629 Concord Rd · Stinesville, IN 47433

$229,000

3 bd · 1.5 ba · 1,404 sqft · SingleFamily public records · 9 Days on market

Built 1972 0.36 ac lot $163/sqft · 37% below area Est $362k · 37% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +6.2/30.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.5/10.0
• 1% rule +0.3/10.0

Listing remarks MLS

Ready to move into! Sweet 3 bedrooms, 1 & half baths, nice size family room, living room with vent less gas stove, light filled kitchen with dining area, laundry room and back deck to appreciate the country view. Many updates include landscaping, siding, windows, roofing shingles, painted interior, floor coverings and updated kitchen and baths. Large 2 car detached garage with loft, concrete floor, work space and elec. Conveniently located on east side of Owen Co, just minutes to the west side of Blgtn and I. U.

Key facts

• Quiet country living
• 0.36 acre lot
• 2 garage spots

Tags

• BACKING UP TO FARMLAND
• QUIET COUNTRY LIVING
• EASY ACCESS TO AMENITIES

Property features AI

Finance

• Other: Property type: Residential

Exterior

• Parking: Detached gravel garage; 2 garage spaces
• Utilities: Public water; Septic tank; Cable available and connected
• Home design: Single-family residence (site-built); One-story
• Construction: Vinyl siding; Shingle roof; Crawl space foundation; Built as a site-built home
• Exterior features: Deck; Fire pit; Level lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric cooktop
• Bedrooms: Main-floor primary bedroom
• Flooring: Hardwood; Carpet; Ceramic tile; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom; Two bathrooms on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Eat-in kitchen; Laminate countertops; Main-floor primary bedroom; Fire pit
• Laundry & utility: Washer hookup on the main level; Crawl space

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-420 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (32.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (47.4% below list).
• Recommended offer: $121k (47.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#182 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Spencer-Owen Community Schools (rural): math 38% / reading 40% proficiency, ranked #155 of 301 in IN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mccormick'S Creek Elementary Sch (math 55% / reading 46%, grade D+, #269 of 994 statewide, top 27%, 393 students, 52% FRL); Owen Valley Middle School (math 22% / reading 36%, grade F, #222 of 330 statewide, top 67%, 344 students, 55% FRL); Owen Valley Community High School (math 42% / reading 62%, grade D+, #106 of 369 statewide, top 31%, 671 students, 51% FRL).
• Market conditions: 30 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 $24k of equity ($2k loan paydown + $23k 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.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y 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.
• Current owner paid $98k; list at $229k implies a 135% gain — meaningful room to come down on a strong offer.

Recommended offer $120,534 (47.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1972 — 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. 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?
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: 0.53% ✗
• Cap rate: 4.09%
• Cash-on-cash: -7.85%
• DSCR: 0.65
• GRM: 15.8

CMA / ARV

• ARV (median comp): $361,773
• List price: $229,000
• Delta: -36.70%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 18.7%
• Equity multiple: 2.53×
• Total profit: $97,881
• Equity at exit: $206,301

10-year hold

• IRR: 17.4%
• Equity multiple: 5.82×
• Total profit: $309,040
• Equity at exit: $444,897

Cash invested: $64,120 (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 47433

• Home prices YoY: 9.4%
• Active inventory: 30
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $1,205 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$76 /mo · $907/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $-420

Break-even live

Break-even rent $1,737

Max offer price $154,868

Occupancy floor —

Sensitivity live

Price	-10% $-290	-5% $-355	+0% $-420	+5% $-484	+10% $-549
Rent	-10% $-515	-5% $-467	+0% $-420	+5% $-372	+10% $-324
Rate	-1.0pp $-304	-0.5pp $-361	base $-420	+0.5pp $-479	+1.0pp $-539

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-14
   listed $229,000 Active 859-char remark
2. 2014-11-18
   soldstatus $97,500 523-char remark

   Show marketing remark (523 chars)

   Ready to move into! Sweet 3 bedrooms, 1 & half baths, nice size family room, living room with vent less gas stove, light filled kitchen with dining area, laundry room and back deck to appreciate the country view. Many updates include landscaping, siding, windows, roofing shingles, painted interior, floor coverings and updated kitchen and baths. Large 2 car detached garage with loft, concrete floor, work space and elec. Conveniently located on east side of Owen Co, just minutes to the west side of Blgtn and I. U.

3. 2014-09-21
   listed $104,000 523-char remark

   Show marketing remark (523 chars)

   Ready to move into! Sweet 3 bedrooms, 1 & half baths, nice size family room, living room with vent less gas stove, light filled kitchen with dining area, laundry room and back deck to appreciate the country view. Many updates include landscaping, siding, windows, roofing shingles, painted interior, floor coverings and updated kitchen and baths. Large 2 car detached garage with loft, concrete floor, work space and elec. Conveniently located on east side of Owen Co, just minutes to the west side of Blgtn and I. U.

4. 2008-11-21
   soldstatus $50,000

   Show marketing remark (266 chars)

   COUNTRY LIVING ONLY MINUTES TO TOWN! Enjoy 3 bedrooms, family room & living room as well as an oversize 2c-det garage/pole barn. This one does need some fixing but at this price it is hard to go wrong! Verification of fnds or pre-qual to accompany all offers.

5. 2008-09-05
   listed $49,900

   Show marketing remark (266 chars)

   COUNTRY LIVING ONLY MINUTES TO TOWN! Enjoy 3 bedrooms, family room & living room as well as an oversize 2c-det garage/pole barn. This one does need some fixing but at this price it is hard to go wrong! Verification of fnds or pre-qual to accompany all offers.

ⓘ 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: $907 · $76/mo
• Projected year-2 tax: $1,427 · $119/mo
• Expected delta: +$520/yr (+$43/mo · 57.3%)

ⓘ 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 ≥104°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: $14,464
• − Mortgage interest: −$12,828
• − Property taxes: −$907
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$6,662
• Taxable loss: −$9,391
• Est. tax savings @ 24.0%: +$2,254
• After-tax cash flow: $-2,782/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: Spencer-Owen Community Schools
• NCES district ID: 1810950
• Math proficiency: 38% ▼ -6.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $45,258
• Composite: 33.21/100
• National rank: #5529
• State rank: #155 of 301 in IN

Livability — Stinesville

• Score: 69/100
• State rank: #182
• US rank: #8402

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 316
• Population (ZIP): 3,722

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 (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Italian 12% Iranian 2% Slovak 2%
• Foreign-born: 0%

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: ▲ 24.01%
• Current HPI: 278.3717
• 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

+358.9% since first listed

6 events — show timeline

• 2026-05-23 Pending — IRMLS
• 2026-05-14 Listed $229,000 IRMLS
• 2014-11-18 Sold (MLS) $97,500 IRMLS
• 2014-09-21 Listed $104,000 IRMLS
• 2008-11-21 Sold (MLS) $50,000 MIBOR as Distributed by MLS Grid
• 2008-09-05 Listed $49,900 MIBOR as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2024): $907 · +8.3% YoY. Source: county tax records.