175 W Logan St · Markle, IN 46770

$89,900

3 bd · 1.0 ba · 1,712 sqft · SingleFamily public records · 34 Days on market

Built 1900 7,480 sqft lot Est $135k · 34% under

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Why this score? — see what drove the A- 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 +29.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Appreciation +7.4/10.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Small town living at its finest. This home is ready for the new owner to put their touch on the interior. Home includes one bedroom on the main level with two additional bedrooms upstairs. Large mud room/utility room at back of house. Vinyl siding and replacement windows are some updates you will find in this historic home waiting to be made new again inside. To be sold as is.

Key facts

• 7,480 sq ft lot
• Built 1900
• Listed 34 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding; Slab foundation; Built as site-built construction
• Exterior features: Covered porch; Patio; Level lot; Shed(s)

Interior

• Kitchen: Electric range
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: One fireplace; Crawl space basement
• Laundry & utility: Washer and dryer on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#228 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute 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: Salamonie Elementary School (math 52% / reading 42%, grade D-, #325 of 994 statewide, top 36%, 286 students, 46% 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).
• Market conditions: 4 active listings in the ZIP; 79 units permitted in Huntington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($622 loan paydown + $4k appreciation (4.9% local appreciation)).
• Huntington County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 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?
5. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.35%
• DSCR: 1.68
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $135,248
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
225 W Logan St	0.07mi	3/1.0	1,632 (-5%)	20mo	$90,000	$55	72
235 N Clark St	0.21mi	3/1.5	1,725 (+1%)	22mo	$136,200	$79	69
295 E Morse St	0.38mi	3/1.5	1,579 (-8%)	14mo	$197,500	$125	56
395 W Morse St	0.30mi	3/1.5	1,924 (+12%)	12mo	$120,000	$62	53

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

Projected returns pro-forma

4.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.9%
• Equity multiple: 2.61×
• Total profit: $40,549
• Equity at exit: $50,234

10-year hold

• IRR: 25.0%
• Equity multiple: 5.18×
• Total profit: $105,160
• Equity at exit: $86,115

Cash invested: $25,172 (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 46770

• Home prices YoY: 2.2%
• Active inventory: 4
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,131 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$63 /mo · $750/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $322

Break-even live

Break-even rent $723

Max offer price $89,900

Occupancy floor 67%

Sensitivity live

Price	-10% $373	-5% $347	+0% $322	+5% $297	+10% $271
Rent	-10% $233	-5% $277	+0% $322	+5% $367	+10% $411
Rate	-1.0pp $367	-0.5pp $345	base $322	+0.5pp $299	+1.0pp $275

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-12
   statusdays on market $89,900 Pending 34 DOM
2. 2026-06-09
   days on market $89,900 Active 33 DOM
3. 2026-06-08
   days on market $89,900 Active 32 DOM
4. 2026-06-07
   days on market $89,900 Active 31 DOM
5. 2026-06-05
   days on market $89,900 Active 28 DOM
6. 2026-06-03
   days on market $89,900 Active 27 DOM
7. 2026-06-02
   days on market $89,900 Active 26 DOM
8. 2026-06-01
   days on market $89,900 Active 25 DOM
9. 2026-05-31
   days on market $89,900 Active 24 DOM
10. 2026-05-30
    days on market $89,900 Active 23 DOM
11. 2026-05-06
    listed $89,900 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: $750 · $63/mo
• Projected year-2 tax: $757 · $63/mo
• Expected delta: +$7/yr (+$1/mo · 0.9%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,571
• − Mortgage interest: −$5,036
• − Property taxes: −$750
• − Insurance: −$450
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$2,615
• Taxable income: $2,549
• Est. tax owed @ 24.0%: −$612
• After-tax cash flow: $3,253/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: Huntington County Community School Corporation
• NCES district ID: 1804710
• Math proficiency: 34% ▼ -6.00%
• Reading proficiency: 39% ▼ -10.00%
• Median HH income: $47,010
• Composite: 31.29/100
• National rank: #6013
• State rank: #176 of 301 in IN

Livability — Markle

• Score: 68/100
• State rank: #228
• US rank: #9950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Markle, IN
• Population (ZIP): 2,604

Population outlook (Huntington County) Hauer SSP2

• Today (2025): 35,613 people
• By 2030: 34,759 · -2.4%
• By 2040: 32,682 · -8.2%
• By 2050: 30,495 · -14.4%
• By 2075: 26,298 · -26.2%
• By 2100: 22,653 · -36.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 1%
• Common ancestry: Italian 2% Slovak 2% Scottish 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Huntington

• 2024 margin: Solid R (+48.4) · D 24.9% · R 73.3% · Other 1.8%
• 2008→2024 swing: -21.2pp toward R · 2008: -27.2pp · 2024: -48.4pp
• All cycles: 2024: R+48.4 2020: R+49.9 2016: R+51.0 2012: R+39.8 2008: R+27.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.87%
• Current HPI: 230.2682
• 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

1 event — show timeline

• 2026-05-06 Listed $89,900 IRMLS

Property tax history

+8.4%/yr

Latest (2024): $750 · +29.3% YoY. Source: county tax records.