210 Elm St · East Germantown, IN 47370

$25,000

3 bd · 1.5 ba · 1,290 sqft · SingleFamily public records · 16 Days on market

Built 1964 0.53 ac lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Livability +3.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

So many new updates to appreciate in this three bedroom ranch home! This home sits on a lovely half acre lot in a great location. Brand new metal roof with stone exterior means low maintenance living. Just inside the front door is a living room with refinished, original hardwood floors. The kitchen is brand new with modern cabinetry. Adjoining the kitchen is a large dining area, as well as a patio door with access to the large deck. Down the hallway are three bedrooms and two full bathrooms. The hall bathroom is brand new and has a custom shower spa. The master suite includes his and her closets and an en-suite with beautifully tiled shower. Other updates in this home include paint, light fixtures, electrical, plumbing, a water purification system, and more.

Key facts

• Newer electric
• Rear deck
• 0.53 acre lot

Tags

• ATTACHED 1 CAR GARAGE
• REAR DECK
• PARTIAL CHAIN LINK FENCE
• CUL-DA-SAC NEIGHBORHOOD
• NEWER ELECTRIC
• HI-EFFICIENCY FURNACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $726 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#496 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime D+.
• Western Wayne Schools (town): math 25% / reading 41% proficiency, ranked #215 of 301 in IN (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Western Wayne Elementary School (math 27% / reading 42%, grade F, #597 of 994 statewide, top 63%, 347 students, 57% FRL).
• Market conditions: 2 active listings in the ZIP; 38 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $923 of equity ($173 loan paydown + $750 appreciation (3.0% local appreciation)).
• Wayne County population projected at -21% 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $165k (87%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $24,625 (1.5% below list)

Questions for the listing agent

1. Built in 1964 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.45% ✓
• Cap rate: 41.15%
• Cash-on-cash: 124.48%
• DSCR: 6.54
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $92,880
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 Main St	0.29mi	3/1.0	1,456 (+13%)	14mo	$105,000	$72	52

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: —
• Equity multiple: 8.04×
• Total profit: $49,265
• Equity at exit: $11,241

10-year hold

• IRR: —
• Equity multiple: 16.80×
• Total profit: $110,573
• Equity at exit: $17,324

Cash invested: $7,000 (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 47370

• Active inventory: 2
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,113 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$12 /mo · $142/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $726

Break-even live

Break-even rent $194

Max offer price $25,000

Occupancy floor 30%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2025-09-29
   soldstatus $185,000 Closed 768-char remark

   Show marketing remark (768 chars)

   So many new updates to appreciate in this three bedroom ranch home! This home sits on a lovely half acre lot in a great location. Brand new metal roof with stone exterior means low maintenance living. Just inside the front door is a living room with refinished, original hardwood floors. The kitchen is brand new with modern cabinetry. Adjoining the kitchen is a large dining area, as well as a patio door with access to the large deck. Down the hallway are three bedrooms and two full bathrooms. The hall bathroom is brand new and has a custom shower spa. The master suite includes his and her closets and an en-suite with beautifully tiled shower. Other updates in this home include paint, light fixtures, electrical, plumbing, a water purification system, and more.

2. 2025-09-29
   soldstatus $185,000 Closed 768-char remark

   Show marketing remark (768 chars)

   So many new updates to appreciate in this three bedroom ranch home! This home sits on a lovely half acre lot in a great location. Brand new metal roof with stone exterior means low maintenance living. Just inside the front door is a living room with refinished, original hardwood floors. The kitchen is brand new with modern cabinetry. Adjoining the kitchen is a large dining area, as well as a patio door with access to the large deck. Down the hallway are three bedrooms and two full bathrooms. The hall bathroom is brand new and has a custom shower spa. The master suite includes his and her closets and an en-suite with beautifully tiled shower. Other updates in this home include paint, light fixtures, electrical, plumbing, a water purification system, and more.

3. 2025-09-03
   status Pending 768-char remark

   Show marketing remark (768 chars)

   So many new updates to appreciate in this three bedroom ranch home! This home sits on a lovely half acre lot in a great location. Brand new metal roof with stone exterior means low maintenance living. Just inside the front door is a living room with refinished, original hardwood floors. The kitchen is brand new with modern cabinetry. Adjoining the kitchen is a large dining area, as well as a patio door with access to the large deck. Down the hallway are three bedrooms and two full bathrooms. The hall bathroom is brand new and has a custom shower spa. The master suite includes his and her closets and an en-suite with beautifully tiled shower. Other updates in this home include paint, light fixtures, electrical, plumbing, a water purification system, and more.

