12621 SR 159 · Lewis, IN 47866

$179,900

3 bd · 1.0 ba · 2,306 sqft · SingleFamily public records · 41 Days on market

Built 1900 $78/sqft · at area comps Est $187k · 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).

• Cash flow +10.5/30.0
• ARV discount +9.2/15.0
• Appreciation +5.2/10.0
• DSCR +3.0/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0

Listing remarks MLS

Super cute 4 bed, 2 full bath in southern Vigo County! This 2,306 sq ft move in ready home features an enormous main level Master Suite (31 x 15) with a fireplace, soaking tub and office area. There is a kitchen dining combo with newer flooring that opens up nicely to the living room. The three other bedrooms are located upstairs. Outside is a spacious fully fenced yard with a large 36 x 24 detached garage. Peace of mind with a new HVAC and new roof in 2016! To see this wonderful home call of text Matt Renn 812-249-2435.

Key facts

• Security system
• Fenced-in backyard
• Corner lot

Tags

• CORNER LOT
• FENCED-IN BACKYARD
• DETACHED GARAGE
• SECURITY SYSTEM

Property features AI

Exterior

• Parking: Detached 2-car garage with garage door opener
• Security: Smoke detector(s)
• Utilities: Septic tank
• Home design: Single family residence; 2 stories
• Construction: Metal siding; Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: Covered patio/porch; Lot in R-1 zoning

Interior

• Kitchen: Dishwasher; Electric range; Electric oven; Microwave; Refrigerator; Garbage disposal; Water softener
• Flooring: Carpet; Ceramic tile; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fan(s)
• Interior features: Walk-in closet(s); One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (28.5% below list).
• Recommended offer: $129k (28.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Vigo County School Corporation (urban): math 32% / reading 37% proficiency, ranked #202 of 301 in IN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riley Elementary School (math 67% / reading 52%, grade B-, #128 of 994 statewide, top 15%, 390 students, 35% FRL); Honey Creek Middle School (math 34% / reading 44%, grade F, #128 of 330 statewide, top 40%, 664 students, 39% FRL); Terre Haute South Vigo High School (math 37% / reading 72%, grade C-, #79 of 369 statewide, top 26%, 1,610 students, 51% FRL).
• Zoned-school proficiency averages 51% at this address vs 34% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Vigo County School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 2 active listings in the ZIP; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $691 appreciation (0.4% local appreciation)).
• Vigo County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $115k; list at $180k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $128,638 (28.5% 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 41 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.72% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.19%
• DSCR: 0.90
• GRM: 11.7

CMA / ARV

• ARV (median comp): $187,032
• List price: $179,900
• Delta: -3.81%
• Verdict: FAIR
• Comps: 5 within 2.0 mi

Projected returns pro-forma

0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.84×
• Total profit: $-7,906
• Equity at exit: $55,717

10-year hold

• IRR: 2.2%
• Equity multiple: 1.25×
• Total profit: $12,682
• Equity at exit: $69,819

Cash invested: $50,372 (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 47866

• Home prices YoY: 0.2%
• Active inventory: 2
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,286 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$90 /mo · $1,077/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-92

Break-even live

Break-even rent $1,403

Max offer price $163,673

Occupancy floor —

Sensitivity live

Price	-10% $10	-5% $-41	+0% $-92	+5% $-143	+10% $-194
Rent	-10% $-193	-5% $-143	+0% $-92	+5% $-41	+10% $10
Rate	-1.0pp $-1	-0.5pp $-46	base $-92	+0.5pp $-138	+1.0pp $-186

