140 N Meridian St · Scottsburg, IN 47170

$49,900

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 43 Days on market

Built 1900 0.26 ac lot $37/sqft · 72% below area

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom 1 bath home located convenient to downtown.

Key facts

• 0.26 acre lot
• Built 1900
• Listed 43 days

Property features AI

Finance

• Other: Lot approximately 0.26 acre (dimensions ~109 x 104); Paved road access

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-story home; Vinyl siding; Shingle roof; Residential zoning; Resale condition
• Construction: Block foundation; Crawlspace foundation; Built with vinyl siding
• Exterior features: Covered porch

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two first-floor bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Window/wall air conditioning units
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.3% vs local median 4.1% in Scottsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#152 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment D-.
• Scott County School District 2 (town): math 33% / reading 43% proficiency, ranked #166 of 301 in IN (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 106 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 73 units permitted in Scott County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Scott County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $50k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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. 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.
5. 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.
6. 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: 2.57% ✓
• Cap rate: 22.34%
• Cash-on-cash: 57.31%
• DSCR: 3.55
• GRM: 3.2

CMA / ARV

• ARV (median comp): $181,090
• List price: $49,900
• Delta: -72.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
155 N Gardner St	0.27mi	3/1.0	1,341 (-0%)	4mo	$139,000	$104	83
192 N Meridian St	0.04mi	3/2.0	1,233 (-8%)	1mo	$165,000	$134	80
205 S Second St	0.40mi	3/1.0	1,304 (-3%)	2mo	$184,000	$141	75
516 W Green St	0.31mi	3/2.0	1,291 (-4%)	6mo	$236,900	$184	70
1198 Allen St	0.58mi	3/1.5	1,350 (+0%)	1mo	$239,900	$178	69
615 Lakeshore Dr	0.45mi	2/1.5 (-1)	1,320 (-2%)	3mo	$140,000	$106	66
267 N Railroad St	0.18mi	3/3.5	1,248 (-7%)	6mo	$159,998	$128	64
914 W Owen St	0.43mi	3/2.0	1,282 (-5%)	6mo	$72,000	$56	63
628 S First St	0.52mi	3/2.0	1,296 (-4%)	5mo	$95,000	$73	61
476 N Meridian St	0.32mi	4/2.0 (+1)	1,234 (-8%)	3mo	$183,500	$149	60
1237 Woodland Ave	0.74mi	3/2.0	1,417 (+5%)	6mo	$229,750	$162	48
1236 Woodland Ave	0.75mi	3/2.0	1,434 (+7%)	4mo	$225,000	$157	47

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

Projected returns pro-forma

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

5-year hold

• IRR: 55.8%
• Equity multiple: 3.46×
• Total profit: $34,432
• Equity at exit: $7,440

10-year hold

• IRR: 60.8%
• Equity multiple: 7.07×
• Total profit: $84,785
• Equity at exit: $4,314

Cash invested: $13,972 (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 47170

• Home prices YoY: -22.3%
• Active inventory: 106
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,281 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $667

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 43%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
432 N Meridian St Scottsburg, IN	3.0	2.0	1300	$1,200	$0.92	43d	1	0.23mi
737 Ray St Scottsburg, IN	3.0	1.0	989	$1,475	$1.49	43d	1	0.42mi

Listing history 19 events

1. 2026-06-18
   days on market $49,900 Active 43 DOM
2. 2026-06-17
   days on market $49,900 Active 42 DOM
3. 2026-06-16
   days on market $49,900 Active 41 DOM
4. 2026-06-15
   days on market $49,900 Active 40 DOM
5. 2026-06-13
   days on market $49,900 Active 38 DOM
6. 2026-06-12
   days on market $49,900 Active 37 DOM
7. 2026-06-09
   days on market $49,900 Active 34 DOM
8. 2026-06-08
   days on market $49,900 Active 33 DOM
9. 2026-06-07
   days on market $49,900 Active 32 DOM
10. 2026-06-07
    days on market $49,900 Active 31 DOM
11. 2026-06-04
    days on market $49,900 Active 28 DOM
12. 2026-06-02
    days on market $49,900 Active 27 DOM
13. 2026-06-01
    days on market $49,900 Active 26 DOM
14. 2026-05-31
    days on market $49,900 Active 25 DOM
15. 2026-05-31
    days on market $49,900 Active 24 DOM
16. 2026-05-14
    price $49,900 422-char remark
17. 2026-05-05
    listed $59,900 Active 422-char remark
18. 2012-12-17
    soldstatus $20,000 53-char remark

    Show marketing remark (53 chars)

    3 bedroom 1 bath home located convenient to downtown.

19. 2012-07-20
    listed $29,900 53-char remark

    Show marketing remark (53 chars)

    3 bedroom 1 bath home located convenient to downtown.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,374
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,230
• − Management: −$1,230
• − Depreciation: −$1,452
• Taxable income: $7,669
• Est. tax owed @ 24.0%: −$1,841
• After-tax cash flow: $6,167/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: Scott County School District 2
• NCES district ID: 1810020
• Math proficiency: 33% ▼ -10.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $45,529
• Composite: 32.37/100
• National rank: #5734
• State rank: #166 of 301 in IN

Livability — Scottsburg

• Score: 70/100
• State rank: #152
• US rank: #7609

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Scottsburg, IN
• Population (ZIP): 15,279

Population outlook (Scott County) Hauer SSP2

• Today (2025): 22,525 people
• By 2030: 21,609 · -4.1%
• By 2040: 19,536 · -13.3%
• By 2050: 17,370 · -22.9%
• By 2075: 12,862 · -42.9%
• By 2100: 9,340 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Scott

• 2024 margin: Solid R (+51.5) · D 23.4% · R 74.9% · Other 1.6%
• 2008→2024 swing: -49.5pp toward R · 2008: -2.0pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+45.6 2016: R+37.9 2012: R+6.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.30%
• Current HPI: 223.9909
• 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

+66.9% since first listed

4 events — show timeline

• 2026-05-14 Price Changed $49,900 SIRA
• 2026-05-05 Listed $59,900 SIRA
• 2012-12-17 Sold (MLS) $20,000 SIRA
• 2012-07-20 Listed $29,900 SIRA

Property tax history

-24.7%/yr

Latest (2024): $80 · +63.3% YoY. Source: county tax records.