423 W Sycamore St · Boonville, IN 47601

$125,000

2 bd · 2.0 ba · 1,276 sqft · SingleFamily public records · 51 Days on market

Built 1900 2,614 sqft lot $98/sqft · 19% below area Est $155k · 19% 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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.2/10.0
• Schools +4.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Upon entering the home you are greeted by a electric fireplace with remote. The living room spans the front of the house and flows into the dining room which is adjacent to the kitchen which features white cabinetry, electric range, refrigerator, dishwasher and pantry closet. Finishing out the main level is a full bath. Ascending the stairs you will find two bedrooms with newer carpet and a full bath with a washer and dryer area. Exterior features include a spacious front porch, carport, storage shed and new wooden stairs/ramps accessing the back door. Per the current seller improvements since purchasing in 2023 include a new refrigerator, dishwasher, sink, two grounded outlets in the living room. total replacement of the back porch (deck), access ramps/steps and an exhaust vent was added for the dryer. The home is being sold as-is, where-is. Inspections are for buyers' informational purposes only.

Key facts

• Peaceful front porch
• Laundry room
• Updated kitchen

Tags

• ELECTRIC FIREPLACE
• UPDATED KITCHEN
• CONVENIENT CARPORT
• PEACEFUL FRONT PORCH
• LAUNDRY ROOM

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residential site-built home; One story
• Construction: Aluminum siding; Year built not provided
• Exterior features: Corner, level lot; Shed(s) on the property

Interior

• Bedrooms: Upper-level laundry (bedroom locations not specified)
• Bathrooms: Two full bathrooms; One bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Fireplace in the living room; Full unfinished basement
• Laundry & utility: Laundry located on the upper level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.6% in Boonville — 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 66/100 on livability (#278 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Warrick County School Corporation (suburban): math 54% / reading 59% proficiency, ranked #24 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Loge Elementary School (math 67% / reading 62%, grade B, #78 of 994 statewide, top 9%, 404 students, 54% FRL); Boonville Middle School (math 37% / reading 47%, grade D-, #102 of 330 statewide, top 32%, 700 students, 51% FRL); Boonville High School (math 32% / reading 60%, grade D-, #163 of 369 statewide, top 44%, 881 students, 44% FRL) — zoned schools average 49% FRL vs 24% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 160 active listings in the ZIP; 249 units permitted in Warrick County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Warrick County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $11k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.02% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.19%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (median comp): $155,227
• List price: $125,000
• Delta: -16.32%
• 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
613 N First St	0.28mi	2/2.0	1,228 (-4%)	1mo	$175,000	$143	80
321 E Poplar St	0.50mi	3/2.0 (+1)	1,367 (+7%)	2mo	$207,000	$151	58
613 W Walnut St	0.23mi	2/1.0	1,102 (-14%)	8mo	$169,000	$153	56
419 S Third St	0.40mi	2/1.0	1,128 (-12%)	3mo	$120,000	$106	56
317 E Locust St	0.45mi	3/2.0 (+1)	1,405 (+10%)	2mo	$113,800	$81	56
1100 Brody Ln	0.53mi	3/2.0 (+1)	1,365 (+7%)	10mo	$247,000	$181	50
715 N 2nd St	0.37mi	2/1.0	1,092 (-14%)	7mo	$127,500	$117	49
215 E Chestnut St	0.39mi	3/1.0 (+1)	1,107 (-13%)	4mo	$165,000	$149	48
1206 N Third St	0.65mi	3/2.0 (+1)	1,370 (+7%)	7mo	$210,000	$153	47
611 Liberty St	0.68mi	3/1.0 (+1)	1,205 (-6%)	6mo	$160,600	$133	45
607 N Sixth St	0.51mi	3/2.0 (+1)	1,438 (+13%)	10mo	$186,000	$129	42
812 Water St	0.69mi	3/2.0 (+1)	1,444 (+13%)	7mo	$210,000	$145	35

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-6,916
• Equity at exit: $18,638

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $11,103
• Equity at exit: $10,808

Cash invested: $35,000 (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 47601

• Active inventory: 160
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,280 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$94 /mo · $1,128/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $210

