414 Dewey St · Veedersburg, IN 47987

$125,000

2 bd · 1.0 ba · 861 sqft · SingleFamily public records · 32 Days on market

Built 1984 7,261 sqft lot Est $127k · at est.

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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).

• Appreciation +10.0/10.0
• ARV discount +8.1/15.0
• Cash flow +5.7/30.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.1/10.0

Listing remarks MLS

An older brick 2BR 1BA offering a Home Warranty on corner lot. Sound home that needs some painting and cleaning. 2CD gar & lean-to-roof between garage & house. Small storage bldg on lot. Current office space could easil y make a sunroom or 3rd BR. Would make a nice starter home or income property, Possible Contract Sale.

Key facts

• Updated bath
• Fresh paint
• New flooring

Tags

• UPDATED KITCHEN
• UPDATED BATH
• NEW FLOORING
• FRESH PAINT
• UPDATED FIXTURES
• LARGE YARD

Property features AI

Exterior

• Parking: Detached off-street garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residential site-built home; One story
• Construction: Brick construction; Slab foundation; Built as a site-built home
• Exterior features: Level lot

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: Total of 6 rooms (bedroom breakdown not specified)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Dishwasher; Microwave
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-256 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $80k (36.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $75k (39.8% below list).
• Recommended offer: $75k (39.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#395 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Southeast Fountain School Corporation (rural): math 34% / reading 43% proficiency, ranked #163 of 301 in IN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southeast Fountain Elementary (math 39% / reading 39%, grade F, #530 of 994 statewide, top 54%, 473 students, 56% FRL); Fountain Central High School (math 27% / reading 50%, grade F, #241 of 369 statewide, top 65%, 506 students, 51% FRL).
• Market conditions: 21 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 19 units permitted in Fountain County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Fountain County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $35k; list at $125k implies a 257% gain — meaningful room to come down on a strong offer.

Recommended offer $75,285 (39.8% 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. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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: 0.60% ✗
• Cap rate: 3.84%
• Cash-on-cash: -8.77%
• DSCR: 0.61
• GRM: 13.8

CMA / ARV

• ARV (on-the-fly): $126,567
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
413 Dewey St	0.03mi	2/1.0	780 (-9%)	19mo	$115,000	$147	67
500 W 2nd St	0.22mi	2/1.0	752 (-13%)	4mo	$121,900	$162	65
500 S Main St	0.63mi	2/1.0	910 (+6%)	2mo	$124,500	$137	59
106 W Van Buren St	0.63mi	1/1.0 (-1)	898 (+4%)	22mo	$15,000	$17	40
806 W State St	0.59mi	2/2.0	984 (+14%)	21mo	$163,000	$166	27

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

Projected returns pro-forma

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

5-year hold

• IRR: 18.1%
• Equity multiple: 2.48×
• Total profit: $51,784
• Equity at exit: $112,610

10-year hold

• IRR: 16.9%
• Equity multiple: 5.72×
• Total profit: $165,318
• Equity at exit: $242,848

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 47987

• Home prices YoY: 4.8%
• Active inventory: 21
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $753 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$143 /mo · $1,717/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$158
• Net cashflow: $-256

Break-even live

Break-even rent $1,077

Max offer price $79,796

Occupancy floor —

Sensitivity live

Price	-10% $-185	-5% $-221	+0% $-256	+5% $-291	+10% $-327
Rent	-10% $-315	-5% $-286	+0% $-256	+5% $-226	+10% $-196
Rate	-1.0pp $-193	-0.5pp $-224	base $-256	+0.5pp $-288	+1.0pp $-321

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: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
414 W Harrison St Apt 18 Veedersburg, IN	1.0	1.0	600	$699	$1.17	44d	1	0.47mi
414 W Harrison St Apt 10 Veedersburg, IN	2.0	1.0	700	$799	$1.14	21d	1	0.47mi

