95 S Maple St

Andrews, IN 46702

$119,000C+

4 bd · 1.0 ba · 2,090 sqft · Built 1939 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,342/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$118
• HOA: −$0
• Vac / Maint / Mgmt: −$282
• Net cashflow: $318/mo
• Annual: $3,818/yr
• Cap rate: 9.50%
• Cash-on-cash: 11.46%
• DSCR: 1.51
• 1% rule: 1.13%
• Cash to close: $33,320

Investor read

• This is a 4-bed/1.0-bath single-family listed at $119k.
• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $7k of equity ($823 loan paydown + $6k appreciation (5.4% local appreciation)).
• Location reads 66/100 on livability (#274 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Huntington County Community School Corporation (rural): math 34% / reading 39% proficiency, ranked #176 of 301 in IN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Andrews Elementary School (math 47% / reading 37%, grade F, #434 of 994 statewide, top 48%, 316 students, 45% FRL); Riverview School (math 29% / reading 40%, grade F, #167 of 330 statewide, top 52%, 503 students, 54% FRL); Huntington North High School (math 30% / reading 55%, grade F, #195 of 369 statewide, top 53%, 1,424 students, 42% FRL).
• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 79 units permitted in Huntington County in 2024 (0 in 5+ unit buildings).
• Huntington County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y 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 $25k; list at $119k implies a 378% gain — meaningful room to come down on a strong offer.
• At projected returns (5.4% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.