10841 Woods Dr · Ingalls, IN 46048

$285,000

4 bd · 2.5 ba · 2,190 sqft · SingleFamily public records · 8 Days on market

Built 2021 4,487 sqft lot Est $307k · 7% under $21/mo HOA · 1% of rent

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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 +10.7/15.0
• Appreciation +10.0/10.0
• Cash flow +6.0/30.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.4/10.0

Listing remarks

." Welcome to this beautifully renovated 5 BED ROOM 3 FULL BATH home The Updated Kitchen Includes NEW Stainless Steel Appliances . Plenty of Counter Space . with NEW Interior paint, NEW flooring throughout the home . The primary bedroom featuring a full en-suite and walk in closet separate tub and shower and beautiful double bowl vanity

Key facts

• 4,487 sq ft lot
• 2 garage spots
• Built 2021

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $250

Exterior

• Parking: Attached garage; Two-car garage (approximately 400 sq ft)
• Utilities: Public water; Municipal sewer connected
• Home design: Single family residence; Two levels
• Construction: Vinyl siding; Slab foundation
• Exterior features: No fence; Less than 1/4 acre lot

Interior

• Kitchen: Electric cooktop; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: Five bedrooms total (3 upstairs, 2 on the main level); Primary bedroom with walk-in closet
• Bathrooms: Three full bathrooms; Primary bathroom with double sinks and a full tub plus separate shower
• Heating & cooling: Electric heating with heat pump; Central air conditioning
• Interior features: Eat-in kitchen; Walk-in closets

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-538 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (33.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (33.9% below list).
• Recommended offer: $188k (33.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#391 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• South Madison Community School Corporation (rural): math 44% / reading 52% proficiency, ranked #60 of 301 in IN (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pendleton Heights High School (math 36% / reading 77%, grade C, #70 of 369 statewide, top 19%, 1,357 students, 31% FRL).
• Market conditions: 10 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Madison County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $188,360 (33.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.66% ✗
• Cap rate: 4.03%
• Cash-on-cash: -8.10%
• DSCR: 0.64
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $306,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10841 Woods Dr	0.00mi	5/3.0 (+1)	2,190 (0%)	0mo	$285,000	$130	93
10847 Grace Dr	0.05mi	4/2.5	2,328 (+6%)	2mo	$249,900	$107	86
10837 Mansfield Way	0.10mi	4/2.5	2,020 (-8%)	10mo	$265,000	$131	75
7647 Mansfield Way	0.14mi	3/2.5 (-1)	2,336 (+7%)	6mo	$270,000	$116	72
7645 Wymm Ln	0.10mi	3/2.5 (-1)	1,944 (-11%)	3mo	$274,900	$141	69
10915 Mansfield Way	0.12mi	3/2.5 (-1)	1,954 (-11%)	13mo	$271,000	$139	61
578 N Crystal Dr	0.57mi	4/3.0	2,346 (+7%)	4mo	$333,000	$142	56
1299 W Crystal Dr	0.59mi	4/3.0	2,269 (+4%)	11mo	$355,000	$156	55
595 N Wyndstone Way	0.65mi	4/2.5	2,390 (+9%)	0mo	$335,000	$140	54
660 N Granite Dr	0.66mi	3/2.5 (-1)	2,230 (+2%)	10mo	$339,900	$152	53
606 W 1050 N	0.64mi	4/2.0	2,015 (-8%)	6mo	$330,000	$164	50
562 N Wyndstone Way	0.70mi	4/2.0	2,463 (+12%)	7mo	$310,000	$126	39

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: 18.6%
• Equity multiple: 2.52×
• Total profit: $120,989
• Equity at exit: $256,751

10-year hold

• IRR: 17.3%
• Equity multiple: 5.80×
• Total profit: $383,387
• Equity at exit: $553,692

Cash invested: $79,800 (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 46048

• Home prices YoY: 14.6%
• Active inventory: 10
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,884 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$392 /mo · $4,706/yr
• Insurance: −$119
• HOA: −$21
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-538

Break-even live

Break-even rent $2,565

Max offer price $189,885

Occupancy floor —

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10845 Mansfield Way Ingalls, IN	3.0	2.5	1516	$1,825	$1.20	10d	1	0.09mi
10918 Spirit Dr Ingalls, IN	4.0	2.5	1633	$1,695	$1.04	1d	1	0.11mi
7587 Charlotte Dr Ingalls, IN	3.0	2.5	2328	$1,981	$0.85	1d	1	0.17mi
10904 Wymm Ln Ingalls, IN	4.0	2.5	2328	$2,149	$0.92	1d	1	0.20mi
7266 W Reformatory Rd Unit 7264 Pendleton, IN	3.0	2.0	1492	$1,700	$1.14	1d	1	1.02mi

HOA detail

• Monthly dues: $21 · $252/yr

Listing history 2 events

1. 2026-05-02
   status Pending
2. 2026-04-24
   listed $285,000 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: $4,706 · $392/mo
• Projected year-2 tax: $4,706 · $392/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 ≥101°F today · 19 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: $22,603
• − Mortgage interest: −$15,964
• − Property taxes: −$4,706
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,808
• − Management: −$1,808
• − HOA: −$252
• − Depreciation: −$8,291
• Taxable loss: −$11,651
• Est. tax savings @ 24.0%: +$2,796
• After-tax cash flow: $-3,665/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: South Madison Community School Corporation
• NCES district ID: 1810440
• Math proficiency: 44% ▼ -13.00%
• Reading proficiency: 52% ▼ -6.00%
• Median HH income: $63,565
• Composite: 42.4/100
• National rank: #3231
• State rank: #60 of 301 in IN

Livability — Ingalls

• Score: 64/100
• State rank: #391
• US rank: #14479

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ingalls, IN
• City population: 2,209
• Population (ZIP): 2,209

Population outlook (Madison County) Hauer SSP2

• Today (2025): 125,800 people
• By 2030: 122,640 · -2.5%
• By 2040: 115,420 · -8.3%
• By 2050: 108,148 · -14.0%
• By 2075: 91,838 · -27.0%
• By 2100: 75,670 · -39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Black 9% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Slovak 2% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Madison

• 2024 margin: Strong R (+26.9) · D 35.6% · R 62.5% · Other 1.9%
• 2008→2024 swing: -33.5pp toward R · 2008: 6.5pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+22.6 2016: R+25.7 2012: R+4.5 2008: D+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.30%
• Current HPI: 308.7212
• 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

2 events — show timeline

• 2026-05-02 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-24 Listed $285,000 MIBOR as Distributed by MLS Grid

Property tax history

+83.3%/yr

Latest (2024): $4,706 · +1.3% YoY. Source: county tax records.