Listing history 21 events

1. 2026-06-19
   days on market $125,000 Active 32 DOM
2. 2026-06-18
   days on market $125,000 Active 31 DOM
3. 2026-06-17
   days on market $125,000 Active 30 DOM
4. 2026-06-16
   days on market $125,000 Active 29 DOM
5. 2026-06-15
   days on market $125,000 Active 28 DOM
6. 2026-06-14
   days on market $125,000 Active 26 DOM
7. 2026-06-12
   days on market $125,000 Active 25 DOM
8. 2026-06-09
   days on market $125,000 Active 22 DOM
9. 2026-06-08
   days on market $125,000 Active 21 DOM
10. 2026-06-07
    days on market $125,000 Active 20 DOM
11. 2026-06-03
    days on market $125,000 Active 16 DOM
12. 2026-06-02
    days on market $125,000 Active 15 DOM
13. 2026-06-01
    days on market $125,000 Active 14 DOM
14. 2026-05-31
    days on market $125,000 Active 13 DOM
15. 2026-05-30
    days on market $125,000 Active 12 DOM
16. 2026-05-18
    listed $125,000 Active
17. 2018-07-20
    historical
18. 2017-12-08
    listed $42,500
19. 2008-12-11
    soldstatus $35,000
20. 2004-10-13
    soldstatus $35,000 330-char remark

    Show marketing remark (330 chars)

    An older brick 2BR 1BA offering a Home Warranty on corner lot. Sound home that needs some painting and cleaning. 2CD gar & lean-to-roof between garage & house. Small storage bldg on lot. Current office space could easil y make a sunroom or 3rd BR. Would make a nice starter home or income property, Possible Contract Sale.

21. 2004-07-29
    listed $39,500 330-char remark

    Show marketing remark (330 chars)

    An older brick 2BR 1BA offering a Home Warranty on corner lot. Sound home that needs some painting and cleaning. 2CD gar & lean-to-roof between garage & house. Small storage bldg on lot. Current office space could easil y make a sunroom or 3rd BR. Would make a nice starter home or income property, Possible Contract Sale.

ⓘ 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: $1,717 · $143/mo
• Projected year-2 tax: $1,717 · $143/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 ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $9,034
• − Mortgage interest: −$7,002
• − Property taxes: −$1,717
• − Insurance: −$625
• − Repairs & maintenance: −$723
• − Management: −$723
• − Depreciation: −$3,636
• Taxable loss: −$5,391
• Est. tax savings @ 24.0%: +$1,294
• After-tax cash flow: $-1,777/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: Southeast Fountain School Corporation
• NCES district ID: 1810620
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $44,911
• Composite: 32.73/100
• National rank: #5640
• State rank: #163 of 301 in IN

Livability — Veedersburg

• Score: 64/100
• State rank: #395
• US rank: #14573

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Veedersburg, IN
• Population (ZIP): 3,705

Population outlook (Fountain County) Hauer SSP2

• Today (2025): 15,481 people
• By 2030: 14,841 · -4.1%
• By 2040: 13,505 · -12.8%
• By 2050: 12,149 · -21.5%
• By 2075: 9,214 · -40.5%
• By 2100: 6,463 · -58.3%

Race, ethnicity, and origin ACS 2023

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

Political lean MEDSL · Fountain

• 2024 margin: Solid R (+60.0) · D 19.1% · R 79.1% · Other 1.8%
• 2008→2024 swing: -45.6pp toward R · 2008: -14.4pp · 2024: -60.0pp
• All cycles: 2024: R+60.0 2020: R+56.7 2016: R+56.0 2012: R+34.2 2008: R+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.85%
• Current HPI: 235.6913
• 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

+216.5% since first listed

6 events — show timeline

• 2026-05-18 Listed $125,000 IRMLS
• 2018-07-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-12-08 Listed $42,500 MIBOR as Distributed by MLS Grid
• 2008-12-11 Sold (Public Records) $35,000 Public Records
• 2004-10-13 Sold (MLS) $35,000 MIBOR as Distributed by MLS Grid
• 2004-07-29 Listed $39,500 MIBOR as Distributed by MLS Grid

Property tax history

+21.6%/yr

Latest (2024): $1,717 · +0.4% YoY. Source: county tax records.