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   status $179,900 Pending 41 DOM
2. 2026-06-18
   days on market $179,900 Active 41 DOM
3. 2026-06-17
   days on market $179,900 Active 40 DOM
4. 2026-06-16
   days on market $179,900 Active 39 DOM
5. 2026-06-15
   days on market $179,900 Active 38 DOM
6. 2026-06-14
   days on market $179,900 Active 36 DOM
7. 2026-06-13
   days on market $179,900 Active 35 DOM
8. 2026-06-10
   days on market $179,900 Active 33 DOM
9. 2026-06-09
   days on market $179,900 Active 32 DOM
10. 2026-06-08
    days on market $179,900 Active 31 DOM
11. 2026-06-07
    days on market $179,900 Active 30 DOM
12. 2026-06-05
    days on market $179,900 Active 27 DOM
13. 2026-06-02
    days on market $179,900 Active 25 DOM
14. 2026-06-01
    days on market $179,900 Active 24 DOM
15. 2026-05-31
    days on market $179,900 Active 23 DOM
16. 2026-05-30
    days on market $179,900 Active 22 DOM
17. 2026-05-08
    listed $184,999 Active 748-char remark
18. 2022-09-03
    status Pending
19. 2022-08-23
    status Active
20. 2022-08-10
    status Pending
21. 2022-08-04
    listed $142,900 Active
22. 2020-12-07
    soldstatus $115,000

    Show marketing remark (526 chars)

    Super cute 4 bed, 2 full bath in southern Vigo County! This 2,306 sq ft move in ready home features an enormous main level Master Suite (31 x 15) with a fireplace, soaking tub and office area. There is a kitchen dining combo with newer flooring that opens up nicely to the living room. The three other bedrooms are located upstairs. Outside is a spacious fully fenced yard with a large 36 x 24 detached garage. Peace of mind with a new HVAC and new roof in 2016! To see this wonderful home call of text Matt Renn 812-249-2435.

23. 2020-05-11
    listed $129,900

    Show marketing remark (526 chars)

    Super cute 4 bed, 2 full bath in southern Vigo County! This 2,306 sq ft move in ready home features an enormous main level Master Suite (31 x 15) with a fireplace, soaking tub and office area. There is a kitchen dining combo with newer flooring that opens up nicely to the living room. The three other bedrooms are located upstairs. Outside is a spacious fully fenced yard with a large 36 x 24 detached garage. Peace of mind with a new HVAC and new roof in 2016! To see this wonderful home call of text Matt Renn 812-249-2435.

ⓘ 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: $1,077 · $90/mo
• Projected year-2 tax: $1,303 · $109/mo
• Expected delta: +$226/yr (+$19/mo · 21.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥104°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 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,437
• − Mortgage interest: −$10,077
• − Property taxes: −$1,077
• − Insurance: −$900
• − Repairs & maintenance: −$1,235
• − Management: −$1,235
• − Depreciation: −$5,233
• Taxable loss: −$4,320
• Est. tax savings @ 24.0%: +$1,037
• After-tax cash flow: $-65/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: Vigo County School Corporation
• NCES district ID: 1812090
• Math proficiency: 32% ▼ -10.00%
• Reading proficiency: 37% ▼ -8.00%
• Median HH income: $40,100
• Composite: 28.97/100
• National rank: #6625
• State rank: #202 of 301 in IN

Livability — Lewis

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 512

Population outlook (Vigo County) Hauer SSP2

• Today (2025): 106,366 people
• By 2030: 105,674 · -0.7%
• By 2040: 103,731 · -2.5%
• By 2050: 101,200 · -4.9%
• By 2075: 95,674 · -10.1%
• By 2100: 85,910 · -19.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 12% Two or more races 4%
• Common ancestry: Romanian 11% Slovak 7% Lithuanian 4%
• Languages at home: 88% English-only · Spanish 12%

Political lean MEDSL · Vigo

• 2024 margin: R (+18.1) · D 40.0% · R 58.1% · Other 2.0%
• 2008→2024 swing: -33.9pp toward R · 2008: 15.8pp · 2024: -18.1pp
• All cycles: 2024: R+18.1 2020: R+14.7 2016: R+15.2 2012: D+0.8 2008: D+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.38%
• Current HPI: 163.409
• 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

+38.5% since first listed

8 events — show timeline

• 2026-05-28 Price Changed $179,900 THAAR
• 2026-05-08 Listed $184,999 THAAR
• 2022-09-03 Pending — THAAR
• 2022-08-23 Relisted — THAAR
• 2022-08-10 Pending — THAAR
• 2022-08-04 Listed $142,900 THAAR
• 2020-12-07 Sold (MLS) $115,000 THAAR
• 2020-05-11 Listed $129,900 THAAR

Property tax history

+8.4%/yr

Latest (2024): $1,077 · +10.0% YoY. Source: county tax records.