105 N Main St · Modoc, IN 47358

$110,000

4 bd · 1.0 ba · 1,664 sqft · SingleFamily public records · 38 Days on market

Built 1900 7,500 sqft lot $66/sqft · 30% above area Est $84k · 30% over ↓ 26% since listing

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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 +25.6/30.0
• Appreciation +9.0/10.0
• DSCR +8.5/10.0
• 1% rule +6.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Experience the peace of mind of a brand-new home with the charm of small-town living. This 4-bedroom residence has been completely transformed from the inside out, offering modern luxury at an affordable pace. Key exterior and mechanical upgrades include a new roof and siding for maintenance-free curb appeal, a full system overhaul with updated wiring and plumbing, and many new windows installed throughout for enhanced energy efficiency. The modern interior features a total remodel with fresh paint and new flooring throughout the entire home. Highlights include a brand-new contemporary kitchen designed for the modern chef and an updated bathroom featuring stylish new tile flooring and updated fixtures. The flexible layout provides ample space for family, guests, or a home office. This home is move-in ready and worry-free. Why deal with renovations when you can have it all on day one?

Key facts

• New siding
• Updated wiring
• Full system overhaul

Tags

• NEW ROOF
• NEW SIDING
• FULL SYSTEM OVERHAUL
• UPDATED WIRING
• UPDATED PLUMBING
• NEW WINDOWS

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; One-and-a-half story
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Covered patio/porch; Deck; Lot under 1/4 acre

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: One bedroom on the main level; Three bedrooms on the upper level (total 4 bedrooms)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Radiant floor heating; No central air
• Interior features: Vaulted ceilings; Radiant floor heating; Natural gas heating
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#532 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, crime D-.
• Union School Corporation (rural): math 12% / reading 28% proficiency, ranked #276 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Union Elementary School (math 22% / reading 27%, grade F, #762 of 994 statewide, top 78%, 125 students, 64% FRL); Union Junior & High School (math 8% / reading 32%, grade F, #345 of 369 statewide, top 95%, 139 students, 63% FRL).
• Market conditions: 7 active listings in the ZIP; 19 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($761 loan paydown + $9k appreciation (7.9% local appreciation)).
• Randolph County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $39k (26%) 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.

Recommended offer $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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. 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. 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?
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: 1.12% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.19%
• DSCR: 1.45
• GRM: 7.4

CMA / ARV

• ARV (median comp): $84,444
• List price: $110,000
• Delta: 30.26%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

7.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 2.99×
• Total profit: $61,332
• Equity at exit: $82,906

10-year hold

• IRR: 24.9%
• Equity multiple: 6.37×
• Total profit: $165,532
• Equity at exit: $163,939

Cash invested: $30,800 (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 47358

• Home prices YoY: 3.4%
• Active inventory: 7
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,233 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$90 /mo · $1,075/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $261

Break-even live

Break-even rent $902

Max offer price $110,000

Occupancy floor 74%

Sensitivity live

Price	-10% $324	-5% $293	+0% $261	+5% $230	+10% $199
Rent	-10% $164	-5% $213	+0% $261	+5% $310	+10% $359
Rate	-1.0pp $317	-0.5pp $289	base $261	+0.5pp $233	+1.0pp $204

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $110,000 Active 38 DOM
2. 2026-06-18
   days on market $110,000 Active 37 DOM
3. 2026-06-17
   days on market $110,000 Active 36 DOM
4. 2026-06-16
   days on market $110,000 Active 35 DOM
5. 2026-06-15
   days on market $110,000 Active 34 DOM
6. 2026-06-14
   days on market $110,000 Active 32 DOM
7. 2026-06-12
   days on market $110,000 Active 31 DOM
8. 2026-06-09
   pricedays on market $110,000 Active 28 DOM

   Show marketing remark (896 chars)

   Experience the peace of mind of a brand-new home with the charm of small-town living. This 4-bedroom residence has been completely transformed from the inside out, offering modern luxury at an affordable pace. Key exterior and mechanical upgrades include a new roof and siding for maintenance-free curb appeal, a full system overhaul with updated wiring and plumbing, and many new windows installed throughout for enhanced energy efficiency. The modern interior features a total remodel with fresh paint and new flooring throughout the entire home. Highlights include a brand-new contemporary kitchen designed for the modern chef and an updated bathroom featuring stylish new tile flooring and updated fixtures. The flexible layout provides ample space for family, guests, or a home office. This home is move-in ready and worry-free. Why deal with renovations when you can have it all on day one?