4. 2025-09-03
   status Pending 768-char remark

   Show marketing remark (768 chars)

   So many new updates to appreciate in this three bedroom ranch home! This home sits on a lovely half acre lot in a great location. Brand new metal roof with stone exterior means low maintenance living. Just inside the front door is a living room with refinished, original hardwood floors. The kitchen is brand new with modern cabinetry. Adjoining the kitchen is a large dining area, as well as a patio door with access to the large deck. Down the hallway are three bedrooms and two full bathrooms. The hall bathroom is brand new and has a custom shower spa. The master suite includes his and her closets and an en-suite with beautifully tiled shower. Other updates in this home include paint, light fixtures, electrical, plumbing, a water purification system, and more.

5. 2025-09-02
   listed $189,900 Active 768-char remark

   Show marketing remark (768 chars)

   So many new updates to appreciate in this three bedroom ranch home! This home sits on a lovely half acre lot in a great location. Brand new metal roof with stone exterior means low maintenance living. Just inside the front door is a living room with refinished, original hardwood floors. The kitchen is brand new with modern cabinetry. Adjoining the kitchen is a large dining area, as well as a patio door with access to the large deck. Down the hallway are three bedrooms and two full bathrooms. The hall bathroom is brand new and has a custom shower spa. The master suite includes his and her closets and an en-suite with beautifully tiled shower. Other updates in this home include paint, light fixtures, electrical, plumbing, a water purification system, and more.

6. 2025-09-02
   listed $189,900 Active 768-char remark

   Show marketing remark (768 chars)

   So many new updates to appreciate in this three bedroom ranch home! This home sits on a lovely half acre lot in a great location. Brand new metal roof with stone exterior means low maintenance living. Just inside the front door is a living room with refinished, original hardwood floors. The kitchen is brand new with modern cabinetry. Adjoining the kitchen is a large dining area, as well as a patio door with access to the large deck. Down the hallway are three bedrooms and two full bathrooms. The hall bathroom is brand new and has a custom shower spa. The master suite includes his and her closets and an en-suite with beautifully tiled shower. Other updates in this home include paint, light fixtures, electrical, plumbing, a water purification system, and more.

7. 2025-04-03
   status Pending
8. 2025-03-17
   listed $25,000 Active

ⓘ 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: $142 · $12/mo
• Projected year-2 tax: $177 · $15/mo
• Expected delta: +$35/yr (+$3/mo · 24.8%)

ⓘ 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 ≥100°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: $13,359
• − Mortgage interest: −$1,400
• − Property taxes: −$142
• − Insurance: −$125
• − Repairs & maintenance: −$1,069
• − Management: −$1,069
• − Depreciation: −$727
• Taxable income: $8,827
• Est. tax owed @ 24.0%: −$2,119
• After-tax cash flow: $6,595/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: Western Wayne Schools
• NCES district ID: 1813050
• Math proficiency: 25% ▼ -1.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $40,067
• Composite: 27.68/100
• National rank: #6913
• State rank: #215 of 301 in IN

Livability — East Germantown

• Score: 61/100
• State rank: #496
• US rank: #17620

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Germantown, IN
• City population: 145
• Population (ZIP): 145

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 63,316 people
• By 2030: 60,893 · -3.8%
• By 2040: 55,386 · -12.5%
• By 2050: 49,946 · -21.1%
• By 2075: 37,900 · -40.1%
• By 2100: 26,562 · -58.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Russian 1% Slovak 1%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+32.5) · D 32.9% · R 65.4% · Other 1.6%
• 2008→2024 swing: -28.6pp toward R · 2008: -3.9pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+29.1 2016: R+30.1 2012: R+14.7 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+640.0% since first listed

8 events — show timeline

• 2025-09-29 Sold (MLS) $185,000 IRMLS
• 2025-09-29 Sold (MLS) $185,000 MIBOR as Distributed by MLS Grid
• 2025-09-03 Pending — MIBOR as Distributed by MLS Grid
• 2025-09-03 Pending — IRMLS
• 2025-09-02 Listed $189,900 IRMLS
• 2025-09-02 Listed $189,900 MIBOR as Distributed by MLS Grid
• 2025-04-03 Pending — RRELMS
• 2025-03-17 Listed $25,000 RRELMS

Property tax history

-0.3%/yr

Latest (2024): $142 · -29.2% YoY. Source: county tax records.