Break-even live

Break-even rent $1,015

Max offer price $125,000

Occupancy floor 79%

Sensitivity live

Price	-10% $281	-5% $245	+0% $210	+5% $174	+10% $139
Rent	-10% $109	-5% $159	+0% $210	+5% $260	+10% $311
Rate	-1.0pp $273	-0.5pp $242	base $210	+0.5pp $177	+1.0pp $144

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-22
   pricedays on market $125,000 Active 51 DOM
2. 2026-06-18
   days on market $129,900 Active 48 DOM
3. 2026-06-17
   days on market $129,900 Active 47 DOM
4. 2026-06-16
   days on market $129,900 Active 46 DOM
5. 2026-06-15
   days on market $129,900 Active 45 DOM
6. 2026-06-14
   days on market $129,900 Active 43 DOM
7. 2026-06-13
   days on market $129,900 Active 42 DOM
8. 2026-06-10
   days on market $129,900 Active 40 DOM
9. 2026-06-09
   days on market $129,900 Active 39 DOM
10. 2026-06-08
    days on market $129,900 Active 38 DOM
11. 2026-06-07
    pricedays on market $129,900 Active 37 DOM
12. 2026-06-02
    days on market $135,000 Active 32 DOM
13. 2026-06-01
    days on market $135,000 Active 31 DOM
14. 2026-05-31
    days on market $135,000 Active 30 DOM
15. 2026-05-30
    days on market $135,000 Active 29 DOM
16. 2026-05-01
    listed $136,000 Active 714-char remark
17. 2024-03-19
    soldstatus $133,000 Closed 911-char remark

    Show marketing remark (911 chars)

    Upon entering the home you are greeted by a electric fireplace with remote. The living room spans the front of the house and flows into the dining room which is adjacent to the kitchen which features white cabinetry, electric range, refrigerator, dishwasher and pantry closet. Finishing out the main level is a full bath. Ascending the stairs you will find two bedrooms with newer carpet and a full bath with a washer and dryer area. Exterior features include a spacious front porch, carport, storage shed and new wooden stairs/ramps accessing the back door. Per the current seller improvements since purchasing in 2023 include a new refrigerator, dishwasher, sink, two grounded outlets in the living room. total replacement of the back porch (deck), access ramps/steps and an exhaust vent was added for the dryer. The home is being sold as-is, where-is. Inspections are for buyers' informational purposes only.

18. 2024-02-16
    status Pending 911-char remark

    Show marketing remark (911 chars)

    Upon entering the home you are greeted by a electric fireplace with remote. The living room spans the front of the house and flows into the dining room which is adjacent to the kitchen which features white cabinetry, electric range, refrigerator, dishwasher and pantry closet. Finishing out the main level is a full bath. Ascending the stairs you will find two bedrooms with newer carpet and a full bath with a washer and dryer area. Exterior features include a spacious front porch, carport, storage shed and new wooden stairs/ramps accessing the back door. Per the current seller improvements since purchasing in 2023 include a new refrigerator, dishwasher, sink, two grounded outlets in the living room. total replacement of the back porch (deck), access ramps/steps and an exhaust vent was added for the dryer. The home is being sold as-is, where-is. Inspections are for buyers' informational purposes only.

19. 2024-02-07
    listed $135,000 Active 911-char remark

    Show marketing remark (911 chars)

    Upon entering the home you are greeted by a electric fireplace with remote. The living room spans the front of the house and flows into the dining room which is adjacent to the kitchen which features white cabinetry, electric range, refrigerator, dishwasher and pantry closet. Finishing out the main level is a full bath. Ascending the stairs you will find two bedrooms with newer carpet and a full bath with a washer and dryer area. Exterior features include a spacious front porch, carport, storage shed and new wooden stairs/ramps accessing the back door. Per the current seller improvements since purchasing in 2023 include a new refrigerator, dishwasher, sink, two grounded outlets in the living room. total replacement of the back porch (deck), access ramps/steps and an exhaust vent was added for the dryer. The home is being sold as-is, where-is. Inspections are for buyers' informational purposes only.

