR: 5.7%
• Equity multiple: 1.42×
• Total profit: $17,654
• Equity at exit: $12,952

Cash invested: $41,944 (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 47501

• Home prices YoY: -23.2%
• Active inventory: 112
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,593 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$128 /mo · $1,534/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $283

Break-even live

Break-even rent $1,235

Max offer price $149,800

Occupancy floor 77%

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: $37,450
• Closing costs: $4,494
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-08
   days on market $149,800 Active 17 DOM
2. 2026-06-07
   days on market $149,800 Active 16 DOM
3. 2026-06-07
   pricedays on market $149,800 Active 15 DOM
4. 2026-06-04
   days on market $149,900 Active 12 DOM
5. 2026-06-02
   days on market $149,900 Active 11 DOM
6. 2026-06-01
   price $149,900 Active 10 DOM
7. 2026-06-01
   days on market $159,999 Active 10 DOM
8. 2026-05-31
   days on market $159,999 Active 9 DOM
9. 2026-05-31
   days on market $159,999 Active 8 DOM
10. 2026-05-22
    listed $159,999 Active
11. 2014-11-13
    soldstatus $115,500 85-char remark

    Show marketing remark (85 chars)

    Beautifully updated 1,248sqft 4BR, 2Bth with detached garage, IU room and appliances.

12. 2013-09-24
    listed $116,900 85-char remark

    Show marketing remark (85 chars)

    Beautifully updated 1,248sqft 4BR, 2Bth with detached garage, IU room and appliances.

13. 2012-05-01
    soldstatus $114,000

ⓘ 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: $1,534 · $128/mo
• Projected year-2 tax: $1,534 · $128/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 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,116
• − Mortgage interest: −$8,391
• − Property taxes: −$1,534
• − Insurance: −$749
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$4,358
• Taxable income: $1,025
• Est. tax owed @ 24.0%: −$246
• After-tax cash flow: $3,145/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: Washington Community Schools
• NCES district ID: 1812450
• Math proficiency: 36% ▼ -1.00%
• Reading proficiency: 38% ▼ -3.00%
• Median HH income: $45,422
• Composite: 31.57/100
• National rank: #5952
• State rank: #174 of 301 in IN

Livability — Washington

• Score: 72/100
• State rank: #110
• US rank: #5706

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington, IN
• City population: 18,335
• Population (ZIP): 18,335

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 33,940 people
• By 2030: 34,457 · +1.5%
• By 2040: 35,412 · +4.3%
• By 2050: 35,803 · +5.5%
• By 2075: 35,173 · +3.6%
• By 2100: 29,799 · -12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Two or more races 8% Black 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Hispanic 4% Lithuanian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 5% French/Haitian/Cajun 3% German/W. Germanic 1%

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+64.3) · D 17.1% · R 81.5% · Other 1.4%
• 2008→2024 swing: -29.1pp toward R · 2008: -35.2pp · 2024: -64.3pp
• All cycles: 2024: R+64.3 2020: R+62.0 2016: R+62.8 2012: R+50.8 2008: R+35.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.30%
• Current HPI: 213.3049
• 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

+40.4% since first listed

4 events — show timeline

• 2026-05-22 Listed $159,999 IRMLS
• 2014-11-13 Sold (MLS) $115,500 IRMLS
• 2013-09-24 Listed $116,900 IRMLS
• 2012-05-01 Sold (Public Records) $114,000 Public Records

Property tax history

+8.5%/yr

Latest (2024): $1,534 · +4.0% YoY. Source: county tax records.