9. 2026-06-08
   days on market $129,000 Active 27 DOM
10. 2026-06-07
    days on market $129,000 Active 26 DOM
11. 2026-06-05
    days on market $129,000 Active 23 DOM
12. 2026-06-02
    days on market $129,000 Active 21 DOM
13. 2026-06-01
    days on market $129,000 Active 20 DOM
14. 2026-05-31
    days on market $129,000 Active 19 DOM
15. 2026-05-30
    days on market $129,000 Active 18 DOM
16. 2026-05-11
    listed $149,000 Active 896-char remark

    Show marketing remark (896 chars)

    Experience the peace of mind of a brand-new home with the charm of small-town living. This 4-bedroom residence has been completely transformed from the inside out, offering modern luxury at an affordable pace. Key exterior and mechanical upgrades include a new roof and siding for maintenance-free curb appeal, a full system overhaul with updated wiring and plumbing, and many new windows installed throughout for enhanced energy efficiency. The modern interior features a total remodel with fresh paint and new flooring throughout the entire home. Highlights include a brand-new contemporary kitchen designed for the modern chef and an updated bathroom featuring stylish new tile flooring and updated fixtures. The flexible layout provides ample space for family, guests, or a home office. This home is move-in ready and worry-free. Why deal with renovations when you can have it all on day one?

17. 2026-05-11
    listed $149,000 Active 896-char remark

    Show marketing remark (896 chars)

    Experience the peace of mind of a brand-new home with the charm of small-town living. This 4-bedroom residence has been completely transformed from the inside out, offering modern luxury at an affordable pace. Key exterior and mechanical upgrades include a new roof and siding for maintenance-free curb appeal, a full system overhaul with updated wiring and plumbing, and many new windows installed throughout for enhanced energy efficiency. The modern interior features a total remodel with fresh paint and new flooring throughout the entire home. Highlights include a brand-new contemporary kitchen designed for the modern chef and an updated bathroom featuring stylish new tile flooring and updated fixtures. The flexible layout provides ample space for family, guests, or a home office. This home is move-in ready and worry-free. Why deal with renovations when you can have it all on day one?

ⓘ 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: $1,075 · $90/mo
• Projected year-2 tax: $1,075 · $90/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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $14,791
• − Mortgage interest: −$6,162
• − Property taxes: −$1,075
• − Insurance: −$550
• − Repairs & maintenance: −$1,183
• − Management: −$1,183
• − Depreciation: −$3,200
• Taxable income: $1,438
• Est. tax owed @ 24.0%: −$345
• After-tax cash flow: $2,793/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: Union School Corporation
• NCES district ID: 1811730
• Math proficiency: 12% ▬ 0.00%
• Reading proficiency: 28% ▲ 3.00%
• Median HH income: $42,889
• Composite: 17.17/100
• National rank: #9108
• State rank: #276 of 301 in IN

Livability — Modoc

• Score: 60/100
• State rank: #532
• US rank: #19171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Modoc, IN
• Population (ZIP): 917

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 22,998 people
• By 2030: 21,815 · -5.1%
• By 2040: 19,360 · -15.8%
• By 2050: 17,010 · -26.0%
• By 2075: 12,491 · -45.7%
• By 2100: 8,986 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 6%
• Common ancestry: Serbian 4% Romanian 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+53.7) · D 22.3% · R 75.9% · Other 1.8%
• 2008→2024 swing: -44.9pp toward R · 2008: -8.8pp · 2024: -53.7pp
• All cycles: 2024: R+53.7 2020: R+52.4 2016: R+48.5 2012: R+24.1 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.91%
• Current HPI: 238.7621
• 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

-26.2% since first listed

8 events — show timeline

• 2026-06-09 Price Changed $110,000 MIBOR as Distributed by MLS Grid
• 2026-06-09 Price Changed $110,000 IRMLS
• 2026-05-27 Price Changed $129,000 IRMLS
• 2026-05-27 Price Changed $129,000 MIBOR as Distributed by MLS Grid
• 2026-05-19 Price Changed $139,000 MIBOR as Distributed by MLS Grid
• 2026-05-19 Price Changed $139,000 IRMLS
• 2026-05-11 Listed $149,000 IRMLS
• 2026-05-11 Listed $149,000 MIBOR as Distributed by MLS Grid

Property tax history

+10.8%/yr

Latest (2024): $1,075 · -6.4% YoY. Source: county tax records.