20. 2023-06-16
    soldstatus $124,900 Closed

    Show marketing remark (1129 chars)

    Charming home in the heart of town within blocks of Boonville High School and library. Completely updated, clean and ready for your family. Spacious front porch perfect for swing, porch furniture or hanging some ferns! The living room offers a fireplace with electric remote. The kitchen has white cabinets, range, refrigerator, pantry closet and dishwasher. Two bedrooms with new carpets installed prior to listing. Interesting twin architectural arch alcoves in dining room near ceiling waiting for your ideas to decorate. Upstairs laundry where the bedrooms are for convenience. Home has cellar type basement with sump pump. Carport and storage barn too! Deck off kitchen for grilling or chilling. The corner lot offers a nice front yard but no back yard to mow! Seller has done the following updates: 2017 Main Roof including all new wood. 2017 Windows, entire house new blown in insulation, 2023 New shower, new vinyl , flooring, new carpet, new paint, new trim, new landscaping, front and back roof replaced. Water Heater 2016, Furnace and air 2014 or 2015. Home is in Rural Housing financing with no money down area.

21. 2023-05-16
    status Pending

    Show marketing remark (1129 chars)

    Charming home in the heart of town within blocks of Boonville High School and library. Completely updated, clean and ready for your family. Spacious front porch perfect for swing, porch furniture or hanging some ferns! The living room offers a fireplace with electric remote. The kitchen has white cabinets, range, refrigerator, pantry closet and dishwasher. Two bedrooms with new carpets installed prior to listing. Interesting twin architectural arch alcoves in dining room near ceiling waiting for your ideas to decorate. Upstairs laundry where the bedrooms are for convenience. Home has cellar type basement with sump pump. Carport and storage barn too! Deck off kitchen for grilling or chilling. The corner lot offers a nice front yard but no back yard to mow! Seller has done the following updates: 2017 Main Roof including all new wood. 2017 Windows, entire house new blown in insulation, 2023 New shower, new vinyl , flooring, new carpet, new paint, new trim, new landscaping, front and back roof replaced. Water Heater 2016, Furnace and air 2014 or 2015. Home is in Rural Housing financing with no money down area.

22. 2023-05-11
    status Active

    Show marketing remark (1129 chars)

    Charming home in the heart of town within blocks of Boonville High School and library. Completely updated, clean and ready for your family. Spacious front porch perfect for swing, porch furniture or hanging some ferns! The living room offers a fireplace with electric remote. The kitchen has white cabinets, range, refrigerator, pantry closet and dishwasher. Two bedrooms with new carpets installed prior to listing. Interesting twin architectural arch alcoves in dining room near ceiling waiting for your ideas to decorate. Upstairs laundry where the bedrooms are for convenience. Home has cellar type basement with sump pump. Carport and storage barn too! Deck off kitchen for grilling or chilling. The corner lot offers a nice front yard but no back yard to mow! Seller has done the following updates: 2017 Main Roof including all new wood. 2017 Windows, entire house new blown in insulation, 2023 New shower, new vinyl , flooring, new carpet, new paint, new trim, new landscaping, front and back roof replaced. Water Heater 2016, Furnace and air 2014 or 2015. Home is in Rural Housing financing with no money down area.

23. 2023-05-04
    historical
24. 2023-04-11
    status Pending

    Show marketing remark (1129 chars)

    Charming home in the heart of town within blocks of Boonville High School and library. Completely updated, clean and ready for your family. Spacious front porch perfect for swing, porch furniture or hanging some ferns! The living room offers a fireplace with electric remote. The kitchen has white cabinets, range, refrigerator, pantry closet and dishwasher. Two bedrooms with new carpets installed prior to listing. Interesting twin architectural arch alcoves in dining room near ceiling waiting for your ideas to decorate. Upstairs laundry where the bedrooms are for convenience. Home has cellar type basement with sump pump. Carport and storage barn too! Deck off kitchen for grilling or chilling. The corner lot offers a nice front yard but no back yard to mow! Seller has done the following updates: 2017 Main Roof including all new wood. 2017 Windows, entire house new blown in insulation, 2023 New shower, new vinyl , flooring, new carpet, new paint, new trim, new landscaping, front and back roof replaced. Water Heater 2016, Furnace and air 2014 or 2015. Home is in Rural Housing financing with no money down area.

