4974 E US Highway 40 · Straughn, IN 47387

$98,000

3 bd · 1.0 ba · 1,352 sqft · SingleFamily public records · 16 Days on market

Built 1900 0.27 ac lot Est $165k · 41% 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 +19.8/30.0
• ARV discount +15.0/15.0
• Appreciation +7.1/10.0
• DSCR +6.3/10.0
• 1% rule +6.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Check out this cozy home in Straughn. Walking in you will find a large, open spaced living room. Walking through the dining room you will come to a fully renovated kitchen featuring brand-new high-resolution countertops, sink and cabinetry. Head out back and sit on the deck to enjoy those beautiful evenings. All new carpet & vinyl throughout the home. Brand new water heater. Completely new dimensional roof with a transferable warranty. New drywall, new paint, all flooring replaced, new light fixtures, new bathroom!

Key facts

• 0.27 acre lot
• Built 1900
• Listed 15 days

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One and one-half stories
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Approximately 0.27-acre lot (about 1/4–1/2 acre)

Interior

• Kitchen: No appliances listed
• Bedrooms: Three bedrooms total — one on the main level and two on the upper level
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic access
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $97k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#419 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, employment B; Watch: health & safety C-, crime D, amenities F.
• South Henry School Corporation (rural): math 25% / reading 27% proficiency, ranked #258 of 301 in IN (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Tri Elementary School (math 37% / reading 22%, grade F, #697 of 994 statewide, top 73%, 315 students, 55% FRL); Tri Junior-Senior High School (math 19% / reading 29%, grade F, #336 of 369 statewide, top 91%, 438 students, 48% FRL) — zoned schools average 52% FRL vs 35% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 2 active listings in the ZIP; 47 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($678 loan paydown + $4k appreciation (4.1% local appreciation)).
• Henry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,530 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.12% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.12%
• DSCR: 1.23
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $164,944
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5196 Maple St	0.21mi	3/2.0	1,232 (-9%)	20mo	$149,900	$122	55

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

Projected returns pro-forma

4.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 1.92×
• Total profit: $25,190
• Equity at exit: $50,310

10-year hold

• IRR: 16.1%
• Equity multiple: 3.64×
• Total profit: $72,416
• Equity at exit: $82,786

Cash invested: $27,440 (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 47387

• Home prices YoY: 1.8%
• Active inventory: 2
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,098 medium
• Mortgage (P&I): −$514
• Tax from tax record: −$196 /mo · $2,348/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $117

Break-even live

Break-even rent $950

Max offer price $98,000

Occupancy floor 84%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-19
   days on market $98,000 Active 16 DOM
2. 2026-06-18
   days on market $98,000 Active 15 DOM
3. 2026-06-17
   days on market $98,000 Active 14 DOM
4. 2026-06-16
   days on market $98,000 Active 13 DOM
5. 2026-06-15
   days on market $98,000 Active 12 DOM
6. 2026-06-14
   days on market $98,000 Active 10 DOM
7. 2026-06-12
   days on market $98,000 Active 9 DOM
8. 2026-06-09
   days on market $98,000 Active 6 DOM
9. 2026-06-08
   days on market $98,000 Active 5 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $98,000 Active 4 DOM

ⓘ 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: $2,348 · $196/mo
• Projected year-2 tax: $2,348 · $196/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,176
• − Mortgage interest: −$5,490
• − Property taxes: −$2,348
• − Insurance: −$490
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$2,851
• Taxable loss: −$110
• Est. tax savings @ 24.0%: +$26
• After-tax cash flow: $1,431/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: South Henry School Corporation
• NCES district ID: 1810380
• Math proficiency: 25% ▼ -15.00%
• Reading proficiency: 27% ▼ -14.00%
• Median HH income: $47,772
• Composite: 22.67/100
• National rank: #8045
• State rank: #258 of 301 in IN

Livability — Straughn

• Score: 63/100
• State rank: #419
• US rank: #15183

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Straughn, IN
• Population (ZIP): 461

Population outlook (Henry County) Hauer SSP2

• Today (2025): 48,028 people
• By 2030: 47,125 · -1.9%
• By 2040: 44,820 · -6.7%
• By 2050: 42,207 · -12.1%
• By 2075: 35,814 · -25.4%
• By 2100: 26,779 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Serbian 3%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+47.7) · D 25.3% · R 73.0% · Other 1.7%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.9pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.2 2016: R+43.7 2012: R+17.0 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.11%
• Current HPI: 228.2191
• 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

+106.6% since first listed

11 events — show timeline

• 2026-06-03 Listed $98,000 MIBOR as Distributed by MLS Grid
• 2022-08-26 Sold (MLS) $125,000 IRMLS
• 2022-08-25 Sold (MLS) $125,000 MIBOR as Distributed by MLS Grid
• 2022-07-25 Pending — IRMLS
• 2022-07-25 Pending — MIBOR as Distributed by MLS Grid
• 2022-07-22 Listed $119,405 MIBOR as Distributed by MLS Grid
• 2022-07-22 Listed $119,405 IRMLS
• 2022-04-19 Sold (MLS) $33,000 IRMLS
• 2022-04-19 Sold (MLS) $33,000 MIBOR as Distributed by MLS Grid
• 2022-03-25 Listed $47,425 MIBOR as Distributed by MLS Grid
• 2022-03-25 Listed $47,425 IRMLS

Property tax history

+5.4%/yr

Latest (2024): $2,348 · +11.6% YoY. Source: county tax records.