25. 2023-04-08
    listed $124,900 Active

    Show marketing remark (1129 chars)

    Charming home in the heart of town within blocks of Boonville High School and library. Completely updated, clean and ready for your family. Spacious front porch perfect for swing, porch furniture or hanging some ferns! The living room offers a fireplace with electric remote. The kitchen has white cabinets, range, refrigerator, pantry closet and dishwasher. Two bedrooms with new carpets installed prior to listing. Interesting twin architectural arch alcoves in dining room near ceiling waiting for your ideas to decorate. Upstairs laundry where the bedrooms are for convenience. Home has cellar type basement with sump pump. Carport and storage barn too! Deck off kitchen for grilling or chilling. The corner lot offers a nice front yard but no back yard to mow! Seller has done the following updates: 2017 Main Roof including all new wood. 2017 Windows, entire house new blown in insulation, 2023 New shower, new vinyl , flooring, new carpet, new paint, new trim, new landscaping, front and back roof replaced. Water Heater 2016, Furnace and air 2014 or 2015. Home is in Rural Housing financing with no money down area.

26. 2023-04-08
    listed $124,900

    Show marketing remark (1129 chars)

    Charming home in the heart of town within blocks of Boonville High School and library. Completely updated, clean and ready for your family. Spacious front porch perfect for swing, porch furniture or hanging some ferns! The living room offers a fireplace with electric remote. The kitchen has white cabinets, range, refrigerator, pantry closet and dishwasher. Two bedrooms with new carpets installed prior to listing. Interesting twin architectural arch alcoves in dining room near ceiling waiting for your ideas to decorate. Upstairs laundry where the bedrooms are for convenience. Home has cellar type basement with sump pump. Carport and storage barn too! Deck off kitchen for grilling or chilling. The corner lot offers a nice front yard but no back yard to mow! Seller has done the following updates: 2017 Main Roof including all new wood. 2017 Windows, entire house new blown in insulation, 2023 New shower, new vinyl , flooring, new carpet, new paint, new trim, new landscaping, front and back roof replaced. Water Heater 2016, Furnace and air 2014 or 2015. Home is in Rural Housing financing with no money down area.

ⓘ 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: $1,128 · $94/mo
• Projected year-2 tax: $1,128 · $94/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 6/10 Major FEMA zone X (shaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $15,362
• − Mortgage interest: −$7,002
• − Property taxes: −$1,128
• − Insurance: −$625
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$3,636
• Taxable income: $513
• Est. tax owed @ 24.0%: −$123
• After-tax cash flow: $2,394/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: Warrick County School Corporation
• NCES district ID: 1812390
• Math proficiency: 54% ▼ -8.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $62,801
• Composite: 49.38/100
• National rank: #2014
• State rank: #24 of 301 in IN

Livability — Boonville

• Score: 66/100
• State rank: #278
• US rank: #11520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boonville, IN
• Population (ZIP): 13,119

Population outlook (Warrick County) Hauer SSP2

• Today (2025): 66,569 people
• By 2030: 68,404 · +2.8%
• By 2040: 71,131 · +6.9%
• By 2050: 72,743 · +9.3%
• By 2075: 76,088 · +14.3%
• By 2100: 72,261 · +8.6%

Race, ethnicity, and origin ACS 2023

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

Political lean MEDSL · Warrick

• 2024 margin: Solid R (+30.2) · D 34.1% · R 64.3% · Other 1.5%
• 2008→2024 swing: -17.4pp toward R · 2008: -12.8pp · 2024: -30.2pp
• All cycles: 2024: R+30.2 2020: R+27.8 2016: R+33.9 2012: R+26.6 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.46%
• Current HPI: 207.7817
• 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

+4.0% since first listed

13 events — show timeline

• 2026-06-04 Price Changed $129,900 IRMLS
• 2026-05-27 Price Changed $135,000 IRMLS
• 2026-05-01 Listed $136,000 IRMLS
• 2024-03-19 Sold (MLS) $133,000 IRMLS
• 2024-02-16 Pending — IRMLS
• 2024-02-07 Listed $135,000 IRMLS
• 2023-06-16 Sold (MLS) $124,900 IRMLS
• 2023-05-16 Pending — IRMLS
• 2023-05-11 Relisted — IRMLS
• 2023-05-04 Delisted — HABOR
• 2023-04-11 Pending — IRMLS
• 2023-04-08 Listed $124,900 HABOR
• 2023-04-08 Listed $124,900 IRMLS

Property tax history

-0.6%/yr

Latest (2024): $1,128 · -0.2% YoY. Source